THE LOAN AGREEMENT, THE NOTE, THIS MORTGAGE AND THE
OTHER LOAN DOCUMENTS SHALL BE CONSTRUED SO AS TO DEEM THE RELATIONSHIP BETWEEN
BORROWER AND LENDER TO BE OTHER THAN THAT OF DEBTOR AND CREDITOR.
4.2
NO RELIANCE ON LENDER.
THE GENERAL
PARTNERS, MEMBERS, PRINCIPALS AND (IF BORROWER IS A TRUST) BENEFICIAL OWNERS OF
BORROWER ARE EXPERIENCED IN THE OWNERSHIP AND OPERATION OF PROPERTIES SIMILAR TO
THE PROPERTY, AND BORROWER AND LENDER ARE RELYING SOLELY UPON SUCH EXPERTISE AND
BUSINESS PLAN IN CONNECTION WITH THE OWNERSHIP AND OPERATION OF THE PROPERTY.
BORROWER IS NOT RELYING ON LENDER'S EXPERTISE, BUSINESS ACUMEN OR ADVICE IN
CONNECTION WITH THE PROPERTY.
10
4.3
NO LENDER OBLIGATIONS.
(A) NOTWITHSTANDING
THE PROVISIONS OF SUBSECTIONS 1.1(H) AND (N) OR SECTION 1.2, LENDER IS NOT
UNDERTAKING THE PERFORMANCE OF (I) ANY OBLIGATIONS UNDER THE LEASES; OR (II) ANY
OBLIGATIONS WITH RESPECT TO SUCH AGREEMENTS, CONTRACTS, CERTIFICATES,
INSTRUMENTS, FRANCHISES, PERMITS, TRADEMARKS, LICENSES AND OTHER DOCUMENTS.
(B)
BY ACCEPTING OR APPROVING ANYTHING REQUIRED
TO BE OBSERVED, PERFORMED OR FULFILLED OR TO BE GIVEN TO LENDER PURSUANT TO THIS
MORTGAGE, THE LOAN AGREEMENT, THE NOTE OR THE OTHER LOAN DOCUMENTS, INCLUDING,
WITHOUT LIMITATION, ANY OFFICER'S CERTIFICATE, BALANCE SHEET, STATEMENT OF
PROFIT AND LOSS OR OTHER FINANCIAL STATEMENT, SURVEY, APPRAISAL, OR INSURANCE
POLICY, LENDER SHALL NOT BE DEEMED TO HAVE WARRANTED, CONSENTED TO, OR AFFIRMED
THE SUFFICIENCY, THE LEGALITY OR EFFECTIVENESS OF SAME, AND SUCH ACCEPTANCE OR
APPROVAL THEREOF SHALL NOT CONSTITUTE ANY WARRANTY OR AFFIRMATION WITH RESPECT
THERETO BY LENDER.
4.4
RELIANCE.
BORROWER RECOGNIZES AND
ACKNOWLEDGES THAT IN ACCEPTING THE LOAN AGREEMENT, THE NOTE, THIS MORTGAGE AND
THE OTHER LOAN DOCUMENTS, LENDER IS EXPRESSLY AND PRIMARILY RELYING ON THE TRUTH
AND ACCURACY OF THE WARRANTIES AND REPRESENTATIONS SET FORTH IN SECTION 4.1 OF
THE LOAN AGREEMENT WITHOUT ANY OBLIGATION TO INVESTIGATE THE PROPERTY AND
NOTWITHSTANDING ANY INVESTIGATION OF THE PROPERTY BY LENDER; THAT SUCH RELIANCE
EXISTED ON THE PART OF LENDER PRIOR TO THE DATE HEREOF, THAT THE WARRANTIES AND
REPRESENTATIONS ARE A MATERIAL INDUCEMENT TO LENDER IN MAKING THE LOAN; AND THAT
LENDER WOULD NOT BE WILLING TO MAKE THE LOAN AND ACCEPT THIS MORTGAGE IN THE
ABSENCE OF THE WARRANTIES AND REPRESENTATIONS AS SET FORTH IN SECTION 4.1 OF THE
LOAN AGREEMENT.
ARTICLE V
FURTHER ASSURANCES
5.1
RECORDING OF MORTGAGE, ETC.
BORROWER
FORTHWITH UPON THE EXECUTION AND DELIVERY OF THIS MORTGAGE AND THEREAFTER, FROM
TIME TO TIME, WILL CAUSE THIS MORTGAGE AND ANY OF THE OTHER LOAN DOCUMENTS
CREATING A LIEN OR SECURITY INTEREST OR EVIDENCING THE LIEN HEREOF UPON THE
PROPERTY AND EACH INSTRUMENT OF FURTHER ASSURANCE TO BE FILED, REGISTERED OR
RECORDED IN SUCH MANNER AND IN SUCH PLACES AS MAY BE REQUIRED BY ANY PRESENT OR
FUTURE LAW IN ORDER TO PUBLISH NOTICE OF AND FULLY TO PROTECT AND PERFECT THE
LIEN OR SECURITY INTEREST HEREOF UPON, AND THE INTEREST OF LENDER IN, THE
PROPERTY.
BORROWER WILL PAY ALL TAXES, FILING, REGISTRATION OR RECORDING FEES,
AND ALL EXPENSES INCIDENT TO THE PREPARATION, EXECUTION, ACKNOWLEDGMENT AND/OR
RECORDING