RENT ROLL FOR EACH SUCH UNIT, EACH CERTIFIED
TO FAIRLY REPRESENT THE STATUS OF SUCH UNIT BY THE OWNER OF SUCH UNIT, WHICH
REPORTS SHALL BE DELIVERED TO AGENT NO LATER THAN TWENTY (20) DAYS AFTER THE
LAST DAY OF EACH CALENDAR MONTH; AND
(VI)
(1) MONTHLY STATEMENTS SHOWING ANY REVISIONS SINCE THE PRECEDING
MONTHLY STATEMENT TO THE PLANS AND SPECIFICATIONS (INCLUDING ALL CHANGE ORDERS
SINCE THE PRECEDING MONTHLY STATEMENT (REGARDLESS OF WHETHER THE WORK ON SUCH
CHANGE ORDER HAS COMMENCED OR THE PRICE THEREFOR OR ANY APPLICABLE TIME
EXTENSION WITH RESPECT THERETO HAS BEEN AGREED TO) AND (2) QUARTERLY STATEMENTS
SHOWING THE CONTRACTS ENTERED INTO BY ANY BORROWER ENTITY, OR BY GENERAL
CONTRACTOR WITH SUBCONTRACTORS, SUBSEQUENT TO THE CLOSING DATE, WHICH STATEMENTS
SHALL BE CERTIFIED BY BORROWER (AS TO CONTRACTS ENTERED INTO BY BORROWER) OR THE
APPLICABLE MEMBER (AS TO CONTRACTS ENTERED INTO BY SUCH MEMBER) AND DELIVERED TO
AGENT AND CONSTRUCTION CONSULTANT NO LATER THAN TWENTY (20) DAYS AFTER THE LAST
DAY OF EACH CALENDAR MONTH OR CALENDAR QUARTER, AS APPLICABLE.
(B)
TO GRANT (AND TO CAUSE EACH MEMBER TO GRANT) AGENT THE RIGHT TO
CONDUCT AN INDEPENDENT AUDIT OF ANY OF THE ABOVE FINANCIAL INFORMATION AT ITS
OWN EXPENSE AT ANY TIME; PROVIDED, HOWEVER, THAT IF ANY SUCH AUDIT SHALL REVEAL
AN ERROR IN EXCESS OF THREE AND ONE-HALF PERCENT (31⁄2%), SUCH AUDIT EXPENSE SHALL
BE BORNE SOLELY BY THE BORROWER OR MEMBER WHICH IS BEING AUDITED.
(C)
TO GRANT (AND TO CAUSE EACH MEMBER TO GRANT) AGENT AND ITS
ADVISORS THE RIGHT UPON REASONABLE PRIOR NOTICE DURING REASONABLE BUSINESS HOURS
AT THE
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PREMISES OR AT BORROWER'S OR SUCH MEMBER'S OFFICE TO EXAMINE THE RECORDS, BOOKS,
MANAGEMENT AND OTHER PAPERS OF BORROWER OR SUCH MEMBER, AS APPLICABLE, WHICH
REFLECT UPON SUCH ENTITY'S FINANCIAL CONDITION, AND AGENT AND ITS ADVISORS SHALL
HAVE THE RIGHT TO MAKE COPIES AND EXTRACTS FROM THE FOREGOING RECORDS AND OTHER
PAPERS.
SECTION 7.17
COMPLIANCE WITH LEGAL REQUIREMENTS.
(A)
TO COMPLY,
AND CAUSE THE MORTGAGED PROPERTY TO COMPLY AT ALL TIMES WITH ALL LEGAL
REQUIREMENTS APPLICABLE THERETO, INCLUDING, WITHOUT LIMITATION, OBTAINING AND
COMPLYING WITH ALL CONDITIONS AND REQUIREMENTS OF ALL GOVERNMENTAL APPROVALS
THEN NECESSARY FOR THE CONSTRUCTION, USE, OCCUPANCY AND OPERATION OF THE
MORTGAGED PROPERTY OR ANY PORTION OF THE MORTGAGED PROPERTY OR THE BUSINESS
THEREON, AND TO PRESERVE AND MAINTAIN THE SAME IN FULL FORCE AND EFFECT; AND TO
PROVIDE AGENT WITH EVIDENCE REASONABLY SATISFACTORY TO AGENT THAT THE MORTGAGED
PROPERTY COMPLIES WITH ALL LEGAL REQUIREMENTS APPLICABLE THERETO.
WITHOUT
LIMITING THE FOREGOING, BORROWER SHALL STRICTLY COMPLY (AND SHALL CAUSE EACH
MEMBER TO COMPLY) TO THE EXTENT APPLICABLE WITH THE REQUIREMENTS OF THE
AMERICANS WITH DISABILITIES ACT OF 1990, ALL STATE AND LOCAL LAWS AND ORDINANCES
RELATED TO HANDICAPPED ACCESS AND ALL RULES, REGULATIONS, AND ORDERS ISSUED
PURSUANT THERETO INCLUDING, WITHOUT LIMITATION, THE AMERICANS WITH DISABILITIES
ACT ACCESSIBILITY GUIDELINES FOR BUILDINGS AND FACILITIES.
(B)
BORROWER OR THE APPLICABLE MEMBER WILL HAVE THE RIGHT TO CONTEST
THE VALIDITY OR APPLICATION OF ANY OF