1983-102 - Laserfiche WebLink

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rhe Uorrower may, at its own expense and in its own name, in 100J f1ith contest any such taxes, assessments and other .:harJt?s ,l1hl, in the event of any such contest, may permit the c...1x<J,i, 1ssess,nents or other charges so contested to remain unp:iid Juri~g ~he period of s uch contest and any appeal therefrom, so long 1s :he Trustee is furnished with an opinion of counsel satisf.:ictory 1:.0 the Trustee that by such action the Project shall not ;Je ::1.J.tarially adversely endangered and no part thereof is in -ianqer .)t °Jecoming subject to loss or forfeiture, and that neither -:.:"e l1~n:.. nor secu rity interests created hereunder as to the Pro- Jec t >r 1ny part thereof, nor the Loa~ Payments or other revenues ;inj ilr:i...:<?eJs to be derived from the Project will not be materially ~<lv~rsalr endangered. The Issuer will cooperate fully with the ~.)rr:i~er :o protect the Bo rrower's right so to contest. Section 5,3 Insurance on Project. Commencing with the .:it.lrt. Jf ,;onstruction, the Borrower .;;hall take out :ind contin- uou.-;l/ -:iaintain in effect while any o.E the Bonds shall be out- st3nJin~ anj unpaid, insurance on the rroject against such risks ~ .. 1r'? 1;us tomari ly insured against by businesses of like size and t 1 !)e, 1nJ us other11ise requiretl by the Construction Loan Agreement, 3nj ~ay ls the same shall beco~e due and payable all premiums ~L~h ra~pect thereto, In lie u of separate insurance policies, such insurance may be in the forra of a blanket insurance policy or policies of the Dorrower, which policy or policies may contain JeJuc~ibl~ amounts and exceptions and exclusions comparab le to t:1-.>s,.: .;::mt.ii:rnu in policies customarily obtained by businesses of li~e 3i~~ and type a3 that of the O:irrower. Without limiting the ~enerality of the foregoing, the i3o rrvwer shall at all times cai:-ry comprehe nsiv e ge nerill public liJbilicy insurance in conn~ct ion with its operation of the ProJect protecting the Dorrower, the Trustee antl the Issuer as t:1eir intt:!rests ;nay appe.:ir, agail\st liability for injuries to p~rsons and/~r property, occurring on , in or about the Project, in 1:h12 ::ii :iirnu:n amount of $1,000,000 liability to any one person for uoJily injury, $1,000,000 liability to all persons for any one occurrence and $1,000,000 liability for property damage in tlny rJne occurrence. ·r he Llo rrm,,er may with the consent of the Trustee, •,:hich con~ent. sha ll not. unreasonubly be vtit-.hhelJ, volunt.:trily ~et tle or consent to the settlement. of any prospective or pen-iing cl~im unJer any insurance policy referred to in this Agreement without t.he consent of the rssuer, but notice of any such settle- ~cnt :;hull be given to the Issuer; provided, however, in no ~ve nt Alll the Issuer or the Trustee volunt3rily settle or c0n- se:1t t.o the :;ett lement of ,:rny such clai:n without the written con- s~nt. of the Borrower. -26-