6.1 EDSR 06-17-2024 - Laserfiche WebLink

Home Browse Search

4 EL185\79\955722.v2 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 or will cause Landlord 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 and/or Landlord, 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 and/or Landlord 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 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 and/or Landlord in connection with construction or operation of the Borrower or Landlord’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 in connection with any contracts, documents or agreements referred to herein without the prior written approval of Lender. (c) Performance of Note, Security Agreement, etc. Without limiting the foregoing, keep and perform all of the terms, covenants, conditions and requirements of the Note, the Security Agreement and this Agreement. (d) Insurance. During the term of this Agreement, Borrower shall procure and maintain or cause to be procured and maintained at their sole expense, casualty insurance, public liability insurance and such other types of insurance as are reasonably required by Lender from time to time, 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 all charges associated with the Loan, including, but not limited to: (i) Lender’s attorneys’ fees; and (ii) filing fees of any instruments required under this Agreement (collectively, the “Administrative Costs”) within 30 days of the Lender providing written notice to the Borrower of Lender’s costs. Administrative Costs shall be evidenced by invoices, statements or other reasonable written evidence of costs incurred by the Lender. Page 19 of 104