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200507874
<br />have been fully paid or otherwise reserved or provided for by Manager (any such certification or any certification
<br />furnished by a Manager pursuant to clause (c) above, a "Manager Certification ").
<br />(e) Borrower will furnish Lender annually, upon request by Lender therefor, within forty-five (45)
<br />days following receipt of such request, with a true, complete and correct (i) " unitmix" report for the Property
<br />which notes the number of self - storage units that are rented on the basis of the size of the unit and includes the
<br />security deposit, if any, held by Borrower, the space covered and the arrearages for such tenant, if any, and (ii)
<br />rent roll for the Property with respect to all commercial tenants, including a list of which tenants are in default
<br />under their respective Leases, dated as of the date of Lender's request, identifying each tenant, the monthly rent
<br />and additional rent, if any, payable by such tenant, the expiration date of such tenant's Lease, the security deposit,
<br />if any, held by Borrower under the Lease, the space covered by the Lease, and the arrearages for such tenant, if
<br />any, and each such "unitmix" report and rent roll shall be accompanied by an Officer's Certificate, dated as of the
<br />date of the delivery of such "unitmix" report or rent roll, certifying that such " unitmix" report or rent roll is true,
<br />correct and complete in all material respects as of its date.
<br />(f) Borrower shall furnish to Lender, within the later of sixty (60) days after Lender's request therefor
<br />and five (5) days following the date on which such item is available, with such further detailed information with
<br />respect to the operation of the Property and the financial affairs of Borrower as may be reasonably requested by
<br />Lender.
<br />(g) Borrower shall cause Manager to furnish to Lender, within forty-five (45) days after receipt of
<br />Lender's written request, a schedule of tenant security deposits, together with a certification of Manager as to the
<br />balance in the Security Deposit Account and that such tenant security deposits are being held in accordance with
<br />all Legal Requirements.
<br />(h) Borrower will furnish Lender annually, within one hundred and twenty (120) days after the end of
<br />each Fiscal Year, with a report setting forth (i) the Net Operating Income for such Fiscal Year, (ii) the average
<br />occupancy rate of the Property during such Fiscal Year, (iii) the capital repairs, replacements and improvements
<br />performed at the Property during such Fiscal Year and the aggregate Recurring Replacement Expenditures made
<br />in connection therewith, and (iv) the balance contained in each of the Sub - Accounts as of the end of such Fiscal
<br />Year (which balance Lender shall provide upon Borrower's written request therefor).
<br />(i) Borrower shall and shall cause Guarantor to furnish to Lender annually, within, sixty (60) days of
<br />filing, its respective tax return, a copy of such tax return.
<br />0) If a Trigger Event has occurred and is continuing, Borrower shall submit to Lender for Lender's
<br />written approval an Annual Budget not later than sixty (60) days prior to the commencement of each Fiscal Year
<br />or, if a Trigger Event occurs subsequent to a date which is sixty (60) days prior to the commencement of a Fiscal
<br />Year, within sixty (60) days of the occurrence of the Trigger Event, in form satisfactory to Lender setting forth in
<br />reasonable detail budgeted monthly operating income and monthly operating capital and other expenses for the
<br />Property. Each Annual Budget shall contain, among other things, limitations on management fees, third party
<br />service fees, and other expenses as Borrower may reasonably determine. Lender shall have the right to approve
<br />such Annual Budget which approval shall not be unreasonably withheld, and in the event that Lender objects to
<br />the proposed Annual Budget submitted by Borrower, Lender shall advise Borrower of such objections within
<br />fifteen (15) days after receipt thereof (and deliver to Borrower a reasonably detailed description of such
<br />objections) and Borrower shall, within three (3) days after receipt of notice of any such objections, revise such
<br />Annual Budget and resubmit the same to Lender. Lender shall advise Borrower of any objections to such revised
<br />Annual Budget within ten (10) days after receipt thereof (and deliver to Borrower a reasonably detailed
<br />description of such objections) and Borrower shall revise the same in accordance with the process described
<br />herein until Lender approves an Annual Budget, provided, however, that if Lender shall not advise Borrower of its
<br />objections to any proposed Annual Budget within the applicable time period set forth in this Section, then such
<br />proposed Annual Budget shall be deemed approved by Lender. Until such time that Lender approves a proposed
<br />Annual Budget, the most recently Approved Annual Budget shall apply; provided that, such Approved Annual
<br />Budget shall be adjusted to reflect actual increases in Basic Carrying Costs and to delete any non - recurring
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