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Each policy of insurance obtained pursuant hereto shall (i) be <br /> issued by one or more recognized, financially sound and responsible <br /> insurance companies qualified or authorized under the laws of the <br /> State of Indiana to assume the risks covered by such policy, (ii) <br /> name the Trustee, the Borrower and the Issuer as assureds, as their <br /> respective interests may appear, and (iii) provide that such policy <br /> shall not be cancelled without at least 10 days prior written <br /> notice to each assured named therein. With respect to the <br /> insurance required by subsection (a) above, the policy or policies <br /> shall provide that whenever the Net Proceeds resulting from a claim <br /> exceed $50, 000, such Net Proceeds shall be payable to the Trustee, <br /> and if such Net Proceeds are equal to or less than $50,000, such <br /> Net Proceeds shall be payable directly to the Borrower. As to the <br /> insurance required by subsections (b) and (c) above, the Net <br /> Proceeds shall be payable directly to the Borrower. <br /> Upon the delivery of this Loan Agreement and thereafter not <br /> less than 10 days prior to the expiration dates of any policies, <br /> certificates, binders, or other evidence of insurance satisfactory <br /> to the Trustee given by the respective insurers of the policies <br /> provided for in subparagraphs (a) through (c) shall be delivered by <br /> the Borrower to the Trustee. If requested in writing by the <br /> Trustee, the Borrower shall furnish the Trustee with the schedule <br /> of premium payment dates and receipted bills or other evidence <br /> satisfactory to the Trustee of the payment when due of all premiums <br /> for all policies of insurance at any time required to be maintained <br /> hereunder. Upon reasonable prior written notice the Borrower will <br /> permit the Trustee to visit the offices of the Borrower and inspect <br /> the Borrower' s insurance records including all policies of <br /> insurance maintained pursuant to this Section and to make copies of <br /> all or any part thereof. <br /> Any of the foregoing insurance maintained by the Borrower <br /> pursuant hereto may be evidenced by one or more blanket insurance <br /> policies covering such Mortgaged Property and other property or <br /> assets of the Borrower, provided that any such policy shall specify <br /> that portion of the total coverage of such policy that is allocated <br /> to such Mortgaged Property and shall in all other respects comply <br /> with the requirements of this Section. <br /> Section 3 . 13 . Trustee's Right to Perform Borrower' s <br /> Covenants; Advances. In the event the Borrower shall fail to (i) <br /> perform any covenant contained in Section 3 . 6 hereof, (ii) remove <br /> any lien, security interest, encumbrance or charge pursuant to <br /> Section 3 .7 hereof, (iii) maintain the Mortgaged Property in repair <br /> pursuant to Section 3 . 10 hereof, (iv) procure the insurance <br /> required by Section 3 . 12 hereof, or (v) fail to make any other <br /> payment or perform any other act required to be performed <br /> hereunder, then and in each such case (unless the same is being <br /> contested or other appropriate action is being taken with respect <br /> thereto pursuant to Section 3 .9 hereof) , the Trustee, upon not less <br /> than 15 days prior written notice to the Borrower, may (but shall <br /> -20- <br />