The Property Manager shall, on behalf of and at each Owner Subsidiary’s expense, procure and maintain throughout the term hereof through Independent Insurance Advisors, as each Owner Subsidiary’s designated insurance representative, insurance coverages with respect to each Property, including: (i) all-risk replacement value property damage coverage insuring the full value of the Properties and the applicable Owner Subsidiary’s personal property and fixtures and rent loss coverage for at least twelve (12) months; (ii) commercial general liability and umbrella liability coverages in an amount not less than $10,000,000 combined single limit per occurrence and in the aggregate per year; and (iii) such other insurance as the Property Manager deems appropriate. All insurance policies shall have provisions giving the Property Manager thirty (30) days’ prior notice of cancellation, non-renewal or material modification of the coverage. All insurance policies maintained by the Owner with respect to the Properties shall be issued through insurers with an A.M. Best rating of A or better and shall include waiver of subrogation provisions in favor of the Owner. The Property Manager, any Sub-Manager engaged by the Property Manager in accordance with Section 2.1 of this Property Management Agreement, the Company and the Company’s Representative as defined in Section 8.2 hereof shall be named as additional insureds (with form CG 2010 85 or equivalent) on any liability insurance maintained by the Owner on each Property, and such liability insurance shall be primary to and not contribute with any liability insurance maintained by the Property Manager.