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07/27/2015 7.3.A. - Page 36 Certificates of insurance, and the written policies if requested by Beneficiary, for all of the above insurance policies, showing the same to be in full force and effect, shall be delivered to the Beneficiary upon demand at any time prior to the Expiration Date. Replacement or renewal policies shall be secured at least 30 days prior to the expiration of existing policies. Beneficiary shall not by reason of accepting, rejecting, approving or obtaining insurance incur any liability for the existence, nonexistence, form or legal sufficiency of such insurance or solvency of any insurer for payment of losses. D. In the event of a loss, the amount collected under any policy of insurance on said Property may, at the sole option of the Beneficiary, except to the extent expressly limited or prohibited by statutory or case law in effect as of the date of this Deed of Trust, and subject to the rights of any prior deed of trust: (i) be applied by Beneficiary upon any indebtedness and/or obligation secured hereby whether the same be then matured or unmatured, and in such order as Beneficiary may determine; (ii) be used to replace or to restore the Property improvements partially or totally destroyed to a condition satisfactory to said Beneficiary; (iii) be used by the Beneficiary to fulfill any of the covenants contained herein as the Beneficiary may determine; or (iv) be released to the Trustor. In any of the foregoing events neither the Trustee nor the Beneficiary shall be obligated to see to the proper application thereof, nor shall the amount so released or used under clauses (i), (ii), or (iii) above be deemed a payment on any indebtedness secured hereby. Such application, use and/or release shall not cure or waive any default or notice of default hereunder or invalidate any act done pursuant to such notice. Subject to the rights of the holder of any prior deed of trust, Trustor hereby grants to Beneficiary an irrevocable power of attorney and assigns to Beneficiary all of Trustor's right, title and interest in each such policy in the event of the foreclosure of this Deed of Trust or other transfer of the title to the Property in extinguishment, in whole or in part, of the debt secured hereby. No insurance shall be required hereunder in excess of that allowed by Civil Code Section 2955.5. If the Property is abandoned by Trustor, or if Trustor fails to respond to Beneficiary within thirty (30) days from the date notice is mailed by Beneficiary to Trustor that the insurance carrier offers to settle a claim for insurance benefits, Beneficiary is authorized to collect and apply the insurance proceeds at Beneficiary's option either to restoration or repair of the Property or to the sums secured by this Deed of Trust. Section 2.3. Advances In the event the Trustor shall fail to maintain the full insurance coverage required by this Deed of Trust or shall fail to keep the Property in good repair and operating condition, the Beneficiary OAK#4852-3988-7653 v1 ATTY/RES0.3085/CC RESO RWC FIRE SAFETY FIRST PILOT PROGRAM ATTACHMENT B-4 DEED OF TRUST REV:07-22-15 VR Page5of19 30 RESO.#15428 MUFF#705