THE TITLE POLICY, OR LIENS OR SECURITY INTERESTS
OTHERWISE APPROVED BY LENDER IN LENDER'S SOLE DISCRETION.
(J)
CONDEMNATION.
NO CONDEMNATION PROCEEDING OR MORATORIUM IS
PENDING OR, TO THE KNOWLEDGE OF BORROWER, THREATENED AGAINST THE LAND OR THE
IMPROVEMENTS WHICH WOULD
14
IMPAIR ANY CONSTRUCTION, USE, SALE OR OCCUPANCY OF THE PROPERTY (OR ANY PORTION
THEREOF) IN ANY MANNER WHATSOEVER.
(K)
GOVERNMENTAL REGULATIONS.
EXCEPT FOR THE
CURRENT BANKRUPTCY, BORROWER IS NOT SUBJECT TO REGULATION UNDER THE INVESTMENT
COMPANY ACT OF 1940, THE FEDERAL POWER ACT, THE PUBLIC UTILITY HOLDING COMPANY
ACT OF 1935, THE INTERSTATE COMMERCE ACT OR ANY FEDERAL OR STATE STATUTE OR
REGULATION LIMITING ITS ABILITY TO INCUR INDEBTEDNESS FOR MONEY BORROWED.
(L)
COMPLIANCE WITH ANTI-TERRORISM, EMBARGO,
SANCTIONS AND ANTI MONEY LAUNDERING LAWS.
BORROWER, AND TO BORROWER'S CURRENT
KNOWLEDGE (A) EACH PERSON OWNING AN INTEREST IN BORROWER,
AND (B) EACH TENANT
AT THE PROPERTY:
(I) IS NOT CURRENTLY IDENTIFIED ON THE OFAC LIST, AND (II) IS
NOT A PERSON WITH WHOM A CITIZEN OF THE UNITED STATES IS PROHIBITED TO ENGAGE IN
TRANSACTIONS BY ANY TRADE EMBARGO, ECONOMIC SANCTION, OR OTHER PROHIBITION OF
UNITED STATES LAW, REGULATION, OR EXECUTIVE ORDER OF THE PRESIDENT OF THE UNITED
STATES, INCLUDING, WITHOUT LIMITATION, ANY ANTI-TERRORISM LAWS.
(M)
BROKERS.
BORROWER IS REPRESENTED BY
HEALTHWEST REALTY ADVISORS ("BROKER") IN CONNECTION WITH THE MAKING AND
ARRANGEMENT OF THE LOAN AND THE TRANSACTION CONTEMPLATED HEREBY.
OTHER THAN ANY
BROKERAGE COMMISSIONS OR FEES WHICH MAY BE DUE BY BORROWER TO THE BROKER FOR
SUCH SERVICES, THERE ARE NO OTHER BROKERAGE COMMISSIONS OR FINDERS' FEES DUE OR
CLAIMED BY ANY PARTY TO BE DUE FROM BORROWER IN CONNECTION WITH OR WITH RESPECT
TO THE TRANSACTION CONTEMPLATED HEREBY.
BORROWER SHALL BE FULLY RESPONSIBLE FOR
ANY COMMISSIONS OR FEES DUE AND OWING TO BROKER (WHICH SHALL BE PAID AT CLOSING
FROM THE LOAN PROCEEDS).
(N)
DEFECTS AND HAZARDS.
BORROWER DOES NOT KNOW
OF ANY DEFECTS, FACTS OR CONDITIONS AFFECTING THE LAND THAT WOULD MAKE IT
UNSUITABLE FOR THE USE CONTEMPLATED HEREUNDER OR OF ANY ABNORMAL HAZARDS
(INCLUDING EARTH MOVEMENT OR SLIPPAGE) AFFECTING THE LAND.
(O)
PERMITS.
BORROWER HAS OBTAINED ALL PERMITS
WHICH ARE NECESSARY FOR THE OPERATION OF THE PROPERTY IN ACCORDANCE WITH ALL
APPLICABLE BUILDING, ENVIRONMENTAL, SUBDIVISION, LAND USE AND ZONING LAWS,
INCLUDING ALL PERMITS FOR THE IMPROVEMENTS, ANNEXATION AGREEMENTS, PLOT PLAN
APPROVALS, SUBDIVISION APPROVALS (INCLUDING THE APPROVAL AND RECORDATION OF ANY
REQUIRED SUBDIVISION MAP), ENVIRONMENTAL APPROVALS (INCLUDING A NEGATIVE
DECLARATION OR AN ENVIRONMENTAL IMPACT REPORT IF REQUIRED UNDER APPLICABLE LAW),
SEWER AND WATER PERMITS AND ZONING AND LAND USE ENTITLEMENTS.
4.2
REPRESENTATIONS AND WARRANTIES OF LENDER.
LENDER REPRESENTS AND WARRANTS TO BORROWER THAT:
(A)
LEGAL STATUS OF LENDER.
LENDER IS A
LIMITED LIABILITY COMPANY DULY ORGANIZED, VALIDLY EXISTING AND IN GOOD STANDING
UNDER THE LAWS OF DELAWARE.
(B)
NO BREACH OF APPLICABLE AGREEMENTS OR LAWS.
THE CONSUMMATION OF THE TRANSACTIONS CONTEMPLATED HEREBY AND THE EXECUTION,
DELIVERY AND/OR PERFORMANCE OF THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS WILL
NOT RESULT IN ANY BREACH OF OR CONSTITUTE A DEFAULT