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~~ d3~'~~ <br />~~ <br />A. Borrower shall keep the improvements sow existing or hereafter erected on <br />the property 3asured against lose by fire, hazards Sacluded within the term <br />"extes-ded coverage", and such other hazards as Lender may require, in the <br />amount equal to the loss balance, or for not less than 1002 of the full <br />replacement value of the improvements, whichever is greater, as established <br />by a competent insurance appraiser, Comprehensive general public liability <br />insurance will also be obtained, in a company acceptable to the Lender, for <br />an 9~unt not less than $300,000 combined single limit. Rental value <br />insurance equal to the rental value for a sic-•maatb period, as established <br />by a competent insurance appraiser, shall also be carried throughout the <br />Lean of the logn. <br />B. The Borrower shall furnish to the Lender, within ninety daps following the <br />end of each fiscal year, the annual audited financial statements of Grand <br />Island Hardware Company, with said statements to include a ba~ance sheet, <br />profit sad loss statement, and any supplemental schedules. <br />c. The property shall be operated continually during the loan term as as <br />Ace Hardware Corporation distributor, under that Ace Dealer Membership <br />Agreement, dated December 16, 1975. I€ at say time during the loan term <br />the property shall cease to be operated, regardless of cause, as an Ace <br />Bardware Corporation distributor, under the referenced M®bership <br />Agreement, leader shall have the sole right and option to declare the <br />unpaid principal balance immediately due and payable. <br /> <br /> <br />