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Any insurance policy issued pursuant to Section 6.03(1) shall be so written or endorsed as to make losses, if any, payable to the City, the Authority, and the Trustee as their respective interests may appear, shall waive any co-insurance penalty and the net proceeds of the insurance required in Section 6.03(1) shall be applied as provided in Section 7.01. The net proceeds, if any, of the insurance policy described in Section 6.03(2) shall be payable to the Trustee and deposited in the Revenue Fund. Each insurance policy provided for in this Section shall contain a provision to the effect that the insurance company shall not cancel the policy or modify it materially and adversely to the interests of the Authority or the Trustee without first giving written notice thereof to the Authority and the Trustee at least sixty (60) days in advance of such intended cancellation or modification; provided, that the Trustee shall not be responsible for the sufficiency of any insurance herein required and shall be fully protected in accepting payment on account of such insurance or any adjustments, compromise or settlement of any loss agreed to by it. The City shall file a certificate with the Trustee not later than July 1 of each year certifying that the insurance required by this section is in full force and effect and that the Trustee is named as a loss payee on each insurance policy which this Lease requires to be so endorsed. The City shall also deliver annually the original copies of each insurance policy required by this section to the Bond Insurer within thirty (30) days of purchase or renewal. SECTION 6.04. Advances. In the event the City shall fail to maintain the full insurance coverage required hereby or shall fail to keep the Leased Property in good repair and operating condition, the Authority may (but shall be under no obligation to) purchase the required policies of insurance and pay the premiums on the same or may make such repairs or replacements as are necessary and provide for payment thereof; and all amounts so advanced therefor by the Authority shall become Additional Rental, which amounts the City agrees to pay within thirty (30) days of a written request therefor, together with interest thereon at the maximum rate allowed by law. SECTION 6.05. Title Insurance. The City covenants and agrees to deliver or cause to be delivered to the Trustee on the Closing Date a CLTA leasehold owner's policy or policies, or a commitment for such policy or policies, with respect to the Leased Property with liability in the aggregate amount equal to the principal amount of the Bonds. Such policy or policies, when issued, shall name the Trustee as the insured and shall insure the leasehold estate of the City in the Leased Property subject only to such exceptions as the City shall certify do not materially affect the City's right to the use and occupancy of the Leased Property. The City may not self insure for title insurance. LA1-63219.5 18