PROPERTY AS OF THE DATE HEREOF.
11.1.7
COMPLIANCE.
SELLER HAS NOT RECEIVED WRITTEN NOTICE FROM ANY
GOVERNMENTAL AUTHORITY THAT THE PROPERTY IS NOT IN MATERIAL COMPLIANCE WITH ALL
APPLICABLE LAWS, INCLUDING, BUT NOT LIMITED TO, THE RULES AND REGULATIONS OF THE
NEW JERSEY COUNSEL ON AFFORDABLE HOUSING RELATING TO AFFORDABLE HOUSING FOR LOW
AND MODERATE INCOME
18
HOUSEHOLDS WHICH IS APPLICABLE TO 36 APARTMENT UNITS ON THE PROPERTY, EXCEPT FOR
SUCH FAILURES TO COMPLY, IF ANY, WHICH HAVE BEEN REMEDIED.
11.1.8
EMPLOYEES.
SELLER HAS NO EMPLOYEES ON-SITE AT THE PROPERTY PROVIDING
ON-SITE SERVICES TO THE PROPERTY AND ALL SUCH SERVICES ARE PERFORMED BY SELLER'S
THIRD PARTY MANAGER OF THE PROPERTY.
11.1.9
LITIGATION.
TO THE EXTENT OF SELLER'S ACTUAL KNOWLEDGE, THERE IS NO
LEGAL ACTION, SUIT, PROCEEDING OR CLAIM AFFECTING SELLER OR THE LAND,
IMPROVEMENTS OR PERSONAL PROPERTY OR ANY PORTION THEREOF RELATING TO OR ARISING
OUT OF THE OWNERSHIP, OPERATION, USE OR OCCUPANCY OF THE PROPERTY BEING
PROSECUTED IN ANY COURT OR BY OR BEFORE ANY FEDERAL, STATE, COUNTY OR MUNICIPAL
DEPARTMENT, COMMISSION, BOARD, BUREAU OR AGENCY OR OTHER GOVERNMENTAL
INSTRUMENTALITY.
11.1.10
SPECIAL ASSESSMENTS.
SELLER HAS RECEIVED NO WRITTEN NOTICE OF ANY
PENDING IMPROVEMENT LIENS OR SPECIAL ASSESSMENTS TO BE MADE AGAINST THE PROPERTY
BY ANY GOVERNMENTAL AUTHORITY.
11.1.11
LEASES.
BASED ON INFORMATION PROVIDED BY SELLER'S PROPERTY MANAGER AND
TO SELLER'S ACTUAL KNOWLEDGE, THE RENT ROLL LISTS ALL LEASES AFFECTING THE LAND
AND IMPROVEMENTS OTHER THAN THOSE LEASES ENTERED INTO BY SELLER SUBSEQUENT TO
THE EFFECTIVE DATE, AND IS THE RENT ROLL USED IN THE ORDINARY COURSE OF
BUSINESS, AND IS TRUE AND CORRECT.
11.1.12
NO CONTRACTS.
THERE ARE NO OPTIONS, CONTRACTS OR OTHER OBLIGATIONS
OUTSTANDING FOR THE SALE, EXCHANGE OR TRANSFER OF THE PROPERTY OR ANY PORTION
THEREOF OR THE BUSINESS OPERATED THEREON.
11.1.13
ENVIRONMENTAL ISSUES.
SELLER HAS NOT RECEIVED ANY WRITTEN NOTICE OF
AND HAS NO ACTUAL KNOWLEDGE THAT ANY GOVERNMENTAL AUTHORITY OR ANY EMPLOYEE OR
AGENT THEREOF HAS DETERMINED, OR THREATENS TO DETERMINE, THAT THERE IS A
PRESENCE, RELEASE, THREAT OF RELEASE, PLACEMENT ON OR IN THE PROPERTY, OF ANY
POLLUTANTS. SELLER HAS NOT ENTERED INTO ANY AGREEMENTS WITH ANY GOVERNMENTAL
AUTHORITY OR AGENCY (FEDERAL, STATE OR LOCAL) OR ANY TENANT OR PRIOR OWNER OF
THE PROPERTY OR ANY OWNER OF ANY PROPERTY LOCATED NEAR THE PROPERTY, RELATING IN
ANY WAY TO THE PRESENCE, RELEASE, THREAT OF RELEASE, PLACEMENT ON OR IN THE
PROPERTY, OR THE GENERATION, TRANSPORTATION, STORAGE, TREATMENT, OR DISPOSAL AT
THE PROPERTY, OF ANY POLLUTANTS.
FOR PURPOSES HEREOF, "POLLUTANTS" SHALL MEAN
ASBESTOS, PCB AND ANY SUBSTANCE THAT IS DEFINED OR LISTED AS A HAZARDOUS, TOXIC
OR DANGEROUS SUBSTANCE UNDER ANY EXISTING STATUTE, INCLUDING, WITHOUT
LIMITATION, ANY SUBSTANCE THAT IS A "HAZARDOUS SUBSTANCE" UNDER THE
COMPREHENSIVE ENVIRONMENTAL RESPONSE, COMPENSATION AND LIABILITY ACT OF 1980, AS
AMENDED BY THE SUPERFUND AMENDMENTS AND REAUTHORIZATION ACT OF 1986, AS THE SAME
BE FURTHER AMENDED, PETROLEUM, NATURAL GAS, NATURAL GAS LIQUIDS, LIQUEFIED
NATURAL GAS, AND SYNTHETIC GAS USABLE FOR FUEL, AND ANY MATERIALS REGULATED BY
NEW JERSEY LAW.