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basis and shall name the Beneficiary as an additional insured. Trustor shall maintain <br />workers' compensation insurance as required by law. <br />7.10.2 Trustor shall file with Beneficiary prior to the commencement of the <br />term hereof, certificates (or such other proof as Beneficiary may require, including <br />without limitation, copies of the required insurance policies) evidencing each of the <br />insurance policies and endorsements thereto as required by this Section, and such <br />certificates (or policies) shall provide that at least thirty (30) days' prior written notice <br />shall be provided to Beneficiary prior to the expiration, cancellation or change in <br />coverage under each such policy. <br />7.10.3 If any insurance policy required hereunder is canceled or the <br />coverage provided thereunder is reduced, Trustor shall, within twenty-one (21) days <br />after receipt of written notice of such cancellation or reduction in coverage, but in no <br />event later than the effective date of cancellation or reduction; file with Beneficiary a <br />certificate showing that the required insurance has been reinstated or provided through <br />another insurance company or companies. Upon failure to so file such certificate, <br />Beneficiary may, with notice and at its option, procure such insurance coverage at <br />Trustor's expense, and Trustor shall promptly reimburse Beneficiary for such expense <br />upon receipt of billing from Beneficiary. <br />7.10.4 The insurance policies required hereunder shall be issued by <br />insurance companies authorized to do business in the State of California with a financial <br />rating of at least A VII status as rated in the most recent edition of Best's Key Rating <br />Guide. Each policy of insurance shall contain an endorsement requiring the insurer to <br />provide at least thirty (30) days written notice to Beneficiary prior to change in coverage, <br />cancellation or expiration thereof. <br />7.11 Hazardous Materials. Trustor represents and warrants that except as <br />disclosed to Beneficiary in writing, as of the date hereof to the best knowledge of <br />Trustor: (i) the Land is free and has always been free of Hazardous Materials (as <br />defined below) and is not and has never been in violation of any Environmental Law (as <br />defined below); (ii) there are no buried or partially buried storage tanks located on the <br />Land; (iii) Trustor has received no notice, warning, notice of violation, administrative <br />complaint, judicial complaint, or other formal or informal notice alleging that conditions <br />on the Land are or have ever been in violation of any Environmental Law or informing <br />Trustor that the Land is subject to investigation or inquiry regarding Hazardous <br />Materials on the Land or the potential violation of any Environmental Law; (iv) there is <br />no monitoring program required by the Environmental Protection Agency or any other <br />governmental agency concerning the Land; (v) no toxic or hazardous chemicals, waste, <br />or substances of any kind have ever been spilled, disposed of, or stored on, under or at <br />the Land, whether by accident, burying, drainage, or storage in containers, tanks, <br />holding areas, or any other means; (vi) the Land has never been used as a dump or <br />landfill; and (vii) Trustor has disclosed to Beneficiary all information, records, and <br />studies in Trustor's possession or reasonably available to Trustor relating to the Land <br />concerning Hazardous Materials. Beneficiary acknowledges that Beneficiary has <br />received copies of the following environmental reports: Phase I Environmental <br />ii8o284-b <br />