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. , 99 1Q6857 transfer by operation of law) shall constitute an assignment or transfer of Trustor' s interest in and rights to such funds held by the Beneficiary under this paragraph. 4 . INSURANCE AND REPAIRS . Trustor shall procure and maintain continuously in effect with resp�ct to the Trust Estate policies of insurance against such risks and in such amounts as are customary for a prudent owner of property comparable to the Trust Estate . Without limiting the generality of the foregoing provisions, Trustor shall specifically maintain the following insurance (the "Required Insurance") covering the Mortgaged Property: (a) Property insurance insuring against all risks of direct physical loss on a 100% replacement cost basis in an amount equal to not less than the full insurable value thereof . ( "Full insurable value" shall include the actual replacement cost of the improvements and fixtures therein, without deduction for depreciation, architectural, engineering, legal, and administrative fees) ; and (b) Public liability insurance with reference to the Mortgaged Property with coverage limits in the minimum amounts acceptable to Beneficiary. All required insurance policies shall be effective under a valid and enforceable policy or policies issued by insurers of recognized responsibility. All required insurance policies shall be written in the names of Trustor and Beneficiary, as their respective interests may appear, and shall name Beneficiary in a standard mortgagee clause to be attached to each such policy. Trustor shall deposit with Beneficiary evidence of all such insurance, or a certificate or certificates of the respective insurers stating that such insurance is in force and effect . Each policy of insurance herein required shall contain a provision that the insurer shall not cancel, refuse to renew or materially modify it without giving written notice to Beneficiary at least thirty (30) days before cancellation, nonrenewal or modification becomes effective . On or before the expiration of any policy of insurance herein required, Trustor shall furnish Beneficiary with evidence satisfactory to Beneficiary that the policy has been renewed or replaced by another policy conforming to the provisions of this Section, or that there is no necessity therefor under the terms hereof . In lieu of separate policies, Trustor may maintain blanket policies having the coverage required herein, in which event Trustor shall deposit with Beneficiary a certificate or certificates of the respective insurance as to the amount of coverage in force on the Trust Estate . 6