(VIII)
A MORTGAGED PROPERTY THAT IS ENCUMBERED BY FINANCING THAT IS
SUBORDINATE TO THE BOND MORTGAGE, WHICH SUBORDINATE FINANCING DOES NOT MEET THE
STANDARDS AS SET FORTH ON SCHEDULE I FOR "SOFT" SUBORDINATE FINANCING, EXCEPT IF
IDENTIFIED ON THE DATA TAPE AS HAVING "HARD" SUBORDINATE FINANCING (IN WHICH
CASE THE DEBT SERVICE PAYMENTS REQUIRED UNDER SUCH SUBORDINATE DEBT INSTRUMENTS
ARE INCLUDED IN THE RELATED DEBT SERVICE COVERAGE RATIO ON THE DATA TAPE).
(Z)
TITLE INSURANCE.
THERE ARE NO CONDITIONS OR ENCUMBRANCES THAT
HAVE NOT BEEN DISCLOSED TO THE TITLE INSURER AND THAT THE TITLE INSURER COULD
CITE AS GROUNDS FOR REFUSING TO HONOR A CLAIM.
(AA)
SURVEY.
THE SURVEY DELIVERED TO SERVICER IN ACCORDANCE WITH THE
SERVICER'S INSTITUTIONAL UNDERWRITING STANDARDS AS OF THE ISSUANCE DATE FOR THE
RELATED BONDS CORRECTLY DEPICTS FOR THE MORTGAGED PROPERTY THE BOUNDARY LINES,
IMPROVEMENTS AND EXCEPTIONS TO TITLE THAT CAN BE SHOWN ON A SURVEY REQUIRED TO
BE SHOWN ON A SURVEY UNDER THE ALTA/ACSM REQUIREMENTS FOR URBAN SURVEYS.
(BB)
SINGLE TAX PARCEL.
THE MORTGAGED PROPERTY CONSISTS OF PROPERTY
IDENTIFIED AS ALL OF A SINGLE TAX PARCEL OR, IF IDENTIFIED AS MULTIPLE TAX
PARCELS, THE MORTGAGED PROPERTY CONSTITUTES THE ENTIRETY OF THOSE TAX PARCELS.
ANY TAX PARCEL OR PARCELS WITHIN WHICH THE MORTGAGED PROPERTY IS LOCATED DOES
NOT INCLUDE PROPERTY THAT IS NOT SUBJECT TO THE BOND MORTGAGE.
(CC)
ACCESS.
THE MORTGAGED PROPERTY DOES NOT SHARE INGRESS AND EGRESS
THROUGH AN EASEMENT OR PRIVATE ROAD, OR SHARE ON-SITE OR OFF-SITE RECREATIONAL
FACILITIES AND AMENITIES THAT ARE NOT LOCATED ON THE MORTGAGED PROPERTY AND
UNDER THE EXCLUSIVE CONTROL OF THE OWNER; OR WHERE THERE IS SHARED INGRESS AND
EGRESS OR AMENITIES, THERE EXISTS AN EASEMENT OR JOINT USE AND MAINTENANCE
AGREEMENT, AND SUCH AGREEMENT (I) PROVIDES THAT ACCESS TO AND USE AND ENJOYMENT
OF THE EASEMENT OR PRIVATE ROAD AND/OR RECREATIONAL FACILITIES AND AMENITIES IS
PERPETUAL, (II) SPECIFIES THE OWNER'S RESPONSIBILITIES AND SHARE OF EXPENSES,
AND (III) STATES THAT THE FAILURE TO PAY ANY MAINTENANCE FEE WILL NOT RESULT IN
A LOSS OF USAGE OF THE EASEMENT.
IN ADDITION, THE OWNER'S SHARE OF EXPENSES WAS
TAKEN INTO ACCOUNT IN CONNECTION WITH THE UNDERWRITING OF THE MORTGAGED
PROPERTY.
(DD)
ZONING.
THE OVERALL CHARACTER OF THE EXISTING USE OF THE MORTGAGED
PROPERTY IS CONSISTENT WITH THE ZONING CLASSIFICATION OF THE MORTGAGED PROPERTY,
EXCEPT TO THE EXTENT SUCH USE MAY CONSTITUTE A LEGAL NONCONFORMING USE.
ANY
EXISTING VIOLATION OF
20
APPLICABLE ZONING LAW WOULD NOT HAVE A MATERIALLY ADVERSE EFFECT ON THE
OPERATIONS OR THE VALUE OF THE MORTGAGED PROPERTY, AND RECONSTRUCTION OF THE
MORTGAGED PROPERTY IN ITS CURRENT CONFIGURATION WOULD BE PERMITTED BY APPLICABLE
ZONING LAWS FOLLOWING DESTRUCTION OF PART OR ALL OF THE MORTGAGED PROPERTY BY
FIRE OR OTHER CASUALTY OR, IN LIEU THEREOF, BUILDING LAW AND ORDINANCE INSURANCE
COVERAGE SATISFYING THE REQUIREMENTS OF THE GUIDE AS OF THE CLOSING DATE HAS
BEEN PROVIDED.
NO PROCEEDINGS ARE PENDING THAT WOULD RESULT IN A CHANGE OF THE
ZONING OF THE MORTGAGED PROPERTY.
(EE)
BOND INFORMATION.
THE INFORMATION