SECURITY; OR (G) CONSTITUTE A WAIVER OF THE RIGHT OF LENDER TO
ENFORCE THE LIABILITY AND OBLIGATION OF BORROWER, BY MONEY JUDGMENT OR
OTHERWISE, TO THE EXTENT OF ANY LOSS, DAMAGE (EXCLUDING CONSEQUENTIAL DAMAGES),
COST, EXPENSE, LIABILITY, CLAIM OR OTHER OBLIGATION INCURRED BY LENDER
(INCLUDING ATTORNEYS' FEES AND COSTS REASONABLY INCURRED) ARISING OUT OF OR IN
CONNECTION WITH THE FOLLOWING:
(A)
FRAUD OR INTENTIONAL MATERIAL MISREPRESENTATION BY BORROWER OR ANY
GUARANTOR IN CONNECTION WITH THE LOAN;
(B)
ACTUAL PHYSICAL WASTE OR DAMAGE TO THE PROPERTY RESULTING FROM THE
WILLFUL MISCONDUCT OF BORROWER;
(C)
THE BREACH OF ANY REPRESENTATION, WARRANTY, COVENANT OR
INDEMNIFICATION PROVISION IN THE ENVIRONMENTAL INDEMNITY OR IN THE MORTGAGE
CONCERNING ENVIRONMENTAL LAWS, HAZARDOUS SUBSTANCES AND ASBESTOS AND ANY
INDEMNIFICATION OF LENDER WITH RESPECT THERETO IN EITHER DOCUMENT;
92
(D)
THE REMOVAL OR DISPOSAL OF ANY PORTION OF THE PROPERTY AFTER AN
EVENT OF DEFAULT;
(E)
THE MISAPPLICATION OR CONVERSION BY BORROWER OF (A) ANY INSURANCE
PROCEEDS PAID BY REASON OF ANY LOSS, DAMAGE OR DESTRUCTION TO THE PROPERTY, (B)
ANY AWARDS OR OTHER AMOUNTS RECEIVED IN CONNECTION WITH THE CONDEMNATION OF ALL
OR A PORTION OF THE PROPERTY, OR (C) ANY RENTS DURING THE EXISTENCE OF AN EVENT
OF DEFAULT, IN EACH CASE TO THE EXTENT OF SUCH MISAPPLICATION OR CONVERSION;
(F)
IF THE PROPERTY GENERATES SUFFICIENT CASH FLOW FROM OPERATION
AFTER PAYMENT OF TAXES AND OTHER CHARGES, FAILURE TO PAY CHARGES FOR LABOR OR
MATERIALS OR OTHER CHARGES THAT CAN CREATE LIENS ON ANY PORTION OF THE PROPERTY
OTHER THAN THOSE BEING CONTESTED IN ACCORDANCE WITH THE TERMS OF THIS AGREEMENT;
(G)
IF THE PROPERTY GENERATES SUFFICIENT CASH FLOW FROM OPERATION TO
PAY FOR TAXES AND OTHER CHARGES, FAILURE TO PAY SUCH TAXES AND OTHER CHARGES
(SUBJECT TO THE BORROWER'S RIGHT TO CONTEST THE SAME IN ACCORDANCE WITH THE
TERMS SET FORTH IN THIS AGREEMENT);
(H)
THE MECHANICS' LIEN FILED BY WALSH CONSTRUCTION COMPANY OF
ILLINOIS AND THE LITIGATION RESULTING THEREFROM;
(I)
ANY SECURITY DEPOSITS, ADVANCE DEPOSITS OR ANY OTHER DEPOSITS
COLLECTED WITH RESPECT TO THE PROPERTY WHICH ARE NOT DELIVERED TO LENDER UPON A
FORECLOSURE OF THE PROPERTY OR ACTION IN LIEU THEREOF, EXCEPT TO THE EXTENT ANY
SUCH DEPOSITS WERE APPLIED IN ACCORDANCE WITH THE TERMS AND CONDITIONS OF ANY OF
THE LEASES PRIOR TO THE OCCURRENCE OF THE EVENT OF DEFAULT THAT GAVE RISE TO
SUCH FORECLOSURE OR ACTION IN LIEU THEREOF;
(J)
BORROWER'S INDEMNIFICATION OF LENDER SET FORTH IN SECTION 9.2
HEREOF;
(K)
THE BORROWER FILING A VOLUNTARY PETITION UNDER THE BANKRUPTCY CODE
OR ANY OTHER FEDERAL OR STATE BANKRUPTCY OR INSOLVENCY LAW;
(L)
AN AFFILIATE, OFFICER, DIRECTOR, OR REPRESENTATIVE WHICH
CONTROLS, DIRECTLY OR INDIRECTLY, BORROWER FILING, OR JOINING IN THE FILING OF,
AN INVOLUNTARY PETITION AGAINST BORROWER UNDER THE BANKRUPTCY CODE OR ANY OTHER
FEDERAL OR STATE BANKRUPTCY OR INSOLVENCY LAW, OR THE SOLICITING, OR CAUSING TO
BE SOLICITED, PETITIONING CREDITORS FOR ANY INVOLUNTARY PETITION AGAINST
BORROWER FROM ANY PERSON;
(M)
BORROWER FILING AN ANSWER CONSENTING TO OR OTHERWISE ACQUIESCING IN