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(2) the occurrence of any Event of Default tinder this Agreement or under any other
<br />loan agreement, debenture, note, purchase agreement or any other agreement providing for the
<br />borrowing of money by the Borrower or any event of which the Borrower has knowledge and
<br />which, with the passage of time or giving of notice, or both,, would constitute an Event, of Default
<br />under this Agreement or Linder such other agreernentsi 1,1
<br />(3) any future event that would cause the representations and warranties contained in
<br />this Agreement to be untrue when applied to the Borrower's circumstances as of'the date of such
<br />event; and
<br />(4) any material adverse change in the operations,,, business, properties, assets or
<br />conditions, financial or otherwise, of the Borrower.
<br />Section 4.9 Additional Covenants. In addition to the covenants and agreements, of the
<br />Borrower set forth herein and contained in the Mortgage and the document s related hereto, the
<br />Borrower hereby covenants and agrees, so long as the Note remains unpaid, as follows,:
<br />(1) That all advances under the Note shall be used Solely to pay or reimburse the
<br />Borrower for payment of Project Costs,
<br />(2) The Project shall comply with all applicable restri cti oils, conditions, ordinances,
<br />the
<br />regulations and laws of governmental department agencies having Jurisdiction over t I ne
<br />Project, and shall not violate any private restrictions or covenants or encroach upon or 'Interfere
<br />with easements affecting the Land;
<br />!P
<br />(3) To keep, perform, enforce and maintain in full force and effect all of the terms,
<br />covenants conditions and requirements of thi's Loan Agreement,
<br />� iithie Note, the Mortgage and the
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<br />Security Agreement; and,, not to amend, modify, supplement., terminate, cancel or waive any of
<br />the terms, covenants, conditions or requirements of any of said documents without the prior
<br />written consent of the Lender;
<br />ri
<br />(4) Not to create, permit to be created or to allow to exist, liens, charges or
<br />encumbrances on the Land (other than "Permitted Encumbrances" as defined in the Mortgage)
<br />and the lien of general real estate taxes and the installments of special assessments payable
<br />therewith, except for such liens, charges and encumbrances which, are being diligently contested
<br />in good faith by appropriate proceedings and provided that, if requested by the Lender, the
<br />Borrower shall have provided to the Lender security satisfactory to the Lender as set forth in
<br />Section 1.03 of the Mortgage;
<br />(5) To obtain and maintain., or cause to be obtained and maintained,, at all times
<br />during the process of constructing and installing the Improvements, and at all times thereafter
<br />during the term of the Loan, if applicable (and, from time to ti-me at the request of the Lender,
<br />furnish the Lender with proof of payment of premiums on):
<br />(a) Comprehensive General Public Liabili Insurance, providing. for limits of
<br />coverage of not less than $2,000,000.0052,000,0100.00 and naming the Lender as an additional
<br />named insured, as its interest may appear.
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