AS AMENDED; OR
(III) SUBJECT TO ANY OTHER FEDERAL OR STATE LAW OR REGULATION WHICH PURPORTS TO
RESTRICT OR REGULATE ITS ABILITY TO BORROW MONEY.
4.14
EASEMENTS; UTILITIES AND PUBLIC ACCESS. TO BORROWER'S BEST
KNOWLEDGE, ALL EASEMENTS, CROSS EASEMENTS, LICENSES, AIR RIGHTS AND
RIGHTS-OF-WAY OR OTHER SIMILAR PROPERTY INTERESTS (COLLECTIVELY, "EASEMENTS"),
IF ANY, NECESSARY FOR THE FULL UTILIZATION OF THE IMPROVEMENTS FOR THEIR
INTENDED PURPOSES HAVE BEEN OBTAINED, ARE DESCRIBED IN THE TITLE INSURANCE
POLICY AND ARE IN FULL FORCE AND EFFECT WITHOUT DEFAULT THEREUNDER. TO
BORROWER'S BEST KNOWLEDGE, THE PROPERTY HAS RIGHTS OF ACCESS TO PUBLIC WAYS AND
IS SERVED BY WATER, SEWER, SANITARY SEWER AND STORM DRAIN FACILITIES ADEQUATE TO
SERVICE IT FOR ITS INTENDED USES. TO BORROWER'S BEST KNOWLEDGE, ALL PUBLIC
UTILITIES NECESSARY OR CONVENIENT TO THE FULL USE AND ENJOYMENT OF THE PROPERTY
ARE LOCATED IN THE PUBLIC RIGHT-OF-WAY ABUTTING THE PROPERTY, AND ALL SUCH
UTILITIES ARE CONNECTED SO AS TO SERVE THE PROPERTY WITHOUT PASSING OVER OTHER
PROPERTY ABSENT A VALID EASEMENT. TO BORROWER'S BEST KNOWLEDGE, 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.
4.15
PHYSICAL CONDITION. TO BORROWER'S BEST KNOWLEDGE, THE PROPERTY,
INCLUDING ALL IMPROVEMENTS, PARKING FACILITIES, SYSTEMS, EQUIPMENT AND
LANDSCAPING, ARE IN GOOD CONDITION, ORDER AND REPAIR IN ALL MATERIAL RESPECTS;
TO BORROWER'S KNOWLEDGE, THERE EXISTS NO STRUCTURAL OR OTHER MATERIAL DEFECT OR
DAMAGES TO THE PROPERTY, WHETHER LATENT OR OTHERWISE. BORROWER HAS NOT RECEIVED
NOTICE FROM ANY INSURANCE COMPANY OR BONDING COMPANY OF ANY DEFECT OR INADEQUACY
IN THE PROPERTY, OR ANY PART THEREOF, WHICH WOULD ADVERSELY AFFECT ITS
INSURABILITY OR CAUSE THE
31
IMPOSITION OF EXTRAORDINARY PREMIUMS OR CHARGES THEREON OR ANY TERMINATION OF
ANY POLICY OF INSURANCE OR BOND. NO PORTION OF THE PROPERTY IS LOCATED IN AN
AREA AS IDENTIFIED BY THE FEDERAL EMERGENCY MANAGEMENT AGENCY AS AN AREA HAVING
SPECIAL FLOOD HAZARDS. TO BORROWER'S BEST KNOWLEDGE, THE IMPROVEMENTS HAVE
SUFFERED NO MATERIAL CASUALTY OR DAMAGE WHICH HAS NOT BEEN FULLY REPAIRED AND
THE COST THEREOF FULLY PAID.
4.16
LEASES. TO BORROWER'S BEST KNOWLEDGE, THE RENT ROLL ATTACHED HERETO
AS SCHEDULE 3 (THE "RENT ROLL") IS TRUE, COMPLETE AND CORRECT AND THE PROPERTY
IS NOT SUBJECT TO ANY LEASES OTHER THAN THE LEASES DESCRIBED IN THE RENT ROLL.
TO BORROWER'S BEST KNOWLEDGE, EXCEPT AS SET FORTH ON THE RENT ROLL OR TENANT
ESTOPPEL CERTIFICATES DELIVERED TO LENDER PRIOR TO THE DATE HEREOF: (I) EACH
LEASE IS IN FULL FORCE AND EFFECT; (II) THE TENANTS UNDER THE LEASES HAVE
ACCEPTED POSSESSION OF AND ARE IN OCCUPANCY OF ALL OF THEIR RESPECTIVE DEMISED
PREMISES, HAVE COMMENCED THE PAYMENT OF RENT UNDER THE LEASES, AND THERE ARE NO
OFFSETS, CLAIMS OR DEFENSES TO THE ENFORCEMENT THEREOF; (III) ALL RENTS DUE AND
PAYABLE UNDER THE LEASES HAVE BEEN PAID AND NO PORTION THEREOF HAS BEEN PAID FOR
ANY PERIOD MORE THAN THIRTY (30) DAYS IN ADVANCE; (IV) THE RENT PAYABLE UNDER
EACH LEASE