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<br />;����� �:,�; (e) During the course of any construction or repa3r of -
<br />-�>�':;�:;�; the Improvements on the Property, builder's comple�ed va:�ue risk
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<br /> insurance against "all riske of physical loss", including collapae
<br />_;� .�;. and transit coverage, during construction of such Improvement9, °
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<br /> with deduatibles not to exceed $1, 000.00, in non-xeporting fo�m,
<br /> covering the total value of work to be performed and equipment, �
<br />�,,,�� supplies and materia�s to be furnished. Said policy of insurance -
<br /> -�--�' � shall contain the "permiesion to occupy upon completion of work or
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<br /> occupancy" �ndors�ment;
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<br />_;_ ��: � � (f) Boiler and machiner.y �.nsurance covering pressure
<br /> _ : :f�; ve�sels, air tanks, boilers, machinery, pressure piping, he2�ting,
<br />':��;,;�:;•.;;-, air conditioning and elevator equipment and escalator equipment,
<br />=r�'X�:r'r�_ provided the Improvements contain equipment of such nature, and
<br />- -��;,;,�� insurance against loss �f occupztncy or use arising from any
<br /> �' ��.�"��� breakdawn, in such amaunts as are reasonably satisfactory to
<br /> -• `' :� ' Beneficiary;
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<br />- �'''"; ' (g) Insurance aqainst loss or damage to the Personal i
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<br />=L�••, �� Property by fire and other risks covered by insurance of th8 type
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<br /> � � %'��. now known as "fire and extended coverage";
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<br /> .-,;��:}�^ (h) Such other insurance, and in such amounts, as may
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<br /> ��,;,�� ;y�.,,� � from time to time be reasonably required by Beneficiary against the
<br />�•: '; same or other hazards; and
<br /> �:.��T� ' (i) All policies of insurance required by terms af this
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<br />�;:�; -�.r Deed shall contain an endorsement oz agreement by �he insurer that
<br />?��ti���?. any loss shall be payable in accordance �rith the terms of such
<br />�-���.� .;�a policy nat•,ri}n�t�„�;n� any act or r�egliqence of Grantor which might
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<br /> _v.,�c,�.,,,..,� otherwise result in forfei�ure of said insurance and the tur ner
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<br /> =�::.�:��.,;;,,. agreement of the insurer waiving all rights o£ set of ,
<br /> `�'"J'°"A`'-�u�� counterclaim or deductions against Gxantor.
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<br />--�.,.rk:� 1.4 Deliverv of Policies, Payment of Premiums. That all
<br /> � '�` polici.es of insurance shall be issued by companies and in amounts
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<br /> � 1��;-� i.n each company reasonably sati.sfactory to Beneficiary. All
<br />�.".� policie� of insurance shall have attached thereto a lender' s loss
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<br />�,.,r,� payable endorsement (without contribution) for the benef t o
<br /> "_�� ''"`''t. Beneficiary in form reasonably satisfactory to Ben��iciary.
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<br /> _-��=��; Grantor shall furnish Beneficiary with an oriyinal policy of all
<br />-.;;V,��_;���� policies of required insurance. If Beneficiary consents to Graretor
<br />-�;;-�3"y�� providing any of the required insurance through blanket policies
<br /> °4��'"'''�`' carried by Grantor and ooverinq more than one location, then _
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<br /> �:�• ° '•� Grantor shall furnish Beneficiary with a certificate Qf insurance
<br /> ti;;;�,s:._'-' for each such policy setting forth the coverage, the limit� of
<br /> �-'��ti ` liability, the name o f t he c a r r i e r, the polic y number, and the
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<br />�;3_,� ., expiratfon date. At least thirty (30) days prior to the expiration
<br /> �;,; �,.�� of each such policy, Grantor shall furnish Beneficiary witti
<br /> � °� evidence satisfactory to Beneficiary of payment of the premium and
<br /> -"� M� .�; the reissuance of a policy continuing insurance in force as
<br /> �- , required by this Deed. All such policies shall contain a provision
<br /> - that such policies will not be cancelled or materially amended,
<br /> which term stiall include any reduction in the scope or limit of
<br /> coverages, without at least thirty (30) days prior written notice
<br /> . �. to Benef iciary. In the event Grantor fails to provide, ma intain,
<br /> •+ keep in force or deliver and furni�h to Benefic�ary the �olicies of
<br /> : � insuz•ance required by this Section, Beneficiary may procure such �.
<br /> insurance or single-interest insurance for such risks covering �
<br /> Y Beneficiary's interest, and Grantor will pay all premiums thereon
<br /> � � promptly upon demand by Beneficiary, and until such payment is made _
<br /> { by Grantor the amount of all such premiums together with interest _
<br /> thereon at �he rate of interest provided in the Note shall be
<br /> cnrttrAA hv this Deed. At th� request of Beneficiary, Grantor sYiall
<br /> T.. � � deposit with Beneficiary in monttily installments, an amouii� C{iUal :
<br /> I to one-twelfth of the estimated aggregate annual insurance px'emiums '
<br /> , � on all policies of insurance required by this Deed in order to
<br /> � � accumula�e with Beneficiary sufficient fL�nds to pay all of the ;
<br /> . j aforesaid premiums thirty (30) days prior to their due date. i
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