OF THE
PROPERTY, WITH FREE ACCESS TO INSPECT OR EXAMINE OR, TO THE EXTENT NOT LOCATED
ON THE PROPERTY, TO OTHERWISE MAKE AVAILABLE TO LENDER AND CONSTRUCTION
CONSULTANT THE FOLLOWING:
(I)
ALL MATERIALS AND SHOP DRAWINGS PERTAINING TO THE CONSTRUCTION OF
THE PROJECT;
(II)
ANY CONTRACTS, BILLS OF SALE, STATEMENTS, RECEIPTS OR VOUCHERS
PERTAINING TO THE CONSTRUCTION OF THE PROJECT;
(III)
ALL WORK DONE, LABOR PERFORMED OR MATERIALS FURNISHED IN AND
ABOUT THE PROJECT, INCLUDING, WITHOUT LIMITATION, IN CONNECTION WITH THE
CONSTRUCTION OF THE PROJECT;
(IV)
ALL BOOKS, CONTRACTS AND RECORDS OF BORROWER OR ITS AFFILIATES
PERTAINING TO THE CONSTRUCTION OF THE PROJECT; AND
(V)
ANY OTHER DOCUMENTS IN THE POSSESSION OR CONTROL OF BORROWER OR
ITS AFFILIATES WHICH ARE RELATED TO THE CONSTRUCTION OF THE PROJECT.
(B)
BORROWER PROMPTLY WILL PROVIDE LENDER OR CONSTRUCTION CONSULTANT
WITH COPIES OF ANY OF THE FOREGOING AS LENDER OR CONSTRUCTION CONSULTANT, AS THE
CASE MAY BE, MAY FROM TIME TO TIME REASONABLY REQUEST.
BORROWER WILL MAKE ITS
REPRESENTATIVES AVAILABLE TO DISCUSS BORROWER'S AFFAIRS, FINANCES AND ACCOUNTS
RELATING TO THE CONSTRUCTION OF THE RENOVATION PROJECT, AND BORROWER WILL
REASONABLY COOPERATE, AND TAKE ALL REASONABLE STEPS TO CAUSE ANY DEVELOPER, ANY
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CONSTRUCTION MANAGER, ANY ARCHITECT, ANY ENGINEER, ANY GENERAL CONTRACTOR, IF
ANY, AND ANY MAJOR TRADE CONTRACTORS TO COOPERATE WITH LENDER AND CONSTRUCTION
CONSULTANT, OR ANY OF THEIR DESIGNATED REPRESENTATIVES, TO ENABLE SUCH PERSON TO
PERFORM ITS FUNCTIONS UNDER THIS AGREEMENT.
3.3.5.
CORRECTION OF WORK.
BORROWER WILL, PROMPTLY AFTER NOTICE FROM
LENDER, CORRECT ANY DEFECT IN THE PROJECT OR ANY MATERIAL DEPARTURE FROM THE
PLANS AND SPECIFICATIONS THEREOF.
BORROWER AGREES THAT THE MAKING OF ANY
ADVANCE SHALL NOT CONSTITUTE A WAIVER OF LENDER'S RIGHT TO REQUIRE COMPLIANCE
WITH THIS SECTION 3.3.5 WITH RESPECT TO ANY SUCH DEFECTS OR DEPARTURES FROM THE
PLANS AND SPECIFICATIONS.
BORROWER AGREES THAT LENDER'S FAILURE TO DELIVER SUCH
A NOTICE SHALL NOT CONSTITUTE A WAIVER BY LENDER OF ANY OF THE OBLIGATIONS OF
BORROWER HEREUNDER.
3.3.6.
REQUIRED NOTICES.
(A)
BORROWER SHALL GIVE NOTICE TO LENDER PROMPTLY UPON THE OCCURRENCE
OF:
(I)
ANY CESSATION OF CONSTRUCTION OF THE PROJECT (AFTER IT HAS
COMMENCED) FOR A PERIOD IN EXCESS OF FIFTEEN (15) CONSECUTIVE CALENDAR DAYS,
REGARDLESS OF WHETHER OR NOT SUCH CESSATION IS DUE TO AN EXCUSABLE DELAY;
(II)
BORROWER OBTAINING KNOWLEDGE OF ANY MATERIAL ACTUAL OR THREATENED
LITIGATION, INVESTIGATION OR LEGAL PROCEEDING (INCLUDING WITHOUT LIMITATION, A
MOTION WHERE INJUNCTIVE OR SIMILAR RELIEF IS SOUGHT) AFFECTING THE PROJECT;
(III)
ANY ACTUAL OR THREATENED LITIGATION OR ACTION OF A GOVERNMENTAL
AUTHORITY OF WHICH BORROWER HAS KNOWLEDGE CONCERNING THE ACTUAL OR ALLEGED
PRESENCE, RELEASE, THREAT OF RELEASE, PLACEMENT ON OR IN, OR THE GENERATION,
TRANSPORTATION, STORAGE, TREATMENT OR DISPOSAL AT, THE PROPERTY OF ANY HAZARDOUS
SUBSTANCE IN VIOLATION OF ENVIRONMENTAL LAW;
(IV)
ANY NOTICE GIVEN PURSUANT TO ANY PROJECT DOCUMENT ALLEGING THAT
THERE HAS OCCURRED A DEFAULT OR OTHER FAILURE BY BORROWER IN THE FULFILLMENT OF
BORROWER'S OBLIGATIONS THEREUNDER BEYOND ANY APPLICABLE GRACE, CURE OR NOTICE
PERIODS (IF ANY); AND
(V)
ANY CONDITION