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20~ooo15i days prior to the expiration date of each of the Policies, Borrower shall deliver to Lender satisfactory evidence of the renewal of each Policy. (d) Notwithstanding any provision herein to the contrary, Borrower shall be deemed to be in compliance with all insurance requirements hereunder if Lessee is in compliance with the provisions of the Lease regarding insurance requirements (including the self-insurance provisions of the Lease). (e) If the Mortgaged Froperty shall be damaged or destroyed, in whole or in part, by fire or other casualty, Borrower shall give, or cause to be given, prompt notice thereof to Lender. Except as otherwise provided in the Lease, Borrower shall not settle or adjust or permit the settlement or adjustment of any insurance clailxl without Lender's prior written consent. All insurance proceeds required to be applied to restoration and repair of the Mortgaged Property under the Lease shall be held and disbursed in accordance with the provisions of the Lease for such restoration and repair subject to compliance with the following conditions: (i) no Lease Default (as defined in paragraph 21(p) hereof), then exists (ii) Borrower or Lessee, as the case may be, proceeds promptly after the insurance claims are settled with the restoration or repair; and (iii) the restoration ar repair is performed in compliance with the Lease and all applicable laws, rules and regulations. The Net Award (hereinafter defined) shall be paid to Lessee, subject to the terms of the Lease; provided that if a Lease Default then exists, the Net Award will be paid to Lender and shall be applied by Lender toward payment of the Debt and such application shall not be subject to Make Whole Premium or other prepayment consideration. The term "Net Award" as used in this Security Instrument shall mean all insurance proceeds and condemnation awards, as applicable, net of any reasonable expenses of Lender or Borrower in collecting such amounts, which are not required to be disbursed for repair and restoration of the Mortgaged Property pursuant to the Lease. (fj Borrower acknowledges Lender's right to obtain (either itself or by its agents, servicers, nominees or attorneys) at the expense of Borrower any insurance required hereunder should Borrower fail to or cause Lessee to do so as required hereunder. (g) Notwithstanding anything to the contrary contained in this paragraph 3, if a casualty event shall affect the Mortgaged Property, and Lessee properly and timely delivers a termination notice pursuant to paragraph 12 of the Lease to Borrower and Lender, then Lender shall prosecute a claim under the policy of special condemnation and casualty insurance issued by Lexington Insurance Company to Lender, and the proceeds of such claim shall be used to prepay the Debt in full (but without Make Whole Premium or other prepayment consideration). ~. Payment of Taxes, etc. -11- 15445229.4.BUSINESS