2025-09-01-R - Laserfiche WebLink

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ARTICLE IV AFFIRMATIVE COVENANTS The Borrower covenants and agrees that so long as this Agreement shall remain in effect or the Note shall not have been repaid in full,and unless the Lender shall otherwise consent in writing in advance: Section 4.1 Insurance.The Borrower shall maintain or cause to be maintained,in force, insurance with responsible insurers with policies or self-insurance with respect to its property, insuring against such casualties and contingencies of such types (including public liability insurance)and in such amounts as are customary in the case of persons engaged in the same or similar activity and similarly situated. Section 4.2 The Project. The Project is needed by the Borrower and will not result in an unnecessary duplication of existing facilities. The Project is consistent with the orderly development and provisions of services in the area in which the Borrower is located.The Borrower will proceed with due diligence to complete any improvements needed to place the Project into service. The Borrower will maintain the Project in good condition and make all necessary renewals,replacements,additions,betterments,and improvements thereof and thereto.In the event that Borrower sells or otherwise disposes of the Project, all amounts outstanding under this Agreement and the Note shall immediately be due and payable without presentment, demand, protest, notice or other formalities of any kind, all of which are hereby expressly waived by Borrower. Section 4.3 Information. The Borrower shall,at the reasonable request of the Lender, discuss the Borrower's financial matters with the Lender and provide the Lender with access to and copies of any documents(other than documents the confidentiality of which is protected by law or professional codes of ethics)reasonably requested by the Lender. Section 4.4 Payment of Indebtedness. The Borrower shall pay all of its Indebtedness and obligations promptly and in accordance with the terms thereof,as well as all lawful claims for labor,materials and supplies or otherwise which,if unpaid,might become a lien or charge upon such property,or any part thereof;provided,however,that the Borrower shall not be required to pay and discharge or to cause to be paid and discharged any such Indebtedness,obligation,so long as the validity thereof shall be contested in good faith by appropriate proceedings and adequate reserves therefore shall be set aside. Section 4.5 Financial Statements. The Borrower shall famish,or cause to be furnished, to the Lender,the following reports: (a) Within ninety(90)days after the end of each fiscal year of Borrower and within ninety(90)days after the repayment in full of the Loan,a statement,signed by an authorized officer of the Borrower(i)describing the use of the Loan proceeds during the preceding year,(ii) evaluating the progress of Borrower toward achieving the purposes of the Loan described in Section 1.3 and the contribution of the Loan thereto,and(iii)certifying that all of the requirements set forth in this Agreement were met in all material respects,including,without limitation,those requirements related to maintaining the status of the Loan as a Program Related Investment;and 7