PERSON HAS ANY POSSESSORY INTEREST IN THE PROPERTY OR RIGHT TO OCCUPY THE SAME
EXCEPT UNDER AND PURSUANT TO THE
32
PROVISIONS OF THE ANCHOR TENANT LEASE.
THE ANCHOR TENANT LEASE IS IN FULL FORCE
AND EFFECT AND TO BORROWER'S KNOWLEDGE AFTER INQUIRY, THERE ARE NO DEFAULTS
THEREUNDER BY EITHER PARTY AND THERE ARE NO CONDITIONS THAT, WITH THE PASSAGE OF
TIME OR THE GIVING OF NOTICE, OR BOTH, WOULD CONSTITUTE DEFAULTS THEREUNDER.
NO
RENT (INCLUDING SECURITY DEPOSITS) HAS BEEN PAID MORE THAN ONE (1) MONTH IN
ADVANCE OF ITS DUE DATE.
TO BEST OF BORROWER'S KNOWLEDGE, ALL WORK TO BE
PERFORMED BY BORROWER UNDER THE ANCHOR TENANT LEASE HAS BEEN PERFORMED AS
REQUIRED AND HAS BEEN ACCEPTED BY THE ANCHOR TENANT, AND ANY PAYMENTS, FREE
RENT, PARTIAL RENT, REBATE OF RENT OR OTHER PAYMENTS, CREDITS, ALLOWANCES OR
ABATEMENTS REQUIRED TO BE GIVEN BY BORROWER TO THE ANCHOR TENANT HAVE ALREADY
BEEN RECEIVED BY THE ANCHOR TENANT.
THERE HAS BEEN NO PRIOR SALE, TRANSFER OR
ASSIGNMENT, HYPOTHECATION OR PLEDGE OF THE ANCHOR TENANT LEASE OR OF THE RENTS
RECEIVED THEREIN WHICH IS OUTSTANDING.
TO BORROWER'S KNOWLEDGE AFTER INQUIRY,
EXCEPT AS SET FORTH ON SCHEDULE IV, THE ANCHOR TENANT HAS NOT ASSIGNED THE
ANCHOR TENANT LEASE OR SUBLET ALL OR ANY PORTION OF THE PREMISES DEMISED
THEREBY, NOR DOES ANYONE EXCEPT THE ANCHOR TENANT AND ITS EMPLOYEES OCCUPY SUCH
LEASED PREMISES.
EXCEPT AS SET FORTH ON SCHEDULE IV, THE ANCHOR TENANT DOES NOT
HAVE A RIGHT OR OPTION PURSUANT TO THE ANCHOR TENANT LEASE TO PURCHASE ALL OR
ANY PART OF THE LEASED PREMISES OR THE BUILDING OF WHICH THE LEASED PREMISES ARE
A PART.
EXCEPT AS DISCLOSED IN THE ENVIRONMENTAL REPORT DELIVERED TO LENDER IN
CONNECTION HEREWITH, TO BORROWER'S ACTUAL KNOWLEDGE, NO HAZARDOUS WASTES OR
TOXIC SUBSTANCES, AS DEFINED BY APPLICABLE FEDERAL, STATE OR LOCAL STATUTES,
RULES AND REGULATIONS, HAVE BEEN DISPOSED, STORED OR TREATED BY ANCHOR TENANT ON
OR ABOUT THE LEASED PREMISES NOR DOES BORROWER HAVE ANY KNOWLEDGE OF ANCHOR
TENANT'S INTENTION TO USE ITS LEASED PREMISES FOR ANY ACTIVITY WHICH, DIRECTLY
OR INDIRECTLY, INVOLVES THE USE, GENERATION, TREATMENT, STORAGE, DISPOSAL OR
TRANSPORTATION OF ANY PETROLEUM PRODUCT OR ANY TOXIC OR HAZARDOUS CHEMICAL,
MATERIAL, SUBSTANCE OR WASTE, EXCEPT IN EITHER EVENT, IN COMPLIANCE WITH
APPLICABLE FEDERAL, STATE OR LOCAL STATUES, RULES AND REGULATIONS.
4.1.27
SURVEY.
THE SURVEY FOR THE PROPERTY DELIVERED TO LENDER IN
CONNECTION WITH THIS AGREEMENT HAS BEEN PREPARED IN ACCORDANCE WITH THE
PROVISIONS OF SECTION 3.1.3(C) HEREOF, AND DOES NOT FAIL TO REFLECT ANY MATERIAL
MATTER AFFECTING THE PROPERTY OR THE TITLE THERETO.
4.1.28
LOAN TO VALUE. THE MAXIMUM PRINCIPAL AMOUNT OF THE NOTE DOES NOT
EXCEED ONE HUNDRED TWENTY-FIVE PERCENT (125%) OF THE FAIR MARKET VALUE OF THE
PROPERTY AS SET FORTH ON THE APPRAISAL OF THE PROPERTY DELIVERED TO LENDER.
4.1.29
FILING AND RECORDING TAXES.
ALL TRANSFER TAXES, DEED STAMPS,
INTANGIBLE TAXES OR OTHER AMOUNTS IN THE NATURE OF TRANSFER TAXES REQUIRED TO BE
PAID BY ANY PERSON UNDER APPLICABLE LEGAL REQUIREMENTS