6.6. EDSR 01-20-2015 - Laserfiche WebLink

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Entity Guarantor in connection with any contracts, documents or agreements referred to herein without the prior written approval of Lender. (c)Performance of Note, Security Agreement, etc. Without limiting the foregoing, keep and perform all of the terms, covenants, conditions and requirements of the Note, the Security Agreement, the Life Insurance Security Agreement, the Mortgage, this Agreement and the Contract for Deed Documents. (d)Insurance. During the term of this Agreement, 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 of Entity Guarantor 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)Default Notices. Provide Lender with a copy of any default notice received pursuant to the Contract for Deed Documents (to the extent that such notice is sent by a party other than Lender) or any governmental authority, promptly after receipt of the same. (g)Continual Operation. 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 its business from the Loan Property in a first class manner. (h)Title to Equipment. Borrower represents that Entity Guarantor owns or will own all of the Equipment “free and clear,” that Lender will have a “first priority” lien in the Equipment pursuant to the Security Agreement and that no other party has any right, title or interest in the Equipment. 13.Warranties. Borrower represents and warrants to Lender the following: (a)The Borrower is limited liability company duly formed, validly existing and in good standing under the laws of the State of Minnesota. (b)The making and performance of this Agreement and the execution and delivery of the Note, the Mortgage, the Life Insurance Security Agreement, the Security Agreement and any other instrument required hereunder are within the powers of the Borrower and the Entity Guarantor and have been duly authorized by all necessary 6 454752v2 EL185-29