SUBSIDIARY HOLDS THE LESSOR'S
INTEREST OR OTHER AGREEMENTS RELATING TO POSSESSORY INTERESTS, IF ANY. TO THE
EXTENT ANY OF THE FOREGOING AFFECT ANY MORTGAGED PROPERTY, SUCH AGREEMENT SHALL
BE SUBORDINATE TO THE LIEN OF THE MORTGAGE TO BE RECORDED AGAINST SUCH MORTGAGED
PROPERTY, EITHER EXPRESSLY BY ITS TERMS OR PURSUANT TO A SUBORDINATION,
NON-DISTURBANCE AND ATTORNMENT AGREEMENT, AND SHALL OTHERWISE BE REASONABLY
ACCEPTABLE TO THE COLLATERAL AGENT;
(VII)
WITH RESPECT TO EACH MORTGAGED PROPERTY, EACH LOAN PARTY SHALL HAVE MADE
ALL NOTIFICATIONS, REGISTRATIONS AND FILINGS, TO THE EXTENT REQUIRED BY, AND IN
ACCORDANCE WITH, ALL GOVERNMENTAL REAL PROPERTY DISCLOSURE REQUIREMENTS
APPLICABLE TO SUCH MORTGAGED PROPERTY;
(VIII)
SURVEYS WITH RESPECT TO EACH MORTGAGED PROPERTY;
(IX)
A COMPLETED FEDERAL EMERGENCY MANAGEMENT AGENCY STANDARD FLOOD HAZARD
DETERMINATION WITH RESPECT TO EACH MORTGAGED PROPERTY;
94
(X)
WITH RESPECT TO EACH REAL PROPERTY THAT HAS AN EXISTING CONSTRUCTION
CONTRACT, TRUE AND CORRECT COPIES OF EACH CONSTRUCTION CONTRACT AND A COMPLETE
SET OF THE PLANS AND SPECIFICATIONS RELATING THERETO; TOGETHER WITH COPIES OF
ALL PERMITS AND GOVERNMENT APPROVALS RELATING TO THE CONSTRUCTION AND USE OF THE
PROJECT;
(XI)
ASSIGNMENT OF CONTRACT FOR EACH OF THE CONSTRUCTION CONTRACTS AND THE
PLANS AND SPECIFICATIONS, DULY EXECUTED BY EACH LOAN PARTY THAT IS PARTY THERETO
AND PURSUANT TO WHICH EACH SUCH LOAN PARTY SHALL HAVE ASSIGNED TO THE COLLATERAL
AGENT, FOR THE BENEFIT OF THE SECURED PARTIES, ALL OF SUCH LOAN PARTY'S RIGHT,
TITLE AND INTEREST IN AND TO EACH SUCH CONSTRUCTION CONTRACT, AND WHICH
ASSIGNMENT SHALL HAVE BEEN CONSENTED TO AND CERTIFIED IN WRITING BY THE OTHER
PARTY(IES) TO EACH SUCH CONSTRUCTION CONTRACT;
(XII)
LIEN WAIVERS FROM EACH CONTRACTOR AND SUBCONTRACTOR EMPLOYED IN
CONNECTION WITH THE CONSTRUCTION OF EACH PROJECT, IN EACH CASE IN FORM AND
SUBSTANCE REASONABLY ACCEPTABLE TO THE COLLATERAL AGENT;
(XIII)
WITH RESPECT TO EACH REAL PROPERTY THAT HAS AN EXISTING CONSTRUCTION
CONTRACT, AN AGREEMENT WITH AN INSPECTING ENGINEER OF RECOGNIZED STANDING AND
REASONABLY ACCEPTABLE TO THE COLLATERAL AGENT, BY WHICH AGREEMENT SUCH
INSPECTING ENGINEER AGREES TO ASSIST THE COLLATERAL AGENT IN ITS INSPECTION OF
ANY PROJECT DURING CONSTRUCTION AND PROVIDE SUCH ADDITIONAL SERVICES AS THE
COLLATERAL AGENT MAY REASONABLY REQUIRE AT SOLE EXPENSE OF BORROWER; AND
(XIV)
WITH RESPECT TO EACH REAL PROPERTY THAT HAS AN EXISTING CONSTRUCTION
CONTRACT, EVIDENCE THAT BORROWER OR APPLICABLE LOAN PARTIES HAVE CAUSED A
BONDING COMPANY TO ISSUE A CONSTRUCTION COMPLETION BOND.
(P)
INSURANCE. THE ADMINISTRATIVE AGENT SHALL HAVE RECEIVED A COPY OF,
OR A CERTIFICATE AS TO COVERAGE UNDER, THE INSURANCE POLICIES REQUIRED BY
SECTION 5.04 AND THE APPLICABLE PROVISIONS OF THE SECURITY DOCUMENTS, EACH OF
WHICH SHALL BE ENDORSED OR OTHERWISE AMENDED TO INCLUDE A "STANDARD" OR "NEW
YORK" LENDER'S LOSS PAYABLE OR MORTGAGEE ENDORSEMENT (AS APPLICABLE) AND SHALL
NAME THE COLLATERAL AGENT, ON BEHALF OF THE SECURED PARTIES, AS ADDITIONAL
INSURED, IN FORM AND SUBSTANCE REASONABLY SATISFACTORY TO THE ADMINISTRATIVE
AGENT.
(Q)
USA PATRIOT ACT. THE LENDERS SHALL HAVE RECEIVED, SUFFICIENTLY IN
ADVANCE OF THE DATE HEREOF, ALL DOCUMENTATION AND OTHER INFORMATION THAT MAY BE