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86-- 103283 <br />or any Improvement ancillary to any of them or to any person <br />except as to patent defects. <br />ARTICLE IX <br />COVENANTS RE: INSURANCE <br />Section 9.1. Property Insurance. The Owner and Tenant of <br />Lot I shall separately keep the Parking Lot insured and the <br />Owners and Tenants of Lots 2 and Owner of Lot 3 shall jointly <br />keep the entire Parking Garage insured against all risk of physi- <br />cal loss and such other perils, risks, casualties and hazards as <br />may from time to time be carried by prudent owners of buildings <br />in the City of Grand Island, in an amount at least equal to one <br />hundred percent (100%) of the full replacement value of the <br />Improvements thereof excluding the cost of land, excavation and <br />of foundations, piers or other supports which are below the sur- <br />face with a $1,000 deductible paid by the Tenant of Lot 2 and <br />Owner of Lot 3 based upon Lot 2's and Lot 3's percentage ratio of <br />Extraordinary Maintenance. Such policies on the Parking Garage <br />shall be secured by the Owner of Lot 3 in trust for itself and <br />Tenant of Lot 2 and such policies on the Parking Lot shall be <br />secured by the Owner of Lot 1 in trust for itself and the Tenant <br />of Lot 1. All insurance policies required hereunder for the <br />Parking Garage and Parking Lot shall be issued by insurance <br />companies authorized to do business in Nebraska having a current <br />Best's rating of at least A, shall Name as parties insured, as <br />their interests may appear, (i) each of the Owners and Tenants of <br />record of Lots 1, 2 and 3, (ii) at the request of any Party, any <br />lessee or mortgagee of all or any portion of the properties owned <br />-19- <br />IN <br />i <br />