UNDER THE EXCHANGE ACT IS RECORDED, PROCESSED, SUMMARIZED AND REPORTED WITHIN
THE TIME PERIODS SPECIFIED IN THE COMMISSION'S RULES AND FORMS.
(26)
ACCOUNTING CONTROLS. THE COMPANY AND ITS SUBSIDIARIES MAINTAIN A
SYSTEM OF INTERNAL CONTROL OVER FINANCIAL REPORTING SUFFICIENT TO PROVIDE
REASONABLE ASSURANCE THAT FINANCIAL REPORTING IS RELIABLE AND FINANCIAL
STATEMENTS FOR EXTERNAL PURPOSES ARE PREPARED IN ACCORDANCE WITH GAAP AND
INCLUDES POLICIES AND PROCEDURES
11
THAT (I) PERTAIN TO THE MAINTENANCE OF RECORDS THAT IN REASONABLE DETAIL
ACCURATELY AND FAIRLY REFLECT THE TRANSACTIONS AND DISPOSITIONS OF THE ASSETS OF
THE COMPANY; (II) PROVIDE REASONABLE ASSURANCE THAT TRANSACTIONS ARE RECORDED AS
NECESSARY TO PERMIT PREPARATION OF FINANCIAL STATEMENTS IN ACCORDANCE WITH GAAP,
AND TO MAINTAIN ASSET ACCOUNTABILITY; (III) ACCESS TO ASSETS IS PERMITTED ONLY
IN ACCORDANCE WITH MANAGEMENT'S GENERAL OR SPECIFIC AUTHORIZATION; AND (IV) THE
RECORDED ACCOUNTABILITY FOR ASSETS IS COMPARED WITH THE EXISTING ASSETS AT
REASONABLE INTERVALS AND APPROPRIATE ACTION IS TAKEN WITH RESPECT TO ANY
DIFFERENCES.
(27)
ABSENCE OF MANIPULATION. EACH OF THE COMPANY AND THE OPERATING
PARTNERSHIP HAS NOT TAKEN AND WILL NOT TAKE, DIRECTLY OR INDIRECTLY, ANY ACTION
DESIGNED TO OR THAT WOULD CONSTITUTE OR THAT MIGHT REASONABLY BE EXPECTED TO
CAUSE OR RESULT IN THE STABILIZATION OR MANIPULATION OF THE PRICE OF ANY
SECURITY TO FACILITATE THE SALE OR RESALE OF THE SHARES.
(28)
ERISA. EXCEPT AS SET FORTH IN THE COMPANY'S FINANCIAL STATEMENTS,
EACH OF THE COMPANY AND THE OPERATING PARTNERSHIP DOES NOT HAVE ANY MATERIAL
LIABILITIES UNDER THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS
AMENDED, OR SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED FROM
TIME TO TIME
(29)
REIT STATUS. COMMENCING WITH ITS TAXABLE YEAR ENDED DECEMBER 31,
2004, THE COMPANY HAS BEEN ORGANIZED AND OPERATED IN CONFORMITY WITH THE
REQUIREMENTS FOR QUALIFICATION AND TAXATION AS A REAL ESTATE INVESTMENT TRUST
("REIT") UNDER THE INTERNAL REVENUE CODE OF 1986, AS AMENDED, AND THE
REGULATIONS AND PUBLISHED INTERPRETATIONS THEREUNDER (COLLECTIVELY, THE "CODE"),
AND THE COMPANY'S CURRENT AND PROPOSED METHOD OF OPERATIONS AS DESCRIBED IN THE
PROSPECTUS WILL ENABLE IT TO CONTINUE TO MEET THE REQUIREMENTS FOR QUALIFICATION
AND TAXATION AS A REIT UNDER THE CODE.
(30)
TAX RETURNS. ALL TAX RETURNS REQUIRED TO BE FILED AS OF THE DATE
HEREOF BY THE COMPANY AND EACH OF IS SUBSIDIARIES HAVE BEEN TIMELY FILED (OR
VALID EXTENSIONS TO SUCH FILINGS HAVE BEEN OBTAINED), ALL SUCH TAX RETURNS ARE
TRUE, CORRECT AND COMPLETE IN ALL MATERIAL RESPECTS, AND ALL MATERIAL TAXES AND
OTHER ASSESSMENTS OF A SIMILAR NATURE (WHETHER IMPOSED DIRECTLY OR THROUGH
WITHHOLDING) INCLUDING ANY INTEREST, ADDITIONS TO TAX OR PENALTIES APPLICABLE
THERETO DUE OR CLAIMED TO BE DUE FROM SUCH ENTITIES HAVE BEEN PAID, OTHER THAN
THOSE BEING CONTESTED IN GOOD FAITH AND FOR WHICH ADEQUATE RESERVES HAVE BEEN
PROVIDED.
(31)
RELATED PARTY TRANSACTIONS. THERE ARE NO BUSINESS RELATIONSHIPS OR
RELATED-PARTY TRANSACTIONS INVOLVING THE COMPANY, THE OPERATING PARTNERSHIP OR
THE MANAGER REQUIRED TO BE DESCRIBED IN THE PROSPECTUS WHICH HAVE NOT BEEN SO
DESCRIBED AS REQUIRED.
(32)
NO