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OF connects certain verbs and adjectives to the word "of". 

           |        |      |
     I thought     of something
  They accused him of the crime
    I am proud     of     you

In most cases, "of" can not modify verbs: "*I ran of the
house". With a few verbs it can, however, such as "think" and
"accuse". In such cases, "OF+" is treated like a complement
connector, disjoined with other connectors like TO+ and
TH+. In some cases, like "accuse", the verb also requires a
direct object preceding the "of" phrase; such verbs carry "(O+
or B-) & {OF+}. In other cases, such as "think", no object is

"Of" phrases can also modify certain adjectives: "I'm proud of
you". Such adjectives have OF+ disjoined with their other
complement connectors.

"Of", of course, is also a regular preposition (although it
can only modify nouns, not verbs). To connect to its object in
sentences like those above, "of" can simply use the same J
link used in prepositional phrases. Thus "of" carries "J+ &
(OF- or Mp-)".

OF is also used with gerunds, in cases where the gerund is
being used with a determiner: "His chasing of the dog was
unfortunate".  See "S: Gerunds: The no complement / determiner

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