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<br />08.06.2008
<br />
<br />200807161
<br />
<br />File No. 16-471
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<br />permit any waste or deterioration of the Mortgaged Property; (iv) keep and maintain abutting
<br />grounds, sidewalks, roads, parking and landscape areas in good and neat order and repair; (v)
<br />comply with the provisions of any lease, if this Deed of Trust is on a leasehold; and (vi) not
<br />commit, suffer or permit any act to be done in or upon the Mortgaged Property in violation of any
<br />law, ordinance or regulation.
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<br />Section 1.05. Reauired Insurance. Trustor shall provide, maintain and keep at all
<br />times in force the following policies of insurance:
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<br />(a) Insurance upon all Improvements and Personal Property against loss or
<br />damage by fire, lightning and other risks customarily covered by standard "all risk" and
<br />extended covered endorsements, together with theft, vandalism, malicious mischief,
<br />collapse, replacement cost, agreed amount and restoration in conformance with
<br />applicable laws and ordinances, all in such amounts as may be from time to time
<br />required by Beneficiary, but, in no event, less than the full replacement cost of the
<br />Improvements now existing or hereafter erected or placed upon the Property, including
<br />the cost of debris removal, and of all Personal Property, and, in any event, in an amount
<br />not less than the full unpaid balance secured by this Deed of Trust;
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<br />(b) Loss of rent insurance for at least six (6) months;
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<br />(c) Comprehensive general liability insurance (including coverage for
<br />elevators and escalators, if any, on the Mortgaged Property) on an "occurrence basis"
<br />against claims for "personal injury," including, without limitation, bodily injury, death or
<br />property damage occurring on, in or about the Mortgaged Property and the adjoining
<br />streets, sidewalks and passageways, such insurance to afford immediate minimum
<br />protection to a limit satisfactory to Beneficiary and in no event less than One Million
<br />Dollars ($1,000,000.00) with respect to personal injury or death to anyone or more
<br />persons or damage to property;
<br />
<br />(d) Workers' compensation insurance (including employer's liability
<br />insurance, if required by Beneficiary) for all employees of Trustor engaged on or with
<br />respect to the Mortgaged Property in such amount as is satisfactory to Beneficiary, or, if
<br />such limits are established by law, in such amounts;
<br />
<br />(e) During the course of any construction or repair of Improvements on the
<br />Property, builder's completed value risk insurance against "all risks of physical loss,"
<br />including collapse and transit coverage, during construction of such Improvements, with
<br />deductibles acceptable to Beneficiary, in non-reporting form, covering the total value of
<br />work performed and equipment, supplies and materials furnished;
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<br />(f) If requested by Beneficiary, boiler and machinery insurance covering
<br />pressure vessels, air tanks, boilers, machinery, pressure piping, heating, air conditioning
<br />and elevator equipment and escalator equipment, provided the Improvements contain
<br />equipment of such nature, and insurance against loss of occupancy or use arising from
<br />any such breakdown, in such amounts as are satisfactory to Beneficiary;
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<br />(g) If requested by Beneficiary, flood insurance if the Property is in an area
<br />identified as a special flood hazard area pursuant to the Flood Disaster Protection Act of
<br />1973, as amended, or other applicable law, with such insurance to be at least the
<br />amount available under the National Flood Insurance Act of 1968 and, if available under
<br />other policies issued by other sources, then in such additional amounts as Beneficiary
<br />may reasonably require; and
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<br />(h) Such other insurance, including, without limitation, earthquake insurance,
<br />as may from time to time be required by Beneficiary, in such amounts and against such
<br />hazards and risks, as is commonly obtained by prudent owners of property similar in use
<br />to the Mortgaged Property and located in the same area in which the Property is located.
<br />
<br />All policies of insurance required by the terms of this Deed of Trust shall contain an
<br />endorsement or agreement by the insurer that any loss shall be payable in accordance with the
<br />terms of such policy, notwithstanding any act or negligence of Trustor which might otherwise
<br />result in forfeiture of said insurance, and the further agreement of the insurer waiving all rights of
<br />setoff, counterclaim or deductions against Trustor.
<br />
<br />Section 1.06. Deliverv of Insurance Policies. Payment of Premiums. All policies of
<br />insurance shall be issued by companies and in amounts as required by the provisions of the
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<br />Deed of Trust, Security Agreement and Assignment of Rents, Page 4
<br />#553480-v1
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