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�;: j. � � � � ��. � iool8o � All such inRUrAnc� rolic�.ee which GT�ret�+r msints�rts �tsy bQ in � the form of blanket policies in form and substance satisfactory to Beneficiary. Subject to the provision that the amount of property � inaurance need not exceed that required by Subseation 3(�) hereof, each policy shall contain a replacement coat endoraement, a chattel mortgage loas payable clause, s mortgagee' s loss payable endorsement ' and auch other endoraementa aufficient to prevent Crantor and Beneficiary from becoming coinsur�rs within the terma o£ such insurance with reapect to auch buildings and improvements. All auch insurance shall be subject to the approval of Benefic iAry as to inaurance companies, amounts, content and forms of policies and expiration dates. Grantor further agreea that Grantor will deliver to Beneficiary the original policies or certifica�es thereof, together with a certified copy of the insurance policy or a short form insurance policy evidencing auch insvrance and any additianal insurance which shall be taken out upon any pert of the Property and receipta evidencing the payment of all premiuma ten (ZL') �lays before the effective date of such policies, and Grantor will deliver policies evidencing renewals of all such policies of insurance to Beneficiary thirty (30) days before any such insurance shall expire. In default of the foregoing inaurance requirements , Beneficiary may procure ; auch insurance, pay the premiums thereon, and charge back to Grantor . the coat thereof as provided herein. Without limiting the . � discretion of Beneficiary with respect to required endorsements to � inst��rarl�p rnl j,n'1s�g� (:rartnr ��,:rthAr goarAAg ths�t 8ZZ ea.�nl'! �L�l�n�p� � � _.-- � shall provide that proceeda thereunder will be payabie to ' .. Beneficiary as its interest may appear pursuant and subject to a . mortgagee clause (without cantribution) of standard form aetached to ..;� or otherwise msde a part of the applicable policy. Grantor further agrees that all such insurance policies shall provide, if possible, �• � for the payment of all costa anc� expenses incurred by Beneficiary in �: � the event of any contested claim and for at least thirty (30) days � prior written notice to Beneficiary prior to any amendment, � cancellation or termination. In the event proceedings have been ;i commenced for the exercise of the power of sale contained in this ' , Deed of Trust or for the foreclosure of this Deed of Trust, or in , { � the event Beneficiary shall take posaession of the Property, all ' ` " right, title and interest of Grantor in and to such policies then in �� force concerning the Property and all proceeds payable thereunder to :�-, grantor shall thereupon vest in Beneficiary, if in possession, the �. �, receiver, or the purchaser at such sale or forec7.oaure. In the � - event any of the Property covered by such insurance is destroyed or : damaged by fire, explosion, windstorm, hail or by any other casuslty � ageinst which insurance shall have been required hereunder, (i) Beneficiary may, but shall not be obligated to, make proof of loss if not made promptly by Grantor with each insurance cvmpany concerned and such companies are hereby authorized and directed to make payment for such loss directly to Beneficiary instead o£ to grantor, and (ii) Beneficiary sha11 have the right to apply the 8 _ L� � � �c { �� ` . �.�� -- 5 _1 ` J(; . i • t��. ,�,: af!i', ��''`f�lr � � tw`� y; :