Common use of ADDITIONAL CONDITIONS PRECEDENT TO ADVANCES Clause in Contracts

ADDITIONAL CONDITIONS PRECEDENT TO ADVANCES. Lender's obligations to ------------------------------------------- make advances hereunder (other than the first and advances requested prior to Lender's inspection of the Collateral in accordance with Paragraph 7A(a) below) shall be subject to, in addition to the conditions specified above the following: (a) Borrower agrees to permit Lender to visit its properties to conduct a collateral review within thirty (30) days from the date hereof In the event Lender determines, in its sole and absolute discretion, that the Collateral is not satisfactory, Lender shall have no further obligation to make any advances hereunder, and the entire principal amount outstanding under the Revolving Line of Credit shall become due and payable upon Lender's written notice to Borrower. If Lender determines, after its collateral review conducted in accordance with this Paragraph 7A, that the Collateral is not satisfactory, Lender shall notify Borrower, in writing, within three (3) business days after completing such collateral review of the reasons for Lender's determination that the Collateral is not satisfactory and provide Borrower a reasonable opportunity to resolve such deficiencies and/or problems; provided that during such period of time, Lender shall have no obligations to make any advances hereunder. If Borrower is able to resolve such deficiencies and/or problems to the satisfaction of Lender within thirty (30) days after delivery of such notification, then Borrower shall recommence making advances to Borrower in accordance with this Loan Agreement and the other Loan Documents. (l) Within thirty (30) days from the date hereof, Borrower shall have delivered to Lender a fully executed Lessor's Acknowledgment and Subordination in form and substance satisfactory to Lender in accordance with Section 4(e) of the Security Agreement. (m) Within thirty (30) days from the date hereof, Borrower, Lender and Successor Servicer shall have entered into a servicing agreement in form and substance satisfactory to Lender.

ADDITIONAL CONDITIONS PRECEDENT TO ADVANCES. Lender's obligations The obligation ------------------------------------------- of each Lender to ------------------------------------------- make advances hereunder (other than advance funds with respect to the first Notes and advances requested prior to Lender's inspection of the Collateral in accordance with Paragraph 7A(a) below) Equity Participant to make an equity contribution pursuant to Sections 1.02 and 1.03 hereof on each Advance Date pursuant hereto shall be subject to, in addition to the conditions specified above in Section 3.01 hereof and the followingfollowing additional conditions: (a) Borrower agrees to permit Lender to visit its properties to conduct a collateral review within thirty (30) days from the date hereof In the event Lender determines, in its sole and absolute discretion, that the Collateral is not satisfactory, Lender The Lessee shall have no further obligation to make any advances hereunder, satisfied all conditions and the entire principal amount outstanding requirements under the Revolving Line of Credit shall become due and payable upon Lender's written notice to Borrower. If Lender determines, after its collateral review conducted in accordance with this Paragraph 7A, that Agency Agreement for reimbursement by the Collateral is not satisfactory, Lender shall notify Borrower, in writing, within three (3) business days after completing such collateral review Lessor of the reasons for LenderLessor's determination that the Collateral is not satisfactory and provide Borrower a reasonable opportunity to resolve Share of Improvement Cost on such deficiencies and/or problems; provided that during such period of time, Lender shall have no obligations to make any advances hereunder. If Borrower is able to resolve such deficiencies and/or problems Advance Date; (b) On or prior to the satisfaction final Advance Date, with respect to each of Lender within thirty (30) days after delivery the Leased Premises, the reissuance by the title insurer of such notification, then Borrower shall recommence making advances the applicable Owner's Policy to Borrower in accordance with this Loan Agreement and the other Loan Documents. (l) Within thirty (30) days from the date hereof, Borrower shall have delivered to Lender a fully executed Lessor's Acknowledgment and Subordination Lessor in form and substance satisfactory acceptable to Lender in accordance the Lessor, together with Section 4(e) of such additional endorsements as the Security Agreement. Lessor may require (m) Within thirty (30) days from each, a "Final Owner's Policy"), and the date hereof, Borrower, Lender and Successor Servicer shall have entered into a servicing agreement applicable Loan Policy to the Agent in form and substance satisfactory acceptable to Lenderthe Agent, together with an additional C.L.T.A. Endorsement No. 122 (or its equivalent), and such other endorsements as Agent may require (each, a "Final Loan Policy"); and (c) To the extent required in connection with the issuance of the [Final Owner's Policy and] the Final Loan Policy, a survey (each, a "Survey") of the Leased Premises which certifies to the Agent, the Lessor, the Lessee, and the title insurer that (a) the survey is prepared in accordance with "Minimum Standard Detail Requirements for ALTA/ACSM Land Title Surveys," jointly established and adopted by ALTA and ACSM in 1992, meeting the accuracy requirements of an Urban Survey, as defined therein and including items 1-4 (with land area shown in acres or square feet, as appropriate) 6-11 and 13 of Table A thereof; (b) that the information shown on the survey is true and correct as of the last revision date; (c) the property description included in the Survey is identical to the property description attached to the applicable Owner's Policy and Loan Policy, and all recorded easements, set-backs and other matters of a similar nature shown on the title commitment, whether burdening or benefitting the Land, have been correctly platted and identified on the Survey; (d) all evidence showing use of the surveyed land (the "Land") by occupants other than the owner or lessees specifically identified in the Owner's Policy or the Loan Policy is noted on the Survey; (e) all streets or roads adjoining the Land are shown and the Land has access to and from a public roadway dedicated and currently in use as such, as shown on the survey; (f) if the Land is composed of several parcels, all interior lines, courses and distances are correctly and fully set forth on the survey and there are no gaps or unclosed interior lines; and (g) all evidence of easements or rights of way benefiting the Land on or across adjoining land are indicated on the survey.