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18.3 Reimbursement of City and Successor Agency. In the event of Default, Vista Del Rio shall reimburse City and /or Successor Agency immediately upon written demand for all costs reasonably incurred by City and /or Successor Agency (including the reasonable fees and expenses of attorneys, expert witnesses, accountants, appraisers and other consultants, whether the same are independent contractors or employees of City) in connection with the enforcement of the Loan Documents and all related matters including all claims, demands, causes of action, liabilities, losses, commissions and other costs against which City and Successor Agency are indemnified under the Loan Documents. Such reimbursement obligations shall bear interest from the date occurring twenty (20) days after City or Successor Agency gives written demand to Vista Del Rio and shall be secured by the Deeds of Trust. Such reimbursement obligations shall survive the cancellation of the Notes, release and reconveyance of the Deeds of Trust, issuance of a Release of Construction Covenants, and termination of this Agreement. 19. INSURANCE, CASUALTY AND CONDEMNATION 19.1 Policies Required. While any obligation of Vista Del Rio under the Loan Documents remains outstanding, Vista Del Rio shall maintain at Vista Del Rio's sole expense, with insurers either (i) admitted in California or (ii) are not admitted to California but have an A.M. Best Rating of "A" or above and reasonably approved by the City, the following policies of insurance in form and substance reasonably satisfactory to the City Attorney: (a) worker's compensation insurance and any other insurance required by law in connection with the construction; (b) prior to commencement until following completion of the construction, fire and hazard "all risk" insurance covering 100% of the replacement cost of the Improvements in the event of fire, lightning, windstorm, vandalism, malicious mischief and all other risks normally covered by "all risk" coverage policies in the area where the Property is located; which said insurance shall expressly include damage or loss by flood or storm; (c) upon commencement of the construction and at all times prior to completion of the construction, builder's risk /all risk insurance covering 100% of the replacement cost of all Improvements (including offsite materials) during the course of construction in the event of fire, lightning, windstorm, vandalism, earthquake, malicious mischief and all other risks normally covered by all risk coverage policies in the area where the Property is located; which said insurance shall expressly include damage or loss by flood or storm; (d) general liability insurance in amounts reasonably required by City from time to time, and in no event less than $5,000,000 for "single" occurrence; (e) public liability insurance in amounts reasonably required by City from time to time, and in no event less than $1,000,000 for "single" occurrence; (f) property damage insurance in amounts reasonable required by City from time to time, and in no event less than $1,000,000. (g) any other insurance reasonably required by Successor Agency /City. 38 DOC SOC/ 1475221 v 10/200272 -0004