AND CLAIMS WHICH
ARE OR MAY BECOME LIENS AGAINST THE APPLICABLE PROPERTY, OR AS MAY BE NECESSARY
OR DESIRABLE FOR THE COMPLETION OF THE REQUIRED WORK, OR FOR CLEARANCE OF TITLE;
(V) TO EXECUTE ALL
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APPLICATIONS AND CERTIFICATES IN THE NAME OF BORROWER WHICH MAY BE REQUIRED BY
ANY OF THE CONTRACT DOCUMENTS; (VI) TO PROSECUTE AND DEFEND ALL ACTIONS OR
PROCEEDINGS IN CONNECTION WITH ANY PROPERTY OR THE REHABILITATION AND REPAIR OF
ANY PROPERTY; AND (VII) TO DO ANY AND EVERY ACT WHICH BORROWER MIGHT DO ON ITS
OWN BEHALF TO FULFILL THE TERMS OF THIS AGREEMENT.
(D)
NOTHING IN THIS SECTION 9.4 SHALL: (I) MAKE
LENDER RESPONSIBLE FOR MAKING OR COMPLETING THE REQUIRED WORK; (II) REQUIRE
LENDER TO EXPEND FUNDS IN ADDITION TO THE RESERVE FUNDS TO MAKE OR COMPLETE ANY
REQUIRED WORK; (III) OBLIGATE LENDER TO PROCEED WITH THE REQUIRED WORK; OR (IV)
OBLIGATE LENDER TO DEMAND FROM BORROWER ADDITIONAL SUMS TO MAKE OR COMPLETE ANY
REQUIRED WORK.
(E)
BORROWER SHALL PERMIT LENDER AND LENDER'S
AGENTS AND REPRESENTATIVES (INCLUDING, WITHOUT LIMITATION, LENDER'S ENGINEER,
ARCHITECT, OR INSPECTOR) OR THIRD PARTIES PERFORMING REQUIRED WORK PURSUANT TO
THIS SECTION 9.4 AFTER REASONABLE NOTICE TO BORROWER TO ENTER ONTO ANY PROPERTY
DURING NORMAL BUSINESS HOURS (SUBJECT TO THE RIGHTS OF TENANTS UNDER LEASES
APPROVED, IF REQUIRED) IN ACCORDANCE WITH THE TERMS HEREOF AND MANAGERS UNDER
APPROVED MANAGEMENT AGREEMENTS TO INSPECT THE PROGRESS OF ANY REQUIRED WORK AND
ALL MATERIALS BEING USED IN CONNECTION THEREWITH, TO EXAMINE ALL PLANS AND SHOP
DRAWINGS RELATING TO SUCH REQUIRED WORK WHICH ARE OR MAY BE KEPT AT ANY
PROPERTY, AND TO COMPLETE ANY REQUIRED WORK MADE PURSUANT TO THIS SECTION 9.4.
BORROWER SHALL CAUSE ALL CONTRACTORS AND SUBCONTRACTORS TO COOPERATE WITH LENDER
AND LENDER'S REPRESENTATIVES OR SUCH OTHER PERSONS DESCRIBED ABOVE IN CONNECTION
WITH INSPECTIONS DESCRIBED IN THIS SECTION 9.4 OR THE COMPLETION OF REQUIRED
WORK PURSUANT TO THIS SECTION 9.4.
(F)
LENDER MAY, TO THE EXTENT ANY REQUIRED
WORK WOULD REASONABLY REQUIRE AN INSPECTION OF ANY PROPERTY, INSPECT SUCH
PROPERTY AT BORROWER'S EXPENSE PRIOR TO MAKING A DISBURSEMENT OF THE RESERVE
FUNDS IN ORDER TO VERIFY COMPLETION OF THE REQUIRED WORK FOR WHICH REIMBURSEMENT
IS SOUGHT.
BORROWER SHALL PAY LENDER A REASONABLE INSPECTION FEE NOT EXCEEDING
$1,000 FOR EACH SUCH INSPECTION.
LENDER MAY REQUIRE THAT SUCH INSPECTION BE
CONDUCTED BY AN APPROPRIATE INDEPENDENT QUALIFIED PROFESSIONAL SELECTED BY
LENDER AND/OR MAY REQUIRE A COPY OF A CERTIFICATE OF COMPLETION BY AN
INDEPENDENT QUALIFIED PROFESSIONAL ACCEPTABLE TO LENDER PRIOR TO THE
DISBURSEMENT OF THE RESERVE FUNDS.
BORROWER SHALL PAY THE EXPENSE OF THE
INSPECTION AS REQUIRED HEREUNDER, WHETHER SUCH INSPECTION IS CONDUCTED BY LENDER
OR BY AN INDEPENDENT QUALIFIED PROFESSIONAL.
(G)
THE REQUIRED WORK AND ALL MATERIALS,
EQUIPMENT, FIXTURES, OR ANY OTHER ITEM COMPRISING A PART OF ANY REQUIRED WORK
SHALL BE CONSTRUCTED, INSTALLED OR COMPLETED, AS APPLICABLE, FREE AND CLEAR OF
ALL MECHANIC'S, MATERIALMAN'S OR OTHER LIENS (EXCEPT FOR PERMITTED
ENCUMBRANCES).
(H)
BEFORE EACH DISBURSEMENT OF THE RESERVE
FUNDS, LENDER MAY REQUIRE BORROWER