OF THE
SECURITY INSTRUMENT BEING PRIMED BY ANY RELATED LIEN.
5.1.3.
LITIGATION.
BORROWER SHALL GIVE PROMPT NOTICE TO LENDER OF ANY
LITIGATION OR GOVERNMENTAL PROCEEDINGS PENDING OR THREATENED IN WRITING AGAINST
ANY BORROWER PARTY OR THEIR RESPECTIVE AFFILIATES WHICH MIGHT HAVE A MATERIAL
ADVERSE EFFECT.
5.1.4.
ACCESS TO PROPERTY.
BORROWER SHALL PERMIT AGENTS, REPRESENTATIVES
AND EMPLOYEES OF LENDER TO INSPECT THE PROPERTY OR ANY PART THEREOF AT
REASONABLE HOURS UPON REASONABLE ADVANCE NOTICE, SUBJECT TO THE RIGHTS OF
TENANTS UNDER LEASES.
5.1.5.
NOTICE OF DEFAULT.
BORROWER SHALL PROMPTLY ADVISE LENDER OF ANY
MATERIAL ADVERSE CHANGE IN ANY BORROWER PARTY'S CONDITION, FINANCIAL OR
OTHERWISE, OR OF THE OCCURRENCE OF ANY DEFAULT OR EVENT OF DEFAULT OF WHICH
BORROWER HAS KNOWLEDGE.
114
5.1.6.
COOPERATE IN LEGAL PROCEEDINGS.
BORROWER SHALL
COOPERATE FULLY WITH LENDER WITH RESPECT TO ANY PROCEEDINGS BEFORE ANY COURT,
BOARD OR OTHER GOVERNMENTAL AUTHORITY WHICH MAY IN ANY WAY AFFECT THE RIGHTS OF
LENDER HEREUNDER OR ANY RIGHTS OBTAINED BY LENDER UNDER ANY OF THE OTHER LOAN
DOCUMENTS AND, IN CONNECTION THEREWITH, PERMIT LENDER, AT ITS ELECTION, TO
PARTICIPATE IN ANY SUCH PROCEEDINGS.
5.1.7.
PERFORM LOAN DOCUMENTS.
EACH BORROWER PARTY SHALL
OBSERVE, PERFORM AND SATISFY ALL THE TERMS, PROVISIONS, COVENANTS AND CONDITIONS
OF, AND SHALL PAY WHEN DUE ALL COSTS, FEES AND EXPENSES TO THE EXTENT REQUIRED
UNDER THE LOAN DOCUMENTS EXECUTED AND DELIVERED BY, OR APPLICABLE TO, SUCH
BORROWER PARTY.
5.1.8.
AWARD AND INSURANCE BENEFITS.
BORROWER SHALL
COOPERATE WITH LENDER IN OBTAINING FOR LENDER AND BORROWER THE BENEFITS OF ANY
AWARDS OR INSURANCE PROCEEDS LAWFULLY OR EQUITABLY PAYABLE IN CONNECTION WITH
THE PROPERTY, AND LENDER SHALL BE REIMBURSED FOR ANY EXPENSES INCURRED IN
CONNECTION THEREWITH (INCLUDING ATTORNEYS' FEES AND DISBURSEMENTS, AND THE
PAYMENT BY BORROWER OF THE EXPENSE OF AN APPRAISAL ON BEHALF OF LENDER IN CASE
OF CASUALTY OR CONDEMNATION AFFECTING THE PROPERTY OR ANY PART THEREOF) OUT OF
SUCH INSURANCE PROCEEDS.
5.1.9.
FURTHER ASSURANCES.
EACH BORROWER PARTY SHALL, AT
BORROWER'S SOLE COST AND EXPENSE:
(A)
FURNISH TO LENDER ALL INSTRUMENTS,
DOCUMENTS, BOUNDARY SURVEYS, FOOTING OR FOUNDATION SURVEYS, CERTIFICATES, PLANS
AND SPECIFICATIONS, APPRAISALS, TITLE AND OTHER INSURANCE REPORTS AND
AGREEMENTS, AND EACH AND EVERY OTHER DOCUMENT, CERTIFICATE, AGREEMENT AND
INSTRUMENT REQUIRED TO BE FURNISHED BY ANY BORROWER PARTY PURSUANT TO THE TERMS
OF THE LOAN DOCUMENTS TO WHICH SUCH BORROWER PARTY IS A PARTY OR WHICH ARE
REASONABLY REQUESTED BY LENDER IN CONNECTION THEREWITH;
(B)
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 OBLIGATIONS OF
BORROWER UNDER THE LOAN DOCUMENTS, AS LENDER MAY REASONABLY REQUIRE INCLUDING,
WITHOUT LIMITATION, THE EXECUTION AND DELIVERY OF ALL SUCH WRITINGS NECESSARY TO
TRANSFER ANY LIQUOR LICENSES WITH RESPECT TO THE PROPERTY INTO THE NAME OF
LENDER OR ITS DESIGNEE AFTER THE OCCURRENCE OF AN EVENT OF DEFAULT; AND
(C)
DO AND EXECUTE ALL AND SUCH FURTHER LAWFUL
AND REASONABLE ACTS, CONVEYANCES AND