(30) DAYS PRIOR TO THE EFFECTIVE DATE OF
SUCH CHANGE, AND SHALL HAVE FIRST TAKEN ALL ACTION REQUIRED BY LENDER FOR THE
PURPOSE OF PERFECTING OR PROTECTING THE LIEN AND SECURITY INTERESTS OF LENDER
PURSUANT TO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS AND, IN THE CASE OF A
CHANGE IN BORROWER'S STRUCTURE, WITHOUT FIRST OBTAINING THE PRIOR CONSENT OF
LENDER.
UPON LENDER'S REQUEST, BORROWER SHALL EXECUTE AND DELIVER ADDITIONAL
FINANCING STATEMENTS, SECURITY AGREEMENTS AND OTHER INSTRUMENTS WHICH MAY BE
NECESSARY TO EFFECTIVELY EVIDENCE OR PERFECT LENDER'S SECURITY INTEREST IN THE
PROPERTY AS A RESULT OF SUCH CHANGE OF PRINCIPAL PLACE OF BUSINESS OR PLACE OF
ORGANIZATION.
BORROWER'S PRINCIPAL PLACE OF BUSINESS AND CHIEF EXECUTIVE
OFFICE, AND THE PLACE WHERE BORROWER KEEPS ITS BOOKS AND RECORDS, INCLUDING
RECORDED DATA OF ANY KIND OR NATURE, REGARDLESS OF THE MEDIUM OR RECORDING,
INCLUDING SOFTWARE, WRITINGS, PLANS, SPECIFICATIONS AND SCHEMATICS, HAS BEEN FOR
THE PRECEDING FOUR MONTHS (OR, IF LESS, THE ENTIRE PERIOD OF THE EXISTENCE OF
BORROWER) AND WILL CONTINUE TO BE THE ADDRESS OF BORROWER SET FORTH AT THE
INTRODUCTORY PARAGRAPH OF THIS AGREEMENT (UNLESS BORROWER NOTIFIES LENDER IN
WRITING AT LEAST THIRTY (30) DAYS PRIOR TO THE DATE OF SUCH CHANGE).
BORROWER'S
ORGANIZATIONAL IDENTIFICATION NUMBER, IF ANY, ASSIGNED BY THE STATE OF
INCORPORATION OR ORGANIZATION IS CORRECTLY SET FORTH IN THE INTRODUCTORY
PARAGRAPH OF THIS AGREEMENT.
BORROWER SHALL PROMPTLY NOTIFY LENDER OF ANY
CHANGE IN ITS ORGANIZATIONAL IDENTIFICATION NUMBER.
IF BORROWER DOES NOT NOW
HAVE AN ORGANIZATIONAL IDENTIFICATION NUMBER AND LATER OBTAINS ONE, BORROWER
PROMPTLY SHALL NOTIFY LENDER OF SUCH ORGANIZATIONAL IDENTIFICATION NUMBER.
5.1.11
FINANCIAL REPORTING.
(A)
BORROWER WILL KEEP AND MAINTAIN
OR WILL CAUSE TO BE KEPT AND MAINTAINED ON A FISCAL YEAR BASIS, IN ACCORDANCE
WITH GAAP (OR SUCH OTHER ACCOUNTING BASIS REASONABLY ACCEPTABLE TO LENDER),
RECORDS AND ACCOUNTS REFLECTING ALL OF THE FINANCIAL AFFAIRS OF BORROWER AND ALL
ITEMS OF INCOME AND EXPENSE IN CONNECTION WITH THE OPERATION OF THE PROPERTY.
LENDER SHALL HAVE THE RIGHT FROM TIME TO TIME AT ALL TIMES DURING NORMAL
BUSINESS HOURS UPON REASONABLE NOTICE TO EXAMINE SUCH BOOKS, RECORDS AND
ACCOUNTS AT THE OFFICE OF BORROWER OR OTHER PERSON MAINTAINING SUCH BOOKS,
RECORDS AND ACCOUNTS AND TO MAKE SUCH COPIES OR EXTRACTS THEREOF AS LENDER SHALL
DESIRE.
AFTER THE OCCURRENCE AND DURING THE CONTINUANCE OF AN EVENT OF DEFAULT,
BORROWER SHALL PAY ANY COSTS AND EXPENSES INCURRED BY LENDER TO EXAMINE
BORROWER'S ACCOUNTING RECORDS WITH RESPECT TO THE PROPERTY, AS LENDER SHALL
REASONABLY DETERMINE TO BE NECESSARY OR APPROPRIATE IN THE PROTECTION OF
LENDER'S INTEREST.
(B)
BORROWER WILL FURNISH TO LENDER ANNUALLY,
WITHIN ONE HUNDRED TWENTY (120) DAYS FOLLOWING THE END OF EACH FISCAL YEAR OF
BORROWER, CERTIFIED ANNUAL FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH GAAP
(OR SUCH OTHER ACCOUNTING BASIS REASONABLY ACCEPTABLE TO LENDER) COVERING THE
PROPERTY FOR SUCH FISCAL YEAR AND CONTAINING STATEMENTS OF PROFIT AND LOSS FOR
BORROWER AND THE PROPERTY AND A BALANCE SHEET FOR BORROWER.
SUCH STATEMENTS
SHALL SET FORTH THE FINANCIAL CONDITION AND THE RESULTS