7.2. EDSR 10-17-2022 - Laserfiche WebLink

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4. Disbursement of Loan. Upon receipt by Lender of all of the items required pursuant to Section 3 above in the form and condition required therein, Lender agrees to disburse the Loan proceeds to Borrower. 5. 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 and the Equipment. 6. Books and Records. Borrower agrees to maintain accurate and complete books, accounts and records in regard to the Loan Property and the Equipment in a manner reasonably acceptable to Lender. Lender and its representatives shall have the right to inspect, examine and copy all such books and records of Borrower and Borrower shall, at Lender's request, furnish such information as Lender may reasonably demand. 7. Encumbrances and Transfer. Other than a lease between the Borrower and its landlord, 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. The Borrower has agreed, pursuant to the Security Agreement, not to sell, transfer, lease or convey the Equipment or any part of it, or any interest therein, or encumber the Equipment or any part of it, in any manner, without the 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. 8. Time of Essence. Time is of the essence in the performance of this Agreement. 9. Assignability. The 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. 10. Miscellaneous Covenants of Borrower. Borrower covenants and agrees with Lender that, without cost to Lender, Borrower will: (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 of Elk River (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 491713vl EL18546