LOAN DOCUMENTS (AND NO DELIVERY OF SUCH NOTICES OR OTHER
INSTRUMENTS BY BORROWER SHALL BE OF ANY FORCE OR EFFECT UNLESS DELIVERED TO
LENDER AND SERVICER AS PROVIDED ABOVE).
SECTION 11.25
JOINT AND SEVERAL LIABILITY. IF MORE THAN ONE
PERSON HAS EXECUTED THIS AGREEMENT AS "BORROWER," THE REPRESENTATIONS,
COVENANTS, WARRANTIES AND OBLIGATIONS OF ALL SUCH PERSONS HEREUNDER SHALL BE
JOINT AND SEVERAL.
SECTION 11.26
CREATION OF SECURITY INTEREST. NOTWITHSTANDING
ANY OTHER PROVISION SET FORTH IN THIS AGREEMENT, THE NOTE, THE MORTGAGE OR ANY
OF THE OTHER LOAN DOCUMENTS, LENDER MAY AT ANY TIME CREATE A SECURITY INTEREST
IN ALL OR ANY PORTION OF ITS RIGHTS UNDER THIS AGREEMENT, THE NOTE, THE MORTGAGE
AND ANY OTHER LOAN DOCUMENT (INCLUDING, WITHOUT LIMITATION, THE ADVANCES OWING
TO IT) IN FAVOR OF ANY FEDERAL RESERVE BANK IN ACCORDANCE WITH REGULATION A OF
THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM.
SECTION 11.27
ASSIGNMENTS AND PARTICIPATIONS.
(A)
THE LENDER MAY ASSIGN TO ONE OR MORE
PERSONS ALL OR A PORTION OF ITS RIGHTS AND OBLIGATIONS UNDER THIS LOAN
AGREEMENT.
(B)
UPON SUCH EXECUTION AND DELIVERY, FROM AND
AFTER THE EFFECTIVE DATE SPECIFIED IN SUCH ASSIGNMENT AND ACCEPTANCE, THE
ASSIGNEE THEREUNDER SHALL BE A PARTY HERETO AND HAVE THE RIGHTS AND OBLIGATIONS
OF LENDER HEREUNDER.
(C)
LENDER MAY SELL PARTICIPATIONS TO ONE OR
MORE PERSONS IN OR TO ALL OR A PORTION OF ITS RIGHTS AND OBLIGATIONS UNDER THIS
LOAN AGREEMENT; PROVIDED, HOWEVER, THAT (I) LENDER'S OBLIGATIONS UNDER THIS LOAN
AGREEMENT SHALL REMAIN UNCHANGED, (II) LENDER SHALL REMAIN SOLELY RESPONSIBLE TO
THE OTHER PARTIES HERETO FOR THE PERFORMANCE OF SUCH OBLIGATIONS, (III) LENDER
SHALL REMAIN THE HOLDER OF ANY NOTE FOR ALL PURPOSES OF THIS LOAN AGREEMENT AND
(IV) BORROWER SHALL CONTINUE TO DEAL SOLELY AND DIRECTLY WITH LENDER IN
CONNECTION WITH LENDER'S RIGHTS AND OBLIGATIONS UNDER AND IN RESPECT OF THIS
LOAN AGREEMENT AND THE OTHER LOAN DOCUMENTS.
(D)
LENDER MAY, IN CONNECTION WITH ANY
ASSIGNMENT OR PARTICIPATION OR PROPOSED ASSIGNMENT OR PARTICIPATION PURSUANT TO
THIS SECTION 11.27, DISCLOSE TO THE ASSIGNEE OR PARTICIPANT OR PROPOSED ASSIGNEE
OR PARTICIPANT, AS THE CASE MAY BE, ANY INFORMATION RELATING TO BORROWER OR ANY
OF ITS AFFILIATES OR TO ANY ASPECT OF THE LOAN THAT HAS BEEN FURNISHED TO THE
LENDER BY OR ON BEHALF OF BORROWER OR ANY OF ITS AFFILIATES.
SECTION 11.28
SECURITY INTEREST IN PARKING LEASE. IF AND TO
THE EXTENT PERMITTED UNDER THE PARKING LEASE, BORROWER HEREBY GRANTS TO LENDER,
TO SECURE ITS OBLIGATIONS UNDER THE LOAN DOCUMENTS, A SECURITY INTEREST IN THE
PARKING LEASE. IN THE EVENT THAT IT IS DETERMINED THAT THE FOREGOING GRANT OF
SECURITY INTEREST IS NOT PERMITTED BY THE PARKING LEASE, THEN THE FOREGOING
GRANT SHALL BE NULL AND VOID AB INITIO AND OF NO FORCE OR EFFECT WHATSOEVER, ALL
AS IF THE SAME WAS NEVER GRANTED. THE REPRESENTATIONS AND WARRANTIES SET FORTH
IN SECTIONS 3.1.3 AND 3.1.7 HEREOF EXCLUDE THE PARKING LEASE.
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IN WITNESS WHEREOF, the parties hereto have