80A - AGMT WITH HABITAT FOR HUMANITY

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insurance proceeds, and (iii) the proceeds of any rental loss or business interruption insurance applicable prior to the date of surrender of the Premises to the Lessor. ARTICLE VIII INSURANCE AND INDEMNITY 8.1 Insurance. Prior to sale of the home and Developer assignment of the Tenant interest in the Lease to the home purchaser, Developer shall maintain the insurance required by the Inclusionary Grant Agreement. Thereafter, following assignment of the Lease by Developer to the home purchaser, to protect the Lessor against any and all claims and liability for death, injury, loss and damage resulting from the Tenant's actions in connection with this Lease and the Premises, the Tenant shall, at the Tenant's sole cost and expense, throughout the term of the Lease of the Premises, maintain the following insurance (or its then reasonably available equivalent), as applicable: (a) Liability Insurance in amounts reasonably required by City from time to time, and in no event less than $300,000 for "single occurrence'; (b) Property Insurance in amounts reasonably required by Lessor from time to time, and in no event less than $700,000; (c) Builder's Risk Insurance (during construction of Improvements only); and (d) Worker's Compensation Insurance (during construction of Improvements only). Additionally, the Tenant, to protect the Lessor, shall cause its contractors and subcontractors, at their sole cost and expense, to maintain Contractor's Insurance until issuance of a Certificate of Completion for the Project. 8.1.1 Nature of Insurance. All Liability Insurance, Property Insurance, Automobile Liability Insurance and Contractor's Insurance policies this Lease requires shall be issued by carriers that: (a) are listed in the then current `Best's Key Rating Guide Property/Casualty United States & Canada" publication (or its equivalent, if such publication ceases to be published) with a minimum financial strength rating of "A" and a minimum financial size category of "VII'; and (b) are admitted to do business in the State of California by the California Department of Insurance. The Tenant may provide any insurance under a "blanket" or "umbrella" insurance policy, provided that (i) such policy or a certificate of such policy shall specify the amount(s) of the total insurance allocated to the Premises, which amount(s) shall equal or exceed the amount(s) required by this Lease and shall not be reduced for claims made for other properties; and (ii) such policy otherwise complies with this Lease. 8.1.2 Policy Requirements and Endorsements. All insurance policies this Lease requires shall contain (by endorsement or otherwise) the following provisions: (a) Insured. Liability Insurance, Automobile Liability Insurance and Contractor's Insurance policies shall name the Lessor as "additional insured." The coverage afforded to the Lessor shall be at least as broad as that afforded to the Tenant and may not contain any terns, conditions, exclusions, or limitations applicable to the Lessor that do not apply to the Tenant. Page 117