8. EDSR 06-17-2013 - Laserfiche WebLink

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(d) Insurance. During the term of the Mortgage, Borrower shall procure and maintain or cause to be procured and maintained at its sole expense casualty insurance, public liability insurance and such other types of insurance as are reasonably required by Lender from time to time, including, without limitation, the coverages expressly required by the Mortgage, insuring Lender and Borrower with coverages, in amounts and with companies satisfactory to Lender. The policy or policies or duly executed certificate or certificates for such insurance and renewals or replacements thereof shall be deposited with Lender. (e) Pay Charges. Immediately pay all loan charges including, but not limited to: (i) Lender's attorneys' fees; (ii) title insurance fees, costs and premiums; (iii) mortgage registration taxes and filing fees of the Mortgage and any other instruments required under this Agreement. (f) Pay Certain Costs. Immediately after written demand from Lender and without regard to whether or not any of the Loan proceeds have been advanced under this Agreement, pay or cause to be paid from time to time if requested by Lender, costs referred to in the Project Cost and Source of Funds Certificate in an amount equal to the costs referred to therein in excess of the [escrowed Project funds][Loan proceeds] remaining available to be advanced to pay such costs, and furnish to Lender proof of payment thereof satisfactory to Lender and Title. (g) Copies of Plans, Contracts, etc. Furnish Lender from time to time as reasonably requested by Lender, copies of the Plans and Specifications, the Construction Contracts and any other specifications and contracts relating to the Improvements,together with estimated costs of such Improvements. (h) Default Notices. Provide Lender with a copy of any default notice received pursuant to the Contract for Deed or any document evidencing the Secondary Financing, promptly after receipt of the same. (i) Title. Except as specifically set forth herein, as of the Closing Date Borrower owns a vendee's interest in the Loan Property and owns or within [sixty (60)] days after the Closing Date will own all of the fixtures, trade fixtures, equipment, personal property and inventory located upon the Loan Property (along with the Loan Property, collectively, the "Collateral") "free and clear," that Lender will have a "first position" lien in the Collateral pursuant to the Mortgage and that no other party has any right, title or interest in the Collateral, except those security interests in the Loan Property in favor of the Contract for Deed vendor and in the Collateral by the Bank of Elk River. (j) Program Covenants. At all times while any portion of the Loan remains outstanding, Borrower will: (i) maintain its status as a for profit entity; (ii) maintain a positive net worth; and(iii) will operate from the Loan Property. -8-