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81006051
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Last modified
1/14/2010 11:27:41 PM
Creation date
1/14/2010 11:27:18 PM
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DEEDS
Inst Number
81006051
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<br />$~,,..~ ~at~~~}5~. <br />Seoti.on 2.2 The Sublessee agrees to pay all fees and costs <br />S.~IOUr~'e ~ the a+cquis3tiom of insurance coverage with an insurer <br />ox insurers =~~ -~ptable to the Trustee, th+e County of Hall, and <br />the Sx~b'lessor, which is rated A or' better by A. M.. Best Company <br />for 1981, and which is qualified to do business in the State of <br />Nebraska in respect to the following insurance coverages: <br />(a} "A1~ risk" property insurance in an amount <br />(irrespective of any provision making the Sublessee a eo-insurer) <br />not less than the lesser of (1) the total unpaid principal amount <br />of, in the total interest accrued on, all revenue bands in <br />respect to the Project then outstanding, or {2) the full <br />insurable value of the prog~rty; <br />4b) The Sublessee shall require that ''he standard <br />exclusion for explosion, collapse or underground explosion be <br />waived and that this coverage be a part of the Sublessee's <br />insurance program; <br />(c) Comprehensive general liability insurance on an <br />occurrence basis with limits far personal liability of Five <br />Hundred Thousand Dollars ($500,000.00) for each person and One <br />Million Dollars ($1,000,000.00) for each occurrence and property <br />damage insurance with a limit of One Million Dollars <br />($1,000,000.00); <br />(d) Comprehensive automobile liability insurance on an <br />occurrence basis with limits for personal liability of One <br />Hundred Thousand Dollars ($100,000.00) for each person and Five <br />Hundred Thousand Dollars ;$500,000.00} for each occurrence and <br />property damage insurance with a limit of One Hundred Thousand <br />Dollars ($100,000.00); <br />(e) Workmen's compensation coverage, whether through <br />procurement of an appropriate policy of workmen's compensation <br />insurance or as a self-insurer, as provided fox° and rec(uired by <br />law of the State of Nebraska; <br />(f) Use and occupal~ey or business' inte.rruptia.a <br />insurance in an amount at least equal to the rental payments as <br />showxl on Exhibit "C"; ar~d <br />(g) Until the. eampleR:iat~ cif the ~ro_~eet. to t~~e extent <br />not e~avered by the other polii.e o~atai;xed puruax:t to ..his <br />Section. the Sublessee shall purchaso or o~+ase to (` „e p•II'~~ `'-a_'= <br />"builders risk" insurance to the extent of the full insurable <br />value of the building. So long as revenue bonds are outstanding, <br />all insurance policies carried on the Project shall name khe <br />Sublessor, the County of Hall and the Trustee as parties insured <br />thereunder as the respective interest of each may appear. <br />-lam <br />~I <br />) <br />
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