14-20 Cedar Glen Bond Ordinance Addendums

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rehabilitation of the Improvements and the development of the Project in an amount equal to the statutory limit in the State where the Project are located, and (iii) Architects & Engineers Professional Liability insurance covering errors and/or omissions in the performance of professional services in conjunction with the Project in amounts satisfactory to MBI, with coverage continuing for a five-year discovery period after acceptance in which claims can be made. (s) Borrower will maintain at all times Borrower's existence in good standing under the laws of the State of Indiana, and shall(1)retain its name as set forth on page 1 hereof, and(2) maintain its existence in good standing in each state in which it conducts business. (t) Borrower will cause the construction or rehabilitation of the Improvements to commence on or before the Termination Date and to continue without stoppage or delay in excess of ten(10)Business Days, except for delays beyond the reasonable control of Borrower, until the construction or rehabilitation of Improvements has been completed in accordance with the Plans and Specifications,as approved by MBI. (u) [This paragraph is intentionally left blank]. (v) [This paragraph is intentionally left blank]. (w) Borrower will cause all of the construction contracts for the Improvements to contain fixed-prices. (x) Borrower will notify MBI,upon MBI's request at any time and from time to time, of all sites at which Borrower is conducting business or at which inventory, equipment or other assets of Borrower are located. (y) Borrower will provide to MBI, promptly upon its execution, a copy of each contract executed by Borrower that is material to the operation of Borrower's businesses, and give prompt written notice to MBI of any act of default by Borrower under any existing or future contract, which default could have a material adverse effect on the financial condition or business operations of Borrower, or any acceleration of any indebtedness caused thereby. (z) [This paragraph is intentionally left blank]. (aa) [This paragraph is intentionally left blank]. (bb) Borrower will comply with all applicable federal, state and local statutes, regulations and ordinances. (cc) Borrower will from time to time upon the request of MBI, furnish to MBI information regarding arrangements between Borrower and its suppliers and further assurances that Borrower has the financial and operational ability and capacity, to perform its obligations hereunder. (dd) Borrower will indemnify and hold MBI harmless from and against any and all claims, losses, damages, setoffs, counterclaims or expenses (including attorneys' fees and costs) which MBI may sustain as a result of the transactions evidenced by this Agreement or because of the breach of or inaccuracy in any of the representations and warranties contained in this Agreement or in any other document executed by Borrower in connection herewith or in any other written communication of Borrower to MBI in connection with the transactions secured Page 48