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.. . . : <br /> ..\ <; .. � .� f y:-� +-t � } -i� .t ,�. .y �p �''-. .� �.�, ', c `'��1 t ,,.:e:^�"F}Hbt�"`'`r •i•' ' wnr:,,=x"�_ ��+.�.s x. i.°.-�..�,.-• C ' <br /> t, � 1 1 �1'� y� �,,��t��p t �t,`f���"�^�,:,��i�+:.c . �r �\��, 4 ?' —_ �.+::� ':.5::.' _'u�.:..,��b-=_ �� F�..S�, <br /> l�ias,� F'���R1 � ���� •) I tx ~��`�'���d'�t��Yl�l.�x-��SS��.J�Sk�iY'�a4-' __ <br /> "'__--_ ——__— _ <br /> .__— ---_'___-__�_ —�___""'_'_. _ —___—____ <br /> _� . <br /> . _� <br /> __ .. � � <br /> _ _ _. <br /> � � . � . .. . . ._._�.. . � <br /> ' �QU�JV <br /> - 9Q-- <br /> � � a11 insurance policies that �rusto� is ��q�i:�ed to maintain <br /> hereunde=. <br /> {c� Not later �an t�n_ (:�Q�: days prior to the ex- <br /> piratfon, termination or can�alG���i►�x�, af any insurance pol- <br /> iay whicb �rustor is requarec� �to m���ai� hereunder, Trustor <br /> s3�a�1 obtain a reglacemen� g�q�fcy•.o�- FAZicies (or a birtding <br /> cammitment for such repl�i��triant pol���• or policies), which <br /> shall be effective no later�t�a�,tbe date af the expiration, <br /> termination or czsa�aeZlatien�axf' �it� pr�vious pa2icy. <br /> (d) Al1 insurers shall be authorized to issue <br /> insurance in the State �n which this Froperty is � located, <br /> and all insurers and xei�asurers shall have the A.M. Best <br /> ratf�tg of "A" or better and a financial size rating of XII <br /> in �he current �da.tion ef He�f Insurance Reports or such <br /> � other ratfmgs as shaLl. he reasonably aaceptabZe to <br /> Heneficiary. , , � <br /> ' � 1.07 Insurance Proceed:�. (a) Tru�tor sha12 qive <br /> '� � pra�t written notice to �eneficiary o€ the occurrence of <br /> . ', � any damaqe to or destruction of the Z�ps�vements (which term <br /> as used in this Section 1.07 shall inclr.�de Equipment}_ in an <br /> amoc�nt qreater than $50,000. <br /> (b) IInless otherwise requised by the Grounc� � <br /> L,ease, in the event of any damage to or destruction of the � <br /> Zmpr�vements or any part thereof and at such t�.me an Evenie ' " . <br /> of .geiault shall have occurrecl �d be contin�in*� hereunder, ��' <br /> . Hene�iciary shal�. �eceive all graceeds of ha��rd insura�c� � , <br /> � and shall apply such proceeds to the pr��ayment of the Obli- �, .`"'� <br /> gations in accordance with the apg�T��able terms of the <br /> Credit Agreement. � _- <br /> (c) Unless otherwise required by the Ground � � <br /> Lease, fn the event of any damage to or deatruction of the <br /> Improvements, and if ts��stor shall elect to repafr or . _ <br /> restore the Improveznents, and if an Event of Default shall � <br /> not have occurred ar�d be contfnr,t.'rx�g hereunder, ��sustor sha1L <br /> be entitled to r�ecefve all it�s�rance pzoceeds and Trustor <br /> • shall appl� such proceeds to the pay���t of the ca�� and <br /> � expenses Q€ 3epairing and restoring the Improvements. L <br /> (d) Unless otherwise required by the asou��: ; <br /> ' Lease, if �ection 1.07(b) shall be applfcable because Q� the , . . <br /> occurrence and continuance of an Event of �1�ault, ��!�.��' <br /> Bene�fcfary shal]. have the rfqht to settle, ad�ust a� <br /> com,��omise any clabm under any polfcy of ins�a��ce. In a�.L <br /> -8- <br /> � :_-___----- <br /> � � . <br /> '� <br />.; L L..� � <br /> ti <br /> , �� <br /> � <br />. � <br />,� � J <br />; . <br />_- � <br />