SHALL USE COMMERCIALLY REASONABLE
EFFORTS TO DELIVER TO LENDER WITHIN THIRTY (30) DAYS OF RECEIPT OF WRITTEN
REQUEST, TENANT ESTOPPEL CERTIFICATES FROM EACH COMMERCIAL TENANT LEASING SPACE
AT ANY OF THE PROPERTIES, IN FORM AND SUBSTANCE REASONABLY SATISFACTORY TO
LENDER; PROVIDED THAT, EXCEPT IN CONNECTION WITH A SECURITIZATION, BORROWERS
SHALL NOT BE REQUIRED TO DELIVER SUCH CERTIFICATES MORE FREQUENTLY THAN ONCE IN
ANY CALENDAR YEAR OR LESS FREQUENTLY IF, AND TO THE EXTENT, SO RESTRICTED BY THE
TERMS OF ANY LEASES ENTERED INTO PRIOR TO THE CLOSING DATE (OTHER THAN THE HRHI
LEASE).
5.1.16
LOAN PROCEEDS.
BORROWERS SHALL USE THE PROCEEDS OF THE
ACQUISITION LOAN RECEIVED BY THEM ON THE CLOSING DATE ONLY FOR THE PURPOSES SET
FORTH IN SECTION 2.1.2 HEREOF.
BORROWERS SHALL USE THE PROCEEDS OF THE
CONSTRUCTION LOAN RECEIVED BY THEM PURSUANT TO ANY CONSTRUCTION LOAN ADVANCES
ONLY FOR THE PURPOSES SET FORTH IN SECTION 2.1.3 HEREOF.
5.1.17
PERFORMANCE BY BORROWERS.
BORROWERS SHALL, IN A TIMELY
MANNER AND IN ALL MATERIAL RESPECTS, OBSERVE, PERFORM AND FULFILL EACH AND EVERY
COVENANT, TERM AND PROVISION OF EACH LOAN DOCUMENT EXECUTED AND DELIVERED BY, OR
APPLICABLE TO, ANY BORROWER, AND SHALL NOT ENTER INTO OR OTHERWISE SUFFER OR
PERMIT ANY AMENDMENT, WAIVER, SUPPLEMENT, TERMINATION OR OTHER MODIFICATION OF
ANY LOAN DOCUMENT EXECUTED AND DELIVERED BY, OR APPLICABLE TO, ANY BORROWER
WITHOUT THE PRIOR CONSENT OF LENDER.
5.1.18
CONFIRMATION OF REPRESENTATIONS.
BORROWERS SHALL DELIVER,
IN CONNECTION WITH ANY SECURITIZATION, (A) ONE OR MORE OFFICER'S CERTIFICATES
CERTIFYING AS TO THE ACCURACY OF ALL REPRESENTATIONS MADE BY BORROWERS IN THE
LOAN DOCUMENTS AS OF THE DATE OF THE CLOSING OF SUCH SECURITIZATION IN ALL
RELEVANT JURISDICTIONS (OR IF ANY SUCH REPRESENTATIONS ARE NO LONGER ACCURATE,
PROVIDING AN EXPLANATION AS TO THE REASON FOR SUCH INACCURACY), AND (B)
CERTIFICATES OF THE RELEVANT GOVERNMENTAL AUTHORITIES IN ALL RELEVANT
JURISDICTIONS INDICATING THE GOOD STANDING AND QUALIFICATION OF EACH BORROWER AS
OF THE DATE OF THE SECURITIZATION.
5.1.19
NO JOINT ASSESSMENT.
BORROWERS SHALL NOT SUFFER, PERMIT OR
INITIATE THE JOINT ASSESSMENT OF ANY PROPERTY (A) WITH ANY OTHER REAL PROPERTY
CONSTITUTING A TAX LOT SEPARATE FROM SUCH PROPERTY, AND (B) WHICH CONSTITUTES
REAL PROPERTY WITH ANY PORTION OF SUCH PROPERTY WHICH MAY BE DEEMED TO
CONSTITUTE PERSONAL PROPERTY, OR ANY OTHER PROCEDURE WHEREBY THE LIEN OF ANY
TAXES WHICH MAY BE LEVIED AGAINST SUCH PERSONAL PROPERTY SHALL BE ASSESSED OR
LEVIED OR CHARGED TO SUCH REAL PROPERTY PORTION OF THE PROPERTY.
5.1.20
LEASING MATTERS.
ANY MAJOR LEASES WITH RESPECT TO ANY
PROPERTY EXECUTED AFTER THE DATE HEREOF SHALL BE SUBJECT TO LENDER'S APPROVAL,
WHICH APPROVAL SHALL NOT BE UNREASONABLY WITHHELD, CONDITIONED OR DELAYED,
PROVIDED, HOWEVER, THAT RENEWALS OF ANY MAJOR LEASE BY BORROWERS INITIALLY
EXECUTED PRIOR TO THE CLOSING DATE SHALL NOT REQUIRE THE APPROVAL OF LENDER IF
THE TERMS OF ANY SUCH LEASE PROVIDED FOR RENEWALS AT A REASONABLY DETERMINABLE
RENT.
UPON REQUEST, BORROWERS SHALL FURNISH LENDER WITH EXECUTED COPIES OF ALL
LEASES.
ALL PROPOSED MAJOR LEASES SHALL BE ON COMMERCIALLY REASONABLE TERMS AND
NO LEASE