ACCOUNTS (OR SUCH OTHER ACCOUNTING
BASIS REASONABLY ACCEPTABLE TO LENDER) CONSISTENTLY APPLIED, AND (II) WHETHER
THERE EXISTS AN EVENT OR CIRCUMSTANCE WHICH CONSTITUTES, OR WHICH UPON NOTICE OR
LAPSE OF TIME OR BOTH WOULD CONSTITUTE, A DEFAULT UNDER THE NOTE OR ANY OTHER
LOAN DOCUMENT EXECUTED AND DELIVERED BY BORROWER, AND IF SUCH EVENT OR
CIRCUMSTANCE EXISTS, THE NATURE THEREOF, THE PERIOD OF TIME IT HAS EXISTED AND
THE ACTION THEN BEING TAKEN TO REMEDY SUCH EVENT OR CIRCUMSTANCE.
BORROWER
SHALL AT ALL TIMES, WHETHER OR NOT THE MORTGAGE LOAN IS OUTSTANDING, DELIVER OR
SHALL CAUSE OWNER TO DELIVER TO LENDER (X) A COPY OF ALL FINANCIAL STATEMENTS,
REPORTS, BOOKS, RECORDS AND ACCOUNTS REQUIRED TO BE DELIVERED TO MORTGAGE LENDER
PURSUANT TO THE TERMS OF THE MORTGAGE LOAN DOCUMENTS WITHIN THE TIME FRAMES SET
FORTH IN THE MORTGAGE LOAN DOCUMENTS FOR THE DELIVERY OF SUCH FINANCIAL
STATEMENTS, REPORTS, BOOKS, RECORDS AND ACCOUNTS (AND, WITH EACH MONTHLY
STATEMENT OF REVENUES AND EXPENSES DELIVERED OR REQUIRED TO BE
17
DELIVERED UNDER THE MORTGAGE LOAN DOCUMENTS, A COMPARISON OF SUCH REVENUES AND
EXPENSES TO THE ANNUAL BUDGET) AND (Y) ANNUALLY, WITHIN THIRTY (30) DAYS
FOLLOWING THE END OF EACH CALENDAR YEAR, AND WITHIN THIRTY (30) DAYS AFTER
LENDER'S REQUEST THEREFOR, A TRUE, COMPLETE AND CORRECT RENT ROLL FOR THE
PREMISES, INCLUDING A LIST OF WHICH TENANTS ARE IN DEFAULT UNDER THEIR
RESPECTIVE LEASES, DATED AS OF THE END OF THE PRECEDING MONTH, IDENTIFYING EACH
TENANT, THE MONTHLY RENT AND ADDITIONAL RENT, IF ANY, PAYABLE BY SUCH TENANT,
THE EXPIRATION DATE OF SUCH TENANT'S LEASE, THE SECURITY DEPOSIT, IF ANY, HELD
BY OWNER UNDER THE LEASE, THE SPACE COVERED BY THE LEASE, EACH TENANT THAT HAS
FILED A BANKRUPTCY, INSOLVENCY, OR REORGANIZATION PROCEEDING SINCE DELIVERY OF
THE LAST SUCH RENT ROLL, AND THE ARREARAGES FOR SUCH TENANT, IF ANY, AND SUCH
RENT ROLL SHALL BE ACCOMPANIED BY AN OFFICER'S CERTIFICATE, DATED AS OF THE DATE
OF THE DELIVERY OF SUCH RENT ROLL, CERTIFYING THAT SUCH RENT ROLL IS TRUE,
CORRECT AND COMPLETE IN ALL MATERIAL RESPECTS AS OF ITS DATE.
BORROWER SHALL
FURNISH TO LENDER, WITHIN THIRTY (30) DAYS AFTER LENDER'S REQUEST THEREFOR, SUCH
FURTHER DETAILED INFORMATION WITH RESPECT TO THE OPERATION OF THE PREMISES AND
THE FINANCIAL AFFAIRS OF BORROWER AS MAY BE REASONABLY REQUESTED BY LENDER.
BORROWER ACKNOWLEDGES THAT NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED
HEREIN OR IN THE NOTE, ALL EXTENSION FEES AND EXIT FEES WILL BE TREATED AS
ADDITIONAL INTEREST.
SECTION 2.07.
LITIGATION.
BORROWER WILL GIVE PROMPT WRITTEN NOTICE TO LENDER
OF ANY LITIGATION OR GOVERNMENTAL PROCEEDINGS PENDING OR THREATENED (IN WRITING)
AGAINST BORROWER, OWNER OR GUARANTOR WHICH ARE REASONABLY LIKELY TO HAVE A
MATERIAL ADVERSE EFFECT AND OF ANY CLAIM, OPTION, LIEN OR ENCUMBRANCE UPON OR
AGAINST ALL OR A PORTION OF THE COLLATERAL.
SECTION 2.08.
ESTOPPEL CERTIFICATES.
BORROWER SHALL, OR SHALL CAUSE OWNER TO,
FROM TIME TO TIME, REQUEST FROM MORTGAGE LENDER SUCH CERTIFICATES OF ESTOPPEL
WITH RESPECT TO COMPLIANCE BY OWNER WITH THE TERMS OF THE