|
5
<br />of state and local building codes and regulations, and all applicable statutes and regulations
<br />relating to accessibility for the disabled.
<br />4.5 INSURANCE. Borrower shall maintain and keep in force at Borrower’s expense,
<br />insurance coverage with respect to the Propertyin accordance with the requirements set forth in
<br />Exhibit Dattached hereto and incorporated herein.
<br />4.6 FACILITIES. Borrower shall keep the Property and any improvementsthereon,
<br />and the personal property used in Borrower’s operations,in good repair and condition, and from
<br />time to time make necessary repairs, renewals and replacements thereto so that the Property and
<br />improvements shall be preserved and maintained.
<br />4.7 INDEMNIFICATION. Borrower shall indemnify, defend (with counsel approved
<br />byLender), and hold harmless Lender and its officers, agents, employees, consultants and
<br />contractors (collectively,the Indemnitees"), from and against, and shall pay on demand, any and
<br />all losses, liabilities, damages, costs, claims, demands, penalties, deficiencies, fines, orders,
<br />judgments, actions, suits, judicial or administrative proceedings,injunctive or other relief,
<br />expenses and charges (including attorneys’ fees and court costs) (collectively “Claims”) arising
<br />directly or indirectly in any manner in connection with or as a result of (a) any breach of
<br />Borrower’s covenants under the Loan Documents, (b) any failure of Borrower’s representations
<br />and warranties to be true and correct in all material respects when made, (c) injury or death to
<br />persons or damage to property or other loss occurring on the Property, whether caused by the
<br />negligence or any other act or omission of Borrower or any other person or by negligent, faulty,
<br />inadequate or defective design, building, construction or maintenance or any other condition or
<br />otherwise, or (d) any claim, demand or cause of action, or any action or other proceeding,
<br />whether meritorious or not, brought or asserted against any Indemnitee which relates to or arises
<br />out of the Property, the improvements thereon,the Loan, the Loan Documents, or any transaction
<br />contemplated thereby, or any failure of Borrower to comply with all applicable state, federal and
<br />local laws and regulations in connection with the Property, provided that no Indemnitee shall be
<br />entitled to indemnification under this Section for matters caused by such Indemnitee's gross
<br />negligence orwillfulmisconduct. The obligations of Borrower under this Section shall survive
<br />the expiration or termination of this Agreementand the making and repayment of the Loan.
<br />4.8 TAXES AND OTHER LIABILITIES. Borrower shall pay and discharge when
<br />due any and all indebtedness, obligations, assessments, taxes, including federal and state payroll
<br />and income taxes which are the obligations of Borrower in relation to the Propertyexcept those
<br />that Borrower may in good faith contest or as to which a bona fide dispute may arise, provided
<br />provision is made to the satisfaction of Lenderfor eventual payment thereof in the event that it is
<br />found that the same is an obligation of Borrower.
<br />ARTICLE V
<br />EVENTS OF DEFAULT
|