200907310 - Laserfiche WebLink

Browse

20o9o~3io the Trust Estate. Section 3.07. Maiutenance of Trust Estate. The Grantor will at all times maintain and preserve the Trust Estate and each and every material part and parcel thereof in good repair, working order and condition, ordinary wear and tear excepted, and in material compliance with all applicable laws, ordinances, regulations, and requirements, and will from time to time make all needed and proper repairs, renewals, and replacements, and useful and proper alterations, additions, betterments and improvements, and will, subject to contingencies beyond its reasonable control, at all times keep its plant and properties in continuous operating condition and use all reasonable diligence to furnish the consumers served by it through the Trust Estate, ar any part thereof, with adequate services furnished by the Grantor. Section 3.08 Insurance. (A} Risks to be Insured. The Grantor, at its sole cost and expense, shall maintain insurance of the following character: (1) Insurance on the buildings and other improvements now existing or hereafter erected on the Land and on the fixtures and personal property included in the Trust Estate against loss by fire and other hazards covered by the so-called "all-risk" (or special causes of loss) form of policy without a co-insurance clause in an amount equal to the full replacement cost thereof (without deduction for depreciation) as such replacement cost shall be determined from time to time at the request of the Beneficiary. The Grantor shall at its sole cost and expense, from time to time and at any time, at the request of the Beneficiary, provide the Beneficiary with evidence satisfactory to the Beneficiary, of the replacement cost of the Trust Estate. While any building or other improvement is in the course of being constructed or rebuilt an the Land, the Grantor shall provide the aforesaid hazard insurance in builder's risk completed value form, including coverage available on the so-called "all-risk" (or special causes of loss) non-reporting form of policy for an amount equal to 100% of the insurable replacement value of such building or other improvement. (2) If the Trust Estate includes steam boilers ar other equipment far the generation or transmission of steam, insurance against lass or damage by explosion, rupture ar bursting of steam boilers, pipes, turbines, engines and other pressure vessels and equipment, in an amount satisfactory to the Beneficiary, without a co-insurance clause. (3) Comprehensive general liability insurance protecting against claims arising from any accident or other occurrence in or upon the Trust Estate in an amount acceptable to the Beneficiary. (4) Such other types of insurance on the Trust Estate or any part thereof as may be deemed reasonably necessary by Beneficiary from time to time, including non reporting type Contractor's Multiple Perils (all risk) Builder's risk insurance written on a "completed value basis" in an amount equal to 100% of the replacement costs of the .all improvements located on the Land during the period ar periods of construction of any improvements upon the Land. 6