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200109054 (iii) If the Property or any part thereof is located in a designated official flood - hazardous area, flood insurance insuring the Improvements now existing or hereafter erected in the flood hazard areas on the Premises in an amount equal to or greater than the principal balance of the Obligations. (iv) Comprehensive general liability insurance with such limits, coverages, risks insured and with waiver of subrogations clauses protecting against claims arising from any accident or occurrence in or upon the Property in an amount and in such form as shall be acceptable to the Credit Enhancer. (b) Policy Provisions. All insurance policies and renewals thereof maintained by Grantor pursuant to this Section 2.03 (collectively, the "Policies" and individually, "Policy ") shall (i) be written by an insurance carrier with general policy holder's rating of not less than A+ and a financial rating of not less than Class 6 as rated in the most recent Best Insurance Reports, or such other rating organization selected by the Credit Enhancer if Best should cease providing such ratings, and licensed to do business in the state where the Property is located and authorized to issue such Policy, (ii) contain a standard non - contributory mortgagee clause in favor of the Grantee and in form acceptable to the Credit Enhancer, (iii) contain an agreement of the insurer in form satisfactory to the Credit Enhancer that it will not cancel or modify the Policy except after thirty (30) days' prior written notice to Grantee, (iv) provide breach of warranty protection to Grantee, and (v) be satisfactory to the Credit Enhancer in all other respects. (c) Delivery of Policy. Grantor will deliver to Grantee certified copies of Policies in form satisfactory to the Credit Enhancer evidencing the insurance which is required by this Section, and Grantor shall promptly furnish to Grantee copies of all renewal notices and all receipts of paid premiums received by it. At least thirty (30) days prior to the expiration date of a Policy, Grantor shall deliver to Grantee a renewal Policy in form satisfactory to Grantee. If the Grantor has a blanket Policy in force providing coverage for several properties of the Grantor, including the Property, Grantor will deliver to Grantee a certified copy of such blanke Policy; which original Policy (1) is written by a carrier or carriers acceptable to the Credit Enhancer, (ii) insures against the risks set forth hereinabove, (iii) cannot be amended, modified or canceled without thirty (30) days' prior written notice to Grantee, and (iv) is in amounts satisfactory to the Credit Enhancer. (d) Assignment of Policy. If the Property or any part thereof is sold at a foreclosure sale or if Grantee shall acquire title to the Property or any part thereof, Grantee shall have all of the right, title and interest of Grantor in and to any Policies and the unearned premiums thereon and in and to the proceeds resulting from any damage to the Property prior to such sale or acquisition. (e) Other Insurance. Grantor shall obtain such other insurance coverage (and in such form) as the Credit Enhancer shall from time to time require, including, without limitation, earthquake, tornado and/or hurricane insurance. (f) Notice of Damage or Destruction; Adjusting Loss. If the Property or any part thereof shall be damaged or destroyed by fire or other casualty, Grantor will promptly give written notice thereof to the insurance carrier and Grantee, and will not adjust any damage or loss unless Grantee shall have joined in such adjustment, Grantee or Trustee, acting jointly or severally, may make proof of loss, adjust and compromise any claim under the Policies and appear in and prosecute any action arising from such Policies. In connection therewith, Grantor does hereby irrevocably authorize, empower and appoint Grantee and Trustee (acting jointly or severally) as attorney -in -fact for Grantor (which appointment is coupled with an interest) to do any and all of the foregoing in the name and on behalf of Grantor.