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99103612
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Last modified
3/13/2012 5:07:55 PM
Creation date
10/20/2005 10:56:31 PM
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DEEDS
Inst Number
99103612
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. 99•l(�361z <br /> -5- <br /> determined annually by an insurer or qualified appraiser selected <br /> and paid for by Grantor and acceptable to Beneficiary, and in any <br /> event, in an amount sufficient to prevent Grantor from incurring <br /> any coinsurance liability; <br /> (b) if at any time the Property or any portion thereof is <br /> located in a "Flood Hazard Area" pursuant to the Flood Disaster <br /> Protection Act of 1973 (or any successor thereto), flood insurance in <br /> such total amount as Beneficiary shall reasonably require from time <br /> to time (or the maximum amount available, if less); and <br /> (c) insurance with respect to other insurable risks and <br /> coverages relating to the Property (including, without limitation, <br /> commercial general liability insurance (broad form), boiler <br /> insurance, builder's risk insurance and worker's compensation <br /> insurance) in such amounts and containing such terms and <br /> conditions as Beneficiary may reasonably require from time to time. <br /> Notwithstanding the foregoing, if and to the extent that the Lease <br /> requires Grantor to maintain insurance with respect to the Property <br /> providing for risks and coverages in addition to, or in amounts greater <br /> than, those required by this §2.5, then Grantor shall also comply with <br /> such requirements of the Lease. <br /> The Grantor shall deposit certified copies of all insurance policies <br /> (or certificates thereof acceptable to Beneficiary) providing coverage <br /> applicable to the Property, whether or not required by this Leasehold <br /> Deed of Trust, with Beneficiary forthwith after the binding thereof, and <br /> shall deliver to Beneficiary new policies (or certificates acceptable to <br /> Beneficiary) for any insurance about to expire at least thirty (30) days <br /> before such expiration. All such insurance policies (other than liability <br /> policies) shall be first payable in case of loss to Beneficiary by means of a <br /> standard non-contributory mortgagee clause, shall be written by such <br /> companies, on such terms, in such form and for such periods and amounts <br /> as Beneficiary shall from time to time approve, shall be primary and <br /> without right of contribution from other insurance which may be <br /> available, shall waive any right of setoff, counterclaim, subrogation, or <br /> any deduction in respect of any liability of Grantor and Beneficiary, shall <br /> provide that with respect to Beneficiary, the insurance shall not be <br /> invalidated by any action or inaction by Grantor including without <br /> limitation any representations made by Grantor in the procurement of <br /> such insurance, and shall provide that such policies shall not be cancelled <br /> or amended without at least thirty (30) days prior written notice to <br /> Beneficiary. All liability insurance policies shall include Beneficiary as <br /> BUSD005:723319.2 <br />
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