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4.6. SR 08-20-2018
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4.6. SR 08-20-2018
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5.Rebates.Pursuant to the Energy Efficiency Improvement Program, <br />Lender expects to receive certain rebates (the “Rebates”) relating to the energy efficiency <br />improvements made by Borrower to the Loan Property. By executing this Agreement, <br />Borrower assigns and Lender assumes all right and title to proceeds from any Rebate <br />arising from the Improvements. Borrower will execute any documentation reasonably <br />necessary to effectuate such assignment and will otherwise assist Lender in a timely <br />manner to obtain any available Rebate. All proceeds of the Rebates received by Lender <br />will be applied to the outstanding principal balance of this Note as set forth therein. <br />6.AccesstoLoanProperty. Lender and its respective representatives shall <br />have at all reasonable times the right to enterand have free access to the Project and the <br />Loan Property and the right to inspect all work done, labor performed and material <br />furnished in connection therewith. <br />7.BooksandRecords. Borrower agrees to maintain accurate and complete <br />books, accounts and records in regard to the Loan Property in a manner reasonably <br />acceptable to Lender. Lender and its representatives shall have the right to inspect, <br />examine and copy all such books and records of Borrower and Borrower shall, at <br />Lender's request, furnish such information as Lender may reasonably demand. <br />8.EncumbrancesandTransfer. Borrower agrees not to sell, transfer, lease or <br />convey its interest in the Loan Property or any part thereof, or any interest therein, or <br />further encumber the Loan Property or any part thereof, in any manner, without written <br />consent of Lender which consent may be granted or withheld in the sole discretion of <br />Lender. This requirement shall apply to each and every sale, transfer, lease, conveyance <br />or encumbrance, whether voluntary or involuntary and whether or not Lender has <br />consented to any such prior sale, transfer, lease, conveyance or encumbrance. <br />9.TimeofEssence. Time is of the essence in the performance of this <br />Agreement. <br />10.Assignability. Borrower shall not assign this Agreement or all or any part <br />of any Advances to be made hereunder without written consent of Lender, which consent <br />may be withheld, conditioned or delayed in Lender’s sole discretion. Lender may freely <br />assign or otherwise transfer (including by participation) all or any part of its interest in <br />the Loan or any or all of the Loan documents, in Lender’s sole discretion. <br />11.MiscellaneousCovenantsofBorrower. Borrower covenants and agrees <br />with Lender that, without costs to Lender, Borrower will: <br />(a)Performance of Conditions. Promptly keep, perform and comply <br />with all of the terms, covenants and conditions to be kept and performed by <br />Borrower, as required by the City and any other governmental body having <br />jurisdiction over the Loan Property as a condition of platting, rezoning or <br />developing the Loan Property; keep unimpaired the rights of Borrower under any <br />533940v3 GAF EL185-57 <br />-5- <br />
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