201502756 - Laserfiche WebLink

Browse

3.15 Hazardous Materials Covenants. (a) Grantor shall not cause or permit the Land or Improvements to be used as a site for the use, generation, manufacture, storage, treatment, release, discharge, disposal, transportation or presence of any Hazardous Materials except in compliance with all applicable Hazardous Materials Laws. (b) Grantor shall use commercially reasonable efforts to comply and cause the Land and Improvements to comply with all Hazardous Materials Laws. (c) Grantor shall immediately notify Beneficiary in writing of: (i) the discovery of any Hazardous Materials on, under or about the Land and Improvements; (ii) any knowledge by Grantor that the Land and Improvements do not comply with any Hazardous Materials Laws; (iii) any Hazardous Materials Claims; and (iv) any knowledge of Grantor with respect to the discovery of any occurrence or condition involving Hazardous Materials in, on or under the real property adjoining or in the vicinity of the Land. 3.16 Covenants Regarding Leases. [Intentionally Omitted] 20150275`i 3.17 Compliance with Laws. Grantor shall comply, and shall use commercially reasonable efforts to cause any Tenants under the Leases to comply, with all Laws applicable to the Mortgaged Property and Grantor's use and operation of the Mortgaged Property. 3.18 Maintenance of Mortgaged Property. Grantor shall, and shall use commercially reasonable efforts to cause any Tenants under the Leases to, at all times maintain, preserve and keep the Mortgaged Property in good repair and condition and from time to time make all necessary and proper repairs and replacements and not commit or permit any waste on or of the Mortgaged Property and not do anything to the Mortgaged Property that may materially impair its value. 3.19 Financial Statements. [Intentionally Omitted] 3.20 Costs and Expenses. Grantor shall promptly pay Beneficiary upon demand all reasonable costs and expenses incurred by Beneficiary in connection with (a) the preparation of this Deed of Trust and all other Loan Documents and the closing of the Loan and any amendment, supplement, or modification of, or any waiver or consent under or with respect to, any of the Loan Documents; and (b) the enforcement or satisfaction by Beneficiary of any of Grantor's obligations under this Deed of Trust or the other Loan Documents. For all purposes of this Deed of Trust, Beneficiary's costs and expenses shall include all reasonable and necessary appraisal fees, cost engineering and inspection fees, legal fees, environmental consultant fees and the cost to Beneficiary of any title insurance premiums and title surveys. Beneficiary and its representatives may, at Beneficiary's option and upon 2 days' prior notice to Grantor, enter upon the Land or inspect the Mortgaged Property, wherever located. ARTICLE 4 DEFAULT AND FORECLOSURE 4.1 Events of Default. The term "Event of Default," as used herein, shall mean the occurrence of any one or more of the following events (including the passage of time, if any, specified therefore): 9