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books of account and other records (including copies of supporting bills and invoices) <br />adequate to document the use of the Loan Proceeds and the operation of the Property, <br />together with copies of all written contracts, Leases and other instruments which affect <br />the Property. The books, records, contracts, Leases and other instruments shall be <br />subject to examination and inspection by Beneficiary at any reasonable time following <br />two business days prior notice. <br />7.8 Charges Liens, Taxes and Assessments. Trustor shall pay before <br />delinquency all taxes, levies, assessments and other charges affecting the Property that <br />are (or if not paid may become) a lien on all or part of the Property. Trustor may, at <br />Trustor's expense, contest the validity or application of any tax, levy, assessment or <br />charge affecting the Property by appropriate legal proceedings promptly initiated and <br />conducted in good faith and with due diligence, provided that (i) Beneficiary is <br />reasonably satisfied that neither the Property nor any part thereof or interest therein will <br />be in danger of being sold, forfeited, or lost as a result of such contest, and (ii) Trustor <br />sha11 have posted a bond or furnished other security as may reasonably be required <br />from time to time by Beneficiary; and provided further that Trustor shall timely make any <br />payment necessary to prevent a lien foreclosure, sale, forfeiture or loss of the Property. <br />7.9 Subrogation. Beneficiary shall be subrogated to the liens of all <br />encumbrances, whether released of record or not, which are discharged in whole or in <br />part by Beneficiary in accordance with this Deed of Trust. <br />7.10 Hazard, Liability and Workers' Compensation Insurance. At all times <br />during the term hereof, at Trustor's expense, Trustor shall keep the Improvements and <br />personal property now existing or hereafter located on the Property insured against loss <br />by fire, vandalism and malicious mischief by a policy of standard fire and extended all- <br />risk insurance. The policy shall be written on a full replacement value basis and shall <br />name Beneficiary as loss payee as its interest may appear. The full replacement value <br />of the improvements to be insured shall be determined by the company issuing the <br />policy at the time the policy is initially obtained. Not more frequently than once every <br />two (2) years, either the Trustor or the Beneficiary shall have the right to notify the other <br />party that it elects to have the replacement value redetermined by the insurance <br />company. Subject to the rights of any senior lienholder, the proceeds collected under <br />any insurance policy may be applied by Beneficiary to any indebtedness secured <br />hereby and in such order as Beneficiary may determine, or at the option of Beneficiary, <br />the entire amount so collected or any part thereof may be released to Trustor. Such <br />application or release shall not cure or waive any default or notice of default hereunder <br />or invalidate any act done pursuant to such notice. <br />7.10.1 Trustor shall at all times during the term hereof, maintain a <br />comprehensive general liability insurance policy in an amount not less than One Million <br />Dollars ($1,000,000) each occurrence, Two Million Dollars ($2,000,000) annual <br />aggregate, together with Three Million Dollars ($3,000,000) excess liability coverage or <br />such other policy limits as Agency may require in its reasonable discretion, including <br />coverage for bodily injury, property damage, products, completed operations and <br />contractual liability coverage. Such policy or policies shall be written on an occurrence <br />ii8o28q-6 <br />