11-14-01 2. LOAN AGREEMENT - Laserfiche WebLink

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or privilege;provided,however,that prior to any such grant or release,there shall have been supplied to the Trustee a Certificate of the Authorized Borrower Representative to the effect(i)that such grant or release is not detrimental to the proper operation of the Project Facilities,and(ii)that such grant or release will not impair the operating unity or the efficiency of the Project Facilities on such Land or materially and adversely affect the character thereof. Section 5.09 Insurance. The Borrower shall maintain,or cause to be maintained,at its cost and expense, insurance as follows: (a) Insurance against loss and/or damage to the Mortgaged Property under a policy or policies covering such risks as are ordinarily insured against by similar businesses, including (without limiting the generality of the foregoing) fire and extended coverage in an amount not less than 100%of the full insurable replacement value of the Project Facilities,but any such policy may have a deductible amount of not more than$100,000. No policy of insurance shall be so written that the proceeds thereof will produce less than the minimum coverage required by the preceding sentence, by reason of co-insurance provisions or otherwise, without the prior consent thereto in writing by the Trustee (based on a report of an Independent Consultant). The term "full insurable replacement value" shall mean the actual replacement cost of the Project Facilities (excluding foundation and excavation costs and costs of underground flues,pipes,drains and other uninsurable items)and equipment,and shall be determined or redetermined on the fifth anniversary hereof and every fifth anniversary thereafter, by an Insurance Consultant. All policies evidencing insurance required by this subparagraph(a)with respect to the Project Facilities shall be carried in the names of the Borrower and the Trustee as their respective interests may appear and shall contain standard mortgage clauses which provide for Net Proceeds of insurance resulting from claims per casualty thereunder to the Project Facilities which are less than $250,000 for loss or damage covered thereby to be made payable directly to the Borrower,and Net Proceeds from such claims which are equal to or in excess of$250,000 to be made payable directly to the Trustee. The Net Proceeds of such insurance required by this paragraph(a)with respect to the Project Facilities shall be applied as provided in Sections 5.10 and 5.11 hereof. (b) Comprehensive general public liability insurance, including personal injury liability, and, if the Borrower owns or leases any automobiles, automobile insurance,including owned,non-owned and hired automobiles,against liability for injuries to persons and/or property,in the minimum amount for each occurrence and for each year of$1,000,000, for public liability not arising from ownership or operation of automobiles(or other motor vehicles),and in the minimum amount of $500,000 for each occurrence and for each year for liability arising out of ownership or operation of automobiles (or other motor vehicles) and shall be endorsed to show the Trustee as an additional insured. (c) Business interruption insurance covering actual losses in gross operating earnings of the Borrower resulting directly from necessary interruption of business caused by damage to or destruction of real or personal property constituting part of the Project Facilities(for a period of at least twelve months commencing 30 days after such damage or destruction), less charges and expenses which do not necessarily -34-