SELLER IN LIEU OF RETAIL SIGNAGE.
ALL SUMS DUE AND PAYABLE BY SELLER UNDER
THE DECLARATIONS AS OF THE CLOSING HAVE BEEN PAID IN FULL PRIOR TO THE CLOSING.
14.
DESIGNATION; FLOOD ZONE.
THE PROPERTY IS
NOT LOCATED IN ANY CONSERVATION OR HISTORIC DISTRICT, OR IN AN AREA THAT HAS
BEEN IDENTIFIED BY THE SECRETARY OF HOUSING AND URBAN DEVELOPMENT AS AN AREA
HAVING SPECIAL FLOOD HAZARDS.
15.
INSURANCE.
SELLER HAS NOT RECEIVED WRITTEN
NOTICE OR DEMAND FROM ANY OF THE INSURERS OF ALL OR ANY PORTION OF THE PROPERTY
(OR INSURERS OF ANY ACTIVITIES CONDUCTED THEREON) TO CORRECT OR CHANGE ANY
PHYSICAL CONDITION ON THE PROPERTY OR ANY PRACTICE OF SELLER.
SELLER OR THE
CONDOMINIUM BOARDS (OR EITHER OF THEM) IS IN COMPLIANCE WITH THE REQUIREMENTS OF
ALL INSURANCE POLICIES AFFECTING ALL OR ANY PORTION OF THE PROPERTY, WHICH
POLICIES ARE SET FORTH ON SCHEDULE 8 (THE "EXISTING INSURANCE POLICIES").
16.
EXPANSION OF PROPERTY.
SELLER HAS NOT MADE
WRITTEN APPLICATION TO ANY GOVERNMENTAL AUTHORITY FOR ANY EXPANSION OR FURTHER
DEVELOPMENT OF THE PROPERTY, AND SELLER
4
HAS RECEIVED NO WRITTEN NOTICE THAT ANY EXPANSION OR FURTHER DEVELOPMENT OF THE
PROPERTY IS SUBJECT TO ANY RESTRICTIONS OR CONDITIONS EXCEPT AS SET FORTH IN THE
DECLARATIONS AND LOCAL ZONING LAW REQUIREMENTS.
17.
ACCESS.
SELLER HAS RECEIVED NO NOTICE FROM
ANY GOVERNMENTAL AUTHORITY, PRIVATE PARTY OR OTHER ENTITY RESPONSIBLE THEREFOR
OF ANY FACT OR CONDITION THAT WOULD RESULT IN THE TERMINATION OF (A) UNIMPAIRED
VEHICULAR AND PEDESTRIAN ACCESS FROM THE PROPERTY TO PRESENTLY EXISTING PUBLIC
ROADS OR (B) ACCESS FROM THE PROPERTY TO EXISTING SEWER OR OTHER UTILITY
FACILITIES SERVICING, ADJOINING OR SITUATED ON THE PROPERTY.
18.
NOTICES REGARDING RESTRICTIONS.
SELLER HAS
RECEIVED NO NOTICE FROM ANY GOVERNMENTAL AUTHORITY OR ENTITY RESPONSIBLE
THEREFOR OF (A) ANY PENDING OR CONTEMPLATED CHANGE IN ANY FEDERAL, STATE OR
LOCAL GOVERNMENTAL OR PRIVATE RESTRICTION APPLICABLE TO THE PROPERTY OR (B) ANY
PENDING OR THREATENED JUDICIAL OR ADMINISTRATIVE ACTION OR (C) ANY ACTION
PENDING OR THREATENED BY ADJACENT LAND OWNERS OR OTHER PERSONS, WHICH WOULD
RESULT IN A MATERIAL CHANGE IN THE CONDITION OF THE PROPERTY OR ANY PART THEREOF
OR IN ANY WAY PREVENT OR MATERIALLY LIMIT THE CONSTRUCTION AND/OR OPERATION OF
THE IMPROVEMENTS OR ANY PART THEREOF.
19.
IMPROVEMENTS.
EXCEPT AS DISCLOSED IN THAT
CERTAIN PROPERTY CONDITION ASSESSMENT PERTAINING TO THE PROPERTY PREPARED BY
PROPERTY SOLUTIONS INC. AND DATED FEBRUARY 4, 2009, THE IMPROVEMENTS AND
EQUIPMENT (AS DEFINED IN THE LEASE) ARE IN GOOD CONDITION AND REPAIR AND THERE
ARE NO KNOWN MATERIAL PHYSICAL OR MECHANICAL DEFECTS IN THE IMPROVEMENTS,
INCLUDING WITHOUT LIMITATION THE ROOF, THE STRUCTURAL COMPONENTS, THE PLUMBING,
HEATING, VENTILATION, AIR CONDITIONING, ELEVATORS, FIRE DETECTION AND ELECTRICAL
SYSTEMS.
ALL SUCH ITEMS ARE IN GOOD OPERATING CONDITION AND REPAIR.
THERE IS
NO ACTUAL OR, TO SELLER'S KNOWLEDGE, THREATENED SETTLEMENT, EARTH MOVEMENT,
TERMITE INFESTATION OR DAMAGE AFFECTING THE PROPERTY.
20.
CONDEMNATION, ETC.
SELLER HAS NOT RECEIVED
NOTICE OF ANY CONDEMNATION PROCEEDINGS, OTHER THAN NEW YORK STATE URBAN
DEVELOPMENT CORP., PLAINTIFF, VS. 42ND ST.
DEVELOPMENT