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86, 10751$]
<br />(b) Trustor forthwith upon the execution and delivery of
<br />this Deed of Trust, and thereafter from time to time, will cause
<br />this Deed of Trust, and any security instrument creating a lien
<br />or evidencing the lien hereof upon the Property and each
<br />instrument of further assurance, to be filed, registered or
<br />recorded in such manner and in such places as may be required by
<br />any present or future law in order to publish notice of and fully
<br />to protect the lien hereof upon, the title of Trustee to, and the
<br />security interest of Beneficiary in the Property.
<br />(c) Trustor will pay all filing, registration and recording
<br />fees, and all expenses incident to the execution and
<br />acknowledgment of this Deed of Trust, any deed of trust
<br />supplemental hereto, any security instrument with respect to the
<br />Property, and any instrument of further assurance, and all
<br />federal, state, county and municipal stamp taxes and other taxes,
<br />duties, imposts, assessments and charges arising out of or in
<br />connection with the execution and delivery of the Note, this Deed
<br />of Trust, any deed of trust supplemental hereto, any security
<br />instrument with respect to the Property, any Loan Document (as
<br />defined in the Loan Agreement executed this even date between the
<br />Trustor and Beneficiary) or any instrument of further
<br />assurance.
<br />1.04. Insurance and Condemnation. (a) Trustor will keep the
<br />Property insured against loss or damages by fire with extended
<br />coverage and against any other risks or hazards which, in the
<br />opinion of Beneficiary, should be insured against to the amount
<br />of the full insurable value thereof on a replacement cost basis
<br />(or less in the discretion of Beneficiary) with a company or
<br />companies and in such form and with such endorsements as may be
<br />approved or required by Beneficiary. Loss under said insurance
<br />shall be payable to Beneficiary and shall be applied in the same
<br />manner as provided in Section 1.05 hereof, and said insurance
<br />policies shall be endorsed with a standard non- contributory
<br />mortgagee clause, and may only be cancelled or modified upon not
<br />less than thirty (30) days' prior written notice to
<br />Beneficiary. Trustor will also carry public liability insurance,
<br />Builder's Risk insurance and Flood Insurance in such form,
<br />amounts and with such companies as Beneficiary may from time to
<br />time require, with Beneficiary included thereon as a named
<br />insured under a standard mortgagee endorsement of the character
<br />above described. The policy or policies evidencing all insurance
<br />referred to in this paragraph or certificates of such insurance
<br />satisfactory to Beneficiary, together with receipts for the
<br />payment of premiums thereon, shall be delivered to and held by
<br />Beneficiary. Beneficiary shall not by the fact of approving,
<br />disapproving, accepting, preventing, obtaining or failing to
<br />obtain any insurance, incur any liability for the form or legal
<br />sufficiency of insurance contracts, solvency of insurance
<br />companies, or payment of lawsuits, and Trustor hereby expressly
<br />assumes full responsibility therefor and liability, if any,
<br />thereunder. In the event any policy hereunder is not renewed on
<br />or before 30 days prior to its expiration date, Trustee or
<br />Beneficiary may procure such insurance in accordance with the
<br />provisions of paragraph 1.16 hereof. Trustor shall deliver to
<br />Beneficiary the original policies of insurance and renewals
<br />thereof or memo copies of such policies and renewals thereof.
<br />Failure to furnish such insurance by Trustor, or renewals as
<br />required hereunder shall, at the option of Beneficiary,
<br />constitute a default.
<br />(b) Trustor, upon obtaining knowledge of the institution of
<br />any proceedings for the condemnation of the Premises and
<br />Improvements or any portion thereof or knowledge of any casualty
<br />damage to the Property or damage of any other kind, will
<br />immediately notify Beneficiary. Beneficiary may participate in
<br />any proceedings and join Trustor in adjusting any loss covered by
<br />insurance. All compensation, awards, proceeds, damages, claims,
<br />rights of action and payments to which Trustor may become
<br />entitled shall be paid over to Beneficiary. Beneficiary shall
<br />have the sole and absolute discretion, notwithstandinq the fact
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