CERTIFICATE.
BORROWER PROMPTLY WILL GIVE
NOTICE TO LENDER OF THE SURRENDER, TERMINATION, CANCELLATION, MODIFICATION,
AMENDMENT, SUBSTITUTION OR ASSIGNMENT OF THE OTHER PROJECT DOCUMENTS, WHETHER OR
NOT LENDER CONSENTED THERETO PURSUANT TO THE IMMEDIATELY PRECEDING SENTENCE.
3.3.10.
MAJOR TRADE CONTRACTS.
BORROWER WILL NOT, WITHOUT LENDER'S PRIOR
WRITTEN CONSENT, WHICH CONSENT SHALL NOT BE UNREASONABLY WITHHELD, ENTER INTO
ANY MAJOR TRADE CONTRACT EXCEPT THE MAJOR TRADE CONTRACTS EXISTING ON THE DATE
HEREOF OR SURRENDER, TERMINATE, CANCEL, MATERIALLY MODIFY OR MATERIALLY AMEND
ANY MAJOR TRADE CONTRACT.
LENDER SHALL PROMPTLY REVIEW ALL MAJOR TRADE
CONTRACTS SO SUBMITTED, AND GRANT OR DENY ITS CONSENT WITHIN TEN (10) BUSINESS
DAYS OF BORROWER'S REQUEST THEREFOR; PROVIDED THAT THE REQUEST IS ACCOMPANIED BY
A NOTICE, WHICH PROVIDES IN UPPER CASE BOLD-FACED TYPE:
"THIS IS A REQUEST FOR
AN APPROVAL WITH RESPECT TO A MAJOR TRADE CONTRACT.
IF LENDER FAILS TO RESPOND
WITHIN 10 BUSINESS DAYS OF THE EFFECTIVENESS OF THIS NOTICE, THE REQUESTED
ACTION WITH RESPECT TO THE MAJOR TRADE CONTRACT WILL BE DEEMED APPROVED", IF
LENDER DOES NOT RESPOND DURING SUCH TEN (10) BUSINESS DAY PERIOD, IT SHALL BE
DEEMED TO HAVE APPROVED SUCH MAJOR TRADE CONTRACTS.
BORROWER CERTIFIES THAT, ON
OR PRIOR TO THE DATE HEREOF, LENDER HAS BEEN PROVIDED WITH A TRUE, CORRECT AND
COMPLETE COPY OF EACH MAJOR TRADE CONTRACT.
IN CONNECTION WITH THE FOREGOING
CONSENT, BORROWER MAY FROM TIME TO TIME
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DELIVER TO LENDER AND CONSTRUCTION CONSULTANT A LIST OF THE NAMES OF PROSPECTIVE
MAJOR TRADE CONTRACTORS WITH WHOM BORROWER MAY CONTRACT FOR THE CONSTRUCTION OF
THE RENOVATION PROJECT IMPROVEMENTS.
BORROWER WILL DELIVER TO LENDER AN
EXECUTED COPY OF ANY TRADE CONTRACT WHICH BORROWER ENTERS INTO AND WILL PROMPTLY
GIVE NOTICE TO LENDER OF THE SURRENDER, TERMINATION, CANCELLATION, MODIFICATION,
AMENDMENT, SUBSTITUTION OR ASSIGNMENT OF ANY TRADE CONTRACT, WHETHER OR NOT
LENDER'S CONSENT TO SUCH ACTION IS REQUIRED PURSUANT TO THIS SECTION 3.3.10.
BORROWER SHALL DELIVER TO LENDER A COPY OF EACH SUBCONTRACT ENTERED INTO BY ANY
CONSTRUCTION MANAGER OR GENERAL CONTRACTOR WITHIN TEN (10) DAYS AFTER SUCH
SUBCONTRACT IS ENTERED INTO (TO THE EXTENT THAT BORROWER IS AWARE OF SUCH
SUBCONTRACT AND A COPY THEREOF IS MADE AVAILABLE TO BORROWER).
3.3.11.
FINAL SURVEY.
BORROWER WILL DELIVER TO LENDER WITHIN SIXTY (60)
DAYS AFTER SUBSTANTIAL COMPLETION OF THE PROJECT HAS OCCURRED, AN UPDATED
"AS-BUILT" SURVEY FOR THE PROPERTY, DATED NO EARLIER THAN THE DATE ON WHICH
SUBSTANTIAL COMPLETION OCCURS WITH A CERTIFICATION THAT THERE ARE NO MATERIAL
ENCROACHMENTS BY THE PROJECT ON LAND OTHER THAN THE PROPERTY.
3.3.12.
CONSTRUCTION PERMIT. PROMPTLY AFTER OBTAINING ANY MATERIAL
CONSTRUCTION PERMIT FOR THE CONSTRUCTION OF THE PROJECT OR ANY PART THEREOF,
BORROWER SHALL DELIVER A COPY THEREOF TO LENDER.
3.3.13.
CERTIFICATE OF OCCUPANCY.
UPON SUBSTANTIAL COMPLETION OF THE
PROJECT, BORROWER SHALL OBTAIN AN UNCONDITIONAL PERMANENT (OR TEMPORARY)
CERTIFICATE OF OCCUPANCY WITH RESPECT TO THE PROPERTY AND SHALL KEEP SUCH
CERTIFICATE OF OCCUPANCY IN EFFECT AT ALL TIMES THEREAFTER.
TO THE EXTENT
BORROWER OBTAINS A TEMPORARY CERTIFICATE OF OCCUPANCY, BORROWER SHALL DILIGENTLY
PURSUE AND USE ALL COMMERCIALLY