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.
(N)
ORGANIZATIONAL CHART. THE ORGANIZATIONAL CHART SET FORTH AS
SCHEDULE 7 ACCURATELY SETS FORTH THE DIRECT AND INDIRECT OWNERSHIP STRUCTURE OF
BORROWER.
(O)
NO DEFAULTS. NO DEFAULT OR EVENT OF DEFAULT EXISTS UNDER OR WITH
RESPECT TO ANY LOAN DOCUMENT.
(P)
PLANS AND WELFARE PLANS. THE ASSETS OF BORROWER ARE NOT TREATED AS
"PLAN ASSETS" UNDER REGULATIONS CURRENTLY PROMULGATED UNDER ERISA. NEITHER
BORROWER NOR ANY ERISA AFFILIATE SPONSORS, MAINTAINS, CONTRIBUTES TO OR IS
REQUIRED TO CONTRIBUTE TO ANY PLAN OR MULTIEMPLOYER PLAN NOR HAS THE BORROWER OR
ANY ERISA AFFILIATE SPONSORED, MAINTAINED, CONTRIBUTED TO OR BEEN REQUIRED TO
CONTRIBUTE TO ANY PLAN OR MULTIEMPLOYER PLAN WITHIN THE PAST SIX YEARS. THERE
ARE NO PENDING ISSUES OR CLAIMS BEFORE THE INTERNAL REVENUE SERVICE, THE UNITED
STATES DEPARTMENT OF LABOR OR ANY COURT OF COMPETENT JURISDICTION RELATED TO ANY
PLAN OR WELFARE PLAN. NO EVENT HAS OCCURRED, AND THERE EXISTS NO CONDITION OR
SET OF CIRCUMSTANCES, IN CONNECTION WITH ANY PLAN OR WELFARE PLAN UNDER WHICH
BORROWER OR, TO THE BEST KNOWLEDGE OF BORROWER, ANY ERISA AFFILIATE, DIRECTLY OR
INDIRECTLY (THROUGH AN INDEMNIFICATION AGREEMENT OR OTHERWISE), IS REASONABLY
LIKELY TO BE SUBJECT TO ANY MATERIAL RISK OF LIABILITY UNDER SECTION 409 OR
502(I) OF
69
ERISA or Section 4975 of the Code. No Welfare Plan provides or will provide
benefits, including, without limitation, death or medical benefits (whether or
not insured) with respect to any current or former employee of Borrower, or, to
the best knowledge of Borrower, any ERISA Affiliate beyond his or her retirement
or other termination of service other than (i) coverage mandated by applicable
law, (ii) death or disability benefits that have been fully provided for by
fully paid up insurance or (iii) severance benefits.
(Q)
ADDITIONAL BORROWER UCC INFORMATION. BORROWER'S ORGANIZATIONAL
IDENTIFICATION NUMBERS ARE 4170432 (ARCML06 LLC), 3750361 (ARC18TX LP), 3743925
(ARC18FLD LLC), 3743937 (ARC18FLSH LLC), 4170427 (ARCFLMC LLC) AND 4170419
(ARCFLSV LLC) AND THE FULL LEGAL NAME OF BORROWER IS AS SET FORTH ON THE
SIGNATURE PAGES HEREOF AND BORROWER HAS NOT DONE IN THE LAST FIVE (5) YEARS, AND
DOES NOT DO, BUSINESS UNDER ANY OTHER NAME (INCLUDING ANY TRADE-NAME OR
FICTITIOUS BUSINESS NAME).
(R)
NOT FOREIGN PERSON. BORROWER IS NOT A "FOREIGN PERSON" WITHIN THE
MEANING OF § 1445(F)(3) OF THE CODE.
(S)
LABOR MATTERS. BORROWER IS NOT A PARTY TO ANY COLLECTIVE
BARGAINING AGREEMENTS.
(T)
PRE-CLOSING DATE ACTIVITIES. BORROWER HAS NOT CONDUCTED ANY
BUSINESS OR OTHER ACTIVITY ON OR PRIOR TO THE CLOSING DATE, OTHER THAN IN
CONNECTION WITH THE ACQUISITION, MANAGEMENT AND OWNERSHIP OF THE MORTGAGED
PROPERTY.
(U)
NO BANKRUPTCIES OR CRIMINAL PROCEEDINGS INVOLVING BORROWER OR
RELATED PARTIES. NO BANKRUPTCY, INSOLVENCY, REORGANIZATION OR COMPARABLE
PROCEEDINGS HAVE EVER BEEN INSTITUTED BY OR AGAINST BORROWER, ANY AFFILIATE OF
BORROWER, ANY GUARANTOR OR ANY INDIVIDUAL OR ENTITY OWNING, WITH HIS, HER OR ITS
FAMILY MEMBERS,