SHALL (1) BE CERTIFIED
TO THE ADMINISTRATIVE AGENT AND THE TITLE INSURANCE COMPANY BY AN INDEPENDENT
PROFESSIONAL LICENSED LAND SURVEYOR REASONABLY SATISFACTORY TO THE
ADMINISTRATIVE AGENT IN A MANNER REASONABLY SATISFACTORY TO THEM, (2) SHOW THE
PERIMETER BOUNDARIES OF THE UNCOVERED PROPERTY AND ALL IMPROVEMENTS THEREON
LOCATED WITHIN 5 FEET OF THE PERIMETER BOUNDARY LINE OF SUCH UNCOVERED PROPERTY
AND ALL ENCROACHMENTS OF OTHER PROPERTY ONTO THE UNCOVERED PROPERTY, (3) SHOW
ALL POINTS OF ACCESS TO SUCH UNCOVERED PROPERTY FROM MAJOR PUBLIC STREETS, AND
(4) INCLUDE A METES AND BOUNDS DESCRIPTION OF SUCH UNCOVERED PROPERTY.
FOR
PURPOSES OF THIS SECTION 7.1(O), THE ADMINISTRATIVE AGENT AND THE TITLE
INSURANCE COMPANY SHALL NOT BE ENTITLED TO RECEIVE A SUPPLEMENTAL SURVEY UNLESS
THE UNCOVERED PROPERTY MEETS THE FOLLOWING "MATERIALITY THRESHOLD": (I) THE
UNCOVERED PROPERTY IS MATERIAL TO THE OPERATION OF THE BUSINESS AT THE
APPLICABLE PARK AS CURRENTLY CONDUCTED, OR (II) THE UNCOVERED PROPERTY IS
REQUIRED IN ORDER TO OPERATE THE BUSINESS AT THE APPLICABLE PARK AS CURRENTLY
CONDUCTED IN ACCORDANCE WITH REQUIREMENTS OF LAW.
(IV)
THE ADMINISTRATIVE AGENT SHALL HAVE RECEIVED
IN RESPECT OF EACH MORTGAGED PROPERTY A MORTGAGEE'S TITLE INSURANCE POLICY (OR
POLICIES) OR MARKED UP UNCONDITIONAL BINDER FOR SUCH INSURANCE, TOGETHER WITH
SUCH ENDORSEMENTS AS THE ADMINISTRATIVE AGENT SHALL REASONABLY REQUEST, IN EACH
CASE IN FORM AND SUBSTANCE, AND IN AN AMOUNT, REASONABLY SATISFACTORY TO THE
ADMINISTRATIVE AGENT.
THE ADMINISTRATIVE AGENT SHALL HAVE RECEIVED EVIDENCE
SATISFACTORY TO IT THAT ALL PREMIUMS IN RESPECT OF EACH SUCH POLICY AND ALL
RELATED EXPENSES, IF ANY, HAVE BEEN PAID.
(V)
THE ADMINISTRATIVE AGENT SHALL HAVE RECEIVED
WITH RESPECT TO ANY MORTGAGED PROPERTY WHICH IS LOCATED IN A "SPECIAL FLOOD
HAZARD AREA" (A) A POLICY OF FLOOD INSURANCE THAT (1) COVERS SUCH MORTGAGED
PROPERTY,
(2) IS WRITTEN IN AN AMOUNT NOT
76
LESS THAN THE OUTSTANDING PRINCIPAL AMOUNT OF THE INDEBTEDNESS SECURED BY SUCH
MORTGAGE THAT IS REASONABLY ALLOCABLE TO SUCH REAL PROPERTY OR THE MAXIMUM LIMIT
OF COVERAGE MADE AVAILABLE WITH RESPECT TO THE PARTICULAR TYPE OF PROPERTY UNDER
THE NATIONAL FLOOD INSURANCE ACT OF 1968, WHICHEVER IS LESS, AND (3) HAS A TERM
ENDING NOT LATER THAN THE MATURITY OF THE INDEBTEDNESS SECURED BY SUCH MORTGAGE
AND (B) CONFIRMATION THAT THE BORROWER HAS RECEIVED THE NOTICE REQUIRED PURSUANT
TO SECTION 208(E)(3) OF REGULATION H OF THE BOARD.
(VI)
THE ADMINISTRATIVE AGENT SHALL HAVE RECEIVED A
COPY OF ALL RECORDED DOCUMENTS REFERRED TO, OR LISTED AS EXCEPTIONS TO TITLE IN,
THE TITLE POLICY OR POLICIES REFERRED TO IN CLAUSE (III) ABOVE AND A COPY OF ALL
OTHER MATERIAL DOCUMENTS AFFECTING THE MORTGAGED PROPERTIES.
(P)
INSURANCE.
THE ADMINISTRATIVE AGENT SHALL HAVE RECEIVED INSURANCE
CERTIFICATES SATISFYING THE REQUIREMENTS OF SECTION 8.4.
(Q)
THE U.S.A. PATRIOT ACT.
NO LATER THAN FIVE BUSINESS DAYS PRIOR TO
THE CLOSING DATE, THE ADMINISTRATIVE AGENT SHALL HAVE RECEIVED THE DOCUMENTATION
AND OTHER INFORMATION AS REQUIRED BY BANK REGULATORY AUTHORITIES UNDER
APPLICABLE "KNOW YOUR CUSTOMER" AND ANTI-MONEY LAUNDERING RULES AND REGULATIONS,
INCLUDING THE U.S.A. PATRIOT ACT.
(R)
PRO FORMA COMPLIANCE.