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200305038 (d) The Grantor shall not maintain additional or separate insurance concurrent in form or contributing in the event of loss with the insurance required under this Section, unless (i) the policies providing such additional or separate insurance are submitted to the Beneficiary for its approval; (ii) the insurers under such policies and the terms thereof are approved by the Beneficiary, which approval shall not be unreasonably withheld; and (iii) the Beneficiary and the other Secured Parties are included in such policies as loss payees or additional insureds. (e) If the Grantor fails to maintain the Insurance Policies required to be maintained under this Section, the Beneficiary shall have the right to obtain such Insurance Policies and pay the premiums therefor. If the Beneficiary obtains such Insurance Policies or pays the premiums therefor, upon demand, the Grantor shall reimburse the Beneficiary for its expenses in connection therewith, together with interest thereon, pursuant to Section 4.03. Section 3.02. Casualty And Condemnation. (a) In the event of any Casualty or Condemnation (a "Loss "), (i) if the Insurance Proceeds or Awards (the "Proceeds ") with respect to such Loss amount to $250,000 or more or, in the case of a Condemnation, such Loss has or could reasonably be anticipated to have a Material Adverse Effect or, if an Event of Default has occurred and is continuing, the Grantor (A) shall promptly give notice of such Loss to the Beneficiary describing in detail reasonably satisfactory to the Beneficiary the nature and extent of the such Loss and (B) shall have no right to settle, and shall not settle, any claim or proceeding relating to such Loss or Proceeds without the consent of the Beneficiary; (ii) if an Event of Default has occurred and is continuing, the Proceeds with respect to such Loss shall be paid to the Beneficiary to be applied and disbursed as provided in clause (b) of this Section; (iii) if the Proceeds with respect to such Loss amount to less than $250,000 and, in the case of a Condemnation, such Loss cannot reasonably be anticipated to have a Material Adverse Effect or if no Event of Default has occurred and is continuing, (A) the Grantor shall not have to obtain the consent of the Beneficiary to settle any claim for such Proceeds and (B) such Proceeds shall be paid to the Grantor who shall use the same to pay the cost of Restoration of the Property and such Restoration shall be performed in accordance with the following: In the event of any Loss, the Grantor shall promptly commence and diligently pursue to completion the Restoration of such Property, subject to Unavoidable Delays, whether or not the Insurance Proceeds with respect to such Loss available to the Grantor to pay the cost of Restoration are sufficient; (iv) if the Proceeds with respect to such Loss amount to $250,000 or more or, in the case of a Condemnation, such Loss has or could reasonably be anticipated to have a Material Adverse Effect or if no Event of Default has occurred and is continuing such Proceeds shall be paid to the Beneficiary to be applied and disbursed as provided in clause (c) of this Section, provided that the Grantor shall not be required to pay any amounts described in clause (i) of the definition of "Insurance Proceeds" to the Beneficiary until and unless required to do so pursuant to clause (c) of this Section; and (v) if Insurance 23 (NY) 04675/ 120 /REAUNEBRASKA/form.dot.NE.doc