OCCUPANCY OR
ENJOYMENT OF THE CTL PROPERTY.
(13)
EACH CREDIT LEASE CONTAINS NO MONETARY OBLIGATIONS OR OBLIGATIONS
ASSOCIATED WITH MANAGING, OWNING, DEVELOPING AND OPERATING THE CTL PROPERTY
(INCLUDING, BUT NOT LIMITED TO, THE COSTS ASSOCIATED WITH UTILITIES, TAXES,
INSURANCE, CAPITAL AND STRUCTURAL IMPROVEMENTS AND MAINTENANCE AND REPAIRS), ON
THE PART OF THE PROPERTY-OWNING BORROWER UNLESS SUCH OBLIGATIONS ARE FULLY
REIMBURSABLE OR HAVE BEEN PAID BY THE TENANT.
(14)
EACH CREDIT LEASE CONTAINS CUSTOMARY AND ENFORCEABLE PROVISIONS
WHICH RENDER THE RIGHTS AND REMEDIES OF THE LESSOR THEREUNDER ADEQUATE FOR THE
ENFORCEMENT AND SATISFACTION OF THE LESSOR'S RIGHTS THEREUNDER.
(15)
ANY ANTICIPATED MAINTENANCE, REPAIR, OR REPLACEMENT OBLIGATIONS
IMPOSED BY ANY EASEMENT OR RECIPROCAL EASEMENT AGREEMENT EITHER IS A DIRECT
OBLIGATION OF THE TENANT OR AN ADJACENT PROPERTY OWNER OR IS AN OBLIGATION OR
LIABILITY OF THE PROPERTY-OWNING BORROWER, REIMBURSABLE BY THE TENANT, OR HAS
BEEN RESERVED FOR UNDER THE LOAN DOCUMENTS.
(16)
THE CREDIT LEASE CANNOT BE MODIFIED WITHOUT THE CONSENT OF THE
MORTGAGEE THEREUNDER.
(17)
EXCEPT FOR (A) A TERMINATION DUE TO A DEFAULT BY THE
PROPERTY-OWNING BORROWER UNDER THE CREDIT LEASE OR (B) A TERMINATION DUE TO
CASUALTY OR CONDEMNATION, NO TENANT CAN TERMINATE A CREDIT LEASE FOR ANY REASON
PRIOR TO THE PAYMENT IN FULL OF OR THE PAYMENT OF FUNDS SUFFICIENT TO PAY IN
FULL (1) THE PRINCIPAL BALANCE OF THE RELATED ADVANCE, (2) ALL ACCRUED AND
UNPAID INTEREST ON THE RELATED ADVANCE AND (3) ANY OTHER SUMS DUE AND PAYABLE
UNDER THE RELATED ADVANCE, AS OF THE TERMINATION DATE.
(18)
NO RIGHT OR CLAIM OF RESCISSION, OFFSET, ABATEMENT, DIMINUTION,
DEFENSE OR COUNTERCLAIM TO A CREDIT LEASE HAS BEEN ASSERTED WITH RESPECT
THERETO, NOR IS THERE ANY EXISTING CONDITION WHICH, BUT FOR THE PASSAGE OF TIME
OR GIVING OF NOTICE, WOULD RESULT IN A RIGHT OR CLAIM OF RESCISSION, OFFSET,
ABATEMENT, DIMINUTION, DEFENSE OR COUNTERCLAIM UNDER THE TERMS OF ANY CREDIT
LEASE (OTHER THAN FOR NONMATERIAL PUNCH LIST ITEMS).
(19)
THE OBLIGATIONS OF THE TENANT UNDER ANY CREDIT LEASE (INCLUDING,
BUT NOT LIMITED TO, THE OBLIGATIONS OF THE TENANT TO PAY FIXED AND ADDITIONAL
RENT), ARE NOT AFFECTED BY REASON OF ANY DAMAGE TO OR DESTRUCTION OF ANY PORTION
OF THE LEASED PROPERTY OR ANY TAKING OF THE LEASED PROPERTY OR ANY PART THEREOF
BY CONDEMNATION OR OTHERWISE, EXCEPT FOR CTL PROPERTIES SUBJECT TO CASUALTY AND
CONDEMNATION LEASE ENHANCEMENT POLICIES OR WHICH PERMIT TERMINATION OF RENT ONLY
PURSUANT TO EXERCISE OF A FUNDING OPTION SUFFICIENT TO PAY THE ADVANCE IN FULL.
(20)
IN THE CASE OF A CREDIT LEASE WITH A "LEASE ENHANCEMENT POLICY"
AND/OR AN "EXTENDED AMORTIZATION POLICY" AND/OR RESIDUAL VALUE INSURANCE POLICY,
THE
72
ENTIRE PREMIUM HAS BEEN PAID IN FULL FOR EACH SUCH POLICY (OR IS REQUIRED TO BE
PAID WITHIN THIRTY DAYS AFTER THE RELATED CLOSING DATE), SUCH POLICIES ARE EACH
IN FULL FORCE AND EFFECT, AND THE LEGAL, VALID AND BINDING OBLIGATION OF THE
INSURER THEREUNDER, ENFORCEABLE IN ACCORDANCE WITH THEIR RESPECTIVE TERMS,
EXCEPT AS SUCH ENFORCEMENT MAY BE LIMITED BY BANKRUPTCY,