Common use of Books, Records and Financial Statements Clause in Contracts

Books, Records and Financial Statements. Manager shall keep or cause to be kept full and complete books and records of account, which shall accurately and completely reflect each transaction of the Company. All such books and records and all leases and contracts and agreements to which the Company is a party shall at all times to be kept and maintained at the office of the Property Manager. The books and records of the Company shall be open to inspection and examination by the Members and their representatives, upon reasonable notice, during regular business hours. Manager shall cause the Company’s books and records to be closed reasonably promptly after the end of each Fiscal Year. Manager shall require that the Accountants prepare and submit to the Company and Aetna (a) not later than one hundred-twenty (120) days after the end of such Fiscal Year, annual audited financial statements for the Company, which statements shall include a statement of profits and losses for such Fiscal Year, a balance sheet as of the last day of such Fiscal Year, a cash flow statement for such Fiscal Year and a statement of each Member’s Capital Account, (b) not later than the tenth (10th) day after receipt by Manager, bank statements for the Company for such month; (c) internally prepared quarterly financial statements in a form reasonably approved by Aetna and to be sent not later than thirty (30) days following each quarterly period and (d) on or before the ninetieth (90) day after the end of each Fiscal Year, copies of the Company’s tax return, and such other information respecting the Company (including Form K-1 and a form 1065) as may be required to enable each Member to complete properly its federal income tax return and any income tax return of any State and any other reporting or filing requirement imposed by any governmental authority. The costs and expenses of such statements and preparation of tax returns shall be borne by the Company. The actual filing of all tax returns shall be timely made on behalf of the Company by Manager. The determination of whether the Company should make available elections for tax purposes shall be made by Manager, subject in all respects to the prior reasonable approval of Aetna.

Books, Records and Financial Statements. Manager shall (a) Borrower will keep or cause to be kept full and complete books and records of account, which shall accurately account in accordance with generally accepted accounting principles consistently applied covering and completely reflect each transaction of the Company. All such books and records and all leases and contracts and agreements relating to which the Company is a party shall at all times to be kept and maintained at the office of the Property Manager. The books and records of the Company shall be open to inspection and examination by the Members and their representatives, will upon prior reasonable prior notice, during regular business hours. Manager shall cause permit Lender or Lender’s agents, accountants and attorneys to inspect the CompanyProperty and examine Borrower’s books and records to be closed reasonably promptly after the end of each Fiscal Year. Manager shall require that the Accountants prepare and submit as they relate to the Company Property, at such reasonable times as may be requested by Lender. (b) The individual Guarantor shall deliver to Lender, an annual statement of financial condition annually with the delivery of his tax returns, or as required by bank policy of Lender, in form and Aetna content satisfactory to Lender in its sole discretion. The Corporate Guarantor shall deliver to Lender annual audited financial statements throughout the term of the Loan, within seventy-five (a) not later than one hundred-twenty (12075) days after the end of each fiscal year. In addition, such Fiscal Yearother financial information relating to the Borrower and each Guarantor, annual audited as Lender may reasonably require during the term of the Loan, shall be submitted upon request. All financial statements for the Companyshall be in such form and contain such content as shall be approved by lender, which statements shall include a statement of profits in its sole and losses for such Fiscal Year, a balance sheet as of the last day of such Fiscal Year, a cash flow statement for such Fiscal Year and a statement of each Member’s Capital Account, (b) not later than the tenth (10th) day after receipt by Manager, bank statements for the Company for such month; absolute discretion. (c) internally prepared quarterly financial statements in Borrower and each Guarantor shall deliver to Lender, within fifteen (15) days of the timely filing of the same, complete copies of federal and state tax returns, as applicable, of Borrower and each Guarantor, together with all schedules and attachments thereto, including, without limitation, K-1 Schedules; provided, however if an extension is filed by Borrower or any Guarantor, Borrower and/or such Guarantor shall provide to Lender a form reasonably approved by Aetna and to be sent not later than copy of such extension within thirty (30) days following of the due date of the tax return and the applicable tax return must be submitted to Lender no later than within fifteen (15) days of the extension due date and in any event no later than July 31 of each quarterly period year for the Borrower and the Corporate Guarantor and no later than October 30 of each year for the individual Guarantor. (d) Borrower shall submit to Lender financial statements of income and expenses accurately setting forth the operations of each Property on or before the ninetieth an annual basis (90to be furnished within thirty (30) day days after the end of each Fiscal Yearfiscal year). Borrower will also submit to Lender, copies on an annual basis (within thirty (30) days after the end of the Company’s tax returneach fiscal year), and such rent schedules showing among other information respecting the Company (including Form K-1 and a form 1065) items as may be required to enable each Member to complete properly its federal income tax return by Lender, occupied tenant space, lease expiration dates, pre-paid rents, security deposits, rents, vacant space and any income tax return of any State and any other reporting or filing requirement imposed by any governmental authority. The costs and expenses of such statements and preparation of tax returns shall be borne by the Company. The actual filing of all tax returns shall be timely made on behalf of the Company by Manager. The determination of whether the Company should make available elections for tax purposes shall be made by Manager, subject in all respects proposed rents; and (e) In addition to the prior reasonable approval above, Borrower shall submit to Lender, upon request, such other financial information relating to Borrower and/or Guarantor as Lender may require during the term of Aetnathis Mortgage.

Books, Records and Financial Statements. Manager shall (a) Borrower will keep or cause to be kept full and complete books and records of accountaccount in accordance with generally accepted accounting principles consistently applied covering and relating to the Property and will upon prior reasonable prior notice, which shall accurately permit Lender or Lendxx’x xgents, accountants and completely reflect each transaction of attorneys to inspect the Company. All such books Property and examine Borrxxxx’x xooks and records as they relate to the Property, at such reasonable times as may be requested by Lendxx. (b) The Individual Guarantor shall deliver to Lender, an annual statement of financial condition annually with the delivery of his tax returns, or as required by bank policy of Lender, in form and all leases and contracts and agreements content satisfactory to which the Company is a party shall at all times to be kept and maintained at the office of the Property ManagerLender in its sole discretion. The books Corporate Guarantor shall deliver to Lender annual audited financial statements as filed with the Securities and records of Exchange Commission (the Company shall be open to inspection “SEC”), on Form 10-K and examination by the Members and their representatives, upon reasonable notice, during regular business hours. Manager shall cause the Company’s books and records to be closed reasonably promptly after the end of each Fiscal Year. Manager shall require that the Accountants prepare and submit to the Company and Aetna Form 10-Q within seventy-five (a) not later than one hundred-twenty (12075) days after the end of each fiscal year. Compliance with the financial covenants of the Borrower and Guarantor set forth herein shall be determined based upon the information contained in the 10-K and 10-Q filings of the Corporate Guarantor. In addition, such Fiscal Yearother financial information relating to the Borrower and each Guarantor, annual audited as Lender may reasonably require during the term of the Loan, shall be submitted upon request. All financial statements for the Companyshall be in such form and contain such content as shall be approved by Lender, which statements shall include a statement of profits in its sole and losses for such Fiscal Year, a balance sheet as of the last day of such Fiscal Year, a cash flow statement for such Fiscal Year and a statement of each Member’s Capital Account, (b) not later than the tenth (10th) day after receipt by Manager, bank statements for the Company for such month; absolute discretion. (c) internally prepared quarterly financial statements in Borrower and each Guarantor shall deliver to Lender, within fifteen (15) days of the timely filing of the same, complete copies of federal and state tax returns, as applicable, of Borrower and each Guarantor, together with all schedules and attachments thereto, including, without limitation, K-1 Schedules; provided, however if an extension is filed by Borrower or any Guarantor, Borrower and/or such Guarantor shall provide to Lender a form reasonably approved by Aetna and to be sent not later than copy of such extension within thirty (30) days following of the due date of the tax return and the applicable tax return must be submitted to Lender no later than within fifteen (15) days of the extension due date and in any event no later than July 31 of each quarterly period year for the Borrower and the Corporate Guarantor and no later than October 30 of each year for the individual Guarantor. (d) Borrower shall submit to Lender financial statements of income and expenses accurately setting forth the operations of each Property on or before the ninetieth an annual basis (90to be furnished within thirty (30) day days after the end of each Fiscal Yearfiscal year). Borrower will also submit to Lender, copies on an annual basis (within thirty (30) days after the end of the Company’s tax returneach fiscal year), and such rent schedules showing among other information respecting the Company (including Form K-1 and a form 1065) items as may be required to enable each Member to complete properly its federal income tax return by Lendxx, xxcupied tenant space, lease expiration dates, pre-paid rents, security deposits, rents, vacant space and any income tax return of any State and any other reporting or filing requirement imposed by any governmental authority. The costs and expenses of such statements and preparation of tax returns shall be borne by the Company. The actual filing of all tax returns shall be timely made on behalf of the Company by Manager. The determination of whether the Company should make available elections for tax purposes shall be made by Manager, subject in all respects proposed rents; and (e) In addition to the prior reasonable approval above, Borrower shall submit to Lender, upon request, such other financial information relating to Borrower and/or Guarantor as Lender may require during the term of Aetnathis Mortgage.

Books, Records and Financial Statements. Manager shall Mortgagor covenants and agrees with Mortgagee, as long as any amount secured hereby remains unpaid, at Mortgagor’s sole cost and expense, to (a) at all times keep or cause proper and accurate records and books of account in which full, true and correct entries will be made of all transactions affecting the Mortgaged Property in accordance with generally accepted accounting principles applied on a consistent basis throughout the periods involved; (b) at all reasonable times permit Mortgagee and its representatives to be kept full and complete books and records of account, which shall accurately and completely reflect each transaction of the Company. All inspect such books and records and all leases to make copies thereof; and contracts (c) from time to time furnish Mortgagee with such information and statements as it may reasonably request concerning the business affairs, operations and financial status of Mortgagor and/or the Mortgaged Property and concerning performance by Mortgagor of the covenants and agreements contained in the Note, in this Mortgage and in the Loan Agreement. If Mortgagor fails to which the Company is a party shall at supply said information and statements, Mortgagee or its authorized representatives may have access to all times to be kept and maintained at the office of the Property Manager. The books and records of the Company shall be open to inspection and examination by the Members and their representatives, upon reasonable notice, during regular business hours. Manager shall cause the CompanyMortgagor’s books and records to be closed reasonably promptly after the end of each Fiscal Year. Manager shall require that the Accountants prepare and submit to the Company and Aetna (a) not later than one hundred-twenty (120) days after the end of such Fiscal Year, annual audited financial statements for the Companypurpose of auditing the same and/or itself obtaining such information, which statements shall include at Mortgagor’s expense. Mortgagee, by giving written notice to Mortgagor at any time when an event of default exists hereunder, may elect to have a statement person or firm of profits its choice make an examination of Mortgagor’s books and losses for records. Any such Fiscal Year, a balance sheet as of the last day of such Fiscal Year, a cash flow statement for such Fiscal Year and a statement of each Member’s Capital Account, (b) not later than the tenth (10th) day after receipt by Manager, bank statements for the Company for such month; (c) internally prepared quarterly financial statements in a form reasonably approved by Aetna and to be sent not later than thirty (30) days following each quarterly period and (d) on or before the ninetieth (90) day after the end of each Fiscal Year, copies of the Company’s tax return, and such other information respecting the Company (including Form K-1 and a form 1065) as may be required to enable each Member to complete properly its federal income tax return and any income tax return of any State and any other reporting or filing requirement imposed by any governmental authority. The costs and expenses of such statements and preparation of tax returns examination shall be borne by at Mortgagee’s sole cost and expense, unless said examination reveals significant errors or discrepancies in any financial information furnished to Mortgagee, in which event the Company. The actual filing of all tax returns examination shall be timely made on behalf at the sole cost and expense of the Company by Manager. The determination of whether the Company should make available elections for tax purposes shall be made by Manager, subject in all respects to the prior reasonable approval of AetnaMortgagor.

Books, Records and Financial Statements. Manager shall (a) Borrower will keep or cause to be kept full and complete books and records of account, which shall accurately account in accordance with generally accepted accounting principles consistently applied covering and completely reflect each transaction of the Company. All such books and records and all leases and contracts and agreements relating to which the Company is a party shall at all times to be kept and maintained at the office of the Property Manager. The books and records of the Company shall be open to inspection and examination by the Members and their representatives, will upon prior reasonable prior notice, during regular business hours. Manager shall cause permit Lender or Lender’s agents, accountants and attorneys to inspect the CompanyProperty and examine Borrower’s books and records to be closed reasonably promptly after the end of each Fiscal Year. Manager shall require that the Accountants prepare and submit as they relate to the Company Property, at such reasonable times as may be requested by Lender. (b) The individual Guarantor shall deliver to Lender, an annual statement of financial condition annually with the delivery of his tax returns, or as required by bank policy of Lender, in form and Aetna content satisfactory to Lender in its sole discretion. The Corporate Guarantor shall deliver to Lender annual audited financial statements throughout the term of the Loan, within seventy-five (a) not later than one hundred-twenty (12075) days after the end of each fiscal year. In addition, such Fiscal Yearother financial information relating to the Borrower and each Guarantor, annual audited as Lender may reasonably require during the term of the Loan, shall be submitted upon request. All financial statements for the Companyshall be in such form and contain such content as shall be approved by lender, which statements shall include a statement of profits in its sole and losses for such Fiscal Year, a balance sheet as of the last day of such Fiscal Year, a cash flow statement for such Fiscal Year and a statement of each Member’s Capital Account, (b) not later than the tenth (10th) day after receipt by Manager, bank statements for the Company for such month; absolute discretion. (c) internally prepared quarterly financial statements in Borrower and each Guarantor shall deliver to Lender, within fifteen (15) days of the timely filing of the same, complete copies of federal and state tax returns, as applicable, of Borrower and each Guarantor, together with all schedules and attachments thereto, including, without limitation, K-1 Schedules; provided, however if an extension is filed by Borrower or any Guarantor, Borrower and/or such Guarantor shall provide to Lender a form reasonably approved by Aetna and to be sent not later than copy of such extension within thirty (30) days following of the due date of the tax return and the applicable tax return must be submitted to Lender no later than within fifteen (15) days of the extension due date and in any event no later than October 15 of each quarterly period and year. (d) Borrower shall submit to Lender financial statements of income and expenses accurately setting forth the operations of each Property on or before the ninetieth an annual basis (90to be furnished within thirty (30) day days after the end of each Fiscal Yearfiscal year). Borrower will also submit to Lender, copies on an annual basis (within thirty (30) days after the end of the Company’s tax returneach fiscal year), and such rent schedules showing among other information respecting the Company (including Form K-1 and a form 1065) items as may be required to enable each Member to complete properly its federal income tax return by Lender, occupied tenant space, lease expiration dates, pre-paid rents, security deposits, rents, vacant space and any income tax return of any State and any other reporting or filing requirement imposed by any governmental authority. The costs and expenses of such statements and preparation of tax returns shall be borne by the Company. The actual filing of all tax returns shall be timely made on behalf of the Company by Manager. The determination of whether the Company should make available elections for tax purposes shall be made by Manager, subject in all respects proposed rents; and (e) In addition to the prior reasonable approval above, Borrower shall submit to Lender, upon request, such other financial information relating to Borrower and/or Guarantor as Lender may require during the term of Aetnathis Mortgage.

Books, Records and Financial Statements. Manager shall keep or cause to be kept full and complete books and records of account, which shall accurately and completely reflect each transaction of the Company. All such books and records and all leases and contracts and agreements to which the Company is a party shall at all times to be kept and maintained at the office of the Property Manager. The books and records of the Company shall be open to inspection and examination by the Members and their representatives, upon reasonable prior written notice, during regular business hours. Manager shall cause the Company’s books and records to be closed reasonably promptly after the end of each Fiscal Year. Manager shall require that the Accountants prepare and submit to the Company and Aetna (a) not later than one hundred-twenty (120) days after the end of such Fiscal Year, annual audited financial statements for the Company, which statements shall include a statement of profits and losses for such Fiscal Year, a balance sheet as of the last day of such Fiscal Year, a cash flow statement for such Fiscal Year and a statement of each Member’s Capital Account, (b) not later than the tenth (10th) day after receipt by Manager, bank statements for the Company for such month; (c) internally prepared quarterly financial statements in a form reasonably approved by Aetna and to be sent not later than thirty forty-five (3045) days following each quarterly period period, and (d) on or before the ninetieth (90) day after the end of each Fiscal Year, copies of the Company’s tax return, and such other information respecting the Company (including Form K-1 K-l and a form 1065) as may be required to enable each Member to complete properly its federal income tax return and any income tax return of any State and any other reporting or filing requirement imposed by any governmental authority. The costs and expenses of such statements and preparation of tax returns shall be borne by the Company. The actual filing of all tax returns shall be timely made on behalf of the Company by Manager. The determination of whether the Company should make available elections for tax purposes shall be made by Manager, subject in all respects to the prior reasonable approval of Aetna.