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another insurance company or companies. Upon failure to so file such certificate,
<br /> Beneficiary may, without further notice and at its option, procure such insurance
<br /> coverage at Trustor's expense, and Trustor shall promptly reimburse Beneficiary for
<br /> such expense 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. If any insurance policy required pursuant to the Loan
<br /> Documents is canceled or the coverage provided thereunder is reduced, Trustor shall,
<br /> within ten (10) days after receipt of written notice of such cancellation or reduction in
<br /> coverage, but in no event later than the effective date of cancellation or reduction, file
<br /> with Beneficiary a certificate showing that the required insurance has been reinstated or
<br /> provided through another insurance company or companies. Upon failure to so file
<br /> such certificate, Beneficiary may, without further notice and at its option, procure such
<br /> insurance coverage at Trustor's expense, and Trustor shall promptly reimburse
<br /> Beneficiary for such expense upon receipt of billing from Beneficiary.
<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,
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<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.
<br /> Trustor shall not cause or permit any Hazardous Material (as defined below) to
<br /> be brought upon, kept, stored or used in, on, under, or about the Land by Trustor, its
<br /> agents, employees, contractors or invitees except for substances routinely used in
<br /> connection with the construction, rehabilitation, repair, and operation of residential rental
<br /> developments and in compliance with all applicable laws, and shall not cause any
<br /> release of Hazardous Materials into, onto, under or through the Land. If any Hazardous
<br /> Material is discharged, released, dumped, or spilled in, on, under, or about the Land and
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