REFERRED TO
OR REFLECTED IN SAID FINANCIAL STATEMENTS.
SINCE THE DATE OF SUCH FINANCIAL
STATEMENTS, THERE HAS BEEN NO MATERIAL ADVERSE CHANGE IN THE FINANCIAL
CONDITION, OPERATION OR BUSINESS OF ANY BORROWER PARTY FROM THAT SET FORTH IN
SAID FINANCIAL STATEMENTS.
4.1.12.
CONDEMNATION.
NO CONDEMNATION OR OTHER SIMILAR PROCEEDING HAS BEEN
COMMENCED OR, TO BORROWER'S BEST KNOWLEDGE, IS THREATENED OR CONTEMPLATED WITH
RESPECT TO ALL OR ANY PORTION OF THE PROPERTY OR FOR THE RELOCATION OF ROADWAYS
PROVIDING ACCESS TO THE PROPERTY.
4.1.13.
FEDERAL RESERVE REGULATIONS.
NO PART OF THE PROCEEDS OF THE LOAN
WILL BE USED FOR THE PURPOSE OF PURCHASING OR ACQUIRING ANY "MARGIN STOCK"
WITHIN THE MEANING OF REGULATION U OF THE BOARD OF GOVERNORS OF THE FEDERAL
RESERVE SYSTEM OR FOR ANY OTHER PURPOSE WHICH WOULD BE INCONSISTENT WITH SUCH
REGULATION U OR ANY OTHER REGULATIONS OF SUCH BOARD OF GOVERNORS, OR FOR ANY
PURPOSES PROHIBITED BY LEGAL REQUIREMENTS OR BY THE TERMS AND CONDITIONS OF THIS
AGREEMENT OR THE OTHER LOAN DOCUMENTS.
4.1.14.
UTILITIES AND PUBLIC ACCESS.
THE PROPERTY HAS RIGHTS OF ACCESS TO
PUBLIC WAYS AND IS SERVED BY WATER, SEWER, SANITARY SEWER AND STORM DRAIN
FACILITIES ADEQUATE TO SERVICE THE PROPERTY FOR ITS INTENDED USES.
ALL PUBLIC
UTILITIES NECESSARY OR CONVENIENT TO THE FULL USE AND ENJOYMENT OF THE PROPERTY
ARE LOCATED EITHER IN THE PUBLIC RIGHT-OF-WAY ABUTTING THE PROPERTY
103
(WHICH ARE CONNECTED SO AS TO SERVE THE PROPERTY WITHOUT PASSING OVER OTHER
PROPERTY) OR IN RECORDED EASEMENTS SERVING THE PROPERTY AND SUCH EASEMENTS ARE
SET FORTH IN AND INSURED BY THE TITLE INSURANCE POLICY.
ALL ROADS NECESSARY FOR
THE USE OF THE PROPERTY FOR ITS CURRENT PURPOSE HAVE BEEN COMPLETED AND
DEDICATED TO PUBLIC USE AND ACCEPTED BY ALL GOVERNMENTAL AUTHORITIES.
4.1.15.
NOT A FOREIGN PERSON.
BORROWER IS NOT A "FOREIGN PERSON" WITHIN THE
MEANING OF §1445(F)(3) OF THE CODE.
4.1.16.
SEPARATE LOTS.
THE PROPERTY IS COMPRISED OF ONE (1) OR MORE PARCELS
WHICH CONSTITUTE A SEPARATE TAX LOT OR LOTS AND DOES NOT CONSTITUTE A PORTION OF
ANY OTHER TAX LOT NOT A PART OF THE PROPERTY.
4.1.17.
ASSESSMENTS.
THERE ARE NO PENDING OR PROPOSED SPECIAL OR OTHER
ASSESSMENTS FOR PUBLIC IMPROVEMENTS OR OTHERWISE AFFECTING THE PROPERTY, NOR ARE
THERE ANY CONTEMPLATED IMPROVEMENTS TO THE PROPERTY THAT MAY RESULT IN SUCH
SPECIAL OR OTHER ASSESSMENTS.
4.1.18.
ENFORCEABILITY.
THE LOAN DOCUMENTS ARE NOT SUBJECT TO ANY RIGHT OF
RESCISSION, SET-OFF, COUNTERCLAIM OR DEFENSE BY ANY BORROWER PARTY, INCLUDING
THE DEFENSE OF USURY, NOR WOULD THE OPERATION OF ANY OF THE TERMS OF THE LOAN
DOCUMENTS, OR THE EXERCISE OF ANY RIGHT THEREUNDER, RENDER THE LOAN DOCUMENTS
UNENFORCEABLE (SUBJECT TO PRINCIPLES OF EQUITY AND BANKRUPTCY, INSOLVENCY AND
OTHER LAWS GENERALLY AFFECTING CREDITORS' RIGHTS AND THE ENFORCEMENT OF DEBTORS'
OBLIGATIONS), AND NO BORROWER PARTY HAS ASSERTED ANY RIGHT OF RESCISSION,
SET-OFF, COUNTERCLAIM OR DEFENSE WITH RESPECT THERETO.
4.1.19.
INSURANCE.
BORROWER HAS OBTAINED AND HAS DELIVERED TO LENDER
CERTIFICATES OF INSURANCE WITH RESPECT TO ALL POLICIES REFLECTING THE INSURANCE
COVERAGES, AMOUNTS AND OTHER