THE GROUND LEASE
TO LENDER PURSUANT TO SECTION 365 OF THE BANKRUPTCY CODE AND (II) LENDER
COVENANTS TO CURE OR PROVIDE ADEQUATE ASSURANCE OF PROMPT CURE OF ALL DEFAULTS
AND PROVIDE ADEQUATE ASSURANCE OF FUTURE PERFORMANCE UNDER THE GROUND LEASE.
IF
LENDER SERVES UPON BORROWER THE NOTICE DESCRIBED IN THE PRECEDING SENTENCE,
BORROWER SHALL NOT SEEK TO REJECT THE GROUND LEASE AND SHALL COMPLY WITH THE
DEMAND PROVIDED FOR IN CLAUSE (I) OF THE PRECEDING SENTENCE WITHIN THIRTY (30)
DAYS AFTER THE NOTICE SHALL HAVE BEEN GIVEN, SUBJECT TO THE PERFORMANCE BY
LENDER OF THE COVENANT PROVIDED FOR IN CLAUSE (II) OF THE PRECEDING SENTENCE.
(N)
EFFECTIVE UPON THE ENTRY OF AN ORDER FOR RELIEF IN RESPECT OF
BORROWER UNDER THE BANKRUPTCY CODE, BORROWER HEREBY ASSIGNS AND TRANSFERS TO
LENDER A NON-EXCLUSIVE RIGHT TO APPLY TO THE APPROPRIATE BANKRUPTCY COURT UNDER
SECTION 365(D)(4) OF THE BANKRUPTCY CODE FOR AN ORDER EXTENDING THE PERIOD
DURING WHICH THE GROUND LEASE MAY BE REJECTED OR ASSUMED.
(O)
BORROWER WILL GIVE LENDER PROMPT (AND IN ALL EVENTS WITHIN FIVE
(5) DAYS) NOTICE OF ANY DEFAULT UNDER THE GROUND LEASE OR OF THE RECEIPT BY
BORROWER OF ANY NOTICE OF DEFAULT FROM GROUND LESSOR.
BORROWER WILL PROMPTLY
(AND IN ALL EVENTS WITHIN (5) DAYS) FURNISH TO LENDER COPIES OF ALL INFORMATION
FURNISHED TO GROUND LESSOR BY THE TERMS OF THE GROUND LEASE OR THE PROVISIONS OF
THIS SECTION 2.13.
BORROWER WILL DEPOSIT WITH LENDER AN EXACT COPY OF ANY
NOTICE, COMMUNICATION, PLAN, SPECIFICATION OR OTHER INSTRUMENT OR DOCUMENT
RECEIVED OR GIVEN BY BORROWER IN ANY WAY RELATING TO OR AFFECTING THE GROUND
LEASE WHICH MAY CONCERN OR AFFECT THE ESTATE OF GROUND LESSOR OR BORROWER
THEREUNDER IN OR UNDER THE GROUND LEASE OR IN THE REAL ESTATE THEREBY DEMISED.
(P)
UPON ACQUISITION OF THE FEE TITLE OR ANY OTHER ESTATE, TITLE OR
INTEREST IN THE LEASEHOLD PREMISES BY BORROWER, THIS SECURITY INSTRUMENT SHALL,
AUTOMATICALLY AND WITHOUT THE NECESSITY OF EXECUTION OF ANY OTHER DOCUMENTS,
ATTACH TO AND COVER AND BE A LIEN UPON SUCH OTHER ESTATE SO ACQUIRED, AND SUCH
OTHER ESTATE SHALL BE CONSIDERED AS MORTGAGED, ASSIGNED AND CONVEYED TO LENDER
AND THE LIEN HEREOF SPREAD TO COVER SUCH ESTATE WITH THE SAME FORCE AND EFFECT
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AS THOUGH SPECIFICALLY HEREIN MORTGAGED, ASSIGNED AND CONVEYED.
THE PROVISIONS
OF THIS SUBSECTION SHALL NOT APPLY IF LENDER ACQUIRES TITLE TO THE LEASEHOLD
PREMISES UNLESS LENDER SHALL SO ELECT.
ARTICLE III:
INSURANCE AND CASUALTY RESTORATION
SECTION 3.01.
INSURANCE COVERAGE.
BORROWER SHALL, AT ITS EXPENSE, MAINTAIN THE
FOLLOWING INSURANCE COVERAGES WITH RESPECT TO THE PROPERTY DURING THE TERM OF
THIS SECURITY INSTRUMENT:
(A)
(I) INSURANCE AGAINST LOSS OR DAMAGE BY FIRE, CASUALTY AND OTHER
HAZARDS INCLUDED IN AN "ALL-RISK" COVERAGE ENDORSEMENT OR ITS EQUIVALENT (WHICH,
IN THE CASE OF INSURANCE DURING THE TIME OF ANY CONSTRUCTION WORK
("CONSTRUCTION") SHALL BE IN "BUILDER'S RISK COMPLETED VALUE NON-REPORTING FORM"
TOGETHER WITH RENTS, EARNINGS AND EXTRA EXPENSE INSURANCE COVERING LOSS DUE TO
DELAY IN COMPLETION OF THE IMPROVEMENTS), WITH SUCH