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
9
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 DOCUMENTS. TO BORROWER'S ACTUAL KNOWLEDGE, THE
PERMITTED ENCUMBRANCES IN THE AGGREGATE DO NOT MATERIALLY ADVERSELY AFFECT THE
VALUE, OPERATION OR USE OF THE PROPERTY OF BORROWER'S ABILITY TO REPAY THE LOAN.
THIS MORTGAGE, WHEN PROPERLY RECORDED IN THE APPROPRIATE RECORDS, TOGETHER WITH
ANY UNIFORM COMMERCIAL CODE FINANCING STATEMENTS REQUIRED TO BE FILED IN
CONNECTION THEREWITH, WILL