TITLE REPORT
ISSUED BY CHICAGO TITLE INSURANCE COMPANY IN FAVOR OF LANDLORD PERTAINING TO THE
PROPERTY AND DATED ON OR ABOUT THE DATE HEREOF ("TITLE REPORT"), THERE ARE NO
DECLARATIONS OF COVENANTS, CONDITIONS AND RESTRICTIONS OR SIMILAR AGREEMENTS
("DECLARATIONS") THAT RUN WITH THE LAND TO WHICH GUARANTOR OR SELLER IS A PARTY
OR BY WHICH GUARANTOR OR SELLER OR THE PROPERTY OR ANY PORTION THEREOF MAY BE
BOUND; AND GUARANTOR OR SELLER HAS DELIVERED OR CAUSED TO BE DELIVERED TO
LANDLORD TRUE, COMPLETE AND LEGIBLE COPIES OF THE DECLARATIONS AND RELATED
AGREEMENTS.
(R)
REPRESENTATION REGARDING DECLARATIONS.
EXCEPT AS MAY BE
SPECIFICALLY SET FORTH IN THE TITLE REPORT, THERE HAS BEEN NO WRITTEN CLAIM OF
DEFAULT UNDER ANY OF THE DECLARATIONS BY ANY PARTY THERETO THAT HAS NOT BEEN
CURED; AND, TO GUARANTOR'S KNOWLEDGE, THERE EXISTS NO EVENT THAT ALONE, OR WITH
NOTICE OR THE LAPSE OF TIME, OR BOTH, WOULD CONSTITUTE A DEFAULT UNDER ANY OF
THE DECLARATIONS BY ANY PARTY THERETO; EXCEPT, HOWEVER, THAT SELLER HAS ADVISED
LANDLORD THAT SELLER HAS RECEIVED NOTICE FROM ESDC STATING THAT IT IS NOT IN
COMPLIANCE WITH ITS OBLIGATIONS TO PROVIDE ESDC, FOR ESDC'S REVIEW AND APPROVAL
IN ACCORDANCE WITH THE TERMS OF THE SEVERANCE LEASE, WITH DETAILS RELATING TO
THE DESIGN AND PROGRAMMING OF THE FLAT
4
SCREEN TELEVISIONS INSTALLED BY SELLER IN LIEU OF RETAIL SIGNAGE.
ALL SUMS DUE
AND PAYABLE BY GUARANTOR OR SELLER UNDER THE DECLARATIONS AS OF THE CLOSING HAVE
BEEN PAID IN FULL PRIOR TO THE CLOSING.
(S)
DESIGNATION; FLOOD ZONE.
THE PROPERTY IS NOT LOCATED IN ANY
CONSERVATION OR HISTORIC DISTRICT, OR IN AN AREA THAT HAS BEEN IDENTIFIED BY THE
SECRETARY OF HOUSING AND URBAN DEVELOPMENT AS AN AREA HAVING SPECIAL FLOOD
HAZARDS.
(T)
INSURANCE.
NEITHER GUARANTOR NOR SELLER HAS RECEIVED WRITTEN
NOTICE OR DEMAND FROM ANY OF THE INSURERS OF ALL OR ANY PORTION OF THE PROPERTY
(OR INSURERS OF ANY ACTIVITIES CONDUCTED THEREON) TO CORRECT OR CHANGE ANY
PHYSICAL CONDITION ON THE PROPERTY OR ANY PRACTICE OF GUARANTOR OR SELLER.
GUARANTOR, SELLER OR THE CONDOMINIUM BOARDS (OR EITHER OF THEM) IS IN COMPLIANCE
WITH THE REQUIREMENTS OF ALL INSURANCE POLICIES AFFECTING ALL OR ANY PORTION OF
THE PROPERTY, WHICH ARE SET FORTH ON SCHEDULE 8 (THE "EXISTING INSURANCE
POLICIES").
(U)
EXPANSION OF PROPERTY.
NEITHER GUARANTOR NOR SELLER HAS MADE
WRITTEN APPLICATION TO ANY GOVERNMENTAL AUTHORITY FOR ANY EXPANSION OR FURTHER
DEVELOPMENT OF THE PROPERTY, AND NEITHER GUARANTOR NOR SELLER HAS RECEIVED
WRITTEN NOTICE THAT ANY EXPANSION OR FURTHER DEVELOPMENT OF THE PROPERTY IS
SUBJECT TO ANY RESTRICTIONS OR CONDITIONS EXCEPT AS SET FORTH IN THE
DECLARATIONS AND LOCAL ZONING LAW REQUIREMENTS.
(V)
ACCESS.
NEITHER GUARANTOR NOR SELLER HAS RECEIVED NOTICE FROM ANY
GOVERNMENTAL AUTHORITY, PRIVATE PARTY OR OTHER ENTITY RESPONSIBLE THEREFOR OF
ANY FACT OR CONDITION THAT WOULD RESULT IN THE TERMINATION OF (A) UNIMPAIRED
VEHICULAR AND PEDESTRIAN ACCESS FROM THE PROPERTY TO PRESENTLY EXISTING PUBLIC
ROADS OR (B) ACCESS FROM THE PROPERTY TO EXISTING SEWER OR OTHER UTILITY
FACILITIES SERVICING, ADJOINING