201005525 - Laserfiche WebLink

Browse

201005525 Section 3.06. Preservation of Franchises and Compliance with Laws. The Grantor will take or cause to be taken all such action as may from time to time be necessary to obtain, preserve and renew all franchises, rights of way, easements, permits, and licenses now or hereafter granted or upon it conferred necessary to the operations of the Grantor,. and will comply in all material respects with all laws, ordinances, regulations, and requirements applicable to it ar the 't'rust Estate. Section 3.0'1. Maintenance of Trust Estate. The Carantor will at all times maintain and preserve the `t`rust Estate and each and every material part and parcel thereof in good repair, working order and condition, ordinary wear acid 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 't'rust Estate, ar any part thereof, with adequate services furnished by the Grantor. Section 3.0$ Insurance. (A) Risks to be Insured. The Grantor, al its sale cast and expense, shall maintain insurance of the following character: (1) Insurance on the buildings and other improvements now existing or hereafter erected nn the Land and on the Cxtures and personal properly included in the '['rust Estate against lass 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 far depreciation) as such replacement cost shall be determined from time to time at the request of the Beneficiary. The Grantor shall at ils sale cost and expense, from time fa lime 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 Cstate. While any building ar other improvement is in the course of being constructed or rebuilt on 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 I"ar an amount equal to 100% of the insurable replacement value of such building or other irllprovement. (2) If the Trust Estate includes steam boilers oz other equipment for the generation or transmission of steam, insurance against loss or damage by explosion, rupture or 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. 6