5. HRSR 05-02-2011 - Laserfiche WebLink

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(e) All information, financial or other, which has been submitted by Borrower and Guarantors in connection with the Loan is true, accurate and complete in all material respects. 14. Indemnification. Borrower agrees to indemnify Lender and save it harmless against all loss, liability, expense, or damages including but not limited to attorneys fees, which may arise by reason of the assertion of any lien against the Loan Property. 15. Defaults. Each of the following shall constitute an Event of Default: (a) Borrower abandons the Loan Property, work on construction of the Improvements is halted or the Improvements are not constructed in accordance with this Agreement. (b) Bankruptcy, reorganization, assignment, insolvency or liquidation proceedings, or other proceedings for relief under any applicable bankruptcy law or other law for relief of debtors are instituted by or against Borrower or Guarantors and, if such proceedings are instituted against Borrower or Guarantors, an order, judgment or decree, without the consent of Borrower or Guarantors appointing a trustee or receiver for Borrower or any part of its or their property or approving a petition under the bankruptcy laws of the United States or any similar laws of any state or other competent jurisdiction, shall have remained in force undischarged or unstayed for a period of 30 days. (c) Any judgment, attachment, garnishment or other similar process is entered against Borrower or against any property or assets of Borrower and is not released, satisfied or discharged or bonded to Lender's satisfaction within 30 days of entry. (d) Borrower fails to commence or complete construction of the Improvements within the time designated in this Agreement or Borrower fails to submit the items required by Section 5 prior to December 31, 2011. (e) Any of the terms, covenants or conditions of any permit or other agreement issued or made by the City or other governmental body having jurisdiction over the Loan Property, including, but not limited to, those relating to the cost of or time for installation of the Improvements, are not complied with within the time required thereby or are terminated or modified by the City or such other governmental body and Borrower has not taken the necessary steps to correct or cure the same within 30 days after written notice is given by Lender. (f) Any mechanic's or material supplier's lien is filed, against the Loan Property and is not released, satisfied or discharged or bonded to Lender's 385593v3 JSB EL185-12 -9-