4.6. SR 08-20-2018 - Laserfiche WebLink

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name of Lender or in the name of Borrower or in the name of both, for the following purposes: (a) to complete the Improvements or cause the same to be completed; to use the plans and specifications; to make such additions, changes and corrections in the plans and specifications as Lender reasonably shall deem necessary or desirable; to collect and use any funds of Borrower; to use any funds which may remain unadvanced under this Agreement; to employ such contractors, subcontractors, agents, design professionals and inspectors and enter into such contracts and arrangements as Lender reasonably deems necessary for such purposes; to pay, settle or compromise all existing bills and claims which may be liens against the Loan Property or as may be necessary or reasonably desirable for the completion of the Improvements or clearance of title; to execute all applications and certificates in the name of Borrower; to prosecute and defend all actions or proceedings in connection with the construction of the Improvements on, or any other matter relating to, the Loan Property and do any and every act which Borrower might do in its own behalf; (b) to enforce by any means thatLender then reasonably deems necessary or advisable, all of the terms, covenants and conditions of any permit or agreement issued by the City or any other governmental body having jurisdiction over the Loan Property or the construction contracts or any other contracts obtained or held by Borrower in connection with the construction of and any other contracts; (c) to perform each of the terms, covenants and conditions to be kept and performed by Borrower under any permit or authorization issued by the City or any other governmental body having jurisdiction over the Loan Property or the construction contracts or any other contracts and/or leases obtained or held by Borrower in connection with the construction or operation of the Improvements, and any other contracts; (d) without limiting the foregoing to perform each of the terms, covenants and conditions to be kept or performed by Borrower under this Agreement, the Security Agreement and any other instrument required under this Agreement; and (e) to do all things that Lender reasonably deems necessary or advisable for the purpose of carrying out the powers enumerated in (a), (b), (c) and (d) of this Subparagraph (ii); (iii)The powers herein granted Lender shall be deemed to be powers coupled with an interestand the same are irrevocable; (4)cancel this Agreement; (5)bring appropriate action to enforce such performance and the correction of such Event of Default; 533940v3 GAF EL185-57533940v3 GAF EL185-57 -10-