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

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continue during the interruption of business, for such length of time as may be required with the exercise of due diligence and dispatch to rebuild,repair or replace such properties as have been damaged or destroyed, with limits equal to at least 100% of the maximum principal and interest scheduled to be due on all Senior Indebtedness and all Bonds for any current or subsequent Fiscal Year. (d) Until the Completion Date,and at any time when any construction or improvement valued at more than$100,000 is being undertaken,insurance for the Project or such construction or improvement,under an All-Risk,Completed Value,Non-Reporting Form policy with coverage for 100% of the completed value, with delayed completion coverage, collapse coverage, and special cause of loss coverage. In addition,any general contractor shall maintain with respect to the work insurance for liability and worker's compensation no less in coverage than is required by this Agreement with respect to the Borrower. (e) Such other insurance, including workers' compensation insurance respecting all employees of the Borrower, in such amount as is customarily carried by like organizations engaged in like activities of comparable size and liability exposure; provided that the Borrower may be self-insured with respect to all or any part of its liability for workers' compensation. (0 In addition to the foregoing,all insurance coverage carried by or on behalf of the Borrower with respect to the Project Facilities and it operations shall be evaluated at least once every five years by the Insurance Consultant,who shall prepare and deliver to the Trustee a report as to the Insurance Consultant's recommendations for any changes in the then current insurance coverage required so that such insurance coverage is no less than the coverage which is customary for like organizations and businesses,including in such evaluation the particular risks insured,the amount of insured loss coverage, and exclusions from coverage. Thereafter, the Borrower shall promptly procure the any recommended additional insurance coverage. All insurance required in this Section shall be taken out and maintained in responsible nationally recognized insurance companies rated not less than"A"by Best's Insurance Guide selected by the Borrower which are authorized under the laws of Minnesota to assume the risks covered thereby. The Borrower will deposit annually on May 1 of each year with the Trustee a certificate of compliance with the provisions hereof. Each policy shall contain a provision that the insurer shall not cancel or modify it without giving written notice to the Borrower and the Trustee at least thirty (30) days before the cancellation or modification becomes effective. In lieu of separate policies, the Borrower may maintain a single policy, blanket or umbrella policies, or a combination thereof,having the coverage required herein. Section 5.10 Damage or Destruction. The Borrower agrees to notify the Trustee immediately in the case of damage to,or destruction of,the Project Facilities or any portion thereof,resulting from fire or other casualty, estimated to exceed $100,000 in amount, which notice shall be followed as promptly as practicable by a description of the damage or destruction,the estimated costs to repair the same, and the sources of funds expected to be utlilized in the repair or replacement of the Project Facilities. In the event that the Net Proceeds for such damage shall not exceed$250,000 and no Default has occurred and is continuing, the Net Proceeds shall be paid to the Borrower, who shall forthwith repair, reconstruct and restore the Project Facilities to substantially the same condition and value as existed prior to the event causing such damage and,to the extent necessary to accomplish such repair,reconstruction and restoration, the Borrower will apply the Net Proceeds to the payment or reimbursement of the costs thereof. -35-