LOAN DOCUMENT.
IF
LENDER PURCHASES INSURANCE FOR THE PROPERTY AND/OR THE IMPROVEMENTS, BORROWER
WILL BE RESPONSIBLE FOR THE COSTS OF THE INSURANCE, INCLUDING THE INSURANCE
PREMIUMS, INTEREST THEREON FROM THE DATE OF EACH SUCH PAYMENT OR EXPENDITURE AT
THE THEN APPLICABLE RATE UNDER THE CONSTRUCTION/TERM LOAN NOTE AND ANY OTHER
CHARGES LENDER MAY IMPOSE IN CONNECTION WITH THE PLACEMENT OF THE INSURANCE,
UNTIL THE EFFECTIVE DATE OF THE CANCELLATION OR EXPIRATION OF THE INSURANCE.
ALL SUMS SO PAID OR EXPENDED BY LENDER, THE INTEREST THEREON AND THE OTHER
CHARGES IN CONNECTION THEREWITH SHALL BE ADDED TO THE LOAN AND SHALL BE SECURED
BY THE LIEN OF THE LEASEHOLD MORTGAGE.
THE COSTS OF THE INSURANCE OBTAINED BY
LENDER MAY BE MORE THAN THE COST OF INSURANCE BORROWER MAY BE ABLE TO OBTAIN ON
ITS OWN.
UNLESS LENDER OTHERWISE AGREES IN WRITING, BORROWER SHALL PAY TO
LENDER THE FULL COSTS OF SUCH INSURANCE, TOGETHER WITH THE ACCRUED INTEREST
THEREON AND THE OTHER CHARGES IN CONNECTION THEREWITH, WITHIN THIRTY (30) DAYS
AFTER "NOTICE OF PLACEMENT OF INSURANCE" AS REQUIRED BY MO. REV. STAT. 427.125.
(G)
IN ADDITION TO THE INSURANCE REQUIREMENTS
UNDER (A) - (F) OF THIS SECTION 7.10, BORROWER SHALL MAINTAIN ALL INSURANCE
REQUIRED TO BE MAINTAINED PURSUANT TO THE TERMS OF THE GROUND LEASE.
7.11
GOVERNMENTAL REQUIREMENTS.
BORROWER WILL COMPLY WITH ALL
ENVIRONMENTAL LAWS AND ALL LAND USE, BUILDING, SUBDIVISION, ZONING, OSHA,
POLLUTION, SALES PRACTICES LAWS, REGULATIONS AND SIMILAR LAWS, RULES, ORDINANCES
AND REGULATIONS PROMULGATED BY ANY GOVERNMENTAL AUTHORITY AND APPLICABLE TO
BORROWER'S BUSINESS, THE PROPERTY, ITS DEVELOPMENT AND CONSTRUCTION OF
IMPROVEMENTS AND THE OPERATION THEREOF, EXCEPT WHERE THE FAILURE TO SO COMPLY
WOULD NOT REASONABLY BE EXPECTED TO HAVE A MATERIAL ADVERSE EFFECT ON BORROWER,
THE IMPROVEMENTS, OR THE BORROWER'S ABILITY TO PAY AND/OR PERFORM THE
OBLIGATIONS.
7.12
ADDITIONAL DOCUMENTS AND INFORMATION.
(a)
Reporting Requirements.
Borrower shall
furnish the following to Lender:
(I)
QUARTERLY FINANCIAL STATEMENTS.
AS SOON
AS AVAILABLE AND IN ANY EVENT WITHIN FORTY-FIVE (45) DAYS AFTER THE END OF EACH
FISCAL QUARTER OF EACH FISCAL YEAR OF BORROWER, AN UNAUDITED AND INTERNALLY
PREPARED FINANCIAL STATEMENT CERTIFIED BY BORROWER'S CHIEF FINANCIAL OFFICER;
56
(II)
QUARTERLY COVENANT COMPLIANCE
CERTIFICATES.
COMMENCING WITH THE FISCAL QUARTER ENDING JUNE 30, 2009, AS SOON
AS AVAILABLE AND IN ANY EVENT WITHIN FORTY-FIVE (45) DAYS AFTER THE END OF EACH
QUARTER OF EACH FISCAL YEAR OF BORROWER, A CONSOLIDATED COMPLIANCE CERTIFICATE,
IN THE FORM ATTACHED HERETO AS EXHIBIT G, SETTING FORTH (A) DETAILED WRITTEN
CALCULATIONS FOR SUCH QUARTER OR AS OF THE LAST DAY OF SUCH QUARTER, AS
APPROPRIATE, COMPUTING BORROWER'S COMPLIANCE (OR FAILURE OF COMPLIANCE) WITH
EACH OF THE FINANCIAL COVENANTS SET FORTH IN SECTION 7.33 BELOW, (B) A
RESTATEMENT BY REFERENCE OF EACH OF THE REPRESENTATIONS AND WARRANTIES CONTAINED
IN SECTION 4 HEREOF (OR PROVIDING DETAILED INFORMATION WHY ANY SUCH
REPRESENTATION OR WARRANTY CANNOT BE RESTATED), AND (C) A CERTIFICATION THAT NO
DEFAULT OR EVENT OF DEFAULT EXISTS AS OF THE DATE OF SUCH CERTIFICATE, OR IF ANY
DEFAULT OR EVENT