ASSESSMENTS FOR PUBLIC IMPROVEMENTS OR
OTHERWISE AFFECTING THE PROPERTY, NOR ARE THERE ANY CONTEMPLATED IMPROVEMENTS TO
THE PROPERTY THAT MAY RESULT IN SUCH SPECIAL OR OTHER ASSESSMENTS.
(H)
NO JOINT ASSESSMENT; SEPARATE LOTS.
BORROWER HAS NOT SUFFERED,
PERMITTED OR INITIATED THE JOINT ASSESSMENT OF THE PROPERTY (I) WITH ANY OTHER
REAL PROPERTY CONSTITUTING A SEPARATE TAX LOT, AND (II) WITH ANY PORTION OF THE
PROPERTY WHICH MAY BE DEEMED TO CONSTITUTE PERSONAL PROPERTY, OR ANY OTHER
PROCEDURE WHEREBY THE LIEN OF ANY TAXES WHICH MAY BE LEVIED AGAINST SUCH
PERSONAL PROPERTY SHALL BE ASSESSED OR LEVIED OR CHARGED TO THE PROPERTY AS A
SINGLE LIEN. THE PROPERTY IS COMPRISED OF ONE OR MORE PARCELS, EACH OF WHICH
CONSTITUTES A SEPARATE TAX LOT AND NONE OF WHICH CONSTITUTES A PORTION OF ANY
OTHER TAX LOT.
(I)
NO PRIOR ASSIGNMENT.
THE AGENT IS THE COLLATERAL ASSIGNEE OF
BORROWER'S INTEREST UNDER THE LEASES. THERE ARE NO PRIOR ASSIGNMENTS OF THE
LEASES OR ANY PORTION OF THE RENT DUE AND PAYABLE OR TO BECOME DUE AND PAYABLE
WHICH ARE PRESENTLY OUTSTANDING.
(J)
PERMITS; CERTIFICATE OF OCCUPANCY.
BORROWER HAS OBTAINED ALL
PERMITS NECESSARY TO THE USE AND OPERATION OF THE PROPERTY EXCEPT WHERE THE
FAILURE TO OBTAIN SUCH PERMITS IS NOT REASONABLY LIKELY TO HAVE A MATERIAL
ADVERSE EFFECT. THE USE BEING MADE OF THE PROPERTY IS IN CONFORMITY WITH THE
CERTIFICATE OF OCCUPANCY AND/OR SUCH PERMITS FOR THE PROPERTY AND ANY OTHER
RESTRICTIONS, COVENANTS OR CONDITIONS AFFECTING THE PROPERTY, EXCEPT FOR
NON-CONFORMITY WHICH IS NOT REASONABLY LIKELY TO RESULT IN A MATERIAL ADVERSE
EFFECT.
(K)
FLOOD ZONE.
EXCEPT AS SHOWN ON THE SURVEY, THE PROPERTY DESCRIBED
THEREIN IS NOT LOCATED IN A FLOOD HAZARD AREA AS DEFINED BY THE FEDERAL
INSURANCE ADMINISTRATION.
(L)
PHYSICAL CONDITION.
EXCEPT AS SET FORTH IN THE ENGINEERING
REPORT, TO THE BEST KNOWLEDGE OF BORROWER, THE PROPERTY IS FREE OF STRUCTURAL
DEFECTS AND ALL BUILDING SYSTEMS CONTAINED THEREIN ARE IN GOOD WORKING ORDER
SUBJECT TO ORDINARY WEAR AND TEAR.
(M)
SECURITY DEPOSITS.
BORROWER AND THE MANAGER ARE IN COMPLIANCE WITH
ALL LEGAL REQUIREMENTS RELATING TO ALL SECURITY DEPOSITS WITH RESPECT TO THE
PROPERTY, EXCEPT WHERE THE FAILURE TO COMPLY IS NOT REASONABLY LIKELY TO RESULT
IN A MATERIAL ADVERSE EFFECT.
(N)
INTELLECTUAL PROPERTY.
ALL MATERIAL INTELLECTUAL PROPERTY THAT
BORROWER OWNS OR HAS PENDING, OR UNDER WHICH IT IS LICENSED, ARE IN GOOD
STANDING AND UNCONTESTED. THERE IS NO RIGHT UNDER ANY INTELLECTUAL PROPERTY
NECESSARY TO THE BUSINESS OF BORROWER AS PRESENTLY CONDUCTED OR AS BORROWER
CONTEMPLATES CONDUCTING ITS BUSINESS. BORROWER HAS NOT INFRINGED, IS NOT
INFRINGING, AND HAS NOT RECEIVED NOTICE OF INFRINGEMENT WITH RESPECT TO ASSERTED
TRADEMARKS OF OTHERS. THERE IS NO INFRINGEMENT BY OTHERS OF MATERIAL
INTELLECTUAL PROPERTY OF BORROWER.
(O)
NO ENCROACHMENTS.
EXCEPT AS SHOWN ON THE SURVEY, TO THE BEST
KNOWLEDGE OF BORROWER, (I) ALL OF THE IMPROVEMENTS WHICH WERE INCLUDED IN
DETERMINING THE
69
APPRAISED VALUE OF THE PROPERTY LIE WHOLLY WITHIN THE BOUNDARIES AND BUILDING
RESTRICTION LINES OF THE PROPERTY, (II) NO IMPROVEMENTS