or has caused to be, delivered to Lender
true, complete and correct copies of all Mortgage Loan Documents, and none of
the Mortgage Loan Documents has been amended or modified as of the date thereof.
4.1.48
Condominium Representations.
The Properties described on Schedule 4.1.48 annexed hereto are subject to a
condominium regime.
4.1.49
Mortgage Loan Event of Default.
No Mortgage Loan Event of Default exists as of the date hereof.
83
Section 4.2
Survival of Representations.
Borrower agrees that all of the representations and warranties of Borrower set
forth in Section 4.1 and elsewhere in this Agreement and in the other Loan
Documents shall survive for so long as any amount remains owing to Lender under
this Agreement or any of the other Loan Documents by Borrower. All
representations, warranties, covenants and agreements made in this Agreement or
in the other Loan Documents by Borrower shall be deemed to have been relied upon
by Lender notwithstanding any investigation heretofore or hereafter made by
Lender or on its behalf.
V.
BORROWER COVENANTS
Section 5.1
Affirmative Covenants.
From the date hereof and until payment and performance in full of all
obligations of Borrower under the Loan Documents or the earlier release of the
Lien encumbering the Collateral (and all related obligations) in accordance with
the terms of this Agreement and the other Loan Documents, Borrower hereby
covenants and agrees with Lender that:
5.1.1
Existence; Compliance with Legal Requirements.
(A)
BORROWER SHALL DO OR CAUSE TO BE DONE ALL THINGS NECESSARY TO
PRESERVE, RENEW AND KEEP IN FULL FORCE AND EFFECT ITS EXISTENCE, RIGHTS,
LICENSES, PERMITS AND FRANCHISES, AND SHALL COMPLY, OR CAUSE MORTGAGE BORROWER
TO COMPLY IN ALL MATERIAL RESPECTS, WITH ALL LEGAL REQUIREMENTS APPLICABLE TO
IT, THE COLLATERAL, ANY MORTGAGE PRINCIPAL'S GENERAL PARTNER INTEREST IN THE
RELATED MORTGAGE BORROWER ENTITY AND THE PROPERTIES. THERE SHALL NEVER BE
COMMITTED BY BORROWER, AND BORROWER SHALL NOT PERMIT OR CAUSE MORTGAGE BORROWER
TO PERMIT ANY OTHER PERSON IN OCCUPANCY OF OR INVOLVED WITH THE OPERATION OR USE
OF THE PROPERTIES ANY ACT OR OMISSION AFFORDING THE FEDERAL GOVERNMENT OR ANY
STATE OR LOCAL GOVERNMENT THE RIGHT OF FORFEITURE AGAINST ANY INDIVIDUAL
PROPERTY OR ANY PART THEREOF OR ANY MONIES PAID IN PERFORMANCE OF BORROWER'S
OBLIGATIONS UNDER ANY OF THE LOAN DOCUMENTS. BORROWER HEREBY COVENANTS AND
AGREES NOT TO PERMIT OR CAUSE MORTGAGE BORROWER TO COMMIT, PERMIT OR SUFFER TO
EXIST ANY ACT OR OMISSION AFFORDING SUCH RIGHT OF FORFEITURE. BORROWER SHALL AT
ALL TIMES CAUSE MORTGAGE BORROWER TO MAINTAIN, PRESERVE AND PROTECT ALL MATERIAL
FRANCHISES AND TRADE NAMES AND PRESERVE ALL THE REMAINDER OF ITS PROPERTY USED
OR USEFUL IN THE CONDUCT OF ITS BUSINESS AND SHALL KEEP THE PROPERTIES IN GOOD
WORKING ORDER AND REPAIR, AND FROM TIME TO TIME MAKE, OR CAUSE TO BE MADE, ALL
REPAIRS, RENEWALS, REPLACEMENTS, BETTERMENTS AND IMPROVEMENTS THERETO REASONABLY
NECESSARY TO MAINTAIN EACH INDIVIDUAL PROPERTY AS A FIRST CLASS LUXURY
RESIDENTIAL APARTMENT BUILDING AND IN A CONDITION SIMILAR TO OTHER FIRST CLASS
LUXURY RESIDENTIAL APARTMENT BUILDINGS