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5. Section 8. 1 and 8.2 of Article 8 is hereby amended in their entirety to read as <br /> follows: <br /> "8. 1 All-Risk Insurance. Each Party shall carry a policy or policies of all risk <br /> property insurance on the Improvements on its Parcel in an amount equal to the full replacement <br /> value of the Improvements being insured (excluding the costs of foundation, excavations and <br /> footage). <br /> (1) The Parties may satisfy this obligation by insuring the <br /> Improvements through the All Risk Property Insurance Policy and the Pollution Liability Policy <br /> maintained by MidPen Housing Corporation ("MidPen") a related entity to MP Mezes, Inc., the <br /> general partner for Mezes Court Associates. Mezes and Raiser shall bear the cost of the <br /> premiums for said policy in accordance with their square footage of the Project and shall be <br /> invoiced separately by the insurance carrier(s) for the premiums associated with coverage for <br /> their respective Parcels. <br /> (2) If the Parties satisfy the property insurance obligation through the <br /> Al.! Risk Property Insurance Policy and Pollution Liability Policy maintained by MidPen, it is <br /> agreed that (1) Raiser and its applicable related entities identified in Exhibit A (attached hereto) <br /> will be added as named insureds on the All Risk Property Insurance Policy and the Pollution <br /> Liability Policy applicable to damages and claims related to the Commercial Parcel, (2) that <br /> Rasier's Mortgagee(s) will be named in a Loss Payable Endorsement related to the All Risk <br /> Property Insurance Policy for the Commercial Parcel, and (3) Mezes will be added as named <br /> insured on the All Risk Property Insurance Policy and the Pollution Liability Policy applicable to <br /> damages and claims related to the Residential Parcel. <br /> (3) If the Parties satisfy the property insurance obligation through the <br /> All Risk Property Insurance Policy and Pollution Liability Policy maintained by MidPen, then <br /> upon the occurrence of property damage covered by these policies, insurance claims and policy <br /> proceeds shall be handled as follows: <br /> (a) If the damage from an occurrence covered by the All Risk <br /> Property Insurance Policy and Pollution Liability Policy is limited to Improvements on either the <br /> Residential or Commercial Parcels then the Owner for the Parcel where the damage occurred <br /> 6 <br />