Common use of Books and Records; Financial Statements; Tax Returns Clause in Contracts

Books and Records; Financial Statements; Tax Returns. Borrower will keep and maintain full and accurate books and records administered in accordance with sound accounting principles, consistently applied, showing in detail the earnings and expenses of the Properties and Borrower shall permit Lender and Lender’s representatives, to examine such books and records (regardless of where maintained) and all supporting data and to make copies therefrom at all reasonable times upon reasonable notice and as often as may be requested by Lender. Borrower will furnish to Lender company prepared financial statements within thirty (30) days after each quarter end. In addition, Borrower will furnish to Lender annual CPA audited financial statements, together with operating statements for the Properties, to include an updated rent roll, a copy of the filed income tax return for Borrower each year during the term of the Loan (within ten (10) days of filing) and such other financial statements and information as Lender may reasonably request from time to time. All financial statements shall be in form satisfactory to Lender and shall be due on May 1 of each year until the Obligations have been paid in full.

Books and Records; Financial Statements; Tax Returns. Borrower will keep and maintain full and accurate books and records administered in accordance with sound accounting principles, consistently applied, showing in detail the earnings and expenses of the Properties and Borrower shall permit Lender and Lender’s representatives, to examine such books and records (regardless of where maintained) and all supporting data and to make copies therefrom at all reasonable times upon reasonable notice and as often as may be requested by Lender. , Borrower will furnish to Lender company prepared financial statements within thirty (30) days after each quarter end. In addition, Borrower will furnish to Lender annual CPA audited financial statements, together with operating statements for the Properties, to include an updated rent roll, a copy of the filed income tax return for Borrower each year during the term of the Loan (within ten (10) days of filing) and such other financial statements and information as Lender may reasonably request from time to time. All financial statements shall be in form satisfactory to Lender and shall be due on May 1 of each year until the Obligations have been paid in full.