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payable under Section 3.U3 hereof. The Company will promptly
report to the Trustee within thirty (30) days of each calendar
~ quarter each such removal, substitution, sale and other disposition
of any item of equipment having a depreciated value (calculated in
accordance with generally accepted accounting practice followed
by the Company) of more than $50,000, or when the aggregate of
any such removed, substituted, sold or disposed of items
of equipment aggregate $1S0,000.
Section 4.03. INSURANCE ]1FTER COMPLETION OF CONSTRUCTION.
SimultaneousZy with delivery of the Bonds, the Company will i
cause to be furnished to the Trustee the insurance policies ;
~or certificates of insurance necessary to compl~~ with the
requirements of 5ection 2.02 hereof, unless the Company
has been permitted by the Issuer and the Trustee to be a
self-insurer pursuant to Section 2.02.
After the construction period, the Company shall, unless
authorized to self-insure by the Issuer and the Trustee, take
out and continuously maintain in effect while any of the Bonds
shall be outstanding and unpaid, the following insurance on
the Mortgaged Property and the Project written on the standard
forms of policy with respect thereto and having deductible amounts
not exceeding those customary in si.milar circumstances, paying as ~
the same become due all premiums with respect thereto: #
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(A) Insurance to the extent of the cost of the
Mortgaged Property including the Project (other than foundations), ~
including the equipment less the accumulated depreciation thereon, ;
against loss thereto from or damage by vandalism and fire and ?
other causes in accordance with uniform standard extended -
coverage endorsement limited only as may be provided in the
standard form of extended coverage endorsement at the time in
use in Florida, provided, however, such insurance shall never
be less than the balance remaining on the purchase price, and
the deductible for such coverage shall never exceed $100,000; .
(B) In time of war in ~ahich the United States-of America
is a belligerent, such insurance to the extent of the full
replacement value of the Mortgaged Property and the Project
(other than the foundations) and the equipment as may be avail-
able from the United States of America against loss thereof
or damage thereto from the risks and hazards of war, if such
insurance is then generally carried by owners of industrial
; plants in Florida;
(C) Use and occupancy insurance as may be reasonably
available in an amount sufficient to enable the Company to
make the installments upon the purchase price as herein provided
during any ti.me the Mortgaged Property and the Project shall be
non-revenue producing as a result of loss of use caused by the
perils covered by fire and extended coverage insurance;
(D) Such worlanen's compensation or employers' liability
insnrance as may be required by law; _
(E) General public liability insurance against claims
for bodily injury or death occurring upon, in or about the
Mortgaged Property and the Project, affording protection to
the limit of not less than $500,000 in respect of bodily injury
or death to any one person and not less than $1,000,000 in
respect of any one accident; and
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