1. MIDA Bond Hospice of Red River Valley

loss or forfeiture by reason of such nonpayment, otherwise, such taxes, assessments or charges shall be paid forthwith or the Corporation shall deposit cash with the Trustee in an amount satisfactory to the Trustee. SECTION 5.05. FACILITIESINSURANCEREoUlREMENTS. The Corporation agrees to: (a) insure the Facilities against fire and other perils covered under the usual "special form" extended coverage endorsement in an amount equal to 100% ofthe replacement cost ofthe Facilities by means of policies issued by reputable insurance companies duly qualified to do such business in the State; (b) carry and maintain liability and extended coverage in the amount customarily required for businesses of like size and nature; and (c) carry and maintain worker's compensation insurance as required by the laws ofthe State. As an alternative, the Corporation may insure the Facilities under a blanket policy or policies which cover not only the Facilities but other properties. All policies evidencing insurance required in this Section 5.05 shall be carried in the names of the Corporation and Trustee as their respective interests may appear and shall contain loss-payable clauses providing that all Net Proceeds ofinsurance resulting from claims for loss or damage covered thereby shall be paid to the Trustee. SECTION 5.06. PUBLIC LIABILITY INSURANCE. The Corporation agrees that it will carry public liability insurance with respect to its activities in the Facilities with one or more reputable insurance companies in amounts as are customary for similar facilities. The insurance provided by this Section 5.06 may be by blanket insurance policy or policies. The Net Proceeds ofthe insurance required in this Section 5.06 shall be applied toward extinguishment or satisfaction of the liability with respect to which such insurance proceeds may be paid. SECTION 5.07. ADDITIONAL PROVISIONS RESPECTING INSURANCE. Each insurance policy provided for in Sections 5.05 and 5.06 hereof shall contain a provision to the effect that the insurance company shall not cancel the policy or modify it materially and adversely to the interest of the Trustee without fIrst giving written notice thereofto the Trustee at least thirty (30) days in advance of such cancellation or modification. Not later than one hundred fifty (150) days after the end of each Fiscal Year, the Corporation will deposit with the Trustee a Certificate of the Corporation stating that such insurance is in full force and effect and that the Corporation is in full compliance with the requirements of Sections 5.05 and 5.06 hereof. The Trustee shall be entitled to rely upon said Certificate of the Corporation as to the Corporation's compliance with Sections 5.05 and 5.06 hereof. The Trustee shall not be responsible for the sufficiency of coverage or the amounts of such policies. Such policies may provide forreasonable deductible amounts but may not provide for co-insurance. The Corporation shall not decrease the amount of any insurance required by Sections 5.05 and 5.06 hereof unless the Corporation provides the Trustee with a certificate from its insurance provider certifying that the proposed amounts are reasonable for a business of like nature and size. SECTION 5.08. Anv ANC ES. If the Corporation shall fail to make all repairs, pay all liens, taxes, assessments and other charges and maintain all insurance required in this Article 5, the Issuer or the Trustee may, but shall not be obligated to, take such action as may be necessary to cure such 5-2