|
200603080
<br />Business Day (dcfincd h_,Jow) after having been deposited for overnight delivery with any reputable overnight courier
<br />service, or (c) three 0) liiisiness Days after having been deposited in any post office or mail depository regularly
<br />maintained by the U.S. 1'ostal Service and sent by registered or certified mail, postage prepaid, return receipt requested,
<br />addressed to Borrower of Lender, as the case may be, at the addresses set forth on the first page of this Security
<br />Instrument or addres,,(,d : ; such party may from tine to time designate by written notice to the other parties; provided,
<br />however, notice regardin.). any proposed foreclosure shall be given in accordance with the requirements hereof.
<br />Either party 1)v i o tide to the other may designate additional or different addresses for subsequent notices or
<br />communications. For trtu iuoses of this Subsection, "Business Day" shall mean a day on which commercial banks are not
<br />authorized or required by I;iw to close in New York, New York.
<br />ARTICLE 16. - CHOICE OF LAW
<br />Section 16.1. C1 1010E OF LAW. This Security instrument and any determination of deficiency judgments shall
<br />be governed, consu-ucd, applied and enforced in accordance with the laws of the state in which the Property is located and
<br />applicable federal law.
<br />Section 1.6.2. 11ROVISL..ONS SUBJECT TO LAW. All rights, powers and remedies provided in this Security
<br />Instrument may he cxcrc ;cd Only to the extent that the exercise thereof does not violate any applicable state or federal
<br />law and are intcudcd t.. Im limited to the extent necessary so that they will not render this Security Instrument invalid,
<br />unenforceable or not cntitied to be recorded, registercd or filed under any applicable state or federal law.
<br />ARTICLE 17. - SECONDARY MARKET
<br />Section 17.1. TRANSFER OF LOAN. Lender may, at any time, sell, transfer or assign the Note, this Security
<br />Instrument and the Other .Security Documents, and any or all servicing rights with respect thereto, or grant participations
<br />therein (the "Participawons ") or issue mortgage passthrough certificates or other securities evidencing a beneficial interest
<br />in it rated or wirated I)uhlic offering or private placement (the "Securities "). Lender may forward to each purchaser,
<br />transferee, assignee, scn ic er, participant, or investor in such Participations or Securities (collectively, the "Investor ") or
<br />any Rating Agency rani e such Securities (a "Rating Agency "), each prospective Investor, and any organization
<br />maintaining dat::basc�, the underwriting and I)crf'ormance of commercial mortgage loans, all documents and
<br />information which Lcnde; new has or may hereafter acquire relating to the Debt and to Borrower, any Guarantor, any
<br />Indemnitor(s) and the Property, whether furnished by Borrower, any Guarantor, any Indemnitor(s) or otherwise, as
<br />Lender determine~ nee ,s,u'v or desirable. Borrower irrevocably waives any and all rights it may have under applicable
<br />state or federal law to pro hibil such disclosure, including but not limited to any right of privacy.
<br />Section 17.2. x )Pl sRATION. Borrower, any Guarantor and any Indemnitor agree to cooperate with Lender in
<br />connection with any ire; :,fcr made pursuant to this Section, including, without limitation, the delivery of' an estoppel
<br />certificate required in accordance with Subsection 7.4(c) and such other documents as may be reasonably requested by
<br />Lender. Borrower shall ai.tio furnish and Borrower, any Guarantor and any Indemnitor consent to Lender furnishing to
<br />such Investors OF such i,. ()spective Investors or a Rating Agency any and all information concerning the Property, the
<br />Leases, the financial coii,.iitinn of Borrower, any Guarantor and any Indemnitor as may be requested by Lender, any
<br />Investor or any prospcctive. Investor or any Rating Agency in connection with any sale, transfer or Participations or
<br />Securities.
<br />Section 17.3. k i .'SF.R VES /ESCROWS. In the event that Securities are issued in connection with the Loan, all
<br />funds held by l.cncler in .-,crow or pursuant to reserves in accordance with this Security Instrument or the Other Security
<br />DOCLInC.nts shLill he �.Ich���;itccl in eligible accounts at eligible institutions as then defined and required by the Rating
<br />Agencies.
<br />ARTICLE 18. - COSTS
<br />Section 18.1. N RI ORMANCE _AT BOI ROWER'S .EXPENSE. Borrower acknowledges and confirms that
<br />Lender shall impose .:ru in administrative processing and /or commitment fees in connection with (a) the extension,
<br />renewal, modihcation.:;n cndinent and termination of the Loan, (b) the release or substitution of collateral therefor, (c)
<br />obtaining certain consc i w;iivers and approvals wit ct to ttie Property, or (d) the review of any Lease or proposed
<br />
|