RECORDING;
(II)
WITH RESPECT TO EACH ORIGINAL MORTGAGED PROPERTY, A MORTGAGE POLICY,
OR UNCONDITIONAL COMMITMENT THEREFOR, ISSUED BY THE TITLE INSURANCE COMPANY, IN
AN INSURED AMOUNT EQUAL TO EITHER 100% OF THE REASONABLY ESTIMATED FAIR MARKET
VALUE OF SUCH ORIGINAL MORTGAGED PROPERTY OR AN ALLOCATED LOAN AMOUNT, IN
COLLATERAL AGENT'S REASONABLE DISCRETION, AND INSURING THE COLLATERAL AGENT THAT
THE MORTGAGE ON EACH SUCH MORTGAGED PROPERTY IS A VALID AND ENFORCEABLE MORTGAGE
LIEN ON SUCH MORTGAGED PROPERTY, FREE AND CLEAR OF ALL DEFECTS AND ENCUMBRANCES
EXCEPT PERMITTED ENCUMBRANCES, WITH EACH SUCH MORTGAGE POLICY (1) TO BE IN FORM
AND SUBSTANCE REASONABLY SATISFACTORY TO THE COLLATERAL AGENT, (2) TO INCLUDE,
TO THE EXTENT AVAILABLE IN THE APPLICABLE JURISDICTION, SUPPLEMENTAL
ENDORSEMENTS (INCLUDING, WITHOUT LIMITATION, ENDORSEMENTS RELATING TO FUTURE
ADVANCES UNDER THIS AGREEMENT AND THE LOANS, USURY, FIRST LOSS, TAX PARCEL,
SUBDIVISION, ZONING, CONTIGUITY, VARIABLE RATE, DOING BUSINESS,
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PUBLIC ROAD ACCESS, SURVEY, ENVIRONMENTAL LIEN, MORTGAGE TAX AND SO-CALLED
COMPREHENSIVE COVERAGE OVER COVENANTS AND RESTRICTIONS AND FOR ANY OTHER MATTERS
THAT THE COLLATERAL AGENT IN ITS DISCRETION MAY REASONABLY REQUEST), (3) TO
EXCLUDE THE "STANDARD" TITLE EXCEPTIONS, AND (4) TO PROVIDE FOR AFFIRMATIVE
INSURANCE AND SUCH REINSURANCE OR COINSURANCE AS THE COLLATERAL AGENT IN ITS
DISCRETION MAY REASONABLY REQUEST;
(III)
TO INDUCE THE TITLE INSURANCE COMPANY TO ISSUE THE MORTGAGE POLICIES
REFERRED TO IN SUBSECTION (II) ABOVE, SUCH AFFIDAVITS, CERTIFICATES, INFORMATION
AND INSTRUMENTS OF INDEMNIFICATION (INCLUDING, WITHOUT LIMITATION, A SO-CALLED
"GAP" INDEMNIFICATION) AS SHALL BE REASONABLY REQUESTED BY THE TITLE INSURANCE
COMPANY, TOGETHER WITH REASONABLE EVIDENCE OF PAYMENT, OR DEPOSIT WITH THE TITLE
INSURANCE COMPANY, BY THE BORROWER OF ALL MORTGAGE POLICY PREMIUMS, SEARCH AND
EXAMINATION CHARGES, MORTGAGE RECORDING TAXES, FEES, CHARGES, COSTS AND EXPENSES
REQUIRED FOR THE RECORDING OF SUCH MORTGAGES AND ISSUANCE OF SUCH MORTGAGE
POLICIES;
(IV)
A SURVEY THAT COMPLIES WITH THE MINIMUM DETAIL REQUIREMENTS OF THE
AMERICAN LAND TITLE ASSOCIATION AS SUCH REQUIREMENTS ARE IN EFFECT ON THE DATE
OF SUCH SURVEY, AN AERIAL SURVEY, EXPRESSMAP OR EQUIVALENT PHOTOGRAPHIC
DEPICTION OF EACH ORIGINAL MORTGAGED PROPERTY (AND ALL IMPROVEMENTS THEREON) OR
SUCH OTHER MAP OR SURVEY, IN EACH CASE WHICH IS REASONABLY SUFFICIENT FOR THE
TITLE INSURANCE COMPANY TO REMOVE ALL STANDARD SURVEY EXCEPTIONS FROM THE
MORTGAGE POLICY RELATING TO SUCH ORIGINAL MORTGAGED PROPERTY AND ISSUE THE
ENDORSEMENTS REQUIRED PURSUANT TO THE PROVISIONS OF SECTION 6.18(II) ABOVE;
(V)
TO THE EXTENT OBTAINABLE BY BORROWER, AFTER USING COMMERCIALLY
REASONABLE EFFORTS, ON OR PRIOR TO THE INITIAL BORROWING DATE, FULLY EXECUTED
LANDLORD WAIVERS AND/OR BAILEE AGREEMENTS IN RESPECT OF THOSE LEASEHOLD WAIVER
PROPERTIES, EACH OF WHICH LANDLORD WAIVERS AND/OR BAILEE AGREEMENTS SHALL BE IN
FORM AND SUBSTANCE REASONABLY SATISFACTORY TO THE COLLATERAL AGENT;
(VI)
TO THE EXTENT REASONABLY REQUESTED BY THE COLLATERAL AGENT, COPIES OF
ALL LEASES ON ANY ORIGINAL MORTGAGED PROPERTY IN EFFECT AS OF THE INITIAL
BORROWING DATE IN WHICH ANY CREDIT PARTY HOLDS THE LESSOR'S INTEREST OR OTHER
AGREEMENTS RELATING TO POSSESSORY INTERESTS, IF ANY; PROVIDED THAT, TO THE
EXTENT ANY OF THE FOREGOING AFFECT THE BUILDINGS OR IMPROVEMENTS