(60) DAYS NEXT FOLLOWING THE DATE OF FILING.
(F)
IF BORROWER, ANY CONSTITUENT PARTY, OR ANY GUARANTOR, SHALL DIE,
DISSOLVE, TERMINATE OR LIQUIDATE, OR BECOME PERMANENTLY DISABLED.
(G)
IF BORROWER CREATES, PLACES, OR PERMITS TO BE CREATED OR PLACED,
OR THROUGH ANY ACT OR FAILURE TO ACT, ACQUIESCES IN THE PLACING OF, OR ALLOWS TO
REMAIN, ANY SUBORDINATE MORTGAGE, REGARDLESS OF WHETHER SUCH SUBORDINATE
MORTGAGE IS EXPRESSLY SUBORDINATE TO THE LIENS OR SECURITY INTERESTS OF THE LOAN
DOCUMENTS, WITH RESPECT TO THE MORTGAGED PROPERTY, OTHER THAN THE PERMITTED
EXCEPTIONS AND ANY CONTESTED ITEM.
33
(H)
IF BORROWER MAKES A DISPOSITION (OTHER THAN A PERMITTED
DISPOSITION), WITHOUT THE PRIOR WRITTEN CONSENT OF LENDER.
(I)
IF BORROWER ABANDONS ALL OR ANY MATERIAL PORTION OF THE MORTGAGED
PROPERTY.
(J)
THE OCCURRENCE OF ANY EVENT REFERRED TO IN SECTIONS 7.1(E) AND
(F) HEREOF WITH RESPECT TO ANY GUARANTOR, (AS IF SUCH GUARANTOR WAS THE
"BORROWER" IN SUCH SECTIONS).
(K)
AN EVENT OF DEFAULT AS DEFINED IN ANY OF THE LOAN DOCUMENTS.
(L)
IF, EXCEPT WITH RESPECT TO ANY CONTESTED ITEM, ANY LEVY,
ATTACHMENT OR GARNISHMENT IS ISSUED, OR IF ANY LIEN FOR THE PERFORMANCE OF WORK
OR THE SUPPLY OF MATERIALS IS FILED, AGAINST ANY PART OF THE MORTGAGED PROPERTY
AND REMAINS UNSATISFIED OR UNBONDED FOLLOWING THE EARLIER OF (I) THIRTY (30)
DAYS AFTER THE DATE OF FILING THEREOF OR (II) THE REQUESTING BY BORROWER OF AN
ADVANCE.
(M)
IF BORROWER SHOULD FAIL TO TIMELY PAY ALL OR ANY PORTION OF THE
COMMITMENT FEE AT THE TIME SUCH AMOUNTS ARE OWING PURSUANT TO THIS AGREEMENT.
(N)
IF BORROWER SHALL FAIL TO PAY WHEN DUE ANY PRINCIPAL OF OR
INTEREST ON ANY DEBT OR THE MATURITY OF ANY SUCH DEBT SHALL HAVE BEEN
ACCELERATED, OR ANY SUCH DEBT SHALL HAVE BEEN REQUIRED TO BE PREPAID PRIOR TO
THE STATED MATURITY THEREOF.
(O)
IF BORROWER REFUSES OR NEGLECTS TO PROVIDE LENDER THE COMPLIANCE
CERTIFICATE IN ACCORDANCE WITH THE TERMS AND CONDITIONS OF THIS AGREEMENT.
7.2
REMEDIES.
LENDER SHALL HAVE THE RIGHT, UPON
THE HAPPENING AND DURING THE CONTINUANCE OF AN EVENT OF DEFAULT, IN ADDITION TO
ANY RIGHTS OR REMEDIES AVAILABLE TO IT UNDER ALL OTHER LOAN DOCUMENTS, TO ENTER
INTO POSSESSION OF THE MORTGAGED PROPERTY.
ALL AMOUNTS SO EXPENDED BY LENDER
SHALL BE DEEMED TO HAVE BEEN DISBURSED TO BORROWER AS LOAN PROCEEDS AND SECURED
BY THE LIEN INSTRUMENT.
FOR THIS PURPOSE, BORROWER HEREBY CONSTITUTES AND
APPOINTS (WHICH APPOINTMENT IS COUPLED WITH AN INTEREST AND IS THEREFORE
IRREVOCABLE) LENDER AS BORROWER'S TRUE AND LAWFUL ATTORNEY-IN-FACT, WITH FULL
POWER OF SUBSTITUTION TO MANAGE THE IMPROVEMENTS IN THE NAME OF BORROWER, AND
HEREBY EMPOWERS LENDER, ACTING AS BORROWER'S ATTORNEY-IN-FACT, AS FOLLOWS:
TO
USE ANY FUNDS OF BORROWER, INCLUDING ANY BALANCE WHICH MAY BE HELD IN ESCROW,
ANY BORROWER'S DEPOSIT AND ANY FUNDS WHICH MAY REMAIN UNADVANCED HEREUNDER; TO
CONTINUE ALL OR ANY EXISTING CONTRACTS; TO EMPLOY SUCH CONTRACTORS,
SUBCONTRACTORS, AGENTS, DESIGN PROFESSIONALS AND INSPECTORS AS SHALL BE
REQUIRED; TO PAY, SETTLE OR COMPROMISE ALL EXISTING BILLS