COSTS, PROVIDED THAT (I) NO EVENT OF DEFAULT HAS OCCURRED AND IS CONTINUING
UNDER THE LOAN AGREEMENT, THE NOTE, THIS MORTGAGE OR ANY OF THE OTHER LOAN
DOCUMENTS, (II) BORROWER IS PERMITTED TO DO SO UNDER THE PROVISIONS OF ANY OTHER
MORTGAGE, DEED OF TRUST OR DEED TO SECURE DEBT AFFECTING THE PROPERTY,
(III) SUCH PROCEEDING SHALL SUSPEND THE COLLECTION OF THE LABOR AND MATERIAL
COSTS FROM BORROWER AND FROM THE PROPERTY OR BORROWER SHALL HAVE PAID ALL OF THE
LABOR AND MATERIAL COSTS UNDER PROTEST, (IV) SUCH PROCEEDING SHALL BE PERMITTED
UNDER AND BE CONDUCTED IN ACCORDANCE WITH THE PROVISIONS OF ANY OTHER INSTRUMENT
TO WHICH BORROWER IS SUBJECT AND SHALL NOT CONSTITUTE A DEFAULT THEREUNDER,
(V) NEITHER THE PROPERTY NOR ANY PART THEREOF OR INTEREST THEREIN WILL BE IN
DANGER OF BEING SOLD, FORFEITED, TERMINATED, CANCELED OR LOST, AND (VI) BORROWER
SHALL HAVE FURNISHED THE SECURITY AS MAY BE REQUIRED IN THE PROCEEDING, OR AS
MAY BE REASONABLY REQUESTED BY LENDER TO INSURE THE PAYMENT OF ANY CONTESTED
LABOR AND MATERIAL COSTS, TOGETHER WITH ALL INTEREST AND PENALTIES THEREON.
SECTION 3.7.
PERFORMANCE OF OTHER AGREEMENTS.
BORROWER SHALL OBSERVE AND PERFORM EACH AND EVERY TERM, COVENANT AND PROVISION
TO BE OBSERVED OR PERFORMED BY BORROWER PURSUANT TO THE LOAN AGREEMENT, ANY
OTHER LOAN DOCUMENT AND ANY OTHER AGREEMENT OR RECORDED INSTRUMENT AFFECTING OR
PERTAINING TO THE PROPERTY AND ANY AMENDMENTS, MODIFICATIONS OR CHANGES THERETO.
SECTION 3.8.
CHANGE OF NAME, IDENTITY OR
STRUCTURE. EXCEPT AS SET FORTH IN THE LOAN AGREEMENT, BORROWER SHALL NOT CHANGE
BORROWER'S NAME, IDENTITY (INCLUDING ITS TRADE NAME OR NAMES) OR, IF NOT AN
INDIVIDUAL, BORROWER'S CORPORATE, PARTNERSHIP OR OTHER STRUCTURE WITHOUT
NOTIFYING LENDER OF SUCH CHANGE IN WRITING AT LEAST THIRTY (30) DAYS PRIOR TO
THE EFFECTIVE DATE OF SUCH CHANGE AND, IN THE CASE OF A CHANGE IN BORROWER'S
STRUCTURE, WITHOUT FIRST OBTAINING THE PRIOR
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WRITTEN CONSENT OF LENDER WHICH CONSENT WILL NOT BE UNREASONABLY WITHHELD,
DELAYED OR CONDITIONED PROVIDED THAT SUCH ACTION IS OTHERWISE IN COMPLIANCE WITH
THE LOAN AGREEMENT. BORROWER SHALL EXECUTE AND DELIVER TO LENDER, PRIOR TO OR
CONTEMPORANEOUSLY WITH THE EFFECTIVE DATE OF ANY SUCH CHANGE, ANY FINANCING
STATEMENT OR FINANCING STATEMENT CHANGE REASONABLY REQUIRED BY LENDER TO
ESTABLISH OR MAINTAIN THE VALIDITY, PERFECTION AND PRIORITY OF THE SECURITY
INTEREST GRANTED HEREIN. AT THE REQUEST OF LENDER, BORROWER SHALL EXECUTE A
CERTIFICATE IN FORM REASONABLY SATISFACTORY TO LENDER LISTING THE TRADE NAMES
UNDER WHICH BORROWER INTENDS TO OPERATE THE PROPERTY, AND REPRESENTING AND
WARRANTING THAT BORROWER DOES BUSINESS UNDER NO OTHER TRADE NAME WITH RESPECT TO
THE PROPERTY.
SECTION 3.9.
TITLE. BORROWER HAS GOOD AND
INDEFEASIBLE FEE SIMPLE TITLE TO THE REAL PROPERTY COMPRISING PART OF THE
PROPERTY AND GOOD TITLE TO THE BALANCE OF SUCH PROPERTY, FREE AND CLEAR OF ALL
LIENS (AS DEFINED IN THE LOAN AGREEMENT) WHATSOEVER EXCEPT THE PERMITTED
ENCUMBRANCES (AS DEFINED IN THE LOAN AGREEMENT), SUCH OTHER LIENS AS ARE
PERMITTED PURSUANT TO THE LOAN DOCUMENTS AND THE LIENS CREATED BY THE LOAN