Development Agreement relating to Orono Woods Apartments 4-30-01

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with the benefits of a typical mortgagee clause, to the extent reasonably available. 5.3 Waiver. Landlord and Tenant hereby agree that Tenant will bear the entire risk of loss, for losses covered by a commonly available "all risk" form of insurance policy (including flood and earthquake), for the Improvements and any contents and facilities of Tenant contained therein. Tenant further agrees that Tenant on its own behalf and on behalf of anyone claiming through or under Tenant, by way of subrogation or otherwise, waives any and all claims and rights of action Tenant may have against Landlord and any of its agents, employees and contractors with respect to any losses or claims arising out of any damage to the Improvements, by losses covered by a commonly available "all risk" form of insurance policy (including flood and earthquake), whether or not such damage was caused by the negligence or other act or omission of Landlord or any of its agents, employees and contractors. 5.4 Landlord Right to Purchase Insurance. If Tenant shall fail to maintain insurance as required herein, Landlord shall have the right, if Tenant shall fail to obtain such insurance within 10 days after notice from Landlord, to purchase the same and charge the cost thereof to Tenant. Tenant shall reimburse Landlord therefor promptly upon receipt of an invoice, together with interest at the rate of 12%per annum from the date paid by Landlord. ARTICLE 6 FINANCING 6.1 Mortgages. Tenant's interest in this Lease, the Development Property, the Improvements, or any combination thereof may be encumbered only as provided by the Financing Documents and the Development Agreement. 6.2 Notice. If any Holder registers with Landlord its name and address in writing by registered or certified mail, Landlord shall by registered or certified mail, return receipt requested, addressed as registered with Landlord, give such Holder a copy of any notice or other communication with respect to any claim that a default exists or is about to exist under this Lease and a copy of any notice changing Landlord's address. Any notice given to a Holder shall be deemed duly served when personally delivered to an officer of Holder or mailed in accordance with Section 9.1. 6.3 Performance. If Tenant fails to make any payment or perform any act required of Tenant under this Lease, then any Holder may(but shall not be obligated to)to the extent permitted under its Mortgage make such payment or perform such act with the same effect as if made or performed by Tenant. Entry by a Holder upon the Development for such purpose or partial performance of the Mortgage shall not waive or release Tenant from any obligation or default under this Lease except for an obligation or default fully performed or cured by Holder. 6.4 New Lease. (a) If(i)this Lease is rejected or disaffirmed pursuant to bankruptcy law or other law affecting creditor's rights, (ii) Holder gives written request to Landlord not later than 30 days after the effective date of such rejection or disaffirmance, (iii) Holder