PROPERTY MANAGEMENT, UNLESS PREVIOUSLY
APPROVED IN ADVANCE IN WRITING BY LENDER.
5.14
DEFECTS AND VARIANCES.
BORROWER WILL, UPON
DEMAND OF LENDER AND AT BORROWER'S SOLE EXPENSE, CORRECT ANY STRUCTURAL DEFECT
IN THE IMPROVEMENTS.
5.15
BROKERS.
EXCEPT FOR THOSE CLAIMS THAT ARE CAUSED
BY THE WILLFUL MISCONDUCT OR GROSS NEGLIGENCE OF LENDER, OR BY PERSONS UNDER
CONTRACT WITH LENDER, BORROWER WILL INDEMNIFY LENDER FROM CLAIMS OF BROKERS
ARISING BY REASON OF THE EXECUTION HEREOF OR THE CONSUMMATION OF THE
TRANSACTIONS CONTEMPLATED HEREBY.
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5.16
COMPLIANCE WITH GOVERNMENTAL REQUIREMENTS.
BORROWER WILL COMPLY PROMPTLY, IN ALL MATERIAL RESPECTS, WITH ALL GOVERNMENTAL
REQUIREMENTS.
5.17
COMPLIANCE WITH RESTRICTIVE COVENANTS.
BORROWER
WILL COMPLY WITH ALL TITLE REQUIREMENTS AND RESTRICTIVE COVENANTS, IF ANY,
AFFECTING THE MORTGAGED PROPERTY.
5.18
PAYMENT OF EXPENSES.
BORROWER WILL PROMPTLY
REIMBURSE LENDER FOR ALL EXPENSES OF LENDER, INCLUDING REASONABLE ATTORNEYS'
FEES INCURRED IN CONNECTION WITH THE PREPARATION, EXECUTION, DELIVERY,
ADMINISTRATION AND PERFORMANCE OF THE LOAN DOCUMENTS.
BORROWER SHALL PAY OR
REIMBURSE TO LENDER ALL COSTS AND EXPENSES RELATING TO THE MORTGAGED PROPERTY,
INCLUDING (WITHOUT LIMITATION), TITLE INSURANCE AND EXAMINATION CHARGES, SURVEY
COSTS, INSURANCE PREMIUMS, FILING AND RECORDING FEES, AND OTHER EXPENSES PAYABLE
TO THIRD PARTIES INCURRED BY LENDER IN CONNECTION WITH THE CONSUMMATION OF THE
TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT.
5.19
NOTICES RECEIVED.
BORROWER WILL PROMPTLY DELIVER
TO LENDER A TRUE AND CORRECT COPY OF ALL NOTICES RECEIVED BY BORROWER FROM ANY
PERSON OR ENTITY WITH RESPECT TO BORROWER, GUARANTOR, THE MORTGAGED PROPERTY, OR
ANY OR ALL OF THEM, WHICH IN ANY MATERIAL WAY RELATES TO OR AFFECTS THE LOAN OR
THE MORTGAGED PROPERTY, INCLUDING WITHOUT LIMITATION, ANY LEASE.
5.20
LEASES.
BORROWER WILL DELIVER TO LENDER, UPON
REQUEST OF LENDER, EXECUTED COUNTERPARTS OF ALL LEASES AND RENTAL AGREEMENTS
AFFECTING THE MORTGAGED PROPERTY.
5.21
APPROVAL TO LEASE REQUIRED.
BORROWER SHALL
UTILIZE THE APPROVED LEASE FORM IN LEASING ALL OR ANY PART OF THE MORTGAGED
PROPERTY, OR ANY PART THEREOF FOR A RENTAL SPACE IN EXCESS OF FIFTEEN THOUSAND
(15,000) SQUARE FEET.
IN THE EVENT THAT BORROWER ELECTS TO UTILIZE A FORM OF
LEASE THAT IS DIFFERENT FROM THE APPROVED LEASE FORM, BORROWER WILL OBTAIN THE
PRIOR WRITTEN CONSENT OF LENDER AS TO SUCH NEW FORM OF TENANT LEASE TO BE
UTILIZED IN LEASING THE MORTGAGED PROPERTY, OR ANY PART THEREOF, PRIOR TO
ENTERING INTO, ON SUCH NEW FORM, ANY LEASE OF ALL OR ANY PART OF THE MORTGAGED
PROPERTY.
5.22
STATEMENTS AND REPORTS.
BORROWER AGREES TO
MAINTAIN FULL AND ACCURATE BOOKS OF ACCOUNT AND OTHER RECORDS REFLECTING THE
RESULTS OF THE OPERATIONS OF THE MORTGAGED PROPERTY AND SHALL DELIVER TO LENDER,
DURING THE TERM OF THE LOAN AND UNTIL THE LOAN HAS BEEN FULLY PAID AND
SATISFIED, THE FOLLOWING STATEMENTS AND REPORTS:
(A)
ANNUAL FINANCIAL STATEMENTS, BALANCE SHEETS
AND INCOME STATEMENTS OF BORROWER AND EACH GUARANTOR, WITHIN ONE HUNDRED TWENTY
(120) DAYS AFTER THE END OF EACH CALENDAR YEAR, PREPARED IN ACCORDANCE WITH
GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, CONSISTENTLY APPLIED, WHICH ARE
ACCEPTABLE TO LENDER, AND CERTIFIED TO BY THE CHIEF FINANCIAL OFFICER OF