Common use of Evidence of Coverage Clause in Contracts

Evidence of Coverage. The insurance shall be evidenced by the original policy or a true and certified copy of the original policy, or by certificates of insurance. Said certified copies, original policies or certificates shall be delivered to Lender at or prior to Closing. On or before the Closing and each stated due date thereafter, Borrower shall pay all premiums and fees for the insurance policies required hereunder. Borrower shall deliver certified copies of all policies and renewals (or certificates evidencing the same) to Lender at least thirty (30) days before the expiration of existing policies. Each such policy shall provide that such policy may not be canceled or materially changed except upon 30 days prior written notice of intention of non-renewal, cancellation or material change to Lender, and that no act or thing done by Borrower shall invalidate the policy as against Lender. Notwithstanding anything to the contrary contained herein or in any provision of law, the Proceeds of insurance policies coming into the possession of Lender and which are not to be used for the Work (as hereinafter defined) shall not be deemed trust funds and Lender shall be entitled to dispose of such Proceeds as hereinafter provided. If Lender has not received satisfactory evidence of such renewal or substitute insurance in the time frame herein specified, Lender shall have the right, but not the obligation, to purchase such insurance for Lender's interest only. Any amounts so disbursed by Lender pursuant to this Section 6.1.B shall be deemed to be a part of the Loan and shall bear interest at the Default Rate. Nothing contained in this Article 6 shall require Lender to incur any expense or take any action hereunder, and inaction by Lender shall never be deemed a waiver of any rights accruing to Lender on account of this Article 6.

Evidence of Coverage. The insurance All of the policies required to be obtained by Tenant pursuant to Paragraph 12.3 shall be evidenced with companies and in form satisfactory to Landlord. Each insurance company providing coverage shall have a current Best's Rating of "A-XII" or better. Upon notice from Landlord, Tenant shall add Landlord and any management agent from time to time designated by the original policy Landlord and any lender of Landlord as an additional insured or a true loss payee, as applicable. Tenant shall provide Landlord with certificates and certified copy copies of endorsements (and upon request, policies) of insurance acceptable to Landlord issued by each of the original policyinsurance companies issuing any of the policies required pursuant to the provisions of Paragraph 12.3, or by and said certificates of insurance. Said certified copies, original policies or certificates and endorsements shall be delivered to Lender at or prior to Closing. On or before the Closing and each stated due date thereafter, Borrower shall pay all premiums and fees for provide that the insurance policies required hereunder. Borrower issued thereunder shall deliver certified copies of all policies and renewals (not be altered, canceled or certificates evidencing the same) to Lender at least non-renewed until after thirty (30) days before the expiration of existing policies. Each such policy shall provide that such policy may not be canceled or materially changed except upon 30 days prior days' written notice of intention of non-renewal, cancellation or material change to Lender, and that no act or thing done by Borrower shall invalidate the policy as against LenderLandlord. Notwithstanding anything to the contrary contained herein or in any provision of law, the Proceeds of insurance "Claims made" policies coming into the possession of Lender and which are not to be used for the Work (as hereinafter defined) shall not be deemed trust funds and Lender permitted. Each policy shall permit the waiver in Section 12.5 below. Evidence of insurance coverage shall be entitled furnished to dispose Landlord prior to Tenant's possession of the Premises and thereafter not fewer than fifteen (15) days prior to the expiration date of any required policy. Tenant may satisfy its insurance obligations hereunder by carrying such Proceeds as hereinafter providedinsurance under a so-called blanket policy or policies of insurance which are acceptable to Landlord. If Lender has not received satisfactory Tenant fails to obtain any insurance required hereby or provide evidence of such renewal or substitute insurance in the time frame herein specifiedthereof to Landlord, Lender shall have the rightLandlord may, but shall not the obligationbe obligated to, to purchase and Tenant hereby appoints Landlord as its agent to, procure such insurance for Lender's interest only. Any amounts so disbursed by Lender pursuant to this Section 6.1.B shall be deemed to be a part and ▇▇▇▇ the cost of the Loan and insurance plus a twenty percent (20%) handling charge to Tenant. Tenant shall bear interest at pay such costs to Landlord as Additional Rent with the Default Rate. Nothing contained in this Article 6 shall require Lender to incur any expense or take any action hereunder, and inaction by Lender shall never be deemed a waiver next monthly payment of any rights accruing to Lender on account of this Article 6Rent.

Evidence of Coverage. The insurance shall be evidenced by the original policy or a true and certified copy of the original policy, or in the case of liability insurance, by certificates of insurance. Said certified copies, original policies or certificates Certificates evidencing such insurance shall be delivered to Lender at or prior to Closing and certified copies or original policies shall be delivered to Lender within thirty (30) days following Closing. On or before the Closing and each stated due date thereafterdate, Borrower or the Primary Tenant shall pay all premiums and fees for the insurance policies required hereunder. Borrower shall deliver certified copies of all policies and renewals (or certificates evidencing the same) to Lender at least thirty (30) days before the expiration of existing policies. Each such policy shall provide that such policy may not be canceled or materially changed except upon 30 days prior written notice of intention of non-renewal, cancellation or material change to Lender, and that no act or thing done by Borrower shall invalidate the policy as against Lender. Lender shall be named as Mortgagee, loss payee and addtional insured on all such policies. Notwithstanding anything to the contrary contained herein or in any provision of law, the Proceeds proceeds of insurance policies coming into the possession of Lender and which are not to be used for the Work (as hereinafter defined) shall not be deemed trust funds and Lender shall be entitled to dispose of such Proceeds proceeds as hereinafter providedprovided and as set forth in the Mortgage. If Lender has not received satisfactory evidence of such renewal or substitute insurance in the time frame herein specified, Lender shall have the right, but not the obligation, to purchase such insurance for Lender's interest only. Any amounts so disbursed by Lender pursuant to this Section 6.1.B 10.09 shall be deemed to be a part of the Loan and shall bear interest at the Default Rate. Nothing contained in this Article 6 Section 10.09 shall require Lender to incur any expense or take any action hereunder, and inaction by Lender shall never be deemed a waiver of any rights accruing to Lender on account of this Article 6Section 10.09.

Evidence of Coverage. The insurance All of the policies required to be obtained by Tenant pursuant to Paragraph 12.3 shall be evidenced with companies and in form satisfactory to Landlord. Each insurance company providing coverage shall have a current Best’s Rating of “A-XII” or better. Upon notice from Landlord, Tenant shall add Landlord and any management agent from time to time designated by the original policy Landlord and any lender of Landlord as an additional insured or a true loss payee, as applicable. Tenant shall provide Landlord with certificates and certified copy copies of endorsements (and upon request, policies) of insurance acceptable to Landlord issued by each of the original policyinsurance companies issuing any of the policies required pursuant to the provisions of Paragraph 12.3, or by and said certificates of insurance. Said certified copies, original policies or certificates and endorsements shall be delivered to Lender at or prior to Closing. On or before the Closing and each stated due date thereafter, Borrower shall pay all premiums and fees for provide that the insurance policies required hereunder. Borrower issued thereunder shall deliver certified copies of all policies and renewals (not be altered, canceled or certificates evidencing the same) to Lender at least non-renewed until after thirty (30) days before the expiration of existing policies. Each such policy shall provide that such policy may not be canceled or materially changed except upon 30 days prior days’ written notice of intention of non-renewal, cancellation or material change to Lender, and that no act or thing done by Borrower shall invalidate the policy as against LenderLandlord. Notwithstanding anything to the contrary contained herein or in any provision of law, the Proceeds of insurance “Claims made” policies coming into the possession of Lender and which are not to be used for the Work (as hereinafter defined) shall not be deemed trust funds and Lender permitted. Each policy shall permit the waiver in Paragraph 12.5 below. Evidence of insurance coverage shall be entitled furnished to dispose Landlord prior to Tenant’s possession of the Premises and thereafter not fewer than fifteen (15) days prior to the expiration date of any required policy. Tenant may satisfy its insurance obligations hereunder by carrying such Proceeds as hereinafter providedinsurance under a so-called blanket policy or policies of insurance which are acceptable to Landlord. If Lender has not received satisfactory Tenant fails to obtain any insurance required hereby or provide evidence of such renewal or substitute insurance in the time frame herein specifiedthereof to Landlord, Lender shall have the rightLandlord may, but shall not the obligationbe obligated to, to purchase and Tenant hereby appoints Landlord as its agent to, procure such insurance for Lender's interest only. Any amounts so disbursed by Lender pursuant to this Section 6.1.B shall be deemed to be a part and bill the cost of the Loan and insurance plus a twenty percent (20%) handling charge to Tenant. Tenant shall bear interest at pay such costs to Landlord as Additional Rent with the Default Rate. Nothing contained in this Article 6 shall require Lender to incur any expense or take any action hereunder, and inaction by Lender shall never be deemed a waiver next monthly payment of any rights accruing to Lender on account of this Article 6Rent.

Evidence of Coverage. The insurance All of the policies required to be obtained by Tenant pursuant to Paragraph 12.3 shall be evidenced with companies and in form satisfactory to Landlord. Each insurance company providing coverage shall have a current Best’s Rating of “A-XII” or better. Tenant shall add Landlord, BlackRock Realty Advisors, Inc., (“Landlord’s Advisor”), and any management agent from time to time designated by Landlord (“Landlord’s Managing Agent”) and any lender of Landlord as additional insureds (or as the original loss payee, as applicable) and shall provide that any coverage to additional insureds shall be primary (such that when any policy issued to Landlord provides duplicate coverage or a true is similar in coverage, Landlord’s policy will be excess over Tenant’s policies). Tenant shall provide Landlord or Landlord’s Managing Agent, if any, with certificates and certified copy copies of endorsements of insurance acceptable to Landlord issued by each of the original policyinsurance companies issuing any of the policies required pursuant to the provisions of Paragraph 12.3, or by and said certificates of insurance. Said certified copies, original policies or certificates and endorsements shall be delivered to Lender at or prior to Closing. On or before the Closing and each stated due date thereafter, Borrower shall pay all premiums and fees for provide that the insurance policies required hereunder. Borrower issued thereunder shall deliver certified copies of all policies and renewals (not be altered, canceled or certificates evidencing the same) to Lender at least non-renewed until after thirty (30) days before the expiration of existing policies. Each such policy shall provide that such policy may not be canceled or materially changed except upon 30 days prior days’ written notice of intention of non-renewalsuch pending alteration, cancellation or material change non-renewal is provided to Lender, and that no act or thing done by Borrower shall invalidate the policy as against LenderLandlord. Notwithstanding anything to the contrary contained herein or in any provision of law, the Proceeds of insurance “Claims made” policies coming into the possession of Lender and which are not to be used for the Work (as hereinafter defined) shall not be deemed trust funds and Lender permitted. Evidence of insurance coverage shall be entitled furnished to dispose Landlord prior to Tenant’s possession of the Premises and thereafter not fewer than fifteen (15) days prior to the expiration date of any required policy. Tenant may satisfy its insurance obligations hereunder by carrying such Proceeds as hereinafter providedinsurance under a so-called blanket policy or policies of insurance which are acceptable to Landlord. If Lender has not received satisfactory Tenant fails to obtain any insurance required hereby or provide evidence of such renewal or substitute insurance in the time frame herein specifiedthereof to Landlord, Lender shall have the rightLandlord may, but shall not the obligationbe obligated to, to purchase and Tenant hereby appoints Landlord as its agent to, procure such insurance for Lender's interest only. Any amounts so disbursed by Lender pursuant to this Section 6.1.B shall be deemed to be a part and ▇▇▇▇ the cost of the Loan and insurance plus a ten percent (10%) handling charge to Tenant. Tenant shall bear interest at pay such costs to Landlord as Rent with the Default Rate. Nothing contained in this Article 6 shall require Lender to incur any expense or take any action hereunder, and inaction by Lender shall never be deemed a waiver next monthly payment of any rights accruing to Lender on account of this Article 6Base Rent.

Evidence of Coverage. The insurance shall be evidenced by the original policy or a true and certified copy of the original policy, or in the case of liability insurance, by certificates of insurance. Said certified copies, original policies or certificates Certificates evidencing such insurance shall be delivered to Lender at or prior to Closing and certified copies or original policies shall be delivered to Lender within thirty (30) days following Closing. On or before the Closing and each stated due date thereafterdate, Borrower or the Primary Tenant shall pay all premiums and fees for the insurance policies required hereunder. Borrower shall deliver certified copies of all policies and renewals (or certificates evidencing the same) to Lender at least thirty (30) days before the expiration of existing policies. Each such policy shall provide that such policy may not be canceled or materially changed except upon 30 days prior written notice of intention of non-renewal, cancellation or material change to Lender, and that no act or thing done by Borrower shall invalidate the policy as against Lender. Lender shall be named as Mortgagee, loss payee and addtional insured on all such policies. Notwithstanding anything to the contrary contained herein or in any provision of law, the Proceeds proceeds of insurance policies coming into the possession of Lender and which are not to be used for the Work (as hereinafter defined) shall not be deemed trust funds and Lender shall be entitled to dispose of such Proceeds proceeds as hereinafter providedprovided and as set forth in the Mortgage. If Lender has not received satisfactory evidence of such renewal or substitute insurance in the time frame herein specified, Lender shall have the right, but not the obligation, to purchase such insurance for Lender's ’s interest only. Any amounts so disbursed by Lender pursuant to this Section 6.1.B 10.09 shall be deemed to be a part of the Loan and shall bear interest at the Default Rate. Nothing contained in this Article 6 Section 10.09 shall require Lender to incur any expense or take any action hereunder, and inaction by Lender shall never be deemed a waiver of any rights accruing to Lender on account of this Article 6Section 10.09.

Evidence of Coverage. The insurance shall be evidenced by the original -------------------- policy or a true and certified copy of the original policy, or in the case of liability insurance, by certificates of insurance. Said certified copies, original policies or certificates shall be delivered to Lender at or prior to Closing. On or before the Closing and each stated due date thereafter, Borrower shall pay all premiums and fees for the insurance policies required hereunder. Borrower shall deliver certified copies of all policies and renewals (or certificates evidencing the same) to Lender at least thirty (30) days before the expiration of existing policies. Each such policy shall provide that such policy may not be canceled or materially changed except upon 30 days days' prior written notice of intention of non-renewal, cancellation or material change to Lender, and that no act or thing done by Borrower shall invalidate the policy as against Lender. Notwithstanding anything to the contrary contained herein or in any provision of law, the Proceeds of insurance policies coming into the possession of Lender and which are not to be used for the Work (as hereinafter defined) shall not be deemed trust funds and Lender shall be entitled to dispose of such Proceeds as hereinafter provided. If Lender has not received satisfactory evidence of such renewal or substitute insurance in the time frame herein specified, Lender shall have the right, but not the obligation, to purchase such insurance for Lender's interest only. Any amounts so disbursed by Lender pursuant to this Section 6.1.B ------------- shall be deemed to be a part of the Loan and shall bear interest at the Default Rate. Nothing contained in this Article 6 shall require Lender to incur any --------- expense or take any action hereunder, and inaction by Lender shall never be deemed a waiver of any rights accruing to Lender on account of this Article 6.. ---------

Evidence of Coverage. The insurance All of the policies required to be obtained by Tenant pursuant to Paragraph 12.3 shall be evidenced with companies and in form satisfactory to Landlord. Each insurance company providing coverage shall have a current Best's Rating of "A-X" or better. Tenant shall add Landlord and any management agent from time to time designated by the original policy Landlord and any lender of Landlord as an additional insured or a true loss payee, as their interests may appear. Tenant shall provide Landlord with certificates and certified copy copies of endorsements (and upon request, policies) of insurance acceptable to Landlord issued by each of the original policyinsurance companies issuing any of the policies required pursuant to the provisions of Paragraph 12.3, or by and said certificates of insurance. Said certified copies, original policies or certificates and endorsements shall be delivered to Lender at or prior to Closing. On or before the Closing and each stated due date thereafter, Borrower shall pay all premiums and fees for provide that the insurance policies required hereunder. Borrower issued thereunder shall deliver certified copies of all policies and renewals (not be altered, canceled or certificates evidencing the same) to Lender at least non-renewed until after thirty (30) days before the expiration of existing policies. Each such policy shall provide that such policy may not be canceled or materially changed except upon 30 days prior days' written notice of intention of non-renewal, cancellation or material change to Lender, and that no act or thing done by Borrower shall invalidate the policy as against LenderLandlord. Notwithstanding anything to the contrary contained herein or in any provision of law, the Proceeds of insurance "CLAIMS MADE" policies coming into the possession of Lender and which are not to be used for the Work (as hereinafter defined) shall not be deemed trust funds and Lender permitted. Each policy shall permit the waiver in Section 12.5 below. Evidence of insurance coverage shall be entitled furnished to dispose Landlord prior to Tenant's possession of the Premises and thereafter not fewer than fifteen (15) days prior to the expiration date of any required policy. Tenant may satisfy its insurance obligations hereunder by carrying such Proceeds as hereinafter providedinsurance under a so-called blanket policy or policies of insurance which are acceptable to Landlord. If Lender has not received satisfactory Tenant fails to obtain any insurance required hereby or provide evidence of such renewal or substitute insurance in the time frame herein specifiedthereof to Landlord, Lender shall have the rightupon one (1) business day notice, Landlord may, but shall not the obligationbe obligated to, to purchase and Tenant hereby appoints Landlord as its agent to, procure such insurance for Lender's interest only. Any amounts so disbursed by Lender pursuant to this Section 6.1.B shall be deemed to be a part and ▇▇▇▇ the cost of the Loan and insurance plus a five percent (5%) handling charge to Tenant. Tenant shall bear interest at pay such costs to Landlord as Additional Rent with the Default Rate. Nothing contained in this Article 6 shall require Lender to incur any expense or take any action hereunder, and inaction by Lender shall never be deemed a waiver next monthly payment of any rights accruing to Lender on account of this Article 6Rent.

Evidence of Coverage. The insurance shall be evidenced by the original policy or a true and certified copy of the original policy, or in the case of liability insurance, by certificates of insurance. Said certified copies, copies or original policies or certificates shall be delivered to Lender at or prior to Closing. On or before the Closing and each stated due date thereafterdate, Borrower shall pay all premiums and fees for the insurance policies required hereunder. Borrower shall deliver certified copies of all policies and renewals (or certificates evidencing the same) to Lender at least thirty (30) days before the expiration of existing policies. Each such policy shall provide that such policy may not be canceled or materially changed except upon 30 days prior written notice of intention of non-renewal, cancellation or material change to Lender, and that no act or thing done by Borrower shall invalidate the policy as against Lender. Notwithstanding anything to the contrary contained herein or in any provision of law, the Proceeds of insurance policies coming into the possession of Lender and which are not to be used for the Work (as hereinafter defined) shall not be deemed trust funds and Lender shall be entitled to dispose of such Proceeds as hereinafter provided. If Lender has not received satisfactory evidence of such renewal or substitute insurance in the time frame herein specified, Lender shall have the right, but not the obligation, to purchase such insurance for Lender's interest only. Any amounts so disbursed by Lender pursuant to this Section 6.1.B this SECTION 7.1. B shall be deemed to be a part of the Loan and shall bear interest at the Default Rate. Nothing contained in this Article 6 ARTICLE 7 shall require Lender to incur any expense or take any action hereunder, and inaction by Lender shall never be deemed a waiver of any rights accruing to Lender on account of this Article 6ARTICLE 7.

Evidence of Coverage. The insurance All of the policies required to be obtained by Tenant pursuant to Paragraph 12.3 shall be evidenced with companies and in form satisfactory to Landlord. Each insurance company providing coverage shall have a current Best's Rating of "A-XII" or better. Upon notice from Landlord, Tenant shall add Landlord, L&B Realty Advisors, Inc. ("LANDLORD'S ADVISOR"), and any management agent from time to time designated by the original Landlord ("LANDLORD'S MANAGING AGENT") and any lender of Landlord as additional insureds and shall provide that any coverage to additional insureds shall be primary (such that when any policy issued to Landlord provides duplicate coverage or a true is similar in coverage, Landlord's policy will be excess over Tenant's policies). Tenant shall provide Landlord or Landlord's Managing Agent, if any, with certificates and certified copy copies of endorsements of insurance acceptable to Landlord issued by each of the original policyinsurance companies issuing any of the policies required pursuant to the provisions of Paragraph 12.3, or by and said certificates of insurance. Said certified copies, original policies or certificates and endorsements shall be delivered to Lender at or prior to Closing. On or before the Closing and each stated due date thereafter, Borrower shall pay all premiums and fees for provide that the insurance policies required hereunder. Borrower issued thereunder shall deliver certified copies of all policies and renewals (not be altered, canceled or certificates evidencing the same) to Lender at least non-renewed until after thirty (30) days before the expiration of existing policies. Each such policy shall provide that such policy may not be canceled or materially changed except upon 30 days prior days' written notice of intention of non-renewalsuch pending alteration, cancellation or material change non-renewal (10 days for nonpayment of premiums) is provided to Lender, and that no act or thing done by Borrower shall invalidate the policy as against LenderLandlord. Notwithstanding anything to the contrary contained herein or in any provision of law, the Proceeds of insurance "Claims made" policies coming into the possession of Lender and which are not to be used for the Work (as hereinafter defined) shall not be deemed trust funds and Lender permitted. Each policy shall permit the waiver of subrogation in Paragraph 12.5 below. Evidence of insurance coverage shall be entitled furnished to dispose Landlord prior to Tenant's possession of the Premises and thereafter not fewer than fifteen (15) days prior to the expiration date of any required policy. Tenant may satisfy its insurance obligations hereunder by carrying such Proceeds as hereinafter providedinsurance under a so-called blanket policy or policies of insurance which are acceptable to Landlord. If Lender has not received satisfactory Tenant fails to obtain any insurance required hereby or provide evidence of such renewal or substitute insurance in the time frame herein specifiedthereof to Landlord, Lender shall have the rightLandlord may, but shall not the obligationbe obligated to, to purchase and Tenant hereby appoints Landlord as its agent to, procure such insurance for Lender's interest only. Any amounts so disbursed by Lender pursuant to this Section 6.1.B shall be deemed to be a part and ▇▇▇▇ the cost of the Loan and shall bear interest at insurance (plus the Default Rate. Nothing contained in this Article 6 shall require Lender to incur any expense or take any action hereunder, and inaction by Lender shall never be deemed a waiver amount of any rights accruing other costs incurred by Landlord in obtaining such insurance) to Lender on account Tenant. Tenant shall pay such costs to Landlord as Rent with the next monthly payment of this Article 6Base Rent.

Evidence of Coverage. The insurance shall be evidenced by the original policy or a true and certified copy of the original policy, or in the case of liability insurance, by certificates of insurance. Said certified copies, original policies or certificates Certificates evidencing such insurance shall be delivered to Lender at or prior to Closing and certified copies or original policies shall be delivered to Lender within thirty (30) days following Closing. On or before the Closing and each stated due date thereafterdate, Borrower or the Primary Tenant shall pay all premiums and fees for the insurance policies required hereunder. Borrower shall deliver certified copies of all policies and renewals (or certificates evidencing the same) to Lender at least thirty (30) days before the expiration of existing policies. Each such policy shall provide that such policy may not be canceled or materially changed except upon 30 days prior written notice of intention of non-renewal, cancellation or material change to Lender, and that no act or thing done by Borrower shall invalidate the policy as against Lender. Lender shall be named as Mortgagee, loss payee and additional insured on all such policies. Notwithstanding anything to the contrary contained herein or in any provision of law, the Proceeds proceeds of insurance policies coming into the possession of Lender and which are not to be used for the Work (as hereinafter defined) shall not be deemed trust funds and Lender shall be entitled to dispose of such Proceeds proceeds as hereinafter providedprovided and as set forth in the Mortgage. If Lender has not received satisfactory evidence of such renewal or substitute insurance in the time frame herein specified, Lender shall have the right, but not the obligation, to purchase such insurance for Lender's interest only. Any amounts so disbursed by Lender pursuant to this Section 6.1.B 8.07 shall be deemed to be a part of the Loan and shall bear interest at the Default Rate. Nothing contained in this Article 6 Section 8.07 shall require Lender to incur any expense or take any action hereunder, and inaction by Lender shall never be deemed a waiver of any rights accruing to Lender on account of this Article 6Section 8.07.

Evidence of Coverage. The insurance A. Contractor shall furnish to KRS Certificates of Insurance (or such other evidence) evidencing all requirements herein and, if requested, copies of the policies and endorsements effecting the coverage required hereby, all of which shall be evidenced by in form and content acceptable to KRS (“Evidence of Coverage”). The Evidence of Coverage must show that the original policy or a true and certified copy required insurance is in force, the amount of the original policycarrier’s liability thereunder, or by certificates of insurance. Said certified copies, original policies or certificates shall be delivered to Lender at or prior to Closing. On or before the Closing and each stated due date thereafter, Borrower shall pay all premiums and fees for the insurance policies required hereunder. Borrower shall deliver certified copies of all policies and renewals (or certificates evidencing the same) to Lender at least must further provide that Contractor will notify KRS with thirty (30) days before the expiration of existing policies. Each such policy shall provide that such policy may not be canceled or materially changed except upon 30 days prior advance written notice of intention any cancellation or reduction in coverage or in limits, or deletion of the certificate holder herein as Katahdin Railcar Services LLC under the policies. In the event that Contractor provides a materially different type of product or services hereunder, Contractor shall carry such additional insurance as KRS may reasonably request in connection with such new products or services. B. KRS’s failure to pursue or obtain the Evidence of Coverage hereunder from Contractor and/or to point out any non-renewal, cancellation or material change to Lender, and that no act or thing done by Borrower shall invalidate the policy as against Lender. Notwithstanding anything to the contrary contained herein or in any provision compliance of law, the Proceeds such Evidence of insurance policies coming into the possession of Lender and which are not to be used for the Work (as hereinafter defined) Coverage shall not be deemed trust funds and Lender shall be entitled to dispose of such Proceeds as hereinafter provided. If Lender has not received satisfactory evidence of such renewal or substitute insurance in the time frame herein specified, Lender shall have the right, but not the obligation, to purchase such insurance for Lender's interest only. Any amounts so disbursed by Lender pursuant to this Section 6.1.B shall be deemed to be a part of the Loan and shall bear interest at the Default Rate. Nothing contained in this Article 6 shall require Lender to incur any expense or take any action hereunder, and inaction by Lender shall never be deemed constitute a waiver of any rights accruing of the insurance requirements hereunder, nor relieve Contractor of any of its obligations or liabilities hereunder. Moreover, acceptance by KRS of insurance submitted by Contractor does not relieve or decrease in any manner the liability of Contractor for performance hereunder. Contractor is responsible for any losses, claims, and/or costs of any kind which their insurance does not cover. C. KRS may, at its sole option and without liability to Lender on account Contractor, suspend the work and/or exclude Contractor from KRS’s premises until Contractor furnishes Evidence of this Article 6Coverage.

Evidence of Coverage. The insurance All of the policies required to be obtained by Sublessee pursuant to Paragraph 11.3 shall be evidenced with companies and in form satisfactory to Sublessor and Landlord. Each insurance company providing coverage shall have a current Best's Rating of "A-XII" or better. Upon notice from Sublessor and/or Landlord, Sublessee shall add any mortgagee of Landlord as an additional insured or loss payee, as applicable. Sublessee shall provide Sublessor and Landlord with certificates and copies of endorsements (and upon request, policies) of insurance acceptable to Sublessor and/or Landlord issued by the original policy or a true and certified copy each of the original policyinsurance companies issuing any of the policies required pursuant to the provisions of Paragraph 11.3, or by and said certificates of insurance. Said certified copies, original policies or certificates and endorsements shall be delivered to Lender at or prior to Closing. On or before the Closing and each stated due date thereafter, Borrower shall pay all premiums and fees for provide that the insurance policies required hereunder. Borrower issued thereunder shall deliver certified copies of all policies and renewals (not be altered, canceled or certificates evidencing the same) to Lender at least non-renewed until after thirty (30) days before the expiration of existing policies. Each such policy shall provide that such policy may not be canceled or materially changed except upon 30 days prior days' written notice of intention of non-renewal, cancellation or material change to Lender, and that no act or thing done by Borrower shall invalidate the policy as against LenderSublessor and/or Landlord. Notwithstanding anything to the contrary contained herein or in any provision of law, the Proceeds of insurance "Claims Made" policies coming into the possession of Lender and which are not to be used for the Work (as hereinafter defined) shall not be deemed trust funds and Lender permitted. Each policy shall permit the waiver in Section 11.5 below. Evidence of insurance coverage shall be entitled furnished to dispose Sublessor and Landlord prior to Sublessee's possession of the Premises and thereafter not fewer than fifteen (15) days prior to the expiration date of any required policy. Sublessee may satisfy its insurance obligations hereunder by carrying such Proceeds as hereinafter providedinsurance under a so-called blanket policy or policies of insurance that are acceptable to Sublessor. If Lender has not received satisfactory Sublessee fails to obtain any insurance required hereby or provide evidence of such renewal or substitute insurance in the time frame herein specifiedthereof to Sublessor and Landlord, Lender shall have the rightSublessor and/or Landlord may, but shall not the obligationbe obligated to, to purchase and Sublessee hereby appoints Sublessor and/or Landlord as its agent to, procure such insurance for Lender's interest only. Any amounts so disbursed by Lender pursuant to this Section 6.1.B shall be deemed to be a part and bill the cost of the Loan and insurance plus a twenty percent (20%) handl▇▇▇ charge to Sublessee. Sublessee shall bear interest at pay such costs to Sublessor and/or Landlord as Additional Rent with the Default Rate. Nothing contained in this Article 6 shall require Lender to incur any expense or take any action hereunder, and inaction by Lender shall never be deemed a waiver next monthly payment of any rights accruing to Lender on account of this Article 6Rent.