PROPERTY OR THE
OPERATION THEREOF AS A OFFICE/INDUSTRIAL/MANUFACTURING BUILDING, EXCEPT AS
REFERRED TO OR REFLECTED IN SAID FINANCIAL STATEMENTS.
SINCE THE DATE OF SUCH
FINANCIAL STATEMENTS, THERE HAS BEEN NO MATERIALLY ADVERSE CHANGE IN THE
FINANCIAL CONDITION, OPERATIONS OR BUSINESS OF BORROWER FROM THAT SET FORTH IN
SAID FINANCIAL STATEMENTS.
4.1.12
CONDEMNATION.
NO CONDEMNATION OR OTHER PROCEEDING HAS
BEEN COMMENCED OR, TO BORROWER'S KNOWLEDGE, IS CONTEMPLATED WITH RESPECT TO ALL
OR ANY PORTION OF THE PROPERTY OR FOR THE RELOCATION OF ROADWAYS PROVIDING
ACCESS TO THE PROPERTY.
4.1.13
FEDERAL RESERVE REGULATIONS.
NO PART OF THE PROCEEDS OF
THE LOAN WILL BE USED FOR THE PURPOSE OF PURCHASING OR ACQUIRING ANY "MARGIN
STOCK" WITHIN THE MEANING OF REGULATION U OF THE BOARD OF GOVERNORS OF THE
FEDERAL RESERVE SYSTEM OR FOR ANY OTHER PURPOSE WHICH WOULD BE INCONSISTENT WITH
SUCH REGULATION U OR ANY OTHER REGULATIONS OF SUCH BOARD OF GOVERNORS, OR FOR
ANY PURPOSES PROHIBITED BY LEGAL REQUIREMENTS OR BY THE TERMS AND CONDITIONS OF
THIS AGREEMENT OR THE OTHER LOAN DOCUMENTS.
4.1.14
UTILITIES AND PUBLIC ACCESS.
THE PROPERTY HAS RIGHTS OF
ACCESS TO PUBLIC WAYS AND IS SERVED BY WATER, SEWER, SANITARY SEWER AND STORM
DRAIN FACILITIES ADEQUATE TO SERVICE THE PROPERTY FOR ITS RESPECTIVE INTENDED
USES.
ALL PUBLIC UTILITIES NECESSARY OR CONVENIENT TO THE FULL USE AND
ENJOYMENT OF THE PROPERTY ARE LOCATED EITHER IN THE PUBLIC RIGHT-OF-WAY ABUTTING
THE PROPERTY (WHICH ARE CONNECTED SO AS TO SERVE THE PROPERTY WITHOUT PASSING
OVER OTHER PROPERTY) OR IN RECORDED EASEMENTS SERVING THE PROPERTY AND SUCH
EASEMENTS ARE SET FORTH IN AND INSURED BY THE TITLE INSURANCE POLICY.
ALL ROADS
NECESSARY FOR THE USE OF THE PROPERTY FOR THEIR CURRENT RESPECTIVE PURPOSES HAVE
BEEN COMPLETED AND DEDICATED TO PUBLIC USE AND ACCEPTED BY ALL GOVERNMENTAL
AUTHORITIES.
4.1.15
NOT A FOREIGN PERSON.
BORROWER IS NOT A "FOREIGN
PERSON" WITHIN THE MEANING OF §1445(F)(3) OF THE CODE.
30
4.1.16
SEPARATE LOTS.
THE PROPERTY IS COMPRISED OF ONE (1) OR
MORE PARCELS WHICH CONSTITUTE A SEPARATE TAX LOT OR LOTS AND DOES NOT CONSTITUTE
A PORTION OF ANY OTHER TAX LOT NOT A PART OF THE PROPERTY.
4.1.17
ASSESSMENTS.
THERE ARE NO PENDING, OR TO BORROWER'S
KNOWLEDGE, PROPOSED SPECIAL OR OTHER 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.
4.1.18
ENFORCEABILITY.
THE LOAN DOCUMENTS ARE NOT SUBJECT TO
ANY RIGHT OF RESCISSION, SET-OFF, COUNTERCLAIM OR DEFENSE BY BORROWER, INCLUDING
THE DEFENSE OF USURY, NOR WOULD THE OPERATION OF ANY OF THE TERMS OF THE LOAN
DOCUMENTS, OR THE EXERCISE OF ANY RIGHT THEREUNDER, RENDER THE LOAN DOCUMENTS
UNENFORCEABLE, AND BORROWER HAS NOT ASSERTED ANY RIGHT OF RESCISSION, SET-OFF,
COUNTERCLAIM OR DEFENSE WITH RESPECT THERETO.
4.1.19
NO PRIOR ASSIGNMENT.
THERE IS NO PRIOR ASSIGNMENT OF
THE LEASES OR ANY PORTION OF THE RENTS BY BORROWER OR ANY OF ITS PREDECESSORS IN
INTEREST, GIVEN AS COLLATERAL SECURITY WHICH ARE PRESENTLY OUTSTANDING.
4.1.20
INSURANCE.
BORROWER HAS