7.5 HRSR 05-01-2017 - Laserfiche WebLink

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Property, respectively, under any permits or agreements issued or made by the City or such other governmental bodies, and any contractors under all contracts obtained or held by Borrower in connection with construction or operation of the Borrower or Entity Guarantor's businesses. (b) Amendment, Etc. of Documents. Not amend, cancel, terminate, supplement or waive any of the material terms, covenants and conditions of any permit or agreement issued or made by the City or any other governmental body having jurisdiction over the Loan Property, or any other contracts obtained or held by Borrower and /or Entity Guarantor in connection with any contracts, documents or agreements referred to herein without the prior written approval of Lender. (c) Performance of Note etc. Without limiting the foregoing, keep and perform all of the terms, covenants, conditions and requirements of the Note, the Mortgage, and this Agreement. (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 by the Mortgage, with coverages and in amounts normally held by owners of property similar to the Loan Property (as improved) 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. Pay at closing, or within 30 days of written notice from the Lender, all loan charges including, but not limited to: (i) Lender's attorneys' fees; (ii) title insurance fees, costs and premiums; and (iii) filing fees of any instruments required under this Agreement. (f) Default Notices. Provide Lender with a copy of any default notice received by the Borrower or the Entity Guarantor pursuant to any documents related to any financing secured by the Loan Property, 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. 12. Warranties. Borrower represents and warrants to Lender the following: (a) The Borrower corporation 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, and any other instrument required hereunder are 5 498527v1 EL185 -51