OF THE
OTHER LOAN DOCUMENTS BY BORROWER.
ALL REPRESENTATIONS, WARRANTIES, COVENANTS
AND AGREEMENTS MADE IN THIS AGREEMENT OR IN THE OTHER LOAN DOCUMENTS BY BORROWER
SHALL BE DEEMED TO HAVE BEEN RELIED UPON BY LENDER NOTWITHSTANDING ANY
INVESTIGATION HERETOFORE OR HEREAFTER MADE BY LENDER OR ON ITS BEHALF.
ARTICLE V
BORROWER COVENANTS
SECTION 5.1.
AFFIRMATIVE COVENANTS.
FROM THE CLOSING DATE AND UNTIL
PAYMENT AND PERFORMANCE IN FULL OF ALL OBLIGATIONS OF BORROWER UNDER THE LOAN
DOCUMENTS OR THE EARLIER RELEASE OF THE LIEN OF THE MORTGAGE ENCUMBERING THE
PROPERTY (AND ALL RELATED OBLIGATIONS) IN ACCORDANCE WITH THE TERMS OF THIS
AGREEMENT AND THE OTHER LOAN DOCUMENTS, BORROWER HEREBY COVENANTS AND AGREES
WITH LENDER THAT:
5.1.1
EXISTENCE; COMPLIANCE WITH LEGAL REQUIREMENTS; INSURANCE.
BORROWER
SHALL DO OR CAUSE TO BE DONE ALL THINGS NECESSARY TO PRESERVE, RENEW AND KEEP IN
FULL FORCE AND
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EFFECT ITS EXISTENCE, RIGHTS, LICENSES, PERMITS AND FRANCHISES AND COMPLY WITH
ALL LEGAL REQUIREMENTS APPLICABLE TO IT AND THE PROPERTY.
BORROWER SHALL NOT
COMMIT, NOR SHALL BORROWER PERMIT ANY OTHER PERSON IN OCCUPANCY OF OR INVOLVED
WITH THE OPERATION OR USE OF THE PROPERTY TO COMMIT, ANY ACT OR OMISSION
AFFORDING THE FEDERAL GOVERNMENT OR ANY STATE OR LOCAL GOVERNMENT THE RIGHT OF
FORFEITURE AS AGAINST THE PROPERTY OR ANY PART THEREOF OR ANY MONIES PAID IN
PERFORMANCE OF BORROWER'S OBLIGATIONS UNDER ANY OF THE LOAN DOCUMENTS.
BORROWER
HEREBY COVENANTS AND AGREES NOT TO COMMIT, PERMIT OR SUFFER TO EXIST ANY ACT OR
OMISSION AFFORDING SUCH RIGHT OF FORFEITURE.
BORROWER SHALL AT ALL TIMES
MAINTAIN, PRESERVE AND PROTECT ALL ITS FRANCHISES AND TRADE NAMES AND PRESERVE
ALL THE REMAINDER OF ITS PROPERTY USED OR USEFUL IN THE CONDUCT OF ITS BUSINESS
AND SHALL KEEP THE PROPERTY IN GOOD WORKING ORDER AND REPAIR, AND FROM TIME TO
TIME MAKE, OR CAUSE TO BE MADE, ALL REASONABLY NECESSARY REPAIRS, RENEWALS,
REPLACEMENTS, BETTERMENTS AND IMPROVEMENTS THERETO, ALL AS MORE FULLY PROVIDED
IN THE MORTGAGE.
BORROWER SHALL KEEP THE PROPERTY INSURED AT ALL TIMES BY
FINANCIALLY SOUND AND REPUTABLE INSURERS, TO SUCH EXTENT AND AGAINST SUCH RISKS,
AND MAINTAIN LIABILITY AND SUCH OTHER INSURANCE, AS IS MORE FULLY PROVIDED IN
THIS AGREEMENT. BORROWER SHALL OPERATE, OR CAUSE THE TENANT TO OPERATE, ANY
PROPERTY THAT IS THE SUBJECT OF AN O&M AGREEMENT (IF ANY) IN ACCORDANCE WITH THE
TERMS AND PROVISIONS THEREOF IN ALL MATERIAL RESPECTS.
AFTER PRIOR WRITTEN
NOTICE TO LENDER, BORROWER, AT ITS OWN EXPENSE, MAY CONTEST BY APPROPRIATE LEGAL
PROCEEDING PROMPTLY INITIATED AND CONDUCTED IN GOOD FAITH AND WITH DUE
DILIGENCE, THE VALIDITY OF ANY LEGAL REQUIREMENT, THE APPLICABILITY OF ANY LEGAL
REQUIREMENT TO BORROWER OR THE PROPERTY OR ANY ALLEGED VIOLATION OF ANY LEGAL
REQUIREMENT, PROVIDED THAT (I) NO EVENT OF DEFAULT HAS OCCURRED AND REMAINS
UNCURED; (II) INTENTIONALLY OMITTED; (III) SUCH PROCEEDING SHALL BE PERMITTED
UNDER AND BE CONDUCTED IN ACCORDANCE WITH THE PROVISIONS OF ANY INSTRUMENT TO
WHICH BORROWER IS SUBJECT AND SHALL NOT CONSTITUTE A DEFAULT THEREUNDER AND SUCH
PROCEEDING SHALL BE CONDUCTED IN ACCORDANCE