Audits of Mortgaged Property; Fees. During the continuance of an Event of Default or in the event Lender has a reasonable basis to believe that Borrower has misapplied Project funds or Advances, Lender may, from time to time in such events, audit the books and records related to the Mortgaged Property. Borrower agrees to reimburse Lender, on demand, for customary and reasonable fees and costs incurred by Lender for such audits.
Appears in 2 contracts
Sources: Construction Loan Agreement, Construction Loan Agreement (CNL Growth Properties, Inc.)