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operations shall be evaluated at least once every five years by the Insurance <br /> Consultant, who shall prepare and deliver to the Trustee a report as to the <br /> Insurance Consultant's recommendations for any changes in the then current <br /> insurance coverage required so that such insurance coverage is no less than the <br /> coverage which is customary for like organizations and businesses,including in <br /> such evaluation the particular risks insured, the amount of insured loss <br /> coverage, and exclusions from coverage. Thereafter, the Borrower shall <br /> promptly procure the any recommended additional insurance coverage. <br /> Damage or Destruction <br /> The Borrower agrees to notify the Trustee immediately in the case of damage <br /> to, or destruction of, the Project Facilities or any portion thereof, resulting from fire <br /> or other casualty, estimated to exceed $100,000 in amount, which notice shall be <br /> followed as promptly as practicable by a description of the damage or destruction,the <br /> estimated costs to repair the same, and the sources of funds expected to be utilized in <br /> the repair or replacement of the Project Facilities. In the event that the Net Proceeds <br /> for such damage shall not exceed $250,000 and no Default has occurred and is <br /> continuing,the Net Proceeds shall be paid to the Borrower,who shall forthwith repair, <br /> reconstruct and restore the Project Facilities to substantially the same condition and <br /> value as existed prior to the event causing such damage and,to the extent necessary to <br /> accomplish such repair, reconstruction and restoration, the Borrower will apply the <br /> Net Proceeds to the payment or reimbursement of the costs thereof. <br /> If a Default has occurred and is continuing,all Net Proceeds shall be deposited <br /> with the Trustee for application in accordance with the Indenture. In the event the <br /> Project Facilities or any portion thereof is destroyed by fire or other casualty and Net <br /> Proceeds exceed $250,000, all Net Proceeds shall be deposited with the Trustee for <br /> credit to the Insurance and Award Account, unless the Borrower shall notify the <br /> Trustee of the Borrower's election to redeem all then redeemable outstanding Bonds <br /> as hereinafter provided, in which case all Net Proceeds shall be deposited in the <br /> Optional Redemption Fund for redemption of Bonds available to be redeemed because <br /> of such destruction or casualty. Notwithstanding the foregoing, Net Proceeds from <br /> business interruption insurance shall be deposited in the Revenue Fund as a portion <br /> of Monthly Net Project Revenues. <br /> If Net Proceeds from the damage or destruction is estimated to exceed$250,000, <br /> then the Borrower shall within 60 days after such damage or destruction elect one of <br /> the following two options by written notice of such election to the Trustee: (a) the <br /> Borrower may elect to repair, reconstruct and restore the damaged Project Facilities; <br /> provided that the Borrower certifies in writing to the Trustee that such repair, <br /> reconstruction or restoration is reasonably expected to be completed within twelve(12) <br /> months after the damage or destruction, or (h) in the event that the Borrower shall <br /> deliver to the Trustee a written estimate by an Independent person qualified to express <br /> such opinion (including an Independent licensed architect) that that the Project <br /> Facilities cannot be rebuilt,restored or replaced within 12 months from the date of the <br />