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200412317 reasonable opinion of the Manager, is of material significance, (C) any labor dispute or work stoppage of a material nature involving any contractor or subcontractor on the Mortgaged Property, (D) any rejection of any item of work by any building inspector, authorized governmental authority or public utility which results in total, substantial or prolonged (i.e., more than three (3) work days') work stoppage, (E) any casualty loss with respect to the Mortgaged Property, (F) receipt of any notice from any authority having jurisdiction over the Mortgaged Property, or portion thereof, of the violation of any law, statute, rule, ordinance, court decision, regulation or Legal Requirement, (G) receipt of any notice from an insurance carrier relating to existing claims covered by insurance policies and/or cancellation or threat of cancellation of any such insurance, (H) receipt of any notice relating in any way to the condemnation of the Mortgaged Property, (I) any event which could have a Material Adverse Effect. Failure by Manager to provide the notices to Lender in this Section or any other notice required to be delivered to Lender by Manager in this Agreement shall constitute an Event of Default hereunder. Lender shall have the option, but not the obligation, to cure any such default(s) by Borrower under the Management Agreement within the time periods provided in the Management Agreement for cure of Borrower's defaults or, if no time period is specified in the Management Agreement, within thirty (30) days, provided that if such default is not susceptible to cure within thirty (30) days, such cure period shall be extended, provided that Lender is diligently pursuing such cure for such time as may be necessary to complete such cure, such time period to begin, in the event of a cure by Lender, on the date of Lender's actual receipt of such notice which notice shall be in writing. Manager shall accept any performance by Lender of any of Borrower's covenants or agreements under the Management Agreement and any cure of Borrower's defaults, as if performed by Borrower. If Borrower's default is one that cannot be cured by Lender's payment of money and until Lender has obtained possession of the Mortgaged Property from Borrower, then the time period which Lender shall have to cure Borrower's default shall be extended by the time necessary for Lender to obtain possession of the Mortgaged Property, provided Lender is diligently pursuing such possession. Notwithstanding the terms of this Section 3(e), Manager may not terminate any of its obligations with respect to all or any portion of the Facility without providing Lender with the notice described in Section 3(a) hereof. (f) Further Assurances. Manager shall (i) execute such affidavits and certificates as Lender shall reasonably require to further evidence the agreements herein contained, (ii) on request from the Lender, furnish the Lender with copies of such information as the Borrower is entitled to receive under the Management Agreement, and (iii) reasonably cooperate with Lender's representatives in any inspection of all or any portion of the Mortgaged Property to the extent Lender is permitted to enter and inspect such Mortgaged Property in accordance with the Mortgage and/or the Loan Agreement. (g) Acknowledgement of Borrower's Assignment of Leases. Manager acknowledges that, in connection with the assumption of the Loan, Borrower has also assumed the Assignment of Leases, dated January 30, 1997, assigning to Lender, inter alia, all of Borrower's right, title and interest in and to the Leases and the Rents relating to the Facility, and any of Borrower's rights in the security deposits thereunder (to the extent permitted by applicable law). Manager hereby agrees that it will perform its duties in a AO 1244560.1 I