part of the Property pursuant to a Lease or other written agreement.
"Terrorism Insurance Guarantor" shall have the meaning set forth in Section 6.1
hereof.
"Title Insurance Policy" shall mean, with respect to the Property, an ALTA
mortgagee title insurance policy in the form (acceptable to Lender) (or, if the
Property is in a State which does not permit the issuance of such ALTA policy,
such form as shall be permitted in such State and acceptable to Lender) issued
with respect to the Property and insuring the lien of the Mortgage encumbering
the Property.
"Transferee" shall have the meaning set forth in Section 5.2.13 hereof.
"Transfer Restriction Period"
shall mean the period commencing on the date
which is thirty (30) days prior to any Securitization and ending on the date
which is thirty (30) days following such Securitization.
"UCC" or "Uniform Commercial Code" shall mean the Uniform Commercial Code as in
effect in the applicable State.
"U.S. Obligations" shall mean direct non-callable obligations of the United
States of America as defined in Section 2(a)(16) of the Investment Company Act
as amended (15 USC 80a-1) stated in REMIC Section 1.86 OG-2(a)(8).
SECTION 1.2.
PRINCIPLES OF CONSTRUCTION. ALL
REFERENCES TO SECTIONS AND SCHEDULES ARE TO SECTIONS AND SCHEDULES IN OR TO THIS
AGREEMENT UNLESS OTHERWISE SPECIFIED. ALL USES OF THE WORD "INCLUDING" SHALL
MEAN "INCLUDING, WITHOUT LIMITATION" UNLESS THE CONTEXT SHALL INDICATE
OTHERWISE. UNLESS OTHERWISE SPECIFIED, THE WORDS "HEREOF," "HEREIN" AND
"HEREUNDER" AND WORDS OF SIMILAR IMPORT WHEN USED IN THIS AGREEMENT SHALL REFER
TO THIS AGREEMENT AS A WHOLE AND NOT TO ANY PARTICULAR PROVISION OF THIS
AGREEMENT. UNLESS OTHERWISE SPECIFIED, ALL MEANINGS ATTRIBUTED TO DEFINED TERMS
HEREIN SHALL BE EQUALLY APPLICABLE TO BOTH THE SINGULAR AND PLURAL FORMS OF THE
TERMS SO DEFINED.
18
ARTICLE
II
GENERAL TERMS
SECTION 2.1.
LOAN COMMITMENT; DISBURSEMENT TO
BORROWER.
2.1.1
THE LOAN. SUBJECT TO AND UPON THE TERMS AND
CONDITIONS SET FORTH HEREIN, LENDER HEREBY AGREES TO MAKE AND BORROWER HEREBY
AGREES TO ACCEPT THE LOAN ON THE CLOSING DATE.
2.1.2
DISBURSEMENT TO BORROWER. BORROWER MAY REQUEST AND
RECEIVE ONLY ONE BORROWING HEREUNDER IN RESPECT OF THE LOAN AND ANY AMOUNT
BORROWED AND REPAID HEREUNDER IN RESPECT OF THE LOAN MAY NOT BE REBORROWED.
2.1.3
THE NOTE, MORTGAGE AND LOAN DOCUMENTS. THE LOAN
SHALL BE EVIDENCED BY THE NOTE AND SECURED BY THE MORTGAGE, THE ASSIGNMENT OF
LEASES AND THE OTHER LOAN DOCUMENTS.
2.1.4
USE OF PROCEEDS. BORROWER SHALL USE THE PROCEEDS OF
THE LOAN TO (A) REPAY AND DISCHARGE ANY EXISTING LOANS RELATING TO THE PROPERTY,
(B) PAY ALL PAST-DUE BASIC CARRYING COSTS, IF ANY, IN RESPECT OF THE PROPERTY,
(C) MAKE DEPOSITS INTO THE RESERVE FUNDS ON THE CLOSING DATE IN THE AMOUNTS
PROVIDED HEREIN, (D) PAY COSTS AND EXPENSES INCURRED IN CONNECTION WITH THE
CLOSING OF THE LOAN, AS APPROVED BY LENDER, (E) FUND ANY WORKING CAPITAL
REQUIREMENTS OF THE PROPERTY, AND (F) DISTRIBUTE THE BALANCE, IF ANY, TO
BORROWER.
SECTION 2.2.
INTEREST; LOAN PAYMENTS; LATE
PAYMENT CHARGE.
2.2.1
INTEREST