Common use of Ownership of the Personal Property Clause in Contracts

Ownership of the Personal Property. All of the Personal Property is, and shall during the term of the Loan continue to be, owned by the Borrower, and is not the subject matter of any lease, control agreement or other instrument, agreement or transaction whereby any ownership, security or beneficial interest in the Personal Property is held by any person or entity other than the Borrower, subject only to (1) the Lender’s security interest, (2) the rights of tenants occupying the Property pursuant to Leases approved by the Lender, and (3) the Permitted Encumbrances. All Equipment directly related to the major electrical, HVAC and mechanical systems is owned by the Borrower free and clear of equipment leases or security interests of lenders other than the Lender. Open-End Mortgage, Security Agreement & Fixture Filing GTJ Portfolio, Shelton, Connecticut AEGON Loan No. 10520105

Ownership of the Personal Property. All of the Personal Property is, and shall during the term of the Loan continue to be, owned by the Borrower, and is not the subject matter of any lease, control agreement or other instrument, agreement or transaction whereby any ownership, security or beneficial interest in the Personal Property is held by any person or entity other than the Borrower, subject only to (1) the Lender’s security interest, (2) the rights of tenants occupying the Property pursuant to Leases approved by the Lender, and (3) the Permitted Encumbrances. All Equipment directly related to the major electrical, HVAC and mechanical systems is owned by the Borrower free and clear of equipment leases or security interests of lenders other than the Lender. Open-End Mortgage, Security Agreement & Fixture Filing GTJ Portfolio, Shelton, Connecticut AEGON Loan No. 10520105.