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200313159 (d) A waiver of subrogation from any insurer to the effect that such insurer has no claim as to Trustor or the then owner or other insured under the policy of insurance in question. (e) Such performance and payment bonds, and such insurance, in such amounts, issued by such company or companies and in such forms and substance, as are required by Beneficiary. (f) Evidence that zoning, building and other necessary permits and approvals have been obtained. (g) Satisfactory evidence is delivered to Beneficiary that the improvements can be rebuilt substantially to the same as those originally financed and can with restoration and repair continue to be operated for the purposes utilized prior to such damage. (h) Evidence that the appraised value of the Premises after such restoration or repair shall not be less than its appraised value as of the date hereof. (i) Evidence of fulfillment of all other requirements which Beneficiary may reasonably make in connection with repair of the improvements on the Premises. In the event Trustor shall fail to restore, repair or rebuild the improvements upon the_ Premises within a reasonable time, then such failure shall constitute an Event of Default and Beneficiary, at its option and upon not less than thirty (30) days written notice to Trustor, may in addition to its remedies contained in Article 8 hereof (i) restore, repair or rebuild the said improvements for or on behalf of Trustor and for such purpose, may perform all necessary or appropriate acts to accomplish such restoration, repair or rebuilding or (ii) apply all or any part of Net Proceeds on account of the last maturing installments of the Indebtedness whether then due or not. In the event insurance proceeds or an eminent domain award shall exceed the amount necessary to complete the repair, restoration, or the rebuilding of the improvements upon the Premises, such excess may, at Beneficiary's option, be applied on account of the last maturing installments of the Indebtedness, irrespective of whether such installments are then due and payable, without application of a prepayment premium, or be returned to Trustor. ARTICLE 6. LEASES AND RENTS SECTION 6.1 Leases. Trustor will, at its own cost and expense, perform, comply with and discharge all of the obligations of Trustor under any leases and use its best efforts to enforce or secure the performance of each obligation and undertaking of the respective tenants under any such leases and will appear in and defend, at its own cost and expense, any action or proceeding arising out of or in any manner connected with Trustor's interest in any leases pertaining to the Premises. Trustor will not modify, extend, renew, terminate, accept a surrender of, or in any way alter the terms of the leases, nor borrow against, pledge or assign any rentals due under the leases nor consent to a subordination or assignment of the interest of a tenant thereunder to any party other 15311/53;09/30/03 -16-