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- 7 - 200111898 the Trustor's cost and expense, any such mortgages, deeds of trust, Liens, security interests, charges or encumbrances upon the Trust Estate or any portion thereof or interest therein. Section 1.05. Insurance and Casualty and Condemnation Events. (a) Insurance. The Trustor shall purchase and maintain in full force and effect policies of insurance in such form and amounts, covering such risks, and issued by such companies, in each case in the manner and to the extent required pursuant to Section 5.04 of the Credit Agreement and shall cause each of such policies to name the Beneficiary and the Trustee as loss payee (to the extent covering risk of loss or damage to tangible property) and as an additional named insured as their interests may appear (to the extent covering any other risk) Each policy shall provide that it will not be canceled or reduced, or allowed to lapse without renewal, except after not less than 30 days' notice to the Beneficiary and the Trustee. The Trustor expressly assumes all risk of loss, including a decrease in the use, enjoyment or value of the Trust Estate from any fire or other casualty whatsoever, whether or not insurable or insured against. The Trustor will advise the Beneficiary and the Trustee promptly of any policy cancellation, reduction or amendment. (b) Casualty and Condemnation. Should the Trust Estate or any part thereof be taken or damaged by reason of any fire or other casualty (collectively, a "Casualty "), or by reason of any public improvement or condemnation proceeding (collectively, a "Condemnation ") or should the Trustor receive any notice or other information regarding any such proceeding, the Trustor shall give prompt notice thereof to the Beneficiary and the Trustee. The Beneficiary shall be entitled to receive all insurance or other amounts payable as a result of any such Casualty (collectively, the "Casualty Proceeds "), and all compensation, awards, damages and other payments or relief arising out of any such condemnation or any part thereof (collectively, "Condemnation Proceeds "), and all such insurance and other amounts, and compensation, awards, damages and other payments or relief, together with all rights and causes of action relating thereto or arising out of any such Casualty or Condemnation, are hereby assigned to the Beneficiary. The Trustor shall execute such further assignments of the Casualty Proceeds and Condemnation Proceeds as the Beneficiary may from time to time require. (c) Restoration Account. Following the occurrence of any Casualty or Condemnation involving the Trust Estate or any part thereof resulting in a loss in excess of $500,000, the Trustor shall give prompt notice thereof to the Beneficiary and shall cause all Casualty or Condem=tion Proceeds, as the case may be, to be paid to the Beneficiary as additional collateral security hereunder subject to the Lien of this Deed of Trust. Upon receipt by the Beneficiary of any such proceeds (including, without limitation, any Casualty Proceeds payable directly to the Beneficiary as loss payee under the respective policies maintained pursuant to paragraph (a) of this Section 1.05), the Beneficiary shall deposit the same into a cash Deed of Trust NY 1: #3303402v2