Common use of Completion of Project Clause in Contracts

Completion of Project. Enter upon and take possession of the Premises and all material, equipment and supplies thereon and do anything necessary or desirable to complete the construction of the Improvements and to fulfill the obligations of Borrower hereunder and to sell, manage, maintain, repair and protect the Project. Without restricting the generality of the foregoing and for the purposes aforesaid, Borrower hereby appoints and constitutes Lender its lawful attorney-in-fact with full power of substitution: (i) to pay, settle or compromise all existing bills and claims which may be liens or security interests against the Premises or any fixtures or equipment thereon, or as may be necessary or desirable for the clearance of title or otherwise; (ii) to use any funds of Borrower, including any Loan balance which might not have been disbursed for the purpose of completing construction of the Improvements; (iii) to execute all applications and certificates in the name of Borrower which may be required to carry out the intent and purpose hereof; (iv) to employ such contractors, subcontractors, architects and others as Lender may deem appropriate; (v) to do any and every act which Borrower might do on its own behalf, including, without limitation, to enter into leases of any portion of the Premises; and (vi) to prosecute or defend any and all actions or proceedings involving the Premises or any fixtures, equipment or other installations thereon; it being understood and agreed that this power of attorney is coupled with an interest and cannot be revoked. Lender and its designees, representatives, agents, licensees and contractors shall be entitled to the entry, possession and use contemplated herein without the consent of any party and without any legal process or other condition precedent whatsoever. Borrower acknowledges that any denial of such entry, possession and use by Lender will cause irreparable injury and damage to Lender and agrees that Lender may forthwith xxx for any remedy to enforce the immediate enjoyment of such right. Borrower hereby waives the posting of any bond as a condition for granting such remedy.

Completion of Project. Enter upon and take The Department shall have the right to enter into possession of the Premises Property, the Infrastructure Project or the Housing Development, to take over and complete the Infrastructure Project or Housing Development in accordance with the Scope of Work, to discharge and replace the Contractor and to employ personnel to protect the Property, the Infrastructure Project or the Housing Development and, for those purposes, to make disbursements of Program Funds. All such disbursements shall be deemed to have been paid to the Recipient by the Department. Any funds so paid or advanced shall be reimbursed to the Department by Recipient on demand, together with interest thereon at the rate of ten (10%) percent per annum from the date of expenditure. Any contracts entered into or indebtedness incurred upon the exercise of such right may be in the name of the Recipient, and for such purposes and the other purposes of this Paragraph 22 the Department is hereby authorized and irrevocably appointed attorney‑in‑fact (said appointment being coupled with an interest) to enter into said contracts or agreements or contracts or agreements theretofore made by or on behalf of Recipient and to do any and all materialthings necessary or proper to complete the work of construction, equipment including the signing of Recipient's name to such contracts and supplies thereon documents as may be deemed necessary by counsel for the Department. In addition to the foregoing and do anything not in limitation thereof, the Recipient hereby further empowers the Department as said attorney-in-fact as follows: (i) to use any Program Funds for the purpose of completing the construction of the Infrastructure Project in the manner called for by the Scope of Work; (ii) to make such additions, changes and corrections in the Scope of Work as shall be necessary or desirable to complete the construction Infrastructure Project in substantially the manner contemplated by the Scope of the Improvements Work; (iii) to employ such contractors, subcontractors, agents, architects and to fulfill the obligations of Borrower hereunder and to sell, manage, maintain, repair and protect the Project. Without restricting the generality of the foregoing and inspectors as shall be required for the purposes aforesaid, Borrower hereby appoints and constitutes Lender its lawful attorney-in-fact with full power of substitution: said purposes; (iiv) to pay, settle or compromise all existing bills and claims which may be liens or security interests against the Premises Property, the Infrastructure Project, or any fixtures or equipment thereonpart thereof, or as may be necessary or desirable for the clearance completion of title or otherwise; (ii) to use any funds of Borrower, including any Loan balance which might not have been disbursed for the purpose of completing construction of the ImprovementsInfrastructure Project, or for clearance of title; (iiiv) to execute all applications and certificates in the name of Borrower the Recipient which may be required to carry out by the intent and purpose hereofConstruction Contract or documents entered into in connection therewith; (ivvi) to employ prosecute and defend all actions and proceedings in connection with the Infrastructure Property or the construction of the Infrastructure Project and to take such contractors, subcontractors, architects action and others as Lender may deem appropriaterequire such performance necessary; and (vvii) to do any and every act which Borrower the Recipient might do on in its own behalf, including, without limitation, behalf with regard to enter into leases of any portion completion of the Premises; and (vi) construction of the Infrastructure Project. In no event shall the Department be required to prosecute or defend any and all actions or proceedings involving expend its own funds to complete the Premises or any fixturesInfrastructure Project if the remaining Program Funds are insufficient, equipment or other installations thereon; it being understood and agreed that this power of attorney is coupled with an interest and cannot be revoked. Lender and but the Department may, at its designeesoption, representatives, agents, licensees and contractors shall be entitled to the entry, possession and use contemplated herein without the consent of any party and without any legal process or other condition precedent whatsoever. Borrower acknowledges that any denial of advance such entry, possession and use by Lender will cause irreparable injury and damage to Lender and agrees that Lender may forthwith xxx for any remedy to enforce the immediate enjoyment of such right. Borrower hereby waives the posting of any bond as a condition for granting such remedyfunds.

Completion of Project. Enter If any one or more of the Events of Default shall have occurred, and whether or not the Agent or the Majority Banks shall have terminated the Banks' obligations to make Advances and/or accelerated the maturity of the Loan pursuant to this Agreement as provided above, the Agent, if the construction of the Improvements has not been fully completed, may cause the Project to be completed and may enter upon and take possession of the Premises Land, whether in person, by agent or by court appointed receiver, and all materialconstruct, equipment equip and supplies thereon and do anything necessary or desirable to complete the Project in accordance with the Plans and Specifications, with such changes therein as the Majority Banks may, from time to time, and in their sole discretion, deem appropriate. In connection with any construction of the Improvements Project undertaken by the Agent pursuant to the provisions of this Section 13.3, the Agent may: (a) use any funds of the Borrower, including any balance which may be held by the Agent as security or in escrow, and any funds remaining unadvanced under the Loan; (b) employ existing contractors, subcontractors, agents, architects, engineers, and the like, or terminate the same and employ others; (c) employ security watchmen to fulfill the obligations of Borrower hereunder and to sell, manage, maintain, repair and protect the Project. Without restricting ; (d) make such additions, changes and corrections in the generality Plans and Specifications as shall, in the judgment of the foregoing Agent or the Majority Banks, be necessary or desirable; (e) take over and use any and all Personal Property contracted for or purchased by the purposes aforesaidBorrower, if appropriate, or dispose of the same as the Agent or the Majority Banks see fit; (f) execute all applications and certificates on behalf of the Borrower hereby appoints and constitutes Lender its lawful attorney-in-fact with full power of substitution: which may be required by any Governmental Authority or Requirements or contract documents or agreements; (ig) to pay, settle or compromise all existing or future bills and claims which are or may be liens or security interests against the Premises or any fixtures or equipment thereonProject, or as may be necessary for the completion of the Improvements or desirable for the clearance of title to the Project; (h) complete the marketing and leasing of leasable space in the Improvements, enter into new Leases, and modify or otherwise; amend existing Leases, all as the Agent or the Majority Banks shall deem to be necessary or desirable; (iii) to use any funds of Borrower, including any Loan balance which might not have been disbursed for prosecute and defend all actions and proceedings in connection with the purpose of completing construction of the Improvements or in any other way affecting the Land or the Improvements; and (iiij) take such action hereunder, or refrain from acting hereunder, as the Agent or the Majority Banks may, in their sole and absolute discretion, from time to execute all applications time determine, and certificates in the name of Borrower which may be required without any limitation whatsoever, to carry out the intent and purpose hereof; (iv) to employ such contractors, subcontractors, architects and others as Lender may deem appropriate; (v) to do any and every act which Borrower might do on its own behalf, including, without limitation, to enter into leases of any portion of the Premises; and (vi) to prosecute or defend any and all actions or proceedings involving the Premises or any fixtures, equipment or other installations thereon; it being understood and agreed that this power of attorney is coupled with an interest and cannot be revoked. Lender and its designees, representatives, agents, licensees and contractors shall be entitled to the entry, possession and use contemplated herein without the consent of any party and without any legal process or other condition precedent whatsoever. Borrower acknowledges that any denial of such entry, possession and use by Lender will cause irreparable injury and damage to Lender and agrees that Lender may forthwith xxx for any remedy to enforce the immediate enjoyment of such right. Borrower hereby waives the posting of any bond as a condition for granting such remedySection 13.

Completion of Project. Enter upon and take possession If any one or more of the Premises Events of Default shall have occurred and all materialcontinue past any applicable grace period, equipment and supplies thereon whether or not the Lender shall have terminated its obligations to make Advances and do anything necessary or desirable accelerated the maturity of the Construction Loan pursuant to complete Section 15.02, the Lender, if the construction of the Improvements has not been fully completed, may cause the Project to be completed and may enter upon the Land and construct, equip and complete the Project in accordance with the Plans and Specifications, with such changes therein as the Lender may, from time to fulfill time, and in its sole discretion, deem appropriate. In connection with any construction of the obligations Project undertaken by the Lender pursuant to the provisions of Borrower hereunder this Section 15.03, the Lender may: (a) use any funds of the Borrower, including any balance which may be held by the Lender as security or in escrow, and any funds remaining unadvanced under the Construction Loan; (b) employ existing contractors, subcontractors, agents, architects, engineers, and the like, or terminate the same and employ others; (c) employ security watchmen to sell, manage, maintain, repair and protect the Project. Without restricting ; (d) make such additions, changes and corrections in the generality Plans and Specifications as shall, in the judgment of the foregoing Lender, be necessary or desirable; (e) take over and use any and all Personal Property contracted for or purchased by the purposes aforesaidBorrower, if appropriate, or dispose of the same as the Lender sees fit; (f) execute all applications and certificates on behalf of the Borrower hereby appoints and constitutes Lender its lawful attorney-in-fact with full power of substitution: which may be required by any Govern­mental Authority or Requirements or contract documents or agreements; (ig) to pay, settle or compromise all existing or future bills and claims which are or may be liens or security interests against the Premises or any fixtures or equipment thereonProject, or as may be necessary for the completion of the Improvements or desirable for the clearance of title to the Project; (h) complete the marketing and leasing of leasable space in the Improvements, enter into new Leases, and modify or otherwise; amend existing Leases, all as the Lender shall deem to be necessary or desirable; (iii) to use any funds of Borrower, including any Loan balance which might not have been disbursed for prosecute and defend all actions and proceedings in connection with the purpose of completing construction of the ImprovementsImprovements or in any other way affecting the Land; and (iiij) take such action hereunder, or refrain from acting hereunder, as the Lender may, in its sole and absolute discretion, from time to execute all applications time determine, and certificates in the name of Borrower which may be required without any limitation whatsoever, to carry out the intent and purpose hereof; (iv) to employ such contractors, subcontractors, architects and others as Lender may deem appropriate; (v) to do any and every act which Borrower might do on its own behalf, including, without limitation, to enter into leases of any portion of the Premises; and (vi) to prosecute or defend any and all actions or proceedings involving the Premises or any fixtures, equipment or other installations thereon; it being understood and agreed that this power of attorney is coupled with an interest and cannot be revoked. Lender and its designees, representatives, agents, licensees and contractors shall be entitled to the entry, possession and use contemplated herein without the consent of any party and without any legal process or other condition precedent whatsoever. Borrower acknowledges that any denial of such entry, possession and use by Lender will cause irreparable injury and damage to Lender and agrees that Lender may forthwith xxx for any remedy to enforce the immediate enjoyment of such right. Borrower hereby waives the posting of any bond as a condition for granting such remedySection 15.

Completion of Project. Enter upon and take possession If any one or more of the Premises Events of Default shall have occurred and all materialbe continuing, equipment and supplies thereon whether or not the Lender shall have terminated its obligations to make Advances and do anything necessary or desirable accelerated the maturity of the Loan pursuant to complete ss.13.2, the Lender, if the construction of the Improvements has not been fully completed, may cause the Project to be completed and may enter upon the Land upon two (2) Business Days' written notice to fulfill the obligations Borrower, and construct, equip and complete the Project in accordance with the Plans and Specifications, with such changes therein as the Lender may, from time to time, and in its sole discretion, deem appropriate. In connection with any construction of Borrower hereunder the Project undertaken by the Lender pursuant to the provisions of this Section, the Lender may: (a) use any funds of the Borrower, including any balance which may be held by the Lender as security or in escrow, and any funds remaining unadvanced under the Loan; (b) employ existing contractors, subcontractors, agents, architects, engineers, and the like, or terminate the same and employ others; (c) employ security watchmen to sell, manage, maintain, repair and protect the Project. Without restricting ; (d) make such additions, changes and corrections in the generality Plans and Specifications as shall, in the judgment of the foregoing Lender, be necessary or desirable; (e) take over and use any and all Personal Property contracted for or purchased by the purposes aforesaidBorrower, if appropriate, or dispose of the same as the Lender sees fit; (f) execute all applications and certificates on behalf of the Borrower hereby appoints and constitutes Lender its lawful attorney-in-fact with full power of substitution: which may be required by any Governmental Authority or Requirements or contract documents or agreements; (ig) to pay, settle or compromise all existing or future bills and claims which are or may be liens or security interests against the Premises or any fixtures or equipment thereonProject, or as may be necessary for the completion of the Improvements or desirable for the clearance of title to the Project; (h) complete the marketing and leasing of leasable space in the Improvements, enter into new Leases, and modify or otherwise; amend existing Leases, all as the Lender shall deem to be necessary or desirable; (iii) to use any funds of Borrower, including any Loan balance which might not have been disbursed for prosecute and defend all actions and proceedings in connection with the purpose of completing construction of the ImprovementsImprovements or in any other way affecting the Land or the Improvements and take such action and require such performance as the Lender deems necessary under any Payment and Performance Bonds; and (iiij) take such action hereunder, or refrain from acting hereunder, as the Lender may, in its sole and absolute discretion, from time to execute all applications time determine, and certificates in the name of Borrower which may be required without any limitation whatsoever, to carry out the intent of this Section. The Borrower shall be liable to the Lender for all costs paid or incurred for the construction, equipping and purpose hereof; (iv) completion of the Project, whether the same shall be paid or incurred pursuant to employ such contractorsthe provisions of this Section or otherwise, subcontractors, architects and others as all payments made or liabilities incurred by the Lender may deem appropriate; (v) to do any and every act which Borrower might do on its own behalf, including, without limitation, to enter into leases hereunder of any portion kind whatsoever shall be deemed Advances made to the Borrower under this Agreement and shall be secured by the Mortgage and the other Security Documents. To the extent that any costs so paid or incurred by the Lender, together with all other Advances made by the Lender hereunder, exceed the Loan Amount, the amount of such excess costs shall be added to the Loan Amount, and the Borrower's obligation to repay the same, together with interest thereon at the Default Rate, shall be deemed to be evidenced by this Agreement and secured by the Mortgage and the other Security Documents. In the event the Lender takes possession of the Premises; Project and (vi) to prosecute or defend any and all actions or proceedings involving the Premises or any fixturesassumes control of such construction as aforesaid, equipment or other installations thereon; it being understood and agreed that this power of attorney is coupled with an interest and canshall not be revokedobligated to continue such construction longer than it shall see fit and may thereafter, at any time, change any course of action undertaken by it or abandon such construction and decline to make further payments for the account of the Borrower whether or not the Project shall have been completed. Lender For the purpose of this Section, the construction, equipping and its designees, representatives, agents, licensees and contractors completion of the Project shall be entitled deemed to include any action necessary to cure any Event of Default by the entry, possession Borrower under any of the terms and use contemplated herein without the consent provisions of any party and without any legal process or other condition precedent whatsoever. Borrower acknowledges that any denial of such entry, possession and use by Lender will cause irreparable injury and damage to Lender and agrees that Lender may forthwith xxx for any remedy to enforce the immediate enjoyment of such right. Borrower hereby waives the posting of any bond as a condition for granting such remedyLoan Documents.

Completion of Project. Enter upon and take possession If any one or more of the Premises Events of Default shall have occurred, regardless of whether the obligation to make Advances has been terminated or the Note accelerated under SECTION 13.1, the Lender may cause the Project to be completed and all materialmay enter upon the Land and construct, equipment equip and supplies thereon and do anything necessary or desirable to complete the Project, with such changes therein as the Lender may, from time to time, and in its sole discretion, deem appropriate. In connection with any construction of the Improvements Project, the Lender may either directly or through a receiver: (a) use any funds of the Borrower, including any balance which may be held by the Lender as security or, if Borrower is entitled to the same the funds held in escrow under the Purchase and Sale Agreements, and any funds remaining unadvanced under the Loan; (b) employ existing contractors, subcontractors, agents, architects, engineers, and the like, or terminate the same and employ others; (c) employ security watchmen to fulfill the obligations of Borrower hereunder and to sell, manage, maintain, repair and protect the Project. Without restricting ; (d) make such additions, changes and corrections in the generality Plans and Specifications as shall, in the judgment of the foregoing Lender, be necessary or desirable; (e) take over and use any and all Personal Property contracted for or purchased by the purposes aforesaidBorrower, if appropriate, or dispose of the same as the Lender sees fit; (f) execute all applications and certificates on behalf of the Borrower hereby appoints and constitutes Lender its lawful attorney-in-fact with full power of substitution: which may be required by any Governmental Authority or Requirements or contract documents or agreements; (ig) to pay, settle or compromise all existing or future bills and claims which are or may be liens or security interests against the Premises or any fixtures or equipment thereonProject, or as may be necessary for the completion of the Improvements or desirable for the clearance of title to the Project; (h) enter into new Purchase and Sale Agreements, and modify or otherwise; amend existing Purchase and Sale Agreements, all as the Lender shall deem to be necessary or desirable; (iii) to use any funds of Borrower, including any Loan balance which might not have been disbursed for prosecute and defend all actions and proceedings in connection with the purpose of completing construction of the Improvements; Improvements or in any other way affecting the Land or the Improvements and take such action and require such performance as the Lender deems necessary under any Payment and Performance Bonds; (iiij) to execute all applications and certificates in the name fulfill any obligations of Borrower which may be required under the Requirements and the Purchase and Sale Agreements; and (k) take such action hereunder, or refrain from acting hereunder, as the Lender may, in its sole and absolute discretion, from time to time determine, and without any limitation whatsoever, to carry out the intent and purpose hereof; (iv) to employ such contractors, subcontractors, architects and others as Lender may deem appropriate; (v) to do any and every act which Borrower might do on its own behalf, including, without limitation, to enter into leases of any portion of the Premises; and (vi) to prosecute or defend any and all actions or proceedings involving the Premises or any fixtures, equipment or other installations thereon; it being understood and agreed that this power of attorney is coupled with an interest and cannot be revoked. Lender and its designees, representatives, agents, licensees and contractors shall be entitled to the entry, possession and use contemplated herein without the consent of any party and without any legal process or other condition precedent whatsoever. Borrower acknowledges that any denial of such entry, possession and use by Lender will cause irreparable injury and damage to Lender and agrees that Lender may forthwith xxx for any remedy to enforce the immediate enjoyment of such right. Borrower hereby waives the posting of any bond as a condition for granting such remedySECTION 13.

Completion of Project. Enter upon and take possession Lender shall have no obligation to advance any portion of the Premises and all material, equipment and supplies thereon and do anything necessary or desirable to complete the construction undisbursed proceeds of the Improvements and Loan to fulfill Borrower. Lender may enter upon the obligations Property for the purpose of Borrower hereunder and to sell, manage, maintain, repair and protect causing the Project. Without restricting the generality continuation or completion of the foregoing Project and causing the Borrower's obligations hereunder to be fulfilled, and for such purposes the purposes aforesaid, Borrower each hereby appoints and constitutes Lender the Bank as its lawful attorney-in-fact fact, with full power of delegation and substitution: , to act for such purpose in the Borrower's name, to: (i) continue the completion of the Project, (ii) avail itself and procure performance of all contracts theretofore made by the Borrower, (iii) modify such contracts, or to enter into new contracts with the same or other contractors, architects, suppliers or agents, as may be reasonably necessary to complete the Project, (iv) make such corrections or changes in the Plans and Specifications as may be reasonably necessary to complete the Project, (v) pay, settle or compromise all existing bills and any bills, claims which may be or liens or security interests against incurred in connection with the Premises or any fixtures or equipment thereon, or as may be necessary or desirable for the clearance of title or otherwise; (ii) to use any funds of Borrower, including any Loan balance which might not have been disbursed for the purpose of completing construction completion of the Improvements; (iii) to execute all applications and certificates in the name of Borrower which may be required to carry out the intent and purpose hereof; (iv) to employ such contractors, subcontractors, architects and others as Lender may deem appropriate; (v) to do any and every act which Borrower might do on its own behalf, including, without limitation, to enter into leases of any portion of the Premises; and Project, (vi) to prosecute or defend any action or proceeding in connection therewith, to execute such applications and all actions or proceedings involving the Premises certificates as may be required by governmental authority or any fixturesagreement by the Borrower, (vii) perform any other act and execute and deliver all documents and instruments as may be appropriate for such purposes, equipment and (viii) use any funds not yet advanced hereunder or other installations thereon; otherwise allocated or made available therefor to pay the cost thereof, it being understood and specifically agreed that this power of attorney is a power coupled with an interest and which cannot be revoked. Lender and its designees, representatives, agents, licensees and contractors Any disbursement of funds for such purposes shall be entitled deemed disbursements pursuant to this Agreement and secured by this Agreement and the Deed of Trust. In addition, if it shall be reasonably necessary for the Bank to disburse any amounts in order to accomplish such purposes, the Borrower agrees to reimburse the Bank for the amount of such excess, together with interest thereon as provided in Article VIII hereof, and authorizes the Bank to apply funds received from the sale or rental of any portions of the Project to the entry, possession and use contemplated herein without the consent of any party and without any legal process or other condition precedent whatsoever. Borrower acknowledges that any denial repayment of such entry, possession and use by Lender will cause irreparable injury and damage to Lender and agrees that Lender may forthwith xxx excess before the same are applied for any remedy other purpose. Any action taken by the Bank hereunder may, in the sole discretion of the Bank, be thereafter terminated or changed, and this Agreement or any action taken hereunder shall in no way be construed as imposing any obligation upon the Bank to enforce act or continue to act on the immediate enjoyment Borrower's behalf or otherwise to complete the Project or fulfill any obligation of such right. the Borrower hereby waives in connection with the posting of any bond as a condition for granting such remedyProject.

Completion of Project. Enter upon and take possession If any one or more of the Premises Events of Default shall have occurred and all materialcontinue past any applicable grace period, equipment and supplies thereon whether or not the Lender shall have terminated its obligations to make Advances and do anything necessary or desirable accelerated the maturity of the Construction Loan pursuant to complete Section 15.02, the Lender, if the construction of the Improvements has not been fully completed, may cause the Project to be completed and may enter upon the Land and construct, equip and complete the Project in accordance with the Plans and Specifications, with such changes therein as the Lender may, from time to fulfill time, and in its sole discretion, deem appropriate. In connection with any construction of the obligations Project undertaken by the Lender pursuant to the provisions of Borrower hereunder this Section 15.03, the Lender may: (a) use any funds of the Borrower, including any balance which may be held by the Lender as security or in escrow, and any funds remaining unadvanced under the Construction Loan; (b) employ existing contractors, subcontractors, agents, architects, engineers, and the like, or terminate the same and employ others; (c) employ security watchmen to sell, manage, maintain, repair and protect the Project. Without restricting ; (d) make such additions, changes and corrections in the generality Plans and Specifications as shall, in the judgment of the foregoing Lender, be necessary or desirable; (e) take over and use any and all Personal Property contracted for or purchased by the purposes aforesaidBorrower, if appropriate, or dispose of the same as the Lender sees fit; (f) execute all applications and certificates on behalf of the Borrower hereby appoints and constitutes Lender its lawful attorney-in-fact with full power of substitution: which may be required by any Governmental Authority or Requirements or contract documents or agreements; (ig) to pay, settle or compromise all existing or future bills and claims which are or may be liens or security interests against the Premises or any fixtures or equipment thereonProject, or as may be necessary for the completion of the Improvements or desirable for the clearance of title to the Project; (h) complete the marketing and leasing of leasable space in the Improvements, enter into new Leases, and modify or otherwise; amend existing Leases, all as the Lender shall deem to be necessary or desirable; (iii) to use any funds of Borrower, including any Loan balance which might not have been disbursed for prosecute and defend all actions and proceedings in connection with the purpose of completing construction of the ImprovementsImprovements or in any other way affecting the Land; and (iiij) take such action hereunder, or refrain from acting hereunder, as the Lender may, in its sole and absolute discretion, from time to execute all applications time determine, and certificates in the name of Borrower which may be required without any limitation whatsoever, to carry out the intent of this Section 15.03. The Borrower shall be liable to the Lender for all costs paid or incurred for the construction, equipping and purpose hereof; (iv) completion of the Project, whether the same shall be paid or incurred pursuant to employ such contractorsthe provisions of this Section 15.03 or otherwise, subcontractors, architects and others as all payments made or liabilities incurred by the Lender may deem appropriate; (v) to do any and every act which Borrower might do on its own behalf, including, without limitation, to enter into leases hereunder of any portion kind whatsoever shall be deemed Advances made to the Borrower under this Agreement and shall be secured by the Mortgage and the other Security Documents. To the extent that any costs so paid or incurred by the Lender, together with all other Advances made by the Lender hereunder, exceed the Construction Loan Amount, the amount of such excess costs shall be added to the Construction Loan Amount, and the Borrower’s obligation to repay the same, together with interest thereon at the Default Rate, shall be deemed to be evidenced by this Agreement and secured by the Mortgage and the other Security Documents. In the event the Lender takes possession of the Premises; Project and (vi) to prosecute or defend any and all actions or proceedings involving the Premises or any fixturesassumes control of such construction as aforesaid, equipment or other installations thereon; it being understood and agreed that this power of attorney is coupled with an interest and canshall not be revokedobligated to continue such construction longer than it shall see fit and may thereafter, at any time, change any course of action undertaken by it or abandon such construction and decline to make further payments for the account of the Borrower whether or not the Project shall have been completed. Lender For the purpose of this Section 15.03, the construction, equipping and its designees, representatives, agents, licensees and contractors completion of the Project shall be entitled deemed to include any action necessary to cure any Event of Default by the entry, possession Borrower under any of the terms and use contemplated herein without the consent provisions of any party and without any legal process or other condition precedent whatsoever. Borrower acknowledges that any denial of such entry, possession and use by Lender will cause irreparable injury and damage to Lender and agrees that Lender may forthwith xxx for any remedy to enforce the immediate enjoyment of such right. Borrower hereby waives the posting of any bond as a condition for granting such remedyLoan Documents.

Completion of Project. Enter upon and take possession If any one or more of the Premises Events of Default shall have occurred and all materialcontinue, equipment and supplies thereon whether or not Lenders shall have terminated their obligations to make Advances and do anything necessary or desirable accelerated the maturity of the Loan pursuant to complete Section 14.2, Agent, if the construction of the Improvements has not been fully completed by Borrower, and Guarantor shall have failed to fulfill materially comply with the obligations of Borrower hereunder and to sell, manage, maintain, repair and protect the Project. Without restricting the generality provisions of the foregoing Guaranty, may cause the Project to be completed and for may enter upon the purposes aforesaidLand and construct, Borrower hereby appoints equip and constitutes Lender complete the Project in accordance with the Plans and Specifications, with such changes therein as Agent may, from time to time, and in its lawful attorney-in-fact sole discretion, deem appropriate. In connection with full power any construction of substitution: the Project undertaken by Lenders pursuant to the provisions of this Section, Agent may: (ia) to pay, settle or compromise all existing bills and claims which may be liens or security interests against the Premises or any fixtures or equipment thereon, or as may be necessary or desirable for the clearance of title or otherwise; (ii) to use any funds of Borrower, including any Loan balance which might not have been disbursed may be held by Agent as security or in escrow, and any funds remaining unadvanced under the Loan; (b) employ existing contractors, subcontractors, agents, architects, engineers, and the like, or terminate the same and employ others; (c) employ security watchmen to protect the Project; (d) make such additions, changes and corrections in the Plans and Specifications as shall, in the judgment of Lender, be reasonably necessary or desirable; (e) take over and use any and all Personal Property contracted for the purpose of completing construction or purchased by Borrower, if appropriate, or dispose of the Improvements; same as Lender sees fit; (iiif) to execute all applications and certificates in the name on behalf of Borrower which may be required by any Governmental Authority or Requirements or contract documents or agreements; (g) pay, settle or compromise all existing or future bills and claims which are or may be liens against the Project, or may be necessary for the completion of the Improvements or the clearance of title to the Project; (h) complete the marketing and leasing of leasable space in the Improvements, enter into new Leases, and modify or amend existing Leases, all as Agent shall deem to be necessary or desirable; (i) prosecute and defend all actions and proceedings in connection with the construction of the Improvements or in any other way affecting the Land or the Improvements and take such action and require such performance as Agent deems necessary under the Subcontractor Default Surety Program; and (j) take such action hereunder, or refrain from acting hereunder, as Agent may, in its sole and absolute discretion, from time to time determine, and without any limitation whatsoever, to carry out the intent of this Section. Borrower shall be liable to Agent and purpose hereof; (iv) Lenders for all costs actually paid or incurred for the construction, equipping and completion of the Project in substantial accordance with the Plans and Specifications, whether the same shall be paid or incurred pursuant to employ such contractorsthe provisions of this Section or otherwise, subcontractors, architects and others as Lender may deem appropriate; (v) to do any all payments made or liabilities incurred by Agent and every act which Borrower might do on its own behalf, including, without limitation, to enter into leases Lenders hereunder of any portion kind whatsoever shall be deemed Advances made to Borrower under this Agreement and shall be secured by the Deed of Trust and the other Security Documents. To the extent that any costs so paid or incurred by Agent or any Lender, together with all other Advances made by Lenders hereunder, exceed the Loan Amount, the amount of such excess costs shall be added to the Loan Amount, and Borrower’s obligation to repay the same, together with interest thereon at the Default Rate, shall be deemed to be evidenced by this Agreement and secured by the Deed of Trust and the other Security Documents. In the event Agent takes possession of the Premises; Project and (vi) to prosecute or defend any and all actions or proceedings involving the Premises or any fixturesassumes control of such construction as aforesaid, equipment or other installations thereon; it being understood and agreed that this power of attorney is coupled with an interest and canshall not be revokedobligated to continue such construction longer than it shall see fit and may thereafter, at any time, change any course of action undertaken by it or abandon such construction and decline to make further payments for the account of Borrower whether or not the Project shall have been completed. Lender For the purpose of this Section, the construction, equipping and its designees, representatives, agents, licensees and contractors completion of the Project shall be entitled deemed to include any action necessary to cure any Event of Default by Borrower under any of the entry, possession terms and use contemplated herein without the consent provisions of any party and without any legal process or other condition precedent whatsoever. Borrower acknowledges that any denial of such entry, possession and use by Lender will cause irreparable injury and damage to Lender and agrees that Lender may forthwith xxx for any remedy to enforce the immediate enjoyment of such right. Borrower hereby waives the posting of any bond as a condition for granting such remedyLoan Documents.

Completion of Project. Enter upon (a) Developer agrees that it will make, execute, acknowledge and take possession deliver any contracts, orders, receipts, writings and instructions with any other persons, firms, corporations or partnerships and in general do all things which may be requisite or proper, all for constructing and completing the Project, to the extent permitted by law, which is expected within [twenty-four (24) months] after commencement of construction. In the event the moneys in the Project Fund should not be sufficient to pay in full the costs to be paid therefrom, Developer agrees, for the benefit of the Premises City and all materialthe Bondholders and in order to fulfill the purposes of the Act, equipment and supplies thereon and do anything necessary or desirable to complete the construction of the Improvements Project and to fulfill pay that portion of the obligations costs therefor as may be in excess of Borrower hereunder the moneys available therefor in the Project Fund. The City does not make any warranty, either express or implied, that the moneys, which will be paid into the Project Fund and which under the provisions of this Financing Agreement will be available for payment of the costs of the construction of the Project, will be sufficient to sell, manage, maintain, repair and protect pay all Improvement Costs which will be incurred in connection with the Project. Without restricting Developer shall not be entitled to any reimbursement from the generality City, the Trustee, or the holders of any of the foregoing Series 20 A Bonds should the Developer pay any Improvement Costs after exhaustion of moneys in the Project Fund, nor shall it be entitled to any diminution in or abatement or postponement of the amounts payable hereunder. (a) The City has, in the Indenture, authorized and for directed Trustee to make payments from the purposes aforesaid, Borrower hereby appoints and constitutes Lender its lawful attorney-in-fact with full power of substitution: (i) Project Fund to pay, settle or compromise all existing bills and claims which may be liens or security interests against pay the Premises or any fixtures or equipment thereonImprovement Costs, or to reimburse Developer for any costs of construction paid by it. Developer agrees to direct such requisitions to Trustee as may be necessary to effect payments out of the Project Fund in accordance with this Section 3.11. (b) The completion date of the Project shall be evidenced to Trustee and City by a certificate signed by an authorized representative of Developer in compliance with Section 4.03(e) of the Indenture stating that, except for amounts retained by Trustee at Developer’s direction for any Improvement Costs not then due and payable or desirable being contested in good faith, (i) the construction of the Project has been completed and any and all labor, services, materials and supplies used in such construction have been paid for the clearance of title or otherwise; and (ii) to use any funds of Borrower, including any Loan balance which might not all other items necessary in connection with the Project have been disbursed for constructed and all costs and expenses incurred in connection therewith have been paid. Notwithstanding the purpose foregoing, such certificate shall state that it is given without prejudice to any rights against third parties which exist at the date of completing construction such certificate or which may subsequently come into being. Upon receipt of such certificate, Trustee shall in accordance with Article IV of the Improvements; (iii) to execute Indenture transfer all applications and certificates moneys then in the name of Borrower which may be required Project Fund to carry out the intent and purpose hereof; (iv) to employ such contractors, subcontractors, architects and others as Lender may deem appropriate; (v) to do any and every act which Borrower might do on its own behalf, including, without limitation, to enter into leases of any portion Bond Fund for redemption of the Premises; and (vi) to prosecute or defend Series 20 A Bonds as provided in Section 4.03 of the Indenture, except any and all actions or proceedings involving the Premises or any fixtures, equipment or other installations thereon; it being understood and agreed that this power of attorney is coupled with an interest and cannot be revoked. Lender and its designees, representatives, agents, licensees and contractors shall be entitled to the entry, possession and use contemplated herein without the consent of any party and without any legal process or other condition precedent whatsoever. Borrower acknowledges that any denial of such entry, possession and use amount retained as aforesaid by Lender will cause irreparable injury and damage to Lender and agrees that Lender may forthwith xxx Trustee for any remedy to enforce the immediate enjoyment costs of such right. Borrower hereby waives the posting of any bond as a condition for granting such remedyconstruction.