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any excess portion of such charges that may have been prepaid shall
be refunded to the Maker hereof at the time of acceleration. Such
refunding may be made by application of the amount involved as a -
credit against the sums then due hereunder, but such crediting shall
not cure or waive any default.
6. Lucille V. Costa and George A. Costa and Bears Nest,
collectively and individually, do further covenant and agree as
follows, which covenants and agreements shall be in .addition to, and
shall in no way derogate or detract from the obligations, covenants
and conditions of Said Note, Mortgage and Security Agreement;
(a) To furnish, within ninety (90) days after the end of each
;fiscal year of the motel business conducted on the Property, an
operating statement for said business, in form and detail satisfac-
tory to Liberty, either prepared by a certified public accountant or
audited by a certified public accountant, together with an affidavit
of each of the aforesaid parties certifying to the truth and correct-
ness of the entries of such operating statement. In addition to the
aforesaid Annual Statement, the parties shall furnish, or cause to
be furnished, to Liberty, within thirty (30) days from the end of
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each month, an-audited or CPA prepared financial statement with
respect to the operation of the motel for said month (inclusive of
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fees, income, and expenses related to the restaurant, lounge, room
j rentals, concessions, etc.).
. (b) To furnish, or cause to be furnished, to Liberty, at least
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g sixty (60) days prior to the beginning of each fiscal year for the
operation of the motel business on the Property, a proposed operating
and capital budget, and in addition thereto, to furnish or cause to
be furnished, quarterly statements within 30 days after the end of
each fiscal quarter, sufficient in form to provide~a basis for
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comparison with the aforesaid annual operating budget. ;
_ (c) To make no capital expenditure in excess of $10,000.00
with reference to the motel operation without the prior written ?
~ approval of Liberty.
(d) To permit Liberty, its agents and attorneys, to inspect,
during reasonable business hours, the Property and all financial
records pertaining to the operation of the Property. In the event
such records are not available on the premises, they will be made
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-11- anoK3~ PACE 644
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