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99-sc�3s12 -4- shall have the right at all times to make or permit such alterations, improvements or new construction, structural or otherwise (herein sometimes called collectively "alterations"), of or on the Property to be made in all cases subject to the following conditions: (a) all work done in connection with any alterations shall be done promptly and in a first-class and workmanlike manner; (b) the cost of all alterations shall be paid promptly so as to keep the Property free of all liens; (c) no alterations of any kind shall be made to the Property which shall change the use or reduce the value of the Property in any material respect; and (d) no alteration involving an estimated cost of materials and construction labor as reasonably estimated by the Grantor in excess of $75,000 shall be undertaken without the prior written consent of Beneficiary, which shall not be unreasonably withheld or delayed. Grantor shall permit Beneficiary to enter the Property at any reasonable time to determine whether Grantor is in compliance with its obligations under this Leasehold Mortgage. All construction on the Property shall comply with, and each and every part of the Property shall be maintained and used in accordance with, all applicable federal, state and local laws and governmental regulations, the Lease, and any lawful private restrictions or other requirements or provisions, relatin,g to the maintenance or use thereof. 2.4. Insurance. The Grantor agrees, at Grantor's sole cost and expense, to keep the Property insured or to cause the Landlord to keep the Property insured (in accordance with the terms of the Lease), at all times throughout the term of this Leasehold Deed of Trust with policies of insurance as follows: (a) property or physical hazard insurance on an "all risks" basis, with broad form flood and earthquake coverages, and building code, valuable papers, extra expenses, extended period of indemnity and electronic data processing coverages, with a full replacement cost endorsement (including builder's risk during any period or periods of time that construction or remodeling is being performed on the Property) and an "agreed amount" clause, in an amount equal to 100% of the full replacement cost of all improvements (excluding only the reasonable value of footings and foundations) and Grantor's contents therein, such amount to be BUSDOCS:7233 i9.2