RELEASE THE OBLIGATION OF AGENT
OR ANY LENDER TO MAKE ANY ADDITIONAL ADVANCES, SUCH NOTICE SHALL BE INEFFECTIVE
AS TO ANY FUTURE ADVANCES MADE: (I) TO ENABLE COMPLETION OF IMPROVEMENTS ON THE
PROPERTY FOR WHICH THE LOAN SECURED HEREBY WAS ORIGINALLY MADE; (II) TO PAY
TAXES, ASSESSMENTS, MAINTENANCE CHARGES AND INSURANCE PREMIUMS; (III) FOR COSTS
INCURRED FOR PROTECTION OF THE PROPERTY OR THE LIEN OF THIS MORTGAGE; (IV)
EXPENSES INCURRED BY AGENT OR ANY LENDER BY REASON OF A DEFAULT OF MORTGAGOR
HEREUNDER OR UNDER THE LOAN DOCUMENTS; AND (V) ANY OTHER COSTS INCURRED BY AGENT
OR ANY LENDER TO PROTECT AND PRESERVE THE PROPERTY.
IT IS THE INTENTION OF THE
PARTIES HERETO THAT ANY SUCH ADVANCE MADE BY AGENT OR ANY LENDER AFTER ANY SUCH
NOTICE BY MORTGAGOR SHALL BE SECURED BY THE LIEN OF THIS MORTGAGE ON THE
PROPERTY.
15
31.
REPRESENTATIONS, WARRANTIES AND COVENANTS
REGARDING THE GROUND LEASE.
IN ADDITION TO MORTGAGOR'S REPRESENTATIONS,
WARRANTIES AND COVENANTS ELSEWHERE CONTAINED HEREIN, THE MORTGAGOR REPRESENTS,
WARRANTS, COVENANTS AND AGREES AS FOLLOWS:
A.
THE GROUND LEASE IS VALID, BINDING AND
WILL BE IN FULL FORCE AND EFFECT WITH RESPECT TO THE MORTGAGOR UNTIL
DECEMBER 31, 2010, UNLESS THE SAME IS RENEWED IN ACCORDANCE WITH ITS TERMS AND
CONDITIONS.
B.
THE MORTGAGOR WILL PROMPTLY PAY, WHEN
DUE AND PAYABLE, THE RENT AND ALL OTHER SUMS AND CHARGES MENTIONED IN AND MADE
PAYABLE BY MORTGAGOR, AS "LESSEE" UNDER THE GROUND LEASE.
C.
THE MORTGAGOR WILL PROMPTLY PERFORM AND
OBSERVE ALL OF THE TERMS, COVENANTS AND CONDITIONS REQUIRED TO BE PERFORMED AND
OBSERVED BY MORTGAGOR, AS "LESSEE" UNDER THE GROUND LEASE, WITHIN THE PERIODS
PROVIDED IN THE GROUND LEASE, AND WILL DO ALL THINGS NECESSARY TO PRESERVE AND
TO KEEP UNIMPAIRED ITS RIGHTS UNDER THE GROUND LEASE.
D.
THE MORTGAGOR SHALL (A) PROMPTLY NOTIFY
THE AGENT IN WRITING OF THE RECEIPT BY MORTGAGOR OF ANY NOTICE (OTHER THAN
NOTICES CUSTOMARILY SENT ON A REGULAR PERIODIC BASIS) FROM THE LESSOR UNDER THE
GROUND LEASE OF ANY DEFAULT IN THE PERFORMANCE OR OBSERVANCE OF ANY OF THE
TERMS, COVENANTS, OR CONDITIONS ON THE PART OF MORTGAGOR TO BE PERFORMED OR
OBSERVED UNDER THE GROUND LEASE; (B) PROMPTLY NOTIFY THE AGENT AND THE LENDERS
IN WRITING OF THE RECEIPT BY MORTGAGOR OF ANY NOTICE FROM THE LESSOR UNDER THE
GROUND LEASE OF ANY ATTEMPTED TERMINATION OF THE GROUND LEASE PURSUANT TO THE
PROVISIONS OF THE GROUND LEASE; AND (C) PROMPTLY CAUSE A COPY OF EACH SUCH
NOTICE RECEIVED BY MORTGAGOR FROM THE LESSOR UNDER THE GROUND LEASE TO BE
DELIVERED TO THE AGENT.
E.
THE MORTGAGOR WILL, WITHIN TWENTY (20)
DAYS AFTER WRITTEN DEMAND FROM THE AGENT, DELIVER TO THE AGENT AN ESTOPPEL
CERTIFICATE IN FORM AND SUBSTANCE SATISFACTORY TO THE AGENT.
F.
THE MORTGAGOR WILL FURNISH THE AGENT
UPON DEMAND, PROOF OF PAYMENT OF ALL ITEMS WHICH ARE REQUIRED TO BE PAID BY THE
MORTGAGOR PURSUANT TO THE GROUND LEASE.
G.
THE MORTGAGOR SHALL NOT CONSENT TO ANY
WAIVER OR MODIFICATION, AMENDMENT OR CANCELLATION OF