Does the GoDocs loan agreement prohibit “material alterations/improvements” to a property?

Section C.2.(h) Statements of Fact Regarding Mortgaged Property (Loan Agreement) states that:

There has been no material change in...the Mortgaged Property...since the date of Borrower's application for the Loan or submittal of information to Lender in connection with the Loan.

Section D.10. Use of Mortgaged Property (Loan Agreement) states that:

...Borrower shall not (a) except for any change in use approved by Lender, allow changes in the use for which all or any part of the Mortgaged Property was being used at the time this Loan Agreement was executed...

Section A. Defined Terms (Loan Agreement) for the definition of "Material Adverse Effect":

...[anything] to have a significant detrimental effect on...(iv) the use, value or condition of the Mortgaged Property.

Section X. No Material Adverse Effect (Promissory Note) (or thereabouts)

Borrower's failure to comply with the above could be an Event of Default. With an Event of Default, Lender will have all remedies available to them (which could be no action at that time) and does not limit any future remedies.This goes to say that it is always better for the Borrower to ask permission from the Lender than to seek forgiveness after the fact.