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200804831 (ii) Nonpayment of such Impositions will not result in the loss or forfeiture of any Property encumbered hereby or any interest of Bank therein. If Bank determines that anyone or more of such conditions is not satisfied or is no longer satisfied, Borrower will pay the Impositions in question, together with any interest and penalties thereon, within ten (10) days after Bank gives notice of such determination. 4.5 Maintenance of Insurance. Borrower shall provide and maintain policies of insurance on the Property in accordance with the Reimbursement Agreement. (a) Deposit for Premiums. Concurrently with the delivery of this Deed of Trust, Borrower has deposited with Bank ("Insurance Escrow Account") an amount equal to 1/12th of the amount which Bank estimates will be required to make the next annual payments of the premium for the policies of insurance referred to in this section, multiplied by the number of whole and partial months which have elapsed since the most recent policy anniversary date for each such policy ("Insurance Premium"), With each monthly payment under the Note, Borrower will deposit an amount equal to 1I12th of the amount which Bank estimates will be required to pay the next required annual premium for each insurance policy referred to in this section. The purpose of these provisions is to provide Bank with sufficient funds on hand to pay all such Insurance Premiums thirty (30) days before the date on which they become past due. Borrower shall, within ten (10) days after receipt of demand therefor, deposit such additional funds as are necessary to make up any deficiencies in amounts necessary to pay such Insurance Premiums when due. Provided no default exists hereunder, Bank will apply the amounts so deposited to the payment of such Insurance Premiums when due, but in no event will Bank be liable for any interest on any amount so deposited, and the money so received may be held and commingled with Bank's own funds. (b) Renewal Policies. Not less than fifteen (15) days prior to the expiration date of each insurance policy required pursuant to subsection 4.5(a) above, Borrower will deliver to Bank a copy of an appropriate renewal policy certified by Borrower as complete and accurate, together with evidence satisfactory to Bank that the applicable premium has been prepaid. (c) Application of Hazard Insurance Proceeds, Any insurance proceeds received as a consequence of casualty shall be applied in accordance with the terms of the Reimbursement Agreement. (d) Successor's Rights. Any person who acquires title to the Property or the Collateral upon foreclosure hereunder will succeed to all of Borrower's rights under all policies of insurance maintained pursuant to this section, including, without limitation, all rights to all claims under all such insurance policies regardless of the nature of such claim or when such claim arose, 4.6 Maintenance and Revair of Property and Collateral. Borrower will at all times maintain the Property and the Collateral in good condition and repair, and will diligently prosecute the completion of any infrastructure, building or other improvement which is at any time in the process of construction on the Property in material compliance with all building codes and other governmental requirements and in accordance with the Reimbursement 103209-60617-957802v5 9 US Bank / Riverbend Apartments Phase 1 Deed of Trust