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<br /> 4.6 FACILITIES. Borrower shall keep the Property and any improvements
<br />thereon, and the personal property used in Borrower’s operations, in good repair and
<br />condition, and from time to time make necessary repairs, renewals, and replacements
<br />thereto so that the Property and improvements shall be preserved and maintained.
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<br />4.7 INDEMNIFICATION. Borrower shall indemnify, defend (with counsel
<br />approved by Lender), and hold harmless Lender and its elected officials, officers,
<br />agents, and employees, consultants, and contractors (collectively, the “Indemnitees"),
<br />from and against, and shall pay on demand, any and all losses, liabilities, damages,
<br />costs, claims, demands, penalties, fines, orders, judgments, actions, suits, judicial or
<br />administrative proceedings, injunctive or other relief, expenses and charges (including
<br />attorneys’ fees and court costs) (collectively “Claims”) arising directly or indirectly in
<br />any manner in connection with or as a result of (a) any breach of Borrower’s covenants
<br />under the Loan Documents, (b) any failure of Borrower’s representations and warranties
<br />to be true and correct in all material respects when made, (c) injury or death to persons
<br />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,
<br />faulty, inadequate or defective design, building, construction, maintenance or any other
<br />condition or otherwise, or (d) any claim, demand or cause of action, or any action or
<br />other proceeding, whether meritorious or not, brought or asserted against any
<br />Indemnitee which relates to or arises out of the Property, the improvements thereon, the
<br />Loan, the Loan Documents, or any transaction contemplated thereby, or any failure of
<br />Borrower to comply with all applicable state, federal, and local laws and regulations, in
<br />connection with the Property. The obligations of Borrower under this Section shall
<br />survive the expiration or termination of this Agreement and the making and repayment
<br />of the Loan.
<br />4.8 TAXES AND OTHER LIABILITIES. Borrower shall pay and discharge
<br />when due any and all indebtedness, obligations, assessments, taxes, including federal
<br />and state payroll and income taxes which are the obligations of Borrower in relation to
<br />the Property except those that Borrower may in good faith contest or as to which a bona
<br />fide dispute may arise, provided provision is made to the satisfaction of Lender for
<br />eventual payment thereof in the event that it is found that the same is an obligation of
<br />Borrower.
<br />ARTICLE V
<br />EVENTS OF DEFAULT
<br />The occurrence of any one or more of the following events shall constitute an
<br />event of default hereunder ("Event of Default"):
<br />(a) If Borrower fails to pay when due the principal and interest payable under
<br />the Note and such failure continues for ten (10) days after Lender notifies Borrower
<br />thereof in writing.
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