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Section 10.16. Permitted Contests. Notwithstanding anything to the contrary contained in this
<br />Borrower Loan Agreement, Borrower shall have the right to contest or object in good faith to any claim,
<br />demand, levy or assessment (other than in respect of Debt or Contractual obligations of Borrower under
<br />any Borrower Loan Document or Related Document) by appropriate legal proceedings that are not
<br />prejudicial to Funding Lender's rights, but this shall not be deemed or construed as in any way relieving,
<br />modifying or providing any extension of time with respect to Borrower's covenant to pay and comply
<br />with any such claim, demand, levy or assessment, unless Borrower shall have given prior Written Notice
<br />to the Governmental Lender and the Funding Lender of Borrower's intent to so contest or object thereto,
<br />and unless (i) Borrower has, in the Governmental Lender's and the Funding Lender's judgment, a
<br />reasonable basis for such contest, (ii) Borrower pays when due any portion of the claim, demand, levy or
<br />assessment to which Borrower does not object, (iii) Borrower demonstrates to Funding Lender's
<br />satisfaction that such legal proceedings shall conclusively operate to prevent enforcement prior to final
<br />determination of such proceedings, (iv} Borrower furnishes such bond, surety, undertaking or other
<br />security in connection therewith as required by law, or as requested by and satisfactory to Funding
<br />Lender, to stay such proceeding, which bond, surety, undertaking or other security shall be issued by a
<br />bonding company, insurer or surety company reasonably satisfactory to Funding Lender and shall be
<br />sufficient to cause the claim, demand, levy or assessment to be insured against by the Title Company or
<br />removed as a lien against the Project, (v) Borrower at all times prosecutes the contest with due diligence,
<br />and (vi}Borrower pays, promptly following a determination of the amount of such claim, demand, levy or
<br />assessment due and owing by Borrower, the amount so determined to be due and owing by Borrower. In
<br />the event that Borrower does not make, promptly following a determination of the amount of such claim,
<br />demand, levy or assessment due and owing by Borrower, any payment required to be made pursuant to
<br />clause (vi) of the preceding sentence, an Event of Default shall have occurred, and Funding Lender may
<br />draw or realize upon any bond or other security delivered to Funding Lender in connection with the
<br />contest by Borrower, in order to make such payment.
<br />Section 10.17. Funding Lender Approval of Instruments and Parties. All proceedings taken
<br />in accordance with transactions provided for herein, and all surveys, appraisals and documents required or
<br />contemplated by this Borrower Loan Agreement and the persons responsible for the execution and
<br />preparation thereof, shall be satisfactory to and subject to approval by Funding Lender. Funding Lender's
<br />approval of any matter in connection with the Project shall be for the sole purpose of protecting the
<br />security and rights of Funding Lender. No such approval shall result in a waiver of any default of
<br />Borrower. In no event shall Funding Lender's approval be a representation of any kind with regard to the
<br />matter being approved.
<br />Section 10.18. Funding Lender Determination of Facts. Funding Lender shall at all times be
<br />free to establish independently, to its reasonable satisfaction, the existence or nonexistence of any fact or
<br />facts, the existence or nonexistence of which is a condition of this Borrower Loan Agreement.
<br />Section 10.19. Calendar Months. With respect to any payment or obligation that is due or
<br />required to be performed within a specified number of Calendar Months after a specified date, such
<br />payment or obligation shall become due on the day in the last of such specified number of Calendar
<br />Months that corresponds numerically to the date so specified; provided, however, that with respect to any
<br />obligation as to which such specified date is the 29th, 30th or 31st day of any Calendar Month: if the
<br />Calendar Month in which such payment or obligation would otherwise become due does not have a
<br />numerically corresponding date, such obligation shall become due on the first day of the next succeeding
<br />Calendar Month.
<br />Section 10.20. Determinations by Lender. Except to the extent expressly set forth in this
<br />Borrower Loan Agreement to the contrary, in any instance where the consent or approval of the
<br />Governmental Lender and the Funding Lender maybe given or is required, or where any determination,
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