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85- 004553 destroyed as a result of a casualty as to which insurance is not required under the terms of this Mortgage, the Borrower shall, at its option, promptly after such damage, loss or destruction, either expend for repairs, restoration or replacement of the property damaged, lost or destroyed such sum as may be required therefor or pay such sum to the Trustee for deposit to the credit of the Bond Fund. Nothing in this Mortgage shall be construed (i) as obligating the Issuer in any way or to any extent to repair, restore or replace the Project, or any part thereof, except from funds made available as provided in Sections 5, 6 and 7 hereof, or (ii) as relieving any contractor or other third party from any obligation or duty it may have respecting the repair, restoration or replacement of any part of the Pro- ject. In the event the Borrower shall at any time neglect or refuse to procure or maintain insurance as herein required, either the Trustee or the Issuer may at its option procure and maintain such insurance and the Borrower shall be obli- gated to reimburse the Issuer or the Trustee within 30 days, as the case may be, for all amounts expended in connection therewith. No acceptance or approval of any insurance policy by the Issuer or the Trustee shall relieve or release the Borrower from any liability, duty or obligation under the provisions of this Mortgage. No claim shall be made and no suit or action at law or in equity shall be brought by the Issuer or by anyone claim- ing by, through or under the Issuer against the Borrower for any damage to the Project, however caused, to the extent the same is covered by insurance as in Section 5 required, provided nothing in this section shall diminish the Bor- rower's obligation to repair or rebuild as provided in Section 7. The Borrower shall furnish to the Issuer a mortgagee title insurance policy or binder issued by a title insurance company acceptable to the Trustee, with loss payable to the Trustee in the amount of Six Hundred Fifty Thousand Dollars ($650,000). Such title insurance policy may except Permit- ted Encumbrances from its coverage. The Issuer and the Borrower agree that any proceeds from such policy: (a) if received before completion of the Project shall be paid into and become a part of the Project Fundj (b) if received thereafter but before the Bonds and interest have been fully paid, shall be paid into and become a part of the Bond Fund; and -B-