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201703609 insurance policies, as the first mortgagee and loss payee on all property insurance policies, and as a loss payee on all rental loss or business interruption insurance policies and shall be otherwise in form and substance reasonably acceptable to Grantee. (c) Grantor shall promptly notify Grantee of any damage to, destruction or loss of or other casualty with respect to any of the Property, whether insured or not. Upon the occurrence and during the continuance of an Event of Default, in case of such damage, destruction, loss or other casualty that exceeds 35% of the value of the Property, Grantee is authorized (i) to settle and adjust any claim under insurance policies that insure against such risks and to deduct therefrom reasonable costs and expenses of collection (including reasonable attorney's fees and expenses), or (ii) to allow Grantor to, it its reasonable discretion, agree with the insurance company or companies on the amount to be paid in regard to such casualty. In either case, Grantee is authorized to collect and give receipt for any such insurance money, with notice of such collection and receipt to Grantor. (d) If any damage to, destruction or loss of or other casualty with respect to any of the Property shall occur, the proceeds of any insurance available as a result of such destruction, loss or casualty shall be disbursed and administered in accordance with the terms and provisions of the Credit Agreement. 3.05 Condemnation Awards. In the event of any taking of the Property or any part thereof, in or by condemnation or other eminent domain proceedings pursuant to any law, general or special, or by reason of the temporary requisition of the use or occupancy of the Property or any part thereof, by any governmental authority, civil or military (each, a "Taking "), Grantor shall promptly notify Grantee upon receiving notice of such Taking or commencement of proceedings therefor. Grantor shall then, if reasonably requested by Grantee, file or defend its claim thereunder and prosecute the same with due diligence to its final disposition. Grantee shall be entitled to participate in any such proceeding, at Grantor's sole cost and expense, and Grantor shall deliver or cause to be delivered to Grantee such instruments as may be reasonably requested by Grantee from time to time to permit such participation. Except as may otherwise be provided in the Credit Agreement, all proceeds or any award or payment in respect of any Taking are hereby assigned and shall be paid to Grantee, and Grantor shall take all steps reasonably necessary to notify the condemning authority of such assignment. Such award or payment shall be applied in accordance with the provisions of the Credit Agreement. 3.06 Maintenance of Property. Grantor shall, to the extent required in the Credit Agreement: NAI- 1502659666v3 (a) promptly repair, restore, replace or rebuild any portion of the Property which may become damaged, destroyed, altered, removed, severed, or demolished, ordinary wear and tear excepted, so long as insurance proceeds are available for the purpose, with replacements at least equal in quality and condition as previously existed, free from any security interest in, encumbrances on or reservation of title thereto (except for Permitted Exceptions); and (b) keep the Property in good condition and repair, without waste. -6-