Existing Use. To Seller’s Knowledge, the Assets, the use thereof and the condition thereof do not violate in any material respect any applicable deed restrictions, zoning or subdivision regulations, urban redevelopment plans, local, state or federal environmental law or regulation or any building code or fire code applicable to the Assets and are not designated by any Governmental Authority to be in a flood plain area. To Seller’s Knowledge, there are no conditions or state of facts which would preclude, materially limit or materially restrict the use of the Assets for the existing uses and other uses ancillary thereto.
Appears in 1 contract
Sources: Asset Purchase Agreement (CNL Income Properties Inc)
Existing Use. To each Seller’s Knowledge, the Assets, the use thereof and the condition thereof do not violate in any material respect any applicable deed restrictions, zoning or subdivision regulations, urban redevelopment plans, local, state or federal environmental law or regulation or any building code or fire code applicable to the Assets and are not designated by any Governmental Authority to be in a flood plain area. To each Seller’s Knowledge, there are no conditions or state of facts which would preclude, materially limit or materially restrict the use of the Assets for the existing uses and other uses ancillary thereto.
Appears in 1 contract
Sources: Asset Purchase Agreement (CNL Income Properties Inc)