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(e) Borrowers have filed all tax returns (federal and state) required to be filed <br /> for all prior years and paid all taxes shown thereon to be due, including interest and <br /> penalties. Borrowers will file all such returns and pay all such taxes for the current and <br /> future years. <br /> (f) All information, financial or other, which has been submitted by <br /> Borrowers, the personal guarantor, and the Landlord in connection with the Loan is true, <br /> accurate and complete in all material respects. <br /> 12. Indemnification. Borrowers agree,jointly and severally, to indemnify Lender and <br /> save it harmless against all loss, liability, expense, or damages including but not limited to <br /> attorneys' fees, which may arise by reason of the assertion of any lien against the Loan Property <br /> or the Equipment. <br /> 13. Defaults. Each of the following shall constitute an Event of Default: <br /> (a) If Borrowers or Landlord abandons the Loan Property. <br /> (b) Bankruptcy, reorganization, assignment, insolvency or liquidation <br /> proceedings, or other proceedings for relief under any applicable bankruptcy law or other <br /> law for relief of debtors are instituted by or against either of the Borrowers and, if such <br /> proceedings are instituted against either of the Borrowers, an order,judgment or decree, <br /> without the consent of Borrowers appointing a trustee or receiver for either of the <br /> Borrowers or any part of their property or approving a petition under the bankruptcy laws <br /> of the United States or any similar laws of any state or other competent jurisdiction, shall <br /> have remained in force undischarged or unstayed for a period of 30 days. <br /> (c) Any judgment, attachment, garnishment or other similar process is entered <br /> against either of the Borrowers or against any property or assets of either of the <br /> Borrowers and is not released, satisfied or discharged or bonded to Lender's satisfaction <br /> within 30 days of entry. <br /> (d) Any of the terms, covenants or conditions of any permit or other <br /> agreement issued or made by the City or other governmental body having jurisdiction <br /> over the Loan Property are not complied with within the time required thereby or are <br /> terminated or modified by the City or such other governmental body and Borrowers have <br /> not taken or has not caused the Landlord to take the necessary steps to correct or cure the <br /> same within 30 days after written notice is given by Lender. <br /> (e) Any mechanic's or material supplier's lien is filed, against the Loan <br /> Property and is not released, satisfied or discharged or bonded to Lender's satisfaction, <br /> subject, however, to Heritage's right to contest the same in accordance with the <br /> provisions of the Security Agreement. <br /> (f) A transfer which violates by Paragraph 9 hereof, Encumbrances and <br /> Transfer, occurs. <br /> 6 <br /> 491713v1 EL185-46 <br />