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2 01502075 (a) to promptly commence work and to complete the proposed improvements promptly; (b) to complete same in accordance with plans and specifications as approved by Beneficiary; (c) to comply with all of the terms of any Building Loan Agreement between Trustor and Beneficiary; (d) to allow Beneficiary to inspect the Property at all times during construction; and (e) to cause the replacement or correction of any work or materials which do not comply with the plans and specifications as approved by the Beneficiary and which are reasonably unsatisfactory to Beneficiary, within thirty (30) days after written notice from Beneficiary of such fact, which notice shall be given to Trustor by registered or certified mail, return receipt requested, postage prepaid, sent to its last known address, or by personal service of the same. Section 1.04. Maintenance, Repair, Alterations. Trustor shall: (i) keep the Mortgaged Property in good condition and repair, subject to reasonable and ordinary wear and tear; not remove, demolish or substantially alter (except such alterations as may be required by laws, ordinances or regulations) any of the Improvements; (ii) complete promptly and in good and workmanlike manner any building or other improvement which may be constructed on the Property and promptly restore in like manner any Improvement which may be damaged or destroyed thereon, subject to the provisions of Section 1.07, and to pay when due all claims for labor performed and materials furnished therefor; (iii) comply with all laws, ordinances, regulations, covenants, conditions and restrictions now or hereafter affecting the Mortgaged Property, or any part thereof, or requiring any alterations or improvements; not to commit or permit any waste or deterioration of the Mortgaged Property; (iv) keep and maintain abutting grounds, sidewalks, roads, parking and landscape areas in good and neat order and repair; (v) comply with the provisions of any lease, if this Deed of Trust is on a leasehold; and (vi) not commit, suffer or permit any act to be done in or upon the Mortgaged Property in violation of any law, ordinance or regulation. Section 1.05. Required Insurance. Trustor shall provide, maintain and keep at all times in force the following policies of insurance: (a) Insurance upon all Improvements and Personal Property against loss or damage by fire, lightning and other risks customarily covered by standard "all risk" and extended covered endorsements, together with theft, vandalism, malicious mischief, collapse, replacement cost, agreed amount and restoration in conformance with applicable laws and ordinances, all in such amounts as may be from time to time required by Beneficiary, but, in no event less than the full replacement cost of the Improvements now existing or hereafter erected or placed upon the Property, including the cost of debris removal, and of all Personal Property, and, in any event in an amount not less than the full unpaid balance secured by this Deed of Trust; 5