OF SUCH ENTITY AND
ITS SUBSIDIARIES IN CONNECTION WITH THE PROJECTS IN VIOLATION OF OR IN AMOUNTS
OR IN A MANNER THAT COULD GIVE RISE TO LIABILITY UNDER ENVIRONMENTAL LAWS.
6.20.
UNENCUMBERED ASSETS. SCHEDULE 3 HERETO CONTAINS A
COMPLETE AND ACCURATE DESCRIPTION OF UNENCUMBERED ASSETS AS OF THE CLOSING DATE
AND AS SUPPLEMENTED FROM TIME TO TIME IN CONNECTION WITH THE DELIVERY OF A
COMPLIANCE CERTIFICATE PURSUANT TO SECTION 7.1 HEREOF, INCLUDING THE ENTITY THAT
OWNS EACH UNENCUMBERED ASSET. ANY SUPPLEMENTS IN CONNECTION WITH THE DELIVERY OF
A COMPLIANCE CERTIFICATE SHALL SPECIFICALLY HIGHLIGHT THE CHANGES IN SCHEDULE 3.
WITH RESPECT TO EACH PROJECT IDENTIFIED FROM TIME TO TIME AS AN UNENCUMBERED
ASSET, EXCEPT TO THE EXTENT DISCLOSED IN WRITING TO THE LENDERS AND APPROVED BY
THE REQUIRED LENDERS (WHICH APPROVAL SHALL NOT BE UNREASONABLY WITHHELD),
BORROWER HEREBY REPRESENTS AND WARRANTS AS FOLLOWS EXCEPT TO THE EXTENT THE
FAILURE OF SUCH REPRESENTATION AND WARRANTY TO BE TRUE WOULD NOT MATERIALLY
ADVERSELY AFFECT THE USE AND OPERATION OF SUCH PROJECT FOR ITS INTENDED USE OR
ITS MARKETABILITY OR VALUE:
34
6.20.1
NO PORTION OF ANY IMPROVEMENT ON THE UNENCUMBERED ASSET
IS LOCATED IN AN AREA IDENTIFIED BY THE SECRETARY OF HOUSING AND URBAN
DEVELOPMENT OR ANY SUCCESSOR THERETO AS AN AREA HAVING SPECIAL FLOOD HAZARDS
PURSUANT TO THE NATIONAL FLOOD INSURANCE ACT OF 1968 OR THE FLOOD DISASTER
PROTECTION ACT OF 1973, AS AMENDED, OR ANY SUCCESSOR LAW, OR, IF LOCATED WITHIN
ANY SUCH AREA, BORROWER HAS OBTAINED AND WILL MAINTAIN THE INSURANCE PRESCRIBED
IN SECTION 7.6 HEREOF.
6.20.2
TO THE BORROWER'S KNOWLEDGE, THE UNENCUMBERED ASSET AND
THE PRESENT USE AND OCCUPANCY THEREOF ARE IN MATERIAL COMPLIANCE WITH ALL
APPLICABLE ZONING ORDINANCES (WITHOUT RELIANCE UPON ADJOINING OR OTHER
PROPERTIES EXCEPT TO THE EXTENT ALLOWED BY APPLICABLE LAWS), BUILDING CODES,
LAND USE AND ENVIRONMENTAL LAWS, AND OTHER SIMILAR LAWS ("APPLICABLE LAWS").
6.20.3
THE UNENCUMBERED ASSET IS SERVED BY ALL UTILITIES
REQUIRED FOR THE CURRENT OR CONTEMPLATED USE THEREOF. ALL UTILITY SERVICE IS
PROVIDED BY PUBLIC UTILITIES AND THE UNENCUMBERED ASSET HAS ACCEPTED OR IS
EQUIPPED TO ACCEPT SUCH UTILITY SERVICE.
6.20.4
ALL PUBLIC ROADS AND STREETS NECESSARY FOR SERVICE OF
AND ACCESS TO THE UNENCUMBERED ASSET FOR THE CURRENT OR CONTEMPLATED USE THEREOF
HAVE BEEN COMPLETED, ARE SERVICEABLE AND ALL-WEATHER AND ARE PHYSICALLY AND
LEGALLY OPEN FOR USE BY THE PUBLIC.
6.20.5
THE UNENCUMBERED ASSET IS SERVED BY PUBLIC WATER AND
SEWER SYSTEMS OR, IF THE UNENCUMBERED ASSET IS NOT SERVICED BY A PUBLIC WATER
AND SEWER SYSTEM, SUCH ALTERNATE SYSTEMS ARE ADEQUATE AND MEET, IN ALL MATERIAL
RESPECTS, ALL REQUIREMENTS AND REGULATIONS OF, AND OTHERWISE COMPLIES IN ALL
MATERIAL RESPECTS WITH, ALL APPLICABLE LAWS WITH RESPECT TO SUCH ALTERNATE
SYSTEMS.
6.20.6
BORROWER IS NOT AWARE OF ANY LATENT OR PATENT STRUCTURAL
OR OTHER SIGNIFICANT DEFICIENCY OF THE UNENCUMBERED ASSET. THE UNENCUMBERED
ASSET IS FREE OF DAMAGE AND WASTE THAT WOULD MATERIALLY AND ADVERSELY AFFECT THE
VALUE OF THE UNENCUMBERED ASSET OTHER THAN DAMAGE WHICH HAS BEEN COVERED BY
INSURANCE, IS IN