Laserfiche WebLink
Section 5.07 Disclosure of Documents <br />All of the records, information, data, reports, etc., prepared or assembled by the <br />Borrower under this Agreement are confidential and the Borrower does covenant and agree <br />that those items shall not be made available to any individual or organization, other than an <br />agency of the United States Government, without the prior written approval of the City. <br />Applicable federal, state, and local laws shall govern disclosure of documents, which are <br />in the possession of the City. <br />Section 5.08 Inspection <br />Borrower shall permit any duly authorized representative of the United States <br />Department of Housing and Urban Development (HUD), the City, or any other appropriate <br />governmental official at all reasonable hours, upon reasonable notice, and as often as <br />reasonably requested, to have the right to (1) inspect the personal property, and real estate <br />used to secure the Loan; (2) inspect Borrower's books of account (and to make copies of and /or <br />extracts therefrom); or (3) discuss with agents and employees of Borrower: Borrower's affairs, <br />employment and contracting goals, finances, accounts and compliance with the terms of this <br />Agreement. <br />Borrower shall provide statements, records, data and the City free access and entry to <br />any portion of Borrower's premises for the purposes of such inspections and discussions until <br />the terms of this Agreement have been complied with and fulfilled. <br />Section 5.09 Notice of Default <br />Within ten (10) days of any event, which constitutes an Event of Default, as defined in <br />Article VI, or as defined under any of the Loan Documents, Borrower shall provide written <br />notice to the City of the event. If an event occurs which would, with notice or lapse of time, <br />constitute an Event of Default; Borrower shall likewise give notice to the City within ten (10) <br />days of the discovery of that event. <br />Section 5.10 Indemnification <br />Borrower shall be fully responsible and shall indemnify and hold harmless the City, its <br />officials, employees and agents against all liability, claims, demands, losses, damages, delays <br />and costs arising from any act or omission by, or negligence of Borrower and its officers, agents, <br />or employees or its contractor or subcontractor or the officers, agents or employees'of the <br />contractor or subcontractor while engaged in the performance of this Agreement. <br />Also, no member, official, or employee of the City or of its agents or contractors shall be <br />personally liable to Borrower in the event of any default or breach of the Agreement by the <br />City. <br />Page 12 of 19 <br />