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<br />-105089
<br />Property Against (1),all risk of loss, damage, destructions
<br />th*fty or any other casualty or risk, covering the Property
<br />including' all of Granter's personal property. located th*r*int.::.,,
<br />without deduction for depreciation, in- an amount approved. by,
<br />M-fteft'MA41py - but- fill I
<br />thereof, and •builderls risk iasurance, throughout the pe!ria3 oi';:::
<br />a ny a ' '' tiara of any improvements an the Property, (ii),; lag*
<br />can' tr uc
<br />and occupancy insurance covoring either rental- incme-or
<br />interruption with coverage in an amount not less than the.
<br />month*` anticipated; ,,.gross rental income, (iii) c0Vi*h4n$iV*`
<br />9*neral liability insuea'ace covering the Property and, Grantor in
<br />an amount not loss the $10, 000, 000.00 for bodily injiary. am, '/or
<br />property 'damage liability per occurrence or such - high-6r, ,.,amounts
<br />a0a
<br />as Beneficiary may ronably require, and (iv) work*r1'A,',.c'ow*pen-
<br />sation Aiis in accordance with the reVirew*nts.,6'g,r-:,.appl-
<br />urancip
<br />icable 4", which policies of-,insuramce maintained, purse ;Ant to
<br />this Sik�ion, 43 shall tirovide"-- -itandard - mortgagee .- 6 $~%
<br />ts or
<br />clauses ,* ing "Beneficiary a4',.*rt4ai3O and as ldti:ipayef (with
<br />respect.: oroperty. . Aftsur&n dO: additional '".0*4rod (with
<br />CraAtor
<br />114bility.• 'insurance) shall- ,provide to
<br />respect
<br />Atnef ic Jar y than I t
<br />'
<br />itty (30) day*, prior. 4riftei-,.Ptice
<br />of cancel lati6m:' or MOUi a 'tJ
<br />'f -any such, pol icits of 4-nsur-
<br />ance, and evidence of - -the ' `tt-Q-4.1 such insurance pol'idiies at
<br />O'V'*-:.,".:t'-,.'O"'--"'e'x'$�,it�ati'an..� Grantor shall also
<br />Yeast thirty (30) dayi�.pri
<br />insUiance,
<br />.4;sIntairil, at the request of i*f-i" -axy, such hazard
<br />?-.%a
<br />A;:,h.;
<br />sec addition to the insurance'
<br />;�ed abovi. as Benefic1
<br />reasonably request and as shA11-b6.,-.&4il-able, including
<br />liait*d,.*; to flood, includinci, -� siur. ka . ttw� waters, and-: eartLttq#&ker-
<br />,including subsidence, all of such insurance to d0gply. :`n. all
<br />rOapeCts with the requirements of this Sect idn'; 4'. S.
<br />(b) Renewal Policies. Not less thaft thirty (30)
<br />days prior to the expiration date of each insurance policy
<br />required pursuant to subsection 4.5(a) above, Grantor will
<br />deliver to Beneficiary an appropriate renewal policy �,Aor a
<br />certified copy thereof) , together with evidence satisfactory' to
<br />Beneficiary that the applicable,prenium has been prepaid.
<br />M Apiplicatign ot,-Mazard Insurance Proceeds.
<br />Any insurance proceeds recelved: by 'bile iCjatly With respect to in
<br />Insured,, casualty may, in Benaticiary' s s6ii discretion, either
<br />(i) be 4tained and applied by Beneficiary toward g4yment of the
<br />Secured Obligations, or (ii),be paid over, in whole or in part
<br />And subject to such conditi:�'ns as Beneficiary may impose, to
<br />.,:Grantor to pay for repairs 4r. replacements necessitated ,. bV the
<br />casualty; provided, so long.-4a no Event of Default shall wexist
<br />hereunder, then such proceeds shall be applied as set forth in
<br />ii) above if, pursuant to the provisions of any Pri i mary Lease or
<br />.Secondary Lease" (as hereinatter defined) Grantor is required
<br />,tjo undertake the repairs *�t replacements necessitated by the
<br />casualty; provided further,. that if all of the 9%tcured Obliga-
<br />_10-
<br />Li
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