14-20 Cedar Glen Bond Ordinance Addendums

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management recommendations and certificates of no default under this Agreement, all in form and detail satisfactory to MBI. Borrower shall deliver to MBI at the same time as the delivery of any annual, quarterly or monthly financial statement required hereunder (i)a description in reasonable detail of any material variation between the application of accounting principles employed in the preparation of such statement and the application of accounting principles employed in the preparation of the immediately preceding annual, quarterly or monthly financial statements and (ii)reasonable estimates of the difference between such statements arising as a consequence thereof. (h) Borrower will furnish, or cause to be furnished, to MBI, at Borrower's expense, the following financial statements and other information relating to Co-Maker: (i) As soon as available and in any event within ninety (90) days following the end of each calendar year, a current annual financial statement for Co-Maker on 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 one hundred twenty (120) days following the end of each calendar year, a copy of the federal income tax return for Co-Maker 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) If at any time the financial statement for Co-Maker on file with MBI is more than twelve months old, within thirty (30) days of receiving a request from MBI, a current financial statement for Co-Maker on such form and in such detail as MBI may require; (iv) As soon as available and in any event within ninety (90) days following the end of each calendar year, a cash flow analysis for Co-Maker for the calendar year then ended on such form and in such detail as MBI may require; and (v) From time to time at such times as MBI may require, such further information regarding the business affairs and financial conditions of Co-Maker as MBI may require, all in form and detail satisfactory to MBI. (i) Borrower will permit any authorized representative of MBI and its attorneys and accountants to inspect,examine and make copies and extracts of the books of account and records of Borrower at reasonable times during normal business hours. (j) Borrower will permit any authorized representative of MBI, including but not limited to its attorneys and inspectors, to enter upon and inspect and examine the Project at reasonable times during normal business hours. (k) Borrower will promptly correct or cause any applicable contractor to correct any defects in the Improvements or any departure from the Plans and Specifications not previously approved by MBI; Borrower agrees that the making of an advancement of the Loan shall not constitute a waiver of MBI's right to require compliance with this covenant. Page 44