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85- 004553 Section 5. Insurance Required to be Carried. The Borrower shall during the term of this Mortgage, keep and maintain the Project continuously insured. The Borrower bears the sole responsibility for the procurement and pay- ment of premium for all of the insurance required by this section. The insurance coverages shall include but are not limited to the following: (a) "all risk" property insurance in an amount (irrespective of any provision making the Borrower a co- insurer) not less than the lesser of (i) the total unpaid principal amount of, and the total interest accrued on, the Bonds then outstanding, or (ii) the full insurable value of the property; (b) comprehensive general liability insurance on an occurrence basis with limits for personal liability of $500,000 for each person or for each occurrence with a $10,000,000 umbrella; (c) comprehensive automobile liability insurance on an occurrence basis with limits for personal liabil- ity of $500,000 for each occurrence and property damage insurance with a limit of $ ; (d) workmen's compensation coverage, whether through procurement of an appropriate policy of work- men's compensation insurance or as a self- insurer, as provided for and required by the laws of Nebraska; Any insurance policy required under this Section 5 (i) shall be by an insurer (or insurers), acceptable to the Trustee and which is qualified to do business in Nebraska, (ii) shall be in such form and with such provisions (includ- ing, without limitation, the loss payable clause, the waiver of subrogation clause, relieving the insurer of liability to the extent of minor claims and the designation of the named insureds) as are generally considered standard provisions for the type of insurance involved, and (iii) which shall prohibit cancellation or substantial modification by the insurer without at least thirty (30) days' prior written notice to the Trustee. without limiting the generality of the foregoing, so long as the Bonds are outstanding, all insurance policies carried on the Project shall name the Borrower, the Issuer and the Trustee as parties insured thereunder as the respec- tive interest of each of such parties may appear. Loss thereunder shall be made payable and shall be applied as provided in this section. Each such policy shall provide that losses thereunder shall be adjusted with the insurer by the Borrower at its expense on behalf of the insured part- -6- L I