Agenda - Council - 12/12/2023 - Laserfiche WebLink

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through , 2023, shall be paid in advance to Lender in full on the effective date of the Note in the amount of$ PART 3. LOAN FEES AND CHARGES 3.1 Attorney fees, out-of-pocket costs, and documentation fees. Borrower shall, at the time of the execution of this Agreement, pay all out-of-pocket expenses incurred by Lender in connection with this Agreement and the credit accommodations contemplated herein, including but not limited to documentation fees, appraisal fees, filing fees, recording fees, lien search fees, flood insurance premiums, costs and fees associated with flood certificates, and fees and expenses of Lender's counsel. PART 4. LOAN SECURITY AND GUARANTY 4.1 Morti!as!e. The obligations of Borrower hereunder and under the Note shall be secured by a mortgage on the Property pursuant to the terms of a Mortgage, Security Agreement, and Fixture Financing Statement (the "Mortgage"). 4.2 Ownership and care of collateral. Other than as specifically provided in Section 4.1, Borrower covenants that this Agreement and any mortgage, security agreement, and/or control agreement taken in connection with this Agreement will vest in Lender a first priority mortgage lien or security interest upon the collateral named, subject to no prior liens. Borrower warrants it has good and marketable title to the collateral subject to no mortgage, security interest or lien except as reflected in the financial statements furnished to Lender in connection with this Agreement. Borrower further warrants it will keep all of the collateral in good working order and insured for at least the amount of indebtedness owed to Lender hereunder. 4.3 Documentation required to maintain valid first lien. Borrower covenants that upon request of Lender it will execute such mortgages,financing statements,control agreements, security agreements, lien documents, and other perfection and security instrumentation as will ensure that Lender creates and maintains a valid and perfected security interest and priority lien on all collateral. 4.4 Guaranties. Each Guarantor herein covenants that they guaranty payment of the loan accommodations referred to in this Agreement and any amendments hereto, and repayment of all advances made hereunder or in the future, together with interest and costs of collection, if any. Said guaranty is of payment and is a continuing, unconditional, and absolute guaranty. PART 5. DOCUMENTS FURNISHED PERIODICALLY BY BORROWER AND GUARANTORS AND INSPECTIONS ALLOWED BY BORROWER 5.1 Documents to be furnished periodically. At Borrower's cost and expense, Borrower and Guarantors will furnish to Lender the following documents at the times indicated throughout the term of this Agreement: Page 2 of 9 129662823v2