Purchase of Land and the Construction , off Street Parking Facilities Issuance of revenue Bonds and Distribution of the Revenues

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which are usually carried by private parties operating simi- lar projects, including fire and public liability insurance, and all additional insurance covering such risks as shall be found necessary or advisable by the Board of Public Works and Safety, including particularly business interruption insurance covering loss of revenue by reason of necessary interruption, total or partial, in the use of the Project 1969 off - street parking facilities resulting from direct physical loss or damage to such facilities, caused by any of the risks custom- arily insured against in such policies of insurance, in an amount equal to the estimated gross revenues for the next two (2) succeeding calendar years; provided that such insur- ance may exclude loss sustained by the City during the first seven (7) days of any total or partial interruption of use; and provided further, that if the City at any time shall be unable to obtain or maintain such business interruption in- surance to the extent above required, either as to the amount of such insurance or as to the risks covered thereby, it will not constitute a default in the performance of the covenants in this ordinance if the City shall carry such insurance to the extent reasonably obtainable. All moneys received for loss under such insurance policies except business interrup- tion insurance shall be used in making good the loss or dam - age, and all moneys received for loss under business inter- ruption insurance policies shall be treated as revenues of the Project 1969 off- street parking facilities. The payment of premiums for all insurance herein required shall be con- sidered a maintenance and operation expense. (g) So long as any bonds payable from the revenues of off- street parking facilities - Project 1969 are outstanding, - 29 -