OF THE FOREGOING WOULD
NOT HAVE A MATERIAL ADVERSE EFFECT ON BORROWER, THE IMPROVEMENTS OR BORROWER'S
ABILITY TO PAY AND/OR PERFORM THE OBLIGATIONS.
7.3
COMPLY WITH REQUIREMENTS.
BORROWER WILL COMPLY PROMPTLY
WITH ANY AND ALL LAWS AND ANY OTHER REQUIREMENTS OF ANY GOVERNMENTAL AUTHORITY
RELATING TO THE PROPERTY OR THE IMPROVEMENTS, EXCEPT WHERE THE FAILURE TO SO
COMPLY WOULD NOT REASONABLY BE EXPECTED TO HAVE A MATERIAL ADVERSE EFFECT ON
BORROWER, THE IMPROVEMENTS OR BORROWER'S ABILITY TO PAY AND/OR PERFORM THE
OBLIGATIONS.
7.4
INSPECTION.
BORROWER WILL PERMIT LENDER AND THE
INSPECTING ENGINEER TO ENTER UPON THE PROPERTY, INSPECT THE IMPROVEMENTS AND ALL
MATERIALS TO BE USED IN THE CONSTRUCTION THEREOF AND TO EXAMINE ALL DETAILED
PLANS AND SPECIFICATIONS AND SHOP DRAWINGS WHICH ARE OR MAY BE KEPT AT THE
CONSTRUCTION SITE.
7.5
REIMBURSEMENT OF EXPENSES.
BORROWER SHALL PAY ON DEMAND
ALL COSTS AND EXPENSES IN CONNECTION WITH THE PREPARATION, NEGOTIATION,
EXECUTION, DELIVERY, FILING, RECORDING AND ADMINISTRATION OF THE LOAN
DOCUMENTS.
IN ADDITION, BUT NOT AS A LIMITATION, BORROWER WILL PAY:
(A)
ALL TAXES AND RECORDING EXPENSES, INCLUDING
ALL INTANGIBLE, REGISTRATION AND STAMP TAXES, IF ANY;
(B)
TITLE INSURANCE PREMIUMS, CONSTRUCTION
DISBURSEMENT FEES, FLOOD DETERMINATION FEES, APPRAISER FEES AND ENVIRONMENTAL
AUDIT FEES;
(C)
FEES DUE TO BROKERS IN CONNECTION WITH THE
PROPERTY OR THIS AGREEMENT;
(D)
ALL REASONABLE LEGAL FEES AND EXPENSES,
INCLUDING, WITHOUT LIMITATION, LENDER'S COUNSEL'S FEES AND EXPENSES FOR SERVICES
PERFORMED AND SUMS ADVANCED IN CONNECTION WITH THIS LOAN TRANSACTION;
(E)
ALL REASONABLE FEES AND OUT-OF-POCKET
EXPENSES OF THE INSPECTING ENGINEER;
51
(F)
ALL FEES AND OUT-OF-POCKET EXPENSES OF
LENDER IN CONNECTION WITH ANY LITIGATION, CONTEST, DISPUTE, SUIT, PROCEEDING OR
ACTION (WHETHER INSTITUTED BY LENDER, BORROWER OR ANY OTHER PERSON) IN ANY WAY
RELATING TO THE COLLATERAL, THIS AGREEMENT, ANY OF THE OTHER LOAN DOCUMENTS OR
BORROWER'S AFFAIRS;
(g)
all fees and out-of-pocket expenses of
Lender in connection with any attempt to enforce any rights of Lender against
Borrower or any other Person which may be obligated to Lender by virtue of this
Agreement or any of the other Loan Documents,
(H)
ALL FEES AND OUT-OF-POCKET EXPENSES OF
LENDER IN CONNECTION WITH ANY ATTEMPT TO INSPECT, VERIFY, PROTECT, PRESERVE,
RESTORE, COLLECT, SELL, MANUFACTURE, LIQUIDATE OR OTHERWISE DISPOSE OF OR
REALIZE UPON THE COLLATERAL; AND
(i)
any and all fees assessed against Lender
by the IFA in connection with the IFA Guaranty, except for the annual fee of
one-half of one percent (1/2 of 1%) of the maximum principal amount of the
Construction/Term Loan that Lender is required to pay the IFA pursuant to the
terms of 20 ILCS 3501/830-35 of the Illinois Finance Authority Act.
ALL COSTS, EXPENSES AND FEES (INCLUDING, WITHOUT LIMITATION, THE FEES TO BE PAID
PURSUANT TO SECTION 3.3 OF THIS AGREEMENT) SHALL BE PAYABLE, ON DEMAND, BY
BORROWER TO LENDER, AND SHALL BE ADDITIONAL OBLIGATIONS HEREUNDER SECURED BY THE
COLLATERAL AND MAY BE FUNDED, IF LENDER SO ELECTS, BY LENDER MAKING AN ADVANCE
AGAINST THE REVOLVING CREDIT LOAN ON BORROWER' BEHALF OR BY DEBITING