Condition of Property; Condemnation. To Seller’s Knowledge, the Real Estate Owned is free and clear of any damage that would materially adversely affect the value, use or operation of the Real Estate Owned, and Seller has no knowledge of any other fact(s) relating to the physical condition of the Real Estate Owned, which in Seller’s reasonable judgment has or would reasonably be expected to materially adversely affect the value, use or operation of the Real Estate Owned. There are no pending proceedings, and Seller has not received any notice of any threatened proceedings, for the condemnation, eminent domain or similar proceedings or actions affecting any material portion of the Real Estate Owned.
Appears in 3 contracts
Sources: Asset Purchase Agreement (First South Bancorp Inc /Va/), Residential Loan Purchase Agreement (Cascade Bancorp), Commercial Loan Purchase Agreement (Cascade Bancorp)