appear in any court
conducting any such case or proceeding during such 60-day period to preserve,
protect and defend its rights under the Loan Documents; or (v) take any
corporate, partnership, trust or other similar action authorizing or in
furtherance of any of the foregoing;
(G)
ATTACHMENT.
THERE IS AN ATTACHMENT,
EXECUTION OR OTHER JUDICIAL SEIZURE OF ANY PORTION OF BORROWER'S OR GUARANTOR'S
ASSETS AND SUCH SEIZURE IS NOT DISCHARGED WITHIN THIRTY (30) DAYS OF SUCH
ATTACHMENT, EXECUTION OR OTHER JUDICIAL SEIZURE, AS THE CASE MAY BE;
(H)
SUSPENSION OF BUSINESS; DEATH; DISSOLUTION.
BORROWER OR GUARANTOR SUSPENDS THE TRANSACTION OF BUSINESS, DISSOLVES,
TERMINATES ITS EXISTENCE, OR (IF A NATURAL PERSON) DIES;
(I)
MATERIAL ADVERSE CHANGE.
THERE IS A
MATERIAL ADVERSE CHANGE IN THE FINANCIAL POSITION OF GUARANTOR OR BORROWER;
(J)
BASIC AGREEMENTS.
THERE IS A DEFAULT BY
BORROWER UNDER ANY OF THE BASIC AGREEMENTS WHICH IS NOT CURED WITHIN ANY
APPLICABLE CURE PERIOD, OR ANY OF THE BASIC AGREEMENTS ARE TERMINATED OR AMENDED
WITHOUT OBTAINING THE APPROVAL OF LENDER, IF SUCH APPROVAL IS REQUIRED BY THE
LOAN DOCUMENTS;
(K)
DUE ON SALE; INSURANCE; CONDOMINIUM
DOCUMENTS.
BORROWER BREACHES OR DEFAULTS UNDER SECTIONS 7.4, 7.8, OR 8.6 OF
THIS AGREEMENT;
(L)
DESTRUCTION.
ANY MATERIAL PART OF THE
PROJECT IS DAMAGED OR DESTROYED BY FIRE OR OTHER CASUALTY, AND, IN THE
REASONABLE JUDGMENT OF LENDER, THE LOSS IS NOT ADEQUATELY COVERED BY INSURANCE
ACTUALLY COLLECTED OR IN THE PROCESS OF COLLECTION, AND BORROWER FAILS TO
DEPOSIT WITH LENDER THE DEFICIENCY (OR PROVIDE ACCEPTABLE SECURITY FOR THE
DEFICIENCY) WITHIN TEN (10) BUSINESS DAYS OF LENDER'S WRITTEN REQUEST FOR SUCH
DEPOSIT, OR IF LENDER AGREES TO DISBURSE INSURANCE PROCEEDS FOR BORROWER TO
REBUILD AND RESTORE PURSUANT TO ARTICLE IX AND, WITHIN TEN (10) DAYS AFTER THE
GIVING OF NOTICE THAT BORROWER IS FAILING TO SATISFY THE CONDITIONS FOR
DISBURSEMENT, BORROWER OTHERWISE CONTINUES TO FAIL TO SATISFY THE CONDITIONS FOR
REBUILDING OR RESTORING THE PROPERTY;
(M)
CONDEMNATION.
PROCEEDINGS ARE COMMENCED BY
ANY PUBLIC OR QUASI-PUBLIC BODY TO ACQUIRE THE PROPERTY, OR ANY PORTION OF THE
PROPERTY BY EMINENT DOMAIN, CONDEMNATION OR OTHER POWER, WHICH ACQUISITION WOULD
MATERIALLY JEOPARDIZE THE ECONOMIC VIABILITY OF THE PROJECT OR WOULD OTHERWISE
MATERIALLY IMPAIR LENDER'S SECURITY, AND SUCH PROCEEDINGS ARE NOT DISMISSED
WITHIN SIXTY (60) DAYS AND LENDER DETERMINES THAT THE ANTICIPATED AWARD TOGETHER
WITH ANY BORROWER EQUITY IS NOT SUFFICIENT TO SATISFY ALL OF THE SECURED
OBLIGATIONS;
39
(N)
LIEN.
ANY LIEN OR NOTICE OF LIEN OF ANY
KIND (WHETHER FOR THE PERFORMANCE OF WORK, THE SUPPLYING OF MATERIALS, A
JUDGMENT LIEN, A TAX LIEN, OR OTHERWISE) IS FILED OR SERVED AGAINST ANY PART OF
THE PROPERTY, AND BORROWER FAILS EITHER TO SATISFY OR CAUSE SUCH LIEN TO BE
RELEASED AS A LIEN AGAINST THE LAND OR BONDED OVER TO THE SATISFACTION OF LENDER
WITHIN THE EARLIER OF THE TIME NECESSARY TO STAY ENFORCEMENT OF THE LIEN OR
THIRTY (30) DAYS AFTER THE DATE OF FILING OR SERVING OF SUCH LIEN OR NOTICE OF
LIEN;
(O)
OTHER DEBT.
IF