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(i) hazard and fire insurance on the improvements now existing or <br /> hereafter constructed on the Land insuring against loss by fire, hazards included <br /> in the term "extended coverage," loss by vandalism or malicious mischief, and <br /> such other hazards, casualties and contingencies as may be required by <br /> Mortgagee, on the basis of replacement cost without a coinsurance clause, in an <br /> amount equal to the full replacement cost thereof (without deduction for <br /> depreciation) or such additional amounts and for such periods as may be required <br /> by Mortgagee; <br /> (ii) comprehensive general public liability insurance covering the <br /> liability of Mortgagor against claims for bodily injury, death or property damage <br /> occurring on or about the Mortgaged Property in such minimum amounts and <br /> limits as Mortgagee may require but in no event, less than $2,000,000.00 <br /> combined single limit per occurrence and naming Mortgagee as an additional <br /> insured; <br /> (iii) insurance covering the Mortgaged Property against loss or damage <br /> by explosion, rupture or bursting of steam boilers, steam pipes, steam turbines, <br /> steam engines or pressure vessels or fly wheels located on or a part of the <br /> Mortgaged Property and providing for full repair and full replacement cost <br /> coverage; and <br /> (iv) such other forms of insurance in such minimum amounts as <br /> Mortgagee may reasonably require or as may be required by law. <br /> Mortgagor shall pay or cause to be paid all premiums on insurance required <br /> hereunder by making payment directly to the insurer. Mortgagee shall have the <br /> right to hold the policies and renewals thereof, and Mortgagor shall promptly <br /> furnish to Mortgagee all such policies, renewals thereof, renewal notices and all <br /> paid-premium receipts received by it. All policies of insurance and any and all <br /> refunds of unearned premiums are hereby assigned to Mortgagee as additional <br /> security for the payment of the Obligations secured hereby. In the event of <br /> foreclosure of this Mortgage, all right, title and interest of Mortgagor in and to <br /> any insurance policies then in force shall pass to the purchaser at the foreclosure <br /> sale. <br /> (b) The policies of all such insurance shall have mortgagee and loss payable <br /> provisions in favor of Mortgagee. All such insurance shall be in form acceptable to <br /> Mortgagee, shall provide for at least thirty (30) days' prior written notice of cancellation, <br /> termination or modification thereof to Mortgagee, shall permit Mortgagee to make <br /> premium payments to prevent cancellation, and shall provide that no act or negligence of <br /> Mortgagor or of any occupant of the Mortgaged Property, and no occupancy or use of the <br /> Mortgaged Property for purposes more hazardous than permitted by the terms of the <br /> policy, will affect the validity or enforceability of such insurance as against Mortgagee. <br /> In the event of loss under such insurance Mortgagor shall give prompt notice to the <br /> 5 <br /> 464431v2 EL185-33 <br />