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improvement which may be constructed, damaged, or destroyed thereon, and shall pay when due
<br />all claims for labor performed and materials furnished therefor. Trustor shall use the Land and
<br />the Improvements solely for purposes authorized by the Loan Documents, shall not commit or
<br />allow waste of the Property, and shall not commit or allow any act upon or use of the Property
<br />which would violate any applicable law or order of any governmental authority, nor shall Trustor
<br />bring on or keep any article on the Property or cause or allow any condition to exist thereon
<br />which could invalidate or which would be prohibited by any insurance coverage required to be
<br />maintained on the Property pursuant to the Loan Documents.
<br />7.6 Restrictions on Conveyance and Encumbrance, Acceleration It shall be an Event
<br />of Default hereunder if the Property, any part thereof, or interest therein is sold, assigned,
<br />conveyed, transferred, hypothecated, leased, licensed, or encumbered in violation of the Loan
<br />Documents or if any other Transfer (as defined in the Loan Agreement) occurs in violation of the
<br />Loan Documents. If any such Transfer shall occur in violation of such requirements, without
<br />limiting the provisions of Section 8 hereof, all obligations secured by this Deed of Trust,
<br />irrespective of the maturity dates of such obligations, shall at the option of Beneficiary, and
<br />without demand, immediately become due and payable, subject to any applicable cure period.
<br />7.7 Inspections, Books and Records Beneficiary and its agents and representatives
<br />shall have the right at any reasonable time upon reasonable notice to enter upon the Land and
<br />inspect the Property to ensure compliance with the Loan Documents. Trustor shall maintain
<br />complete and accurate books of account and other records (including copies of supporting bills
<br />and invoices) adequate to document the use of the Loan Proceeds and the operation of the
<br />Property, 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 subject to
<br />examination and inspection by Beneficiary at any reasonable time following two business days
<br />prior notice.
<br />7.8 Charges, Liens, Taxes and Assessments Trustor shall pay before delinquency all
<br />taxes, levies, assessments and other charges affecting the Property that are (or if not paid may
<br />become) a lien on all or part of the Property. Trustor may, at Trustor's expense, contest the
<br />validity or application of any tax, levy, assessment or charge affecting the Property by
<br />appropriate legal proceedings promptly initiated and conducted in good faith and with due
<br />diligence, provided that (i) Beneficiary is reasonably satisfied that neither the Property nor any
<br />part thereof or interest therein will be in danger of being sold, forfeited, or lost as a result of such
<br />contest, and (ii) Trustor shall have posted a bond or furnished other security as may reasonably
<br />be required from time to time by Beneficiary; and provided further that Trustor shall timely
<br />make any 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 encumbrances,
<br />whether released of record or not, which are discharged in whole or in part by Beneficiary in
<br />accordance with this Deed of Trust.
<br />7.10 Hazard, Liability and Workers' Compensation Insurance At all times during the
<br />term hereof, at Trustor's expense, Trustor shall keep the Improvements and personal property
<br />now existing or hereafter located on the Property insured against loss by fire, vandalism and
<br />malicious mischief by a policy of standard fire and extended all -risk insurance. The policy shall
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