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(1) Casualty Insurance: Casualty insurance on the County Facilities providing 2 coverage in an amount equal to 100% of the replacement costs of the County Facilities; 3 which insurance: ~ > (A) shall only cover the Counry Facilities and not any other property (whether 6 such other property is owned by the Cotmty or a third party); 7 g (B) shall provide that payment of the proceeds thereof up to the required 9 policy dollar limit in connection with damage to the County Facilities shall, under no -0 circumstances, be contingent upon the degree of damage sustained at other facilities 11 owned or leased by the County; 12 i~ (C) shall contain a provision that expressly waives any co-insurance penalty; ~4 and 1~ ~ 6 (D) shall provide that the proceeds of such insurance are available, under all 17 cirsumstances, to repair or rebuild the County Facilities following the occurrence of 18 an insured loss. 19 20 (2) Rental Interruption Insurance: Rental interruption insurance in a dollar amount 2l not less than the maximum amount of principal and interest due with respect to the 1998 ?2 Certificates during any 24 month period during the remaining term of the 1998 Certificates, 23 which insurance policy shall: ?~ ?~ (A) cite the County Facilities constructed with the proceeds of the 1998 26 Certificates that are insured by the Insurer pursuant to the Insurance.Policy; ~~ ?8 (B) name the Trustee as insured parties; and 29 30 (C) provide that amounts paid there under in respect of a claim shall be paid 31 directly to the Trustee and used to make the 1998 Financing Payments when due. 3? 3~ (3) Liability Insurance. Liability insurance with respect to the County Facilities in 3~t such amounts and covering such risks as are reasonable and customary for similar facilities. 35 but taking into account the limitations of the County s tort liability under Oregon law 36 (including without limitation the limitations on liability under the ORS 30.260 through 37 30.300 or any successor thereto). 38 ;9 Pursuant to the submission of the Courthouse Square Project to condominium ownership, the ~o casualty insurance required pursuant to this Section 306 may be carried by the association of unit 41 owners on the County's behalf, and the proceeds of such insurance may be paid to the association ~? of unit owners for the purpose of repairing or reconstructing the Courthouse Square Project. If not FINANCING .aND TRUST AGREEMENT PacE 29