14-20 Cedar Glen Bond Ordinance Addendums

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(d) Borrower will promptly pay and discharge all taxes, assessments and governmental charges which may be lawfully levied, assessed or imposed upon it or its properties, or upon its income or profits, and all lawful claims for labor, material and services which, if unpaid, might become a lien or charge against any of the Project; provided, however, that Borrower shall have the right to contest in good faith any such tax, assessment, charge, levy or claim by appropriate proceedings without the prior payment thereof unless payment is required to contest. (e) Borrower will keep and safeguard accurate and complete books and records, and maintain the same,together with all valuable papers and records at Borrower's principal offices. (f) Borrower will defend, or cause to be defended, at all times any adverse claim by a third party relating to the possession of or any interest in the assets of Borrower. (g) Borrower will furnish, or cause to be furnished, to MBI, at Borrower's expense, the following financial statements and other information of Borrower: (i) As soon as available and in any event within ninety (90) days following the end of each calendar year, (i) the balance sheet and annual statements of income and surplus accounts for Borrower as of and for the calendar year then ended, all in reasonable detail, prepared in accordance with generally accepted accounting principles applied on a consistent basis throughout the periods involved and audited, if requested by MBI after an occurrence of an Event of Default, by an independent certified public accountant which shall furnish to MBI a standard unqualified opinion regarding such financial statements, (ii) a cash flow analysis for Borrower for the calendar year then ended in such form and in such detail as MBI may require, and(iii) a current rent roll for the Project in such form and in such detail as MBI may require; (ii) As soon as available and in any event within thirty (30) days from filing and in no event later than ninety (90) days following the end of each calendar year, a copy of the federal income tax return for Borrower for the calendar year then ended unless an extension is filed with the Internal Revenue Service (evidence of such extension to be promptly provided to MBI), and then within thirty (30) days of the extension date,but in no event later than October 15 of each calendar year; (iii) Commencing upon the completion of the construction or rehabilitation of the Improvements and continuing thereafter, within thirty (30) days following the end of each calendar quarter, (i) the balance sheet and quarterly statements of income and surplus accounts for Borrower as of and for the calendar quarter then ended, all in reasonable detail, prepared in accordance with generally accepted accounting principles applied on a consistent basis throughout the periods involved, and (ii) a current rent roll for the Project in such form and in such detail as MBI may require; (iv) If at any time the financial statements for Borrower on file with MBI are more than twelve months old, within thirty (30) days of receiving a request from MBI, current financial statements for Borrower on such form and in such detail as MBI may require; and (v) From time to time at such times as MBI may reasonably require, such further information regarding the business affairs and financial conditions of Borrower as MBI may require, including but not limited to, a certified rent roll, accounting and Page 43