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(c) Public liability and property damage insurance in amounts customarily carried for similar properties; provided however, that, notwithstanding Section 803, such insurance may be provided under the public liability self insurance program of the City of South Bend. Section 803. Except as provided in Section 802(c), such insurance policies shall be maintained in insurance companies rated B+ or better by A.M. Best Company (or a comparable rating service if A.M. Best Company ceases to exist or rate insurance companies), and shall be countersigned by an agent of the insurer who is a resident of the State of Indiana. A copy of such policies referred to in Section 802 and the architect's or engineer's certificates referred to in Section 802(a) shall be deposited with the Trustee and the Credit Facility Issuer. A schedule of such policies shall be deposited with the Trustee and the Credit Facility Issuer. Such schedule shall contain the names of the insurers, the amounts of each policy, the character of the risk insured against, the expiration date of each policy, the premium paid thereon, and any other pertinent data. Section 804. In case the Authority shall at any time refuse, neglect or fail to obtain and furnish such certificate or to effect insurance as aforesaid, the Trustee may, in its discretion, procure such certificate and/or such insurance, and all moneys paid by the Trustee for such certificate and/or insurance., • together with interest thereon at the highest rate of interest on any of the Bonds when sold, whether or not then outstanding, shall be repaid by the Authority upon demand, and shall constitute an additional indebtedness of the Authority secured by the lien of this Indenture, prior and paramount to the lien hereunder of said Bonds and interest thereon. The Trustee, however, shall not be obligated to effect such insurance unless fully indemnified against the expense thereof and furnished with means therefor. Section 805. The insurance policies required by Section 801 and Section 802 shall be for the benefit, as their interests shall appear, of the Trustee, the Credit Facility Issuer, the Authority, and other persons having an insurable interest in the insured property. Such policies shall clearly indicate that any proceeds under the policies shall be payable to the Trustee and the Credit Facility Issuer, and the Trustee and the Credit Facility Issuer are hereby authorized to demand, collect and receipt for and recover any and all insurance moneys t~hich may become due and payable under any of said policies of insurance and to prosecute all necessary actions in the courts to recover any such insurance moneys. The Trustee may, however, accept any settlement or adjustment which the officers of the Authority may deem it advisable to make with the insurance companies. Any proceeds of rent or rental value insurance received by the Trustee representing the annual rentals payable under the Lease shall be deposited by it forthwith to the credit of the Sinking Fund. • 73