HomeMy WebLinkAbout71insurance premiums, operation and maintenance charges relating to the Property, and
other obligations of lessor under the Leases before using such proceeds for any other
purpose.
i. Ternt• This Agreement shall continue in full force and effect
until (a) all amounts due under the Loan Documents are paid in full, and (b) all other
obligations of Borrower under the. loan Documents are fully satisfied.
8. A gpplatmc¢{. Borrower irrevocably appoints Lender its true and
lawful attorney in fact, which appointment is coupled with an interest, tu execute any
or all of the rights or power,. described herein with the same force and effect as if
executed by Borrower, and Borrower ratifies and confirms any and all acts done or
omitted o be done by Lender, its agents, servants, employers or attorneys in, to or
about the property.
p. Lishilily of I e kr. Lender shall not in any way be liable to
Borrower for any action or inaction of lAmder, its employees or agents under this
Agreement.
10. In cMaification. Borrower shall indemnify, defend and hold
harmless Lender from ^nd against all liability, loss, damage, cost or expense which it
A may incur under this Agreement or under any of the Leases, including any claim
Q against Lender by reason of any alleged obligation, underWcin , act on, or inaction on
Q its part to perform or discharge any terms, covenants or conditions of the Leases or
X, with respect to Rents, and including attorneys' fees and expenses, including those
Cn arising from the joint, concurrent, or comparative otogence of Lender; however,
Borrower shall not i liable, under such indemnification to the extent such liability,
loss, damage, cos, • -xpensc results solely from Lender's gross negligence or willful
misconduct, Any amotmt covered by this indemnity shall be payable on demand, and
shall bear interest from the date of demand until the same is paid by Borrower to
Lender at a rats equal to the Default Rate (as defined in the Loan Agreement).
11. LFjgdjlkalhgp. This Agreemeat may not be changed orally, but
only by an agreement in writing signed by the party against whom enforcement of such
change is sought.
12. $fig t)gd,Mlygl. Thu Agreetnent shall mute to the
benefit of Lender and its successors and assigns and shall be binding an Borrower and
its sttc.:csscrs and assigns
13. Governia¢ Law. This Agreement shall be governed and
ccustrued in accordance with the laws of the State of Washington.