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Attachment C
<br />obligation of the Borrower hereunder, payable on demand and if not paid on demand with interest
<br />thereon at the default rate of interest payable under the Project Loan Documents.
<br />Section 5.09 Notice of Certain Events. The Borrower shall promptly advise the
<br />Governmental Lender, the Fiscal Agent, the Funding Lender Representative, the Servicer and
<br />during the Construction Phase, the Financial Monitor in writing of the occurrence of any Event of
<br />Default hereunder or any event which, with the passage of time or service of notice or both, would
<br />constitute an Event of Default, specifying the nature and period of existence of such event and the
<br />actions being taken or proposed to be taken with respect thereto.
<br />Section 5.10 Survival of Covenants. The provisions of Sections 2.04, 2.05, 4.02, 4.03,
<br />6.01 and 7.04 hereof shall survive the expiration or earlier termination of this Project Loan
<br />Agreement and, with regard to the Fiscal Agent, the resignation or removal of the Fiscal Agent.
<br />Section 5.11 Access to Project; Records. Subject to reasonable notice and the rights of
<br />tenants in lawful possession at the Project, the Governmental Lender, the Fiscal Agent, the
<br />Servicer, the Funding Lender Representative and durign the Construction Phase, the Financial
<br />Monitor, and the respective duly authorized agents of each, shall have the right (but not any duty
<br />or obligation) at all reasonable times and during normal business hours: (a) to enter the Project and
<br />any other location containing the records relating to the Borrower, the Project, the Loans and the
<br />BorrowerÓs compliance with the terms and conditions of the Financing Documents; (b) to inspect
<br />and audit any and all of the BorrowerÓs records or accounts pertaining to the Borrower, the Project,
<br />the Loans and the BorrowerÓs compliance with the terms and conditions of the Financing
<br />Documents; and (c) to require the Borrower, at the BorrowerÓs sole expense, (i) to furnish such
<br />documents to the Governmental Lender, the Fiscal Agent, the Servicer, the Funding Lender
<br />Representative and during the Constrcution Phase, the Financial Monitor, as the Governmental
<br />Lender, the Fiscal Agent, the Servicer, the Funding Lender Representative or the Financial
<br />Monitor, as the case may be, from time to time, deems reasonably necessary in order to determine
<br />that the provisions of the Financing Documents have been complied with and (ii) to make copies
<br />of any records that the Governmental Lender, the Fiscal Agent, the Servicer, the Funding Lender
<br />Representative or the Financial Monitor or the respective duly authorized agents of each, may
<br />reasonably require; provided that notwithstanding the foregoing, no prior notice shall be required
<br />during any period in whch an Event of Default (however denominated) exists. The Borrower shall
<br />make available to the Governmental Lender, the Fiscal Agent, the Servicer, the Funding Lender
<br />Representative and the Financial Monitor, such information concerning the Project, the Security
<br />Instrument and the Financing Documents as any of them may reasonably request.
<br />Section 5.12 Tax Regulatory Agreement. The covenants of the Borrower in the Tax
<br />Regulatory Agreement shall be deemed to constitute covenants of the Borrower running with the
<br />Land and the Easement and an equitable servitude for the benefit of the Governmental Lender and
<br />the Funding Lender and shall be binding upon any owners of the Project until such time as such
<br />restrictions expire as provided in the Tax Regulatory Agreement. The Borrower covenants to file
<br />of record the Tax Regulatory Agreement and such other documents, and to take such other steps
<br />as are necessary in order to assure that the restrictions contained in the Tax Regulatory Agreement
<br />will, subject to the terms of the Tax Regulatory Agreement, be binding upon all owners of the
<br />Project. The Borrower covenants to include such restrictions or a reference to such restrictions in
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