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<br /> thw �xpir+�tion, t�rmina�tion or a�naMllatiot� o� thw praviour ,
<br /> � poliay. .
<br /> (�If �ei�. �n�eL�x•e�s skeall bo authoria�d Co iwst��
<br /> in*ur�nv� in tha S�a1:� in wh�ah thi• Proprrty i• locat�d,
<br /> an� sll inr�ursrs and re�.n�ur�rs shali hsv� ths A.M. ne�t •
<br /> � ra►timg nt "A" or bet�er nnd a linanainl siza r�ting o! xii
<br /> in the aurrent editi.an o! Beet Inauranaa Raportm or suah
<br /> � ot4�er ratings ae aha�li be reasonably acceptable to
<br /> Heneliaiary.
<br /> 1.07 Insuranc�a Proceed�. (a) Trus�or �hall
<br /> give prompt writtsn notfae to 9enePiciary of the o�currenae
<br /> of any d�mage to or destruction of the Improvements (which
<br /> term as used in this seation 1.07 shall inalude Equipatent)
<br /> in an amount qreater than $100,000.
<br /> (b) In the event of any damaqo to or destruation
<br /> of tY:e Improvements or any part thereo� and if Trustior
<br /> ' ahall elect not tc repair or restore this Praper�y or f� :�t
<br /> suah ti�me an Event of Oefaulti shall have occurred and be .
<br /> ���t-�� � continuing h�reunder, BenePicfary shall receive all pro-
<br /> ceeds of haz�rd insurance annl shall apply su�h proceeda to
<br /> the prepayment of the Obligakions in aaaordance with the
<br /> �.,• .
<br /> appl3cablr� terms of the Credit Aqreem�nt.
<br /> ��°, ,� . (c� In the event oP any damage to or destruction
<br /> a€ ttta .I�ngr�van�ants, sn�t �.f� TrustQr shall Ale�t tn r�pa�r
<br /> ox r�store the Improvements, and if an Event of Defa�lt
<br /> i�.,. ..,�.'�,ra , aha�l not have oaour�ed! and be continuing hereuader,
<br /> ���� � � Trustor shall b� en��.tled to reaeive all insurance p�roceeds
<br /> �.,.....,. �
<br /> �� �'' ° � and Truator shall apply suah proceeds to the payment of the
<br /> 1 ,`'�'.Yµ�?ti�� , a�sts and expenses of repairing and restorinq the
<br /> '� " � ���'� Improvements.
<br /> �.,.r�...
<br /> ' i�;�•;;_
<br /> ��, (d) If Section 1.07(b) shall be applicable
<br /> ,- ��-�R��.�;Y.; because of the occurrence and contiauance of an Eveat of
<br /> ���=`�"`'� Default, Beneffaiary shali hav@ the right to settle, adjust
<br /> y��`�-��� or aompromfae any claim under any policy of insurance. In
<br /> ;h:l�s.+k'
<br /> � .L f<.,'.
<br /> ���� '�,� � anl claim.cases, Trustor may settle, adjust or compromise
<br /> :;�!�c'3�!t�,�"�,��,. ]r
<br /> '� 4.�'l �'�i.� '. .
<br /> ��•��"� �"� ; 1.08 Zndemnification, 3ubr_oa�t�.on: Wai.ver of =�';�
<br /> � '�'�`,' �� 0 set. If 8eneficiary or any of the Banks is made a party ���'
<br /> :`c:::..:.: . .. ;�:�;
<br /> :s.. �,�,�.,;. defendant to any litigation concerning this beed of Trust
<br /> -���.._-� or this Property or an� part thereof, or the construation,
<br /> ,�:-.. � � � operation or occupancy of the Improvements by Trustor or
<br /> •�-'��'�� °' anyone else, Truator shall i.ndemnify, dePend and hold
<br /> ;�� , Beneficiary and the Banks harmless from all li.ability by �
<br /> :�:�:; .
<br /> . .�
<br /> ' 00006YtSY.W51 �8�
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