Reso 1998-012 - Laserfiche WebLink

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SECTION 4.04 FINANCIAL STATEMENTS Furnish LENDER, so long as amounts remain due under the PROMISSORY NOTE: (a) Not later than 90 days after and as of the end of each fiscal year financial statements of BORROWER prepared in accordance with generally accepted accounting principles consistently applied, to include Income and Expense Statement, Balance Sheet, and Statement of Changes in Financial Condition. (b) From time to time such other information as LENDER may reasonably request. SECTION 4.05 CONVENTIONAL FINANCING Obtain conventional financing, for which LENDER has determined BORROWER is qualified and has been offered by a private lender to BORROWER, to immediately retire all or a portion of BORROWER's indebtedness to the SMALL BUSINESS LOAN FUND of the CITY OF SAN LEANDRO. SECTION 4.06 )OB INFORMATION Furnish LENDER, so long as amounts remain due under the PROMISSORY NOTE, job hiring information required according to the terms the EMPLOYMENT AGREEMENT. SECTION 4.07 EXISTENCE Preserve and maintain its existence and all of its rights, privileges and franchises; conduct its business in an orderly, efficient, and regular manner; and comply with all applicable laws, rules, regulations and orders of a governmental authority. SECTION 4.08 INSURANCE Maintain and keep in force insurance of the types and in amounts customarily carried in lines of business similar to BORROWER's, including but not limited to fire, public liability, property damage, workmen's compensation, carried in companies and in amounts at least equal to the unpaid balance of the PROMISSORY NOTE satisfactory to LENDER with the CITY OF SAN LEANDRO named as "Loss Payee" and "Additional Insured"; and BORROWER shall deliver to LENDER from time to time at LENDER's request schedules or certificates of insurance setting forth all business insurance then in effect. SECTION 4.09 CERTIFICATE OF INSURANCE To file with LENDER within 30 days of the execution of this AGREEMENT, a certificate of insurance and an endorsement which shall provide that no cancellation, major change in coverage or expiration will be made during the term of this Agreement, without 30 days written notice to the LENDER prior to the effective date of such cancellation, or change in coverage. SECTION 4.10 FACILITIES Keep all BORROWER's properties useful or necessary to BORROWER's business in good repair and condition, and from time to time make necessary repairs, renewals and replacements thereto so that BORROWER's property shall be fully and efficiently preserved and maintained. Loan Agreement Page 5 of 11