5. EDSR 07-15-2013 - Laserfiche WebLink

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Lender may waive any of the above requirements in its sole discretion. 6. Disbursement of Loan. Within two (2) business days after receipt by Lender of all of the items required pursuant to Section 5 above in the form and condition required therein and confirmation from Title that Title is prepared to issue the mortgagee's title insurance policy as required herein, Lender agrees to disburse the Loan proceeds into the escrow account set up pursuant to the Escrow and Disbursement Agreement by and among Lender, Borrower and Title. The Escrow and Disbursement Agreement shall be in form and content reasonably acceptable to the parties and shall provide, among other things, that: (i) the Loan proceeds shall be disbursed according to industry standard procedures; (ii) Title may pay requested funds directly to parties named in any Sworn Construction Statement or draw request presented to Title for payment (as opposed to payment to Borrower); and (iii) if Borrower does not comply with Sections 15 (a) or (h) of this Agreement, Title may return the Loan proceeds to Lender in reliance upon a written request by Lender. 7. Access to Loan Property. Lender and its respective representatives shall have at all reasonable times the right to enter and have free access to the Loan Property and the right to inspect all work done, labor performed and material furnished in connection therewith. 8. Books and Records. Borrower agrees to maintain accurate and complete books, accounts and records in regard to the Loan Property in a manner reasonably acceptable to Lender. Lender and its representatives shall have the right to inspect, examine and copy all such books and records of Borrower and Borrower shall, at Lender's request, furnish such information as Lender may reasonably demand. 9. Encumbrances and Transfer. Borrower agrees not to sell, transfer, lease or convey the Loan Property, the Equipment or any part of either, or any interest therein, or encumber the Loan Property, the Equipment or any part of either, in any manner, without written consent of Lender which consent may be granted or withheld in the sole discretion of Lender. This requirement shall apply to each and every sale, transfer, lease or conveyance, whether voluntary or involuntary and whether or not Lender has consented to any such prior sale, transfer lease or conveyance. 10. Time of Essence. Time is of the essence in the performance of this Agreement. 11. Assignability. Borrower shall not assign this Agreement or all or any part of any Advances to be made hereunder without written consent of Lender, which consent may be withheld, conditioned or delayed in Lender's sole discretion. Lender may freely assign or otherwise transfer (including by participation) all or any part of its interest in the Loan or any or all of the Loan documents, in Lender's sole discretion. -5-