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(ii) premises and completed operations including, without limitation, bodily <br /> injury, personal injury, death or property damage occurring upon, in or about the <br /> Property or the Improvements on any elevators or any escalators therein and on, <br /> in or about the adjoining sidewalks, streets and passageways; <br /> (iii) broad form property damage liability; <br /> (iv) additional insured and primary insured endorsements protecting Lender <br /> and their respective elected and appointed officials, officers, employees and <br /> agents; and <br /> (v) personal injury endorsement. <br /> C. Worker's Compensation Insurance. Worker's compensation insurance, in the <br /> amount required under then applicable state law, covering Borrower's employees, if <br /> any, at work in or upon the Property or engaged in services or operations in connection <br /> with the Project, the Improvements or the Property. Borrower shall require that any <br /> general construction contract entered into by Borrower with regard to the Project include <br /> a contractual undertaking by the general contractor to provide worker's compensation <br /> insurance for its employees engaged in construction of the Project in an amount in <br /> compliance with applicable state law. <br /> D. General Insurance Provisions. All policies of insurance provided for in this <br /> Exhibit shall be provided under valid and enforceable policies, in such forms and <br /> amounts as hereinbefore specified, issued by insurers licensed to do business in the <br /> State of California (or approved to do business in California and listed on the California <br /> Department of Insurance list of Eligible Surplus Lines Insurers or successor listing) and <br /> having a rating of ANTI or better in Best's Insurance Guide or, if Best's Insurance Guide <br /> is no longer in existence, a comparable rating from a comparable rating service. Prior <br /> to the closing of the Loan, and thereafter, not less than thirty (30) days prior to the <br /> expiration date of each policy furnished pursuant to this Exhibit, Borrower shall deliver <br /> to Lender certificates evidencing the insurance required to be carried by Borrower under <br /> this Exhibit. If requested by Lender, Borrower shall deliver within fifteen (15) days <br /> following such request, certified, complete copies of the insurance policies required <br /> hereunder. Insurance policies to be provided herein shall meet the following <br /> requirements: <br /> (a) Each policy of insurance obtained pursuant to this Agreement, other <br /> than worker's compensation insurance, shall contain endorsements which provide (i) a <br /> waiver by the insurer of the right of subrogation against Lender, Borrower or any <br /> subtenant for negligence of any such person, (ii) a statement that the insurance shall <br /> not be invalidated should any insured waive in writing prior to the loss any or all right of <br /> recovery against any party for loss accruing to the property described in the insurance <br /> policy, and (iii) a provision that no act or omission of Borrower which would otherwise <br /> result in forfeiture or reduction of the insurance therein provided shall affect or limit the <br /> obligation of the insurance company to pay the amount of any loss sustained. <br /> 44 <br />