7.5 HRSR 05-01-2017 - Laserfiche WebLink

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5. Disbursement of Loan. Upon receipt by Lender of all of the items required pursuant to Section 4 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 to Borrower. 6. 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 the Loan Property. 7. 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, acting solely through its municipal or financial advisor, shall have the right to inspect, examine and copy all such books and records of the Borrower and the Entity Guarantor and Borrower and the Entity Guarantor shall, at Lender's request, furnish such information solely to the Lender's municipal or finance advisor, as may reasonably be demanded. The Borrower and the Entity Guarantor will not be required to provide its books and records directly to the Lender. 8. Encumbrances and Transfer. Other than the First Lien Mortgage, Borrower agrees not to sell, transfer, lease or convey the Loan Property or any part of it, or any interest therein, or encumber the Loan Property or any part of it, 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. 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. 9. Agreement. Time of Essence Time is of the essence in the performance of this 10. Assignability. Borrower shall not assign this Agreement 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. 11. Miscellaneous Covenants of Borrower. Borrower covenants and agrees with Lender that, without cost to Lender, Borrower will or will cause Entity Guarantor to: (a) Performance of Conditions. Promptly keep, perform and comply with all of the terms, covenants and conditions to be kept and performed by Borrower, as required by the City and any other governmental body having jurisdiction over the Loan Property; keep unimpaired the rights of Borrower under any permit or agreement issued or made by the City or other governmental body having jurisdiction over the Loan Property; and to enforce the prompt performance of all of the terms, covenants and conditions to be kept and performed by the City or other governmental body having jurisdiction over the Loan 4 498527v1 EL185 -51