THOSE THAT MORTGAGOR'S FAILURE TO
OBTAIN WOULD NOT HAVE A MATERIAL ADVERSE EFFECT, ALL OF WHICH ARE IN FULL FORCE
AND EFFECT AND NOT THE SUBJECT OF ANY REVOCATION PROCEEDING, UNDISCLOSED
AMENDMENT, RELEASE, SUSPENSION, FORFEITURE OR THE LIKE, OTHER THAN THOSE WHICH
IF NOT IN FULL FORCE AND EFFECT WOULD NOT HAVE A MATERIAL ADVERSE EFFECT. THE
PRESENT AND CONTEMPLATED USE AND OCCUPANCY OF THE MORTGAGED PROPERTY DOES NOT
CONFLICT WITH OR VIOLATE ANY SUCH CERTIFICATE, LICENSE,
AUTHORIZATION, REGISTRATION, PERMIT OR APPROVAL, INCLUDING, BUT NOT LIMITED TO,
ANY CERTIFICATE OF OCCUPANCY, OTHER THAN CONFLICTS OR VIOLATIONS WHICH WOULD NOT
HAVE A MATERIAL ADVERSE EFFECT.
THE
MORTGAGOR SHALL TAKE NO ACTION NOR SHALL
IT FAIL TO TAKE ANY ACTION SO AS TO COMPROMISE OR ADVERSELY AFFECT THE ZONING
CLASSIFICATION OF THE MORTGAGED PROPERTY.
1.03
PAYMENT AND PERFORMANCE OF OBLIGATIONS.
THE MORTGAGOR SHALL PAY ALL OF
THE OBLIGATIONS WHEN DUE AND PAYABLE WITHOUT OFFSET OR COUNTERCLAIM, AND SHALL
OBSERVE AND COMPLY IN ALL RESPECTS WITH ALL OF THE TERMS, PROVISIONS,
CONDITIONS, COVENANTS AND AGREEMENTS TO BE OBSERVED AND PERFORMED BY IT UNDER
THIS MORTGAGE, THE OTHER CREDIT DOCUMENTS TO WHICH IT IS A PARTY AND THE
INTEREST RATE AGREEMENTS TO WHICH IT IS A PARTY (COLLECTIVELY, THE "FINANCING
DOCUMENTS").
1.04
MAINTENANCE, REPAIR, ALTERATIONS, ETC.
THE MORTGAGOR SHALL:
(I) KEEP AND
MAINTAIN THE MORTGAGED PROPERTY IN GOOD CONDITION AND REPAIR (NORMAL WEAR AND
TEAR EXCEPTED); (II) MAKE OR CAUSE TO BE MADE, AS AND WHEN NECESSARY, ALL
REPAIRS, RENEWALS AND REPLACEMENTS, STRUCTURAL AND NONSTRUCTURAL, EXTERIOR AND
INTERIOR, ORDINARY AND EXTRAORDINARY, FORESEEN AND UNFORESEEN WHICH ARE
NECESSARY TO SO MAINTAIN THE MORTGAGED PROPERTY, EXCEPT AS OTHERWISE PROVIDED IN
SECTIONS 1.05 OR 1.07; (III) RESTORE ANY IMPROVEMENT WHICH MAY BE DAMAGED OR
DESTROYED SO THAT THE SAME SHALL, TO THE EXTENT PERMITTED BY APPLICABLE LAW, BE
AT LEAST SUBSTANTIALLY EQUAL TO ITS VALUE, CONDITION AND CHARACTER IMMEDIATELY
PRIOR TO THE DAMAGE OR DESTRUCTION; (IV) NOT COMMIT OR PERMIT ANY WASTE OR
DETERIORATION (NORMAL WEAR AND TEAR EXCEPTED) OF THE MORTGAGED PROPERTY; (V) NOT
PERMIT THE IMPROVEMENTS TO BE DEMOLISHED OR ALTERED IN ANY MANNER THAT
SUBSTANTIALLY DECREASES THE VALUE THEREOF; (VI) PROMPTLY PAY WHEN DUE ALL CLAIMS
FOR LABOR PERFORMED AND MATERIALS FURNISHED THEREFOR EXCEPT TO THE EXTENT SUCH
CLAIMS ARE BEING CONTESTED IN GOOD FAITH BY APPROPRIATE PROCEEDINGS, WHICH
PROCEEDINGS HAVE THE EFFECT OF PREVENTING THE FORFEITURE OR SALE OF ALL OR ANY
PORTION OF THE MORTGAGED PROPERTY; AND (VII) COMPLY WITH ALL APPLICABLE
STATUTES, REGULATIONS AND ORDERS OF, AND ALL APPLICABLE RESTRICTIONS IMPOSED BY,
ALL GOVERNMENTAL AUTHORITIES HAVING JURISDICTION OVER THE MORTGAGED PROPERTY, AS
WELL AS COMPLY WITH THE PROVISIONS OF ANY LEASE, EASEMENT OR OTHER AGREEMENT
AFFECTING ALL OR ANY PART OF THE MORTGAGED PROPERTY, EXCEPT TO THE EXTENT SUCH
NONCOMPLIANCE COULD NOT, INDIVIDUALLY OR IN THE AGGREGATE, REASONABLY BE
EXPECTED TO HAVE A MATERIAL ADVERSE EFFECT.
1.05
REQUIRED INSURANCE; USE OF PROCEEDS.
THE MORTGAGOR WILL, AT ITS EXPENSE,
AT ALL TIMES PROVIDE, MAINTAIN AND KEEP IN FULL FORCE AND EFFECT POLICIES