EVIDENCE REASONABLY SATISFACTORY TO LENDER THAT SUCH MATERIAL ALTERATIONS
HAVE BEEN FULLY COMPLETED IN ACCORDANCE WITH THE TERMS OF THIS SECTION 5.4.2,
ANY UNUSED PORTION OF ANY SECURITY DEPOSITED WITH LENDER PURSUANT TO THIS
SECTION 5.4.2 SHALL PROMPTLY BE RELEASED TO BORROWER.
5.5
PERFORMANCE OF OTHER AGREEMENTS.
BORROWER SHALL, AND SHALL CAUSE
MORTGAGE BORROWER TO, OBSERVE AND PERFORM EACH AND EVERY TERM TO BE OBSERVED OR
PERFORMED BY BORROWER OR MORTGAGE BORROWER, AS APPLICABLE, PURSUANT TO THE TERMS
OF ANY AGREEMENT OR INSTRUMENT TO WHICH BORROWER OR MORTGAGE BORROWER IS A PARTY
WHICH AFFECTS OR PERTAINS TO THE COLLATERAL OR THE PROPERTY, INCLUDING THE LOAN
DOCUMENTS AND THE MORTGAGE LOAN DOCUMENTS, AS APPLICABLE.
5.6
COOPERATE IN LEGAL PROCEEDINGS.
BORROWER SHALL COOPERATE, AND
SHALL CAUSE EACH LOAN PARTY TO COOPERATE, FULLY WITH LENDER WITH RESPECT TO, AND
PERMIT LENDER, AT ITS OPTION, TO PARTICIPATE IN, ANY PROCEEDINGS BEFORE ANY
GOVERNMENTAL AUTHORITY WHICH MAY IN ANY WAY AFFECT THE RIGHTS OF LENDER UNDER
ANY LOAN DOCUMENT.
5.7
FURTHER ASSURANCES.
BORROWER SHALL, AND SHALL CAUSE EACH LOAN
PARTY TO, AT BORROWER'S SOLE COST AND EXPENSE, (I) EXECUTE AND DELIVER TO LENDER
SUCH DOCUMENTS, INSTRUMENTS, CERTIFICATES, ASSIGNMENTS AND OTHER WRITINGS, AND
DO SUCH OTHER ACTS NECESSARY OR DESIRABLE, TO EVIDENCE, PRESERVE AND/OR PROTECT
THE COLLATERAL AT ANY TIME SECURING OR INTENDED TO SECURE THE DEBT AND/OR FOR
THE BETTER AND MORE EFFECTIVE CARRYING OUT OF THE INTENTS AND PURPOSES OF THE
LOAN DOCUMENTS, AS LENDER MAY REASONABLY REQUIRE FROM TIME TO TIME; AND
(II) UPON LENDER'S REQUEST THEREFOR GIVEN FROM TIME TO TIME AFTER THE OCCURRENCE
OF ANY DEFAULT OR EVENT OF DEFAULT PAY FOR (A) REPORTS OF UCC, FEDERAL TAX LIEN,
STATE TAX LIEN, JUDGMENT AND PENDING
45
LITIGATION SEARCHES WITH RESPECT TO BORROWER OR MORTGAGE BORROWER AND
(B) SEARCHES OF TITLE TO THE PROPERTY, EACH SUCH SEARCH TO BE CONDUCTED BY
SEARCH FIRMS REASONABLY DESIGNATED BY LENDER IN EACH OF THE LOCATIONS REASONABLY
DESIGNATED BY LENDER.
5.8
ENVIRONMENTAL MATTERS.
5.8.1
HAZARDOUS SUBSTANCES.
SO LONG AS MORTGAGE BORROWER OR BORROWER OWNS
OR IS IN POSSESSION OF THE PROPERTY, BORROWER SHALL, OR SHALL CAUSE MORTGAGE
BORROWER TO, (I) KEEP THE PROPERTY FREE FROM HAZARDOUS SUBSTANCES AND IN
COMPLIANCE WITH ALL ENVIRONMENTAL LAWS, (II) PROMPTLY NOTIFY LENDER IF BORROWER
SHALL BECOME AWARE THAT (A) ANY HAZARDOUS SUBSTANCE IS ON OR NEAR THE PROPERTY,
(B) THE PROPERTY IS IN VIOLATION OF ANY ENVIRONMENTAL LAWS OR (C) ANY CONDITION
ON OR NEAR THE PROPERTY SHALL POSE A THREAT TO THE HEALTH, SAFETY OR WELFARE OF
HUMANS AND (III) REMOVE SUCH HAZARDOUS SUBSTANCES AND/OR CURE SUCH VIOLATIONS
AND/OR REMOVE SUCH THREATS, AS APPLICABLE, AS REQUIRED BY LAW (OR AS SHALL BE
REQUIRED BY LENDER IN THE CASE OF REMOVAL WHICH IS NOT REQUIRED BY LAW, BUT IN
RESPONSE TO THE OPINION OF A LICENSED HYDROGEOLOGIST, LICENSED ENVIRONMENTAL
ENGINEER OR OTHER QUALIFIED ENVIRONMENTAL CONSULTING FIRM ENGAGED BY LENDER
("LENDER'S CONSULTANT")), PROMPTLY AFTER BORROWER BECOMES AWARE OF SAME, AT
BORROWER'S SOLE EXPENSE.
NOTHING HEREIN SHALL PREVENT BORROWER FROM RECOVERING