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200306662 of the Improvemems, whichever is less, The policies will contain an agroemcm by each insurer that life policy willnot be terminated or modified without at least thirty (30) days' prior written notice to the Beneficiary and willcontain a mortgage clause acceptable to the Beneficiary; and the Trmmr willrakc such other action as the Beneficiary may reasonably request to ensure that the Beneficiary will receive (subject to no other interests) the insurance proceeds from the Improvements. The Trustor hereby assigns all insmance proceeds to and irrevocably directs, while any Obligations remain unpaid, any insurer to pay to the Beneficiary me proceeds of all such insurance and any premium refund; and authorizes the Beneficiary to endorse the Tmstoi s name to effect the same, to make, adjust or settle, in the Tmstoi s name, any claim on any insurance- policy relating to the Premises. The proceeds and refunds whine applied in such manner as the Beneficiary, in its sole and absolute discretion, determines to rebuilding of the Premises or to payment of the Obligations, whether or not then duo unit payable. 2.7 Condemnation. Any compematlon received for the taking of the Premises, or any part thereof, by a condemnation proceeding (including payments in conpromise of condemnation proceedings), and all compensation received as damages for injury to the Premises, or any pan thereof, shall be applied of such manner as the Beneficiary, in its sole and absolute discretion, detimina es to rebuilding of the Premises or to payment of the Obligations, whether or not then due and payable. 2.8 Environmental Matters. Except as specifically disclosed by Trasbdr to Beneficiary in writing prior to die execution of this Deed of Trust, Trustor represents and warrants as follows. There exists no uncorrected violation by the Truster of any federal. state or local laws (including stamteL,, regulations, oNinanus or other goventmemal restrictions and requirements) relating to the discharge of air pollutants, water pollutants or process waste water or otherwise relating to the environment or Hinodcus Substances as hercinelter dcfmed, whether such laws currently exist or are enacted in the future (collectively 'Environmental Laws "). The term "Hazardous Substances will ocean any lhaznrdous or toxic wastes, chemicals or other substances, the generation, possession or existence of which is prohibited or governed by any E virutmental Caws. The Trustor is not subject to any judgment, decree, order or citation, or a party to (or threatened with) any litigation or a tramadtative proceeding, which asserts that the Toaster (a) has violated any Environmental Laws; (b) is required to clean up, remove or take remedial or other action with respect to any Hazardous Substances (collectively "Remedial Action "); or (c) is required to pay all or a portion of the cost of any Remedial Action, as a potentially respamible party. Except as disclosed on the Borrower's cnvimnmcntal yaestionnaire provided to the Beneficiary, there are not now, nor to the Truator's knowledge after reasonable investigation have there ever been, any Hazardous Substances ((it tanks or other facilities for the storage of Hazardous Subatances) stored. deposited, recycled or disposed of on, under or at any real catate owned or occupied by the Tmstor dnring the periods that the Toaster owned or occupied such real estate, which ifpreseat on the real estate or in soils or ground wateq could require Remedial Action To the 'frosts is knowledge, there are no proposed or pending changes. in Environmental Laws which would adversely affect the Trustor or its business, and there are no conditions existing currently or likely to exist while the Loan Documents arc in effect which would subject the Truster to Remedial Action or other liability _ The Truster currently complies with and will continue to timely comply with all applicable EcviromnenMl Laws; and will provide the Beneficiary, immediately upon receipt, copies of any correspondence, notice, complaint, order or other document from any sours: assorting or alleging any oirmunstance, or condition which requires or may require o financial contribution by the Trustor or Remedial Action or other respomc by or on the part of the Truster under Bnvironmental Laws, or which Becks damages or civil, criminal or punitive penalties from the Truster for an alleged violation of Environmental Laws. In the event of any such circumstance or condition, the Trustor agrees, at its expense and at the request of the Bcnoficlary, to permit an enviromheftal audit solely for the benefit ofihe Beneficiary, to be conducted by the Beneficiary or an independent agent selected by the Beneficiary and which may our be relied on by the Trosmr for any purpose. This provision shall not relieve die Trustor from conducting its own environmental audits or taking any other steps necessary to comply with Environmental Laws, 2.9 Assignments. The Trustor willnot assign, in whole or in part, without the Beneficiary's prior written consent, the rents, hest acs ar profits arising from the Premises. 2.10 Right of Inspection. The Beneficiary may at all reasonable tunes enter and inspect the Premises. 2.11 waivers by Trustor. To the greatest extent that such rights may then be lawfully waived, the Truster hereby agrees for itself and any persons claiming under the Deed of Trust that it will waive and willnot, at any time, insist upon or plead or in any manner whatsoever claim or take any benefit or advantage of (a) any exemption, stay, extension or moratorium law now or at any tune hereafter in force, (b) any law now or hereafter in force providing for the valuation or appraisement of the Promises or any pad t encof prior to any sale on sales thereof to be made pursuant to any provision hereim contained orpursnont to the decree, judgment or order of any court of competent jurisdiction (e) to the extent permitted by law, any law now or at any time hereafter made or enacted granting a right to redeem froth foreclosure or any other rights of redemption in connection with foreclosure of, or exercise of any power of sale under, this Deed ofRusq (d) any statute of limitations now or at any time hereafter in force; or (c) any right to require marshalling of assets by the Beneficiary . 2.12 Assignment of Kenna and Leases. The Trustor assigns and transfers to the Beneficiary, as additional security fur We Obligatiom, all right, title a] interest of the Trustor in and to all leases which now exist or hereafter may be executed by or on behalf of the 'Trustor covering the Premises and any extensions or renewals thereof, together with all Rents, it being intended that this is an absolute and present assignment or the Rods. Notwithstanding that this assignment constimtea a present assignment of leases anal rents, the Trustor may collect the Rems and manage the Promises, but only ifand so long as u default has not occurred. Ifa default 1714NE Page 3 of s 10101