10C Action 2011 0207 - Laserfiche WebLink

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(2) recover from Borrower and its general partners compensatory damages as well as other costs and expenses incurred by Agency (including without limitation attorney's fees and expenses) arising as a result of the occurrence of any of the following: (a) any fraud or material misrepresentation on the part of the Borrower, any general partner thereof, or any officer, director or authorized representative of Borrower or any general partner thereof in connection with the request for or creation of the Agency Loan, or in any Agency Document, or in connection with any request for any action or consent by Agency in connection with the Loan; (b) any failure to maintain insurance on the Property and the Project as required pursuant to the Agency Documents; (c) failure to pay taxes, assessments or other charges which may become hens on the Property or the Project; (d) the presence of hazardous or toxic material or waste on the Property or other violation of the Borrower's obligations under Section 7.11 of the Deed of Trust (pertaining to environmental matters); (e) the occurrence of any act or omission of Borrower that results in waste to or of the Project or the Property and which has a material adverse effect on the value of the Project or the Property; (f) the material misapplication of the Loan Proceeds; (g) the removal or disposal of any personal property or fixtures or the retention of rents, insurance proceeds, or condemnation awards in violation of the Deed of Trust; and (h) the material misapplication of the proceeds of any insurance policy or award resulting from condemnation or the exercise of the power of eminent domain or by reason of damage, loss or destruction to any portion of the Project or the Property. SIGNATURES ON FOLLOWING PAGE 1582083.1 6