PENALTIES THEREON, IF ANY.
SECTION 5.4.
SPLITTING OF MORTGAGE. THE PROVISIONS OF SECTION 9.7 OF
THE LOAN AGREEMENT ARE HEREBY INCORPORATED BY REFERENCE HEREIN.
SECTION 5.5.
REPLACEMENT DOCUMENTS. UPON RECEIPT OF AN AFFIDAVIT OF
AN OFFICER OF LENDER AS TO THE LOSS, THEFT, DESTRUCTION OR MUTILATION OF THE
NOTE OR ANY OTHER LOAN DOCUMENT WHICH IS NOT OF PUBLIC RECORD, AND, IN THE CASE
OF ANY SUCH MUTILATION, UPON SURRENDER AND CANCELLATION OF SUCH NOTE OR OTHER
LOAN DOCUMENT, BORROWER WILL ISSUE, IN LIEU THEREOF, A REPLACEMENT NOTE OR OTHER
LOAN DOCUMENT, DATED THE DATE OF SUCH LOST, STOLEN, DESTROYED OR MUTILATED NOTE
OR OTHER LOAN DOCUMENT IN THE SAME PRINCIPAL AMOUNT THEREOF AND OTHERWISE OF
LIKE TENOR.
ARTICLE 6
DUE ON SALE/ENCUMBRANCE
SECTION 6.1.
LENDER RELIANCE. BORROWER ACKNOWLEDGES THAT LENDER HAS
EXAMINED AND RELIED ON THE EXPERIENCE OF BORROWER AND ITS GENERAL PARTNERS,
MEMBERS, PRINCIPALS AND (IF BORROWER IS A TRUST) BENEFICIAL OWNERS IN OWNING AND
OPERATING PROPERTIES SUCH AS THE PROPERTY IN AGREEING TO MAKE THE LOAN, AND WILL
CONTINUE TO RELY ON BORROWER'S OWNERSHIP OF THE PROPERTY AS A MEANS OF
MAINTAINING THE VALUE OF THE PROPERTY AS SECURITY FOR REPAYMENT OF THE DEBT AND
THE PERFORMANCE OF THE OTHER OBLIGATIONS. BORROWER ACKNOWLEDGES THAT LENDER HAS
A VALID INTEREST IN MAINTAINING THE VALUE OF THE PROPERTY SO AS TO ENSURE THAT,
SHOULD BORROWER DEFAULT IN THE REPAYMENT OF THE DEBT OR THE PERFORMANCE OF THE
OTHER OBLIGATIONS, LENDER CAN RECOVER THE DEBT BY A SALE OF THE PROPERTY
CONDUCTED IN ACCORDANCE WITH THE TERMS OF THE LOAN DOCUMENTS AND APPLICABLE LAW.
SECTION 6.2.
NO SALE/ENCUMBRANCE. EXCEPT AS SET FORTH IN
SECTION 5.2.13 OF THE LOAN AGREEMENT, BORROWER AGREES THAT BORROWER SHALL NOT,
WITHOUT THE PRIOR WRITTEN CONSENT OF LENDER, SELL, CONVEY, MORTGAGE, GRANT,
BARGAIN, ENCUMBER, PLEDGE, ASSIGN, OR OTHERWISE TRANSFER THE PROPERTY OR ANY
PART THEREOF, INCLUDING, BUT NOT LIMITED TO, A GRANT OF AN EASEMENT,
RESTRICTION, COVENANT, RESERVATION OR RIGHT OF WAY (EXCEPT AS EXPRESSLY
PERMITTED IN SECTION 5.2.13 OF THE LOAN AGREEMENT), OR PERMIT THE PROPERTY OR
ANY PART THEREOF TO BE SOLD, CONVEYED, MORTGAGED, GRANTED, BARGAINED,
ENCUMBERED, PLEDGED, ASSIGNED, OR OTHERWISE TRANSFERRED, UNLESS LENDER SHALL
CONSENT THERETO IN ACCORDANCE WITH SECTION 6.4 HEREOF.
SECTION 6.3.
SALE/ENCUMBRANCE DEFINED. EXCEPT AS PERMITTED PURSUANT
TO THE TERMS OF SECTION 5.2.13 OF THE LOAN AGREEMENT, A SALE, CONVEYANCE,
MORTGAGE, GRANT, BARGAIN, ENCUMBRANCE, PLEDGE, ASSIGNMENT, OR TRANSFER WITHIN
THE MEANING OF THIS ARTICLE 6 SHALL BE DEEMED TO INCLUDE, BUT NOT BE LIMITED TO,
(A) AN INSTALLMENT SALES AGREEMENT WHEREIN BORROWER AGREES TO SELL THE PROPERTY
OR ANY PART THEREOF FOR A PRICE TO BE PAID IN INSTALLMENTS; (B) AN AGREEMENT BY
BORROWER LEASING ALL OR A SUBSTANTIAL PART OF THE PROPERTY FOR OTHER THAN ACTUAL
OCCUPANCY BY A SPACE TENANT THEREUNDER OR A SALE, ASSIGNMENT OR OTHER TRANSFER
OF, OR THE GRANT OF
13
A SECURITY INTEREST IN, BORROWER'S RIGHT, TITLE AND INTEREST IN AND TO ANY
LEASES OR ANY RENTS; (C) THE VOLUNTARY OR INVOLUNTARY SALE,