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88- 104344 total or partial suspension of business operations of Mortgagor or its tenants and/or the loss of rents from the Mortgaged property as a result of casualty for a period of not less than six (6) months; and such other coverages as Mortgagee may require, all in such forms and coverages as Mortgagee may require. (c) All insurance shall be carried in companies approved by the Mortgagee, which approval will not be unreasollably withheld, and the policies and renewals thereof shall (i) be constantly assigned and pledged to the Mortgagee as additional security for the indebtedness secured by this mortgage and (ii) have attached thereto loss payable clauses in favor of and in form acceptable to the Mortgagee; (iii) provide that such insurance cannot be cancelled or modified in any material manner which is or may be detrimental to Mortgagee's interest, without 30 days prior written notice to the Mortgagee; (iv) provide that the insurer waives all claims for insurance premiums against the Mortgagee; and (v) provide that all losses shall be payable notwithstanding (a) any negligence by Mortgagor or Mortgagee, (b) any foreclosure or proceedings in lieu of foreclosure or other proceedings or notice of sale relating to the Mortgaged property, (c) any waiver of subrogation rights by the Mortgagor or (d) any change in ownership or title to the Mortgaged property. In default thereof, the Mortgagee may but in no way shall be obligated to effect such insurance and the amount paid therefor by Mortgagee shall become immediately due and payable by Mortgagor with interest at the default rate provided in the Note and shall be secured by this Mortgage. (d) Mortgagor shall cause certified copies of the original policies of all such insurance to be deposited with the Mortgagee or otherwise held as directed by Mortgagee. Thirty (30) days prior to the date on which the premiums on each such policy shall become due and payable, the Mortgagee shall be furnished by Mortgagor with proof reasonably satisfactory to Mortgagee of payment thereof or Mortgagor may pay such premium monthly, in advance, and furnish to Mortgagee proof of such payment as may from time to time be required by Mortgagee. (e) In event of loss Mortgagor will give immediate notice by mail to the Mortgagee, who may make proof of loss if not made promptly by Mortgagor. Mortgagor hereby authorizes and directs each insurance company concerned to make payment for any such loss to Mortgagor and Mortgagee jointly. Mortgagee specifically reserves the right to approve any settlement by Mortgagor of any claim under such insurance policies, which approval shall not be unreasonably withheld, and Mortgagor hereby authorizes Mortgagee, in the event Mortgagor does not enter into an approved settlement within one hundred twenty (120) days of the date of such loss, to settle and compromise all claims on such policies. The insurance proceeds', or any part thereof, net after payment of Mortgagee's expenses in obtaining such proceeds, shall be applied to the -4- LJ