OBLIGATION OF
BORROWER CONTAINED IN ANY RENEWAL, EXTENSION, AMENDMENT, MODIFICATION,
CONSOLIDATION, CHANGE OF, OR SUBSTITUTION OR REPLACEMENT FOR, ALL OR ANY PART OF
THE NOTE, THE LOAN AGREEMENT OR ANY OTHER LOAN DOCUMENT.
7
2.3
DEBT AND OTHER OBLIGATIONS.
BORROWER'S
OBLIGATIONS FOR THE PAYMENT OF THE DEBT AND THE PERFORMANCE OF THE OTHER
OBLIGATIONS SHALL BE REFERRED TO COLLECTIVELY HEREIN AS THE "OBLIGATIONS."
ARTICLE III
BORROWER COVENANTS
Borrower covenants and agrees that:
3.1
PAYMENT OF DEBT.
BORROWER WILL PAY THE DEBT
AT THE TIME AND IN THE MANNER PROVIDED IN THE LOAN AGREEMENT, THE NOTE AND THIS
MORTGAGE.
3.2
INCORPORATION BY REFERENCE.
ALL THE
COVENANTS, CONDITIONS AND AGREEMENTS CONTAINED IN (A) THE LOAN AGREEMENT,
(B) THE NOTE AND (C) ALL AND ANY OF THE OTHER LOAN DOCUMENTS, ARE HEREBY MADE A
PART OF THIS MORTGAGE TO THE SAME EXTENT AND WITH THE SAME FORCE AS IF FULLY SET
FORTH HEREIN.
3.3
INSURANCE.
BORROWER SHALL OBTAIN AND
MAINTAIN, OR CAUSE TO BE MAINTAINED, IN FULL FORCE AND EFFECT AT ALL TIMES
INSURANCE WITH RESPECT TO BORROWER AND THE PROPERTY AS REQUIRED PURSUANT TO THE
LOAN AGREEMENT.
3.4
MAINTENANCE OF PROPERTY.
BORROWER SHALL
CAUSE THE PROPERTY TO BE MAINTAINED IN A GOOD AND SAFE CONDITION AND REPAIR.
THE IMPROVEMENTS, THE FIXTURES, THE EQUIPMENT AND THE PERSONAL PROPERTY SHALL
NOT BE REMOVED, DEMOLISHED OR MATERIALLY ALTERED EXCEPT AS PROVIDED FOR IN THE
LOAN AGREEMENT (EXCEPT FOR NORMAL REPLACEMENT OF THE FIXTURES, THE EQUIPMENT OR
THE PERSONAL PROPERTY, TENANT FINISH AND REFURBISHMENT OF THE IMPROVEMENTS)
WITHOUT THE CONSENT OF LENDER AS PROVIDED FOR IN THE LOAN AGREEMENT.
BORROWER
SHALL PROMPTLY REPAIR, REPLACE OR REBUILD ANY PART OF THE PROPERTY WHICH MAY BE
DESTROYED BY ANY CASUALTY, OR BECOME DAMAGED, WORN OR DILAPIDATED AND SHALL
COMPLETE AND PAY FOR ANY STRUCTURE AT ANY TIME IN THE PROCESS OF CONSTRUCTION OR
REPAIR ON THE LAND EXCEPT AS SET FORTH IN THE LOAN AGREEMENT.
3.5
WASTE.
BORROWER SHALL NOT COMMIT OR SUFFER
ANY WASTE OF THE PROPERTY OR MAKE ANY CHANGE IN THE USE OF THE PROPERTY WHICH
WILL IN ANY WAY MATERIALLY INCREASE THE RISK OF FIRE OR OTHER HAZARD ARISING OUT
OF THE OPERATION OF THE PROPERTY, OR TAKE ANY ACTION THAT MIGHT INVALIDATE OR
ALLOW THE CANCELLATION OF ANY POLICY, OR DO OR PERMIT TO BE DONE THEREON
ANYTHING THAT MAY IN ANY WAY MATERIALLY IMPAIR THE VALUE OF THE PROPERTY OR THE
SECURITY OF THIS MORTGAGE.
BORROWER WILL NOT, WITHOUT THE PRIOR WRITTEN CONSENT
OF LENDER, PERMIT ANY DRILLING OR EXPLORATION FOR OR EXTRACTION, REMOVAL, OR
PRODUCTION OF ANY MINERALS FROM THE SURFACE OR THE SUBSURFACE OF THE LAND,
REGARDLESS OF THE DEPTH THEREOF OR THE METHOD OF MINING OR EXTRACTION THEREOF.
3.6
PAYMENT FOR LABOR AND MATERIALS.
(A)
SUBJECT TO THE TERMS, PROVISIONS AND CONDITIONS OF THE LOAN AGREEMENT, BORROWER
WILL PROMPTLY PAY OR CAUSE TO BE PAID WHEN DUE ALL BILLS AND COSTS FOR LABOR,
MATERIALS, AND SPECIFICALLY FABRICATED MATERIALS ("LABOR AND MATERIAL COSTS")
INCURRED IN CONNECTION WITH THE PROPERTY