SELLER'S MOISTURE MANAGEMENT PLAN HANDBOOK AND OTHER RELATED FILES OR LOGS
ASSOCIATED THEREWITH, AND THEREAFTER SHALL PROMPTLY UPON PURCHASER'S REQUEST AND
TO THE EXTENT IN SELLER'S POSSESSION OR REASONABLE CONTROL, DELIVER SUCH OTHER
REQUESTED ITEMS, AND SHALL THEREAFTER PROVIDE REASONABLE COOPERATION AND
ASSISTANCE IN FACILITATING THE LOAN ASSUMPTION.
ACCORDINGLY, PURCHASER, AT ITS
SOLE COST AND EXPENSE AND WITHIN 15 DAYS AFTER THE EFFECTIVE DATE (THE "LOAN
ASSUMPTION APPLICATION SUBMITTAL DEADLINE"), SHALL SUBMIT AN APPLICATION TO
LENDER REQUESTING AN ASSUMPTION OF THE LOAN (THE "LOAN ASSUMPTION APPLICATION"),
AND SHALL THEREAFTER PROSECUTE THE COMPLETION AND APPROVAL OF THE LOAN
ASSUMPTION APPLICATION (INCLUDING SUBMITTING ALL DOCUMENTS AND INFORMATION
REASONABLY REQUIRED BY THE LENDER TO EVALUATE THE LOAN ASSUMPTION APPLICATION)
WITH REASONABLE DUE DILIGENCE AND IN GOOD FAITH.
PURCHASER AGREES TO PROVIDE
SELLER WITH A COPY OF THE LOAN ASSUMPTION APPLICATION NO LATER THAN 2 BUSINESS
DAYS AFTER SUBMISSION TO LENDER.
PURCHASER ACKNOWLEDGES AND AGREES THAT
PURCHASER IS SOLELY RESPONSIBLE FOR THE PREPARATION AND SUBMITTAL OF THE LOAN
ASSUMPTION APPLICATION, INCLUDING THE COLLECTION OF ALL MATERIALS, DOCUMENTS,
CERTIFICATES, FINANCIALS, SIGNATURES, AND OTHER ITEMS REQUIRED TO BE SUBMITTED
TO LENDER IN CONNECTION WITH THE LOAN ASSUMPTION APPLICATION; PROVIDED HOWEVER,
SELLER AGREES TO COOPERATE IN GOOD FAITH AND PROMPTLY COMPLY WITH ANY REASONABLE
REQUESTS MADE BY PURCHASER IN CONNECTION WITH PURCHASER'S EFFORTS TO PROPERLY
PREPARE AND SUBMIT THE LOAN ASSUMPTION APPLICATION AND TO EFFECTUATE AND OBTAIN
THE LOAN ASSUMPTION AND RELEASE.
4.5.4
PURCHASER SHALL COMPLY WITH LENDER'S REASONABLE ASSUMPTION
GUIDELINES IN CONNECTION WITH THE LOAN ASSUMPTION AND RELEASE AND, IF REQUIRED
BY LENDER, PURCHASER SHALL CAUSE SUCH OTHER ENTITY REASONABLY ACCEPTABLE TO
LENDER AND PURCHASER, TO EXECUTE AND DELIVER A CUSTOMARY "NON-RECOURSE
CARVE-OUT" GUARANTY AND CUSTOMARY ENVIRONMENTAL INDEMNITY IN FAVOR OF LENDER.
EXCEPT FOR THOSE ITEMS THAT ARE SELLER'S RESPONSIBILITY AS PROVIDED IN SECTION
4.5.3 ABOVE, PURCHASER SHALL BE RESPONSIBLE AT ITS SOLE COST AND EXPENSE FOR
CORRECTING AND RE-SUBMITTING ANY DEFICIENCIES NOTED BY LENDER IN CONNECTION WITH
THE LOAN ASSUMPTION APPLICATION PROMPTLY AFTER NOTIFICATION FROM LENDER OF SUCH
DEFICIENCY, PROVIDED, HOWEVER, THAT SOME SUBMITTALS OR REQUIREMENTS MAY BE
PROVIDED OR DELIVERED ON THE CLOSING DATE .
PURCHASER ALSO SHALL PROVIDE SELLER
WITH A COPY OF ANY CORRESPONDENCE FROM LENDER WITH RESPECT TO THE LOAN
ASSUMPTION APPLICATION NO LATER THAN 3 BUSINESS DAYS AFTER RECEIPT OF SUCH
CORRESPONDENCE FROM LENDER.
PURCHASER AND SELLER SHALL COORDINATE WITH THE
LENDER TO COMPLY WITH THE APPROPRIATE PROVISIONS OF BOTH THE ASSUMED LOAN
DOCUMENTS AND LENDER ASSUMPTION GUIDELINES IN ORDER TO ALLOW FOR THE LOAN
ASSUMPTION AND RELEASE.
4.5.5
PURCHASER SHALL PAY ALL FEES AND EXPENSES (INCLUDING, WITHOUT
LIMITATION, ALL SERVICING FEES AND CHARGES, TRANSFER FEES, ASSUMPTION FEES UP TO
1% OF THE AMOUNT OF THE LOAN, TITLE FEES, ENDORSEMENT FEES, AND OTHER FEES TO
RELEASE SELLER OF ALL LIABILITY UNDER THE LOAN) IMPOSED OR CHARGED BY THE LENDER
OR ITS COUNSEL (SUCH FEES AND EXPENSES COLLECTIVELY BEING REFERRED TO AS THE
"LENDER FEES"), IN CONNECTION WITH THE LOAN ASSUMPTION APPLICATION AND THE LOAN
ASSUMPTION AND RELEASE.
WITHIN TEN (10)