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<br />88- 104341 <br /> <br />1.8 Financial Statements. <br /> <br />1 <br /> <br />Within ninety (90) days of the end of each fiscal year of <br />Mortgagor, Mortgagor shall deliver to Mortgagee financial <br />statements of the Mortgagor certified by Mortgagor as correct and <br />done in accordance with generally accepted accounting principles <br />including a ~alance sheet and supporting schedules and a detailed <br />statement of income and expenditures and supporting schedules. <br />In addition, Mor,tgagor shall deliver to Mortgagee rent rolls <br />reflecting the rental status of the Mortgaged Property including <br />the names of tenants, spaces occupied expressed in square feet, <br />annual rental under each lease, amounts of any security deposits, <br />and the unexpired term thereof, such statements to be certified <br />to by an authorized officer of Mortgagor. Mortgagor will <br />maintain full and complete books of account and other re'cords <br />reflecting the results of operations of the Mortgaged Property in <br />accordance with generally accepted accounting principles and <br />Mortgagee shall have the right at all reasonable times to inspect <br />and copy the same upon five (5) days prior written notice. <br /> <br />1.9 Assignment of Rents. <br /> <br />Mortgagor hereby bargains, sells, assigns and sets over to <br />Mortgagee all rents, issues and profits of the Mortgaged <br />Property, which whether before or after foreclosure or during the <br />period of redemption, shall accrue and be owing for the use and <br />occupation of the Mortgaged Property or of any part thereof <br />according to the terms of an Assignment of Leases and Rents of <br />even date herewith between Mortgagor and Mortgagee, which is <br />hereby incorporated herein by reference. <br /> <br />1.10 Condemnation. <br /> <br />Mortgagor will give the mortgagee prompt notice of any <br />action, actual or threatened, in condemnation or eminent domain <br />and hereby, assigns, transfers, and sets over to the Mortgagee the <br />entire proceeds of any award or claim for damages to the extent <br />that they exceed Ten Thousand Dollars ($10,000.00) for all or any <br />part of the Mortgaged Property taken or damaged under the power <br />of eminent domain or condemnation, the Mortgagee being hereby <br />authorized to intervene in any such action and if the Mortgagor <br />fails to participate, to do so in the name of the Mortgagor and <br />. in all events to collect and receive from the condemning <br />authorities and give proper receipts and acquittances for such <br />proceeds. Any expenses reasonably incurred by the Mortgagee in <br />intervening in such action or collection of such proceeds shall <br />be reimbursed to the Mortgagee first out of the proceeds. The <br />proceeds or any part thereof shall be applied upon or in <br />reduction of the Indebtedness secured hereby whether then due or <br />not. <br /> <br />-8- <br />