BORROWER OR GUARANTOR NOT PREVIOUSLY DESCRIBED IN THE
FINANCIAL REPORTS DELIVERED TO LENDER PURSUANT TO THIS SECTION 7.7; (VI) THE
INSTITUTION OF ANY STEPS BY BORROWER, ANY BORROWER PARTY, GUARANTOR OR ANY OTHER
PERSON TO TERMINATE ANY PENSION PLAN, OR THE FAILURE TO MAKE A REQUIRED
CONTRIBUTION TO ANY PENSION PLAN IF SUCH FAILURE IS SUFFICIENT TO GIVE RISE TO A
LIEN UNDER SECTION 302(F) OF ERISA, OR THE TAKING OF ANY ACTION WITH RESPECT TO
A PENSION PLAN WHICH COULD RESULT IN THE REQUIREMENT THAT BORROWER, ANY BORROWER
PARTY OR GUARANTOR FURNISH A BOND OR OTHER SECURITY TO THE PBGC OR SUCH PENSION
PLAN, OR THE OCCURRENCE OF ANY EVENT WITH RESPECT TO ANY PENSION PLAN WHICH
COULD RESULT IN THE INCURRENCE BY BORROWER, ANY BORROWER PARTY OR GUARANTOR OF
ANY MATERIAL LIABILITY, FINE OR PENALTY, OR ANY MATERIAL INCREASE IN THE
CONTINGENT LIABILITY OF BORROWER, ANY BORROWER PARTY OR GUARANTOR WITH RESPECT
TO ANY POST-RETIREMENT WELFARE PLAN BENEFIT; (VII) AS SOON AS POSSIBLE AFTER
BORROWER SHALL HAVE RECEIVED KNOWLEDGE THEREOF, NOTICE THAT AN AMENDMENT SHALL
BE REQUIRED OR DESIRABLE TO THE PROJECT BUDGET; OR (VIII) ANY NOTICES ALLEGING A
MATERIAL DEFAULT (BY ANY PARTY THERETO) UNDER ANY OF THE BASIC AGREEMENTS OR THE
MANAGEMENT AGREEMENT.
(C)
FURNISHING REPORTS AND NOTICES.
UPON
REQUEST BY LENDER, BORROWER SHALL PROVIDE LENDER WITH COPIES OF: (I) ALL
INSPECTIONS, REPORTS, TEST RESULTS AND OTHER INFORMATION RECEIVED BY BORROWER
FROM TIME TO TIME FROM ITS EMPLOYEES, AGENTS, REPRESENTATIVES, ARCHITECTS,
ENGINEERS, CONTRACTORS AND ANY OTHER PARTIES INVOLVED IN THE PROJECT AND (II)
ANY NOTICES PERTAINING TO THE PROJECT WHICH BORROWER HAS RECEIVED FROM ANY
GOVERNMENTAL AUTHORITIES OR ANY INSURANCE COMPANY PROVIDING INSURANCE IN
CONNECTION WITH THE PROJECT.
(D)
TAX RETURNS. ON OR BEFORE APRIL 30 OF EACH
YEAR DURING THE TERM OF THE LOAN, TRUE, CORRECT AND COMPLETE COPIES OF
BORROWER'S FEDERAL AND STATE INCOME TAX RETURNS, GUARANTOR'S FEDERAL AND STATE
INCOME TAX RETURNS AND THE FEDERAL AND STATE TAX RETURNS FOR ALL ENTITIES
REPORTING INCOME AND EXPENSES ON THE PROJECT; PROVIDED, THAT IF AN EXTENSION IS
FILED BY ANY SUCH PARTY WITH THE INTERNAL REVENUE SERVICE OR APPLICABLE STATE
REVENUE DEPARTMENT, THEN IF LENDER IS PROVIDED A
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true, correct and complete copy of such extension, Borrower may deliver such
income tax returns to Lender simultaneously upon the filing thereof.
(E)
SALES REPORTS.
THE SALES REPORT AS AND
WHEN REQUIRED BY THE TERMS OF SECTION 8.4.
(F)
CONDOMINIUM CONTRACTS.
UPON EXECUTION
THEREOF, COMPLETE COPIES OF ALL CONDOMINIUM CONTRACTS.
(G)
HOMEOWNER'S ASSOCIATION DUES.
WITHIN 15
DAYS OF THE END OF EACH MONTH,
EVIDENCE REASONABLY SATISFACTORY TO LENDER
VERIFYING THAT BORROWER'S PORTION OF THE CONDOMINIUM HOMEOWNER'S ASSOCIATION
DUES HAVE BEEN PAID.
(H)
BOOKS AND RECORDS.
BORROWER SHALL MAINTAIN
COMPLETE BOOKS OF ACCOUNT AND OTHER RECORDS FOR THE PROPERTY, AND THE SAME SHALL
BE MADE AVAILABLE FOR AUDIT, INSPECTION AND COPYING BY LENDER AND ITS AGENTS AT
REASONABLE TIMES AND UPON REASONABLE PRIOR NOTICE.
(I)
OTHER.
BORROWER SHALL ALSO FURNISH
LENDER SUCH OTHER MATERIAL FINANCIAL INFORMATION