ENTITLED TO RECEIVE SUCH PORTION OF SUCH PROCEEDS AS
EQUALS THE VALUE OF THE IMPROVEMENTS.
(IX)
THE GROUND LEASE MAY BE ASSIGNED FROM TIME TO TIME WITHOUT THE
CONSENT OF GROUND LESSOR.
(X)
PROVIDED THAT NO MONETARY DEFAULT REMAINS UNCURED BEYOND ANY
APPLICABLE NOTICE AND GRACE PERIODS TO WHICH BORROWER AND LENDER ARE ENTITLED,
THE GROUND LEASE
49
MAY NOT BE TERMINATED BY GROUND LESSOR BY REASON OF ANY DEFAULT BY BORROWER
WHICH IS NOT SUSCEPTIBLE OF CURE BY LENDER.
(XI)
IF THE GROUND LEASE IS TERMINATED BY REASON OF A DEFAULT BY
BORROWER, LENDER OR ITS DESIGNEE IS ENTITLED UNDER THE GROUND LEASE TO ENTER
INTO A NEW LEASE (THE "NEW LEASE") WITH GROUND LESSOR FOR THE REMAINDER OF THE
TERM OF THE GROUND LEASE UPON THE SAME BASE RENT AND ADDITIONAL RENT AND OTHER
TERMS, COVENANTS, CONDITIONS AND AGREEMENTS AS ARE CONTAINED IN THE GROUND
LEASE.
SECTION 2.06.
REMOVAL OF LIEN.
(A) BORROWER SHALL, AT ITS EXPENSE, MAINTAIN
THIS SECURITY INSTRUMENT AS A FIRST LIEN ON THE PROPERTY AND SHALL KEEP THE
PROPERTY FREE AND CLEAR OF ALL LIENS AND ENCUMBRANCES OF ANY KIND AND NATURE
OTHER THAN THE PERMITTED ENCUMBRANCES.
BORROWER SHALL, WITHIN TEN (10) DAYS
FOLLOWING THE FILING THEREOF, PROMPTLY DISCHARGE OF RECORD, BY BOND OR
OTHERWISE, ANY SUCH LIENS AND, PROMPTLY UPON REQUEST BY LENDER, SHALL DELIVER TO
LENDER EVIDENCE REASONABLY SATISFACTORY TO LENDER OF THE DISCHARGE THEREOF.
(B)
WITHOUT LIMITATION TO THE PROVISIONS OF SECTION 2.06(A) HEREOF,
BORROWER SHALL (I) UNLESS BEING CONTESTED IN GOOD FAITH BY APPROPRIATE
PROCEEDINGS IN ACCORDANCE WITH SECTION 2.06(C) HEREOF, PAY, FROM TIME TO TIME
WHEN THE SAME SHALL BECOME DUE, ALL CLAIMS AND DEMANDS OF MECHANICS,
MATERIALMEN, LABORERS, AND OTHERS WHICH, IF UNPAID, MIGHT RESULT IN, OR PERMIT
THE CREATION OF, A LIEN ON THE PROPERTY OR ANY PART THEREOF, (II) CAUSE TO BE
REMOVED OF RECORD (BY PAYMENT OR POSTING OF BOND OR SETTLEMENT OR OTHERWISE) ANY
MECHANICS', MATERIALMENS', LABORERS' OR OTHER LIEN ON THE PROPERTY, OR ANY PART
THEREOF, OR ON THE REVENUES, RENTS, ISSUES, INCOME OR PROFIT ARISING THEREFROM,
AND (III) IN GENERAL, DO OR CAUSE TO BE DONE, WITHOUT EXPENSE TO LENDER,
EVERYTHING REASONABLY NECESSARY TO PRESERVE IN FULL THE LIEN OF THIS SECURITY
INSTRUMENT.
IF BORROWER FAILS TO COMPLY WITH THE REQUIREMENTS OF THIS SECTION
2.06(B), THEN, UPON FIVE (5) BUSINESS DAYS' PRIOR NOTICE TO BORROWER, LENDER
MAY, BUT SHALL NOT BE OBLIGATED TO, PAY ANY SUCH LIEN, AND BORROWER SHALL,
WITHIN FIVE (5) BUSINESS DAYS AFTER LENDER'S DEMAND THEREFOR, REIMBURSE LENDER
FOR ALL SUMS SO EXPENDED, TOGETHER WITH INTEREST THEREON AT THE DEFAULT RATE
FROM THE DATE ADVANCED, ALL OF WHICH SHALL BE DEEMED PART OF THE DEBT.
NOTHING
CONTAINED HEREIN SHALL BE DEEMED A CONSENT OR REQUEST OF LENDER, EXPRESS OR
IMPLIED, BY INFERENCE OR OTHERWISE, TO THE PERFORMANCE OF ANY ALTERATION, REPAIR
OR OTHER WORK BY ANY CONTRACTOR, SUBCONTRACTOR OR LABORER OR THE FURNISHING OF
ANY MATERIALS BY ANY MATERIALMEN IN CONNECTION THEREWITH.
(C)
NOTWITHSTANDING THE FOREGOING, BORROWER MAY