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ownership or operation of automobiles (or other motor vehicles) and shall be endorsed to <br />show Lessor as additional insured. <br /> <br />(03) Such other insurance, including worker's compensation insurance respecting all <br />employees of Lessee, in such amount as is customarily carried by like organizations engaged <br />in like activities of comparable size and liability exposure. <br /> <br /> 6.3) Insurance Policies - All insurance required by this Article 6 shall be in form and <br />content satisfactory to Lessor and taken out and maintained in financially sound and responsible <br />insurance companies selected by Lessee which are authorized under the laws of Minnesota to assume <br />the risks covered thereby. Lessee will deposit annually with Lessor policies evidencing all such <br />insurance, or a certificate or certificates or binders of the respective insurers stating that such <br />insurance is in force and effect. Unless otherwise provided in this Article 6, each policy shall contain <br />a provision that the insurer shall not cancel or modify it without giving written notice to Lessee and <br />Lessor at least thirty (30) days before the cancellation or modification becomes effective. Not less <br />than fifteen (15) days prior to the expiration of any policy, Lessee shall furnish Lessor evidence <br />satisfactory to Lessor that the policy has been renewed or replaced by another policy conforming to <br />the provisions of this Article 6, or that there is no necessity therefor under the terms hereof. In lieu <br />of separate policies, Lessee may maintain a single policy, blanket or umbrella policies, or a <br />combination thereof, having the coverage required herein, in which event Lessee shall deposit with <br />Lessor a certificate or certificates of the respective insurers as to the amount of coverage in force <br />upon the Improvements. <br /> <br /> 6.4) Insurance Proceeds - Lessee will notify Lessor immediately in the case of damage to, <br />or destruction of, the Improvements or any portion thereof resulting from fire or other casualty. <br /> <br />(01) If the Improvements or any portion thereof are destroyed by fire or other casualty <br />Lessee shall, within thirty (30) days after such damage or destruction, proceed forthwith to <br />repair, reconstruct and restore the damaged Improvements to substantially the same condition <br />or utility value as they existed prior to the event causing such damage or destruction and, to <br />the extent necessary to accomplish such repair, reconstruction and restoration, Lessee will <br />apply the Net Proceeds of any insurance relating to such damage or destruction received by <br />Lessee from Lessor to the payment or reimbursement of the costs thereof. <br /> <br />(02) If Lessee is in compliance with the terms and conditions of this Lease Agreement, then <br />any Net Proceeds of insurance relating to such damage or destruction received by Lessor shall <br />be released from time to time by Lessor to Lessee upon the receipt of: <br /> <br />(a) <br /> <br />A certificate of an authorized representative of Lessee specifying the <br />expenditures made or to be made or the indebtedness incurred in connection <br />with such repair, reconstruction and restoration and stating that such Net <br />Proceeds, together with any other moneys legally available for such purposes, <br />will be sufficient to complete such repair, construction and restoration; and <br /> <br />BURNIS 566679.3 7 of 22 <br /> <br /> <br />