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<br />Section 5.5. Rental Interruption Insurance. The City shall procure and maintain, or cause <br />to be maintained, throughout the Term of the Lease Agreement, rental interruption insurance to <br />cover loss, total or partial, of the use of any part of the Property during the Term of the Lease <br />Agreement as a result of any of the hazards covered in the insurance required by Section 5.4 <br />hereof, with the Authority and the Assignee named as additional insureds, in an amount at <br />least equal to the maximum amount of Lease Payments payable in anyone year period in the <br />case of equipment, and otherwise in any two year period. Such insurance may be carried in <br />conjunction with, and may be subject to the same provisions as, the insurance required under <br />Section 5.4. The City hereby assigns to the Authority all right of the City, if any, to collect and <br />receive Net Proceeds under any of said policies, which right has been assigned by the <br />Authority to the Assignee pursuant to the Assignment Agreement. The Net Proceeds of such <br />insurance shall be paid to the Assignee and shall be credited towards the payment of the Lease <br />Payments in the order in which such Lease Payments come due and payable. <br /> <br />Section 5.6. Title Insurance. <br /> <br />(a) The City shall provide, on the Oosing Date, an ALTA title insurance policy covering, <br />and in the amount of not less than the principal amount of the Lease Agreement, insuring the <br />City's leasehold estate in the Property, subject only to Permitted Encumbrances. A copy of such <br />policy shall be delivered to the Assignee. <br /> <br />(b) The Net Proceeds of such title insurance shall be applied as provided in Section <br />6.2( c) hereof. <br /> <br />Section 5.7. Insurance Net Proceeds; Form of Policies. In the event that the City is not <br />self-insured as hereinafter provided, the City, at its expense, shall throughout the term of this <br />Lease Agreement keep the Property insured against theft, fire, collision (in the case of vehicles) <br />and such other risks as may be customary for each item of Property in the amounts and for the <br />coverage set forth in this Lease Agreement, with carriers acceptable to the Authority, under a <br />policy or policies containing a loss payable endorsement in favor of the Authority and the <br />Assignee, and affording to the Authority such additional protection as the Authority shall <br />reasonably require. The City shall further, at its expense, maintain in effect throughout the term <br />of this Lease Agreement a policy or policies of comprehensive public liability and property <br />damage insurance in the amounts and for the coverage set forth in this Lease Agreement, with <br />carriers satisfactory to the Authority. Such insurance may be maintained as part of or in <br />conjunction with any other insurance carried by the City and may be maintained in whole or in <br />part through a joint exercise of powers authority created for such purpose. The policies <br />required hereby shall provide that they may not be canceled or materially altered without at <br />least 30 days prior written notice to the Authority and the Assignee. The City shall deliver to <br />the Authority and the Assignee copies or other evidence satisfactory to the Authority or the <br />Assignee, as applicable, of each insurance policy and each renewal thereof. Failure by the <br />Authority or the Assignee to request evidence of such insurance policies or renewals, or <br />otherwise to verify the existence of such insurance, shall not constitute a waiver of the <br />requirements hereof. The Authority, the Assignee and the City shall jointly make claim for, <br />receive payment of and execute and endorse all documents, checks or drafts received in <br />payment for loss or damage under said insurance policies. <br /> <br />-12- <br />