Maintenance and Repair of Project. After completion of the Project, Borrower shall cause Mortgagor to (a) maintain the Project, including the parking and landscaping portions thereof, in good condition and repair, (b) promptly make all necessary structural and non-structural repairs to the Project, (c) not demolish, alter, remove or add to any improvements on the Property, excepting (i) the repair and restoration of improvements following damage thereto as required by this Agreement, and (ii) as otherwise required by any applicable law, rule or regulations, and (d) not erect any new buildings, structures or building additions on the Project other than in accordance with the plans for the Project, without the prior written consent of Lender. Borrower shall pay when due all claims for labor performed and materials furnished therefor in connection with any improvements or construction activities on the Property; provided that Borrower may in good faith contest any liens, claims or amounts so long as it provides, for any filed lien, a bond in accordance with statutory requirements or other security reasonably satisfactory to Lender.
Appears in 4 contracts
Samples: Senior Mezzanine Loan Agreement (Behringer Harvard Opportunity REIT I, Inc.), Junior Mezzanine Loan Agreement (Behringer Harvard Opportunity REIT I, Inc.), Senior Mezzanine Loan Agreement (Behringer Harvard Opportunity REIT I, Inc.)
