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200102665
<br />statements of mechanics and materialmen and such other evidence of costs, percentage completion
<br />of construction, application of payments, and satisfaction of liens as Lender may reasonably require.
<br />Ifthe insurance proceeds are applied to the payment ofthe sums secured by this Instrument, any such
<br />application of proceeds to principal shall not extend or postpone the due dates of the monthly
<br />installments referred to in paragraphs 1 and 2 hereof or change the amounts of such installments. If
<br />the Property is sold pursuant to paragraph 26 hereof or if Lender acquires title to the Property,
<br />Lender shall have all of the right, title and interest of Borrower in and to any insurance policies and
<br />unearned premiums thereon and in and to the proceeds resulting from any damage to the Property
<br />prior to such sale or acquisition.
<br />Notwithstanding the foregoing, Borrower's obligation to provide any policy or coverage
<br />under this paragraph 5 may be satisfied by the policy or coverage carried by the tenant on the
<br />Property and so long as no default exists, Lender agrees to permit use of the insurance proceeds
<br />consistent with the terms of tenant's lease.
<br />6. PRESERVATION AND MAINTENANCE OF PROPERTY; LEASEHOLDS.
<br />Borrower (a) shall not commit waste or permit impairment or deterioration of the Property, (b) shall
<br />not abandon the Property, (c) shall restore or repair promptly and in a good and workmanlike manner
<br />all or any part of the Property to the equivalent of its original condition reasonable wear and tear
<br />excepted, or such other condition as Lender may approve in writing which approval shall not be
<br />unreasonably withheld or delayed, in the event of any damage, injury or loss thereto, whether or not
<br />insurance proceeds are available to cover in whole or in part the costs of such restoration or repair,
<br />(d) shall keep the Property, including the Borrower's improvements, fixtures, equipment, machinery
<br />and appliances thereon in good repair and shall replace fixtures, equipment, machinery and appliances
<br />on the Property when necessary to keep such items in good repair, (e) shall comply with all laws,
<br />ordinances, regulations and requirements of any governmental body applicable to the Property, (f)
<br />shall not enter into an oral or written contract for the professional management of the Property
<br />without Lender's consent, which shall not be unreasonably withheld or delayed, (g) shall generally
<br />operate and maintain the Property in a manner to ensure market rentals, and (h) shall give notice in
<br />writing to Lender of and, unless otherwise directed in writing by Lender, appear in and defend any
<br />action or proceeding purporting to affect the Property, the security of this Instrument or the rights
<br />or powers of Lender. Subject to Paragraph 16 hereof, Borrower shall not remove, demolish or alter
<br />any improvement now existing or hereafter erected on the Property or any fixture, equipment,
<br />machinery or appliance in or on the Property owned by Borrower except when incident to the
<br />replacement of fixtures, equipment, machinery and appliances with items of like kind.
<br />In addition to Borrower's covenants and agreements above, Borrower further covenants and
<br />agrees that Borrower shall not:
<br />(a) cause or permit the presence, use, generation, manufacture, production, processing,
<br />installation, release, discharge, storage (including aboveground and underground
<br />storage tanks for petroleum or petroleum products), treatment, handling, or disposal
<br />of any Hazardous Materials (as defined below) (excluding the safe and lawful use and
<br />storage of quantities of Hazardous Materials customarily used in the operation and
<br />maintenance of the business of the present or comparable tenants, or of comparable
<br />properties) on or under the Property, or in any way affecting the Property or its value,
<br />1048094.1 5
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