Common use of STATEMENT OF LEASE Clause in Contracts

STATEMENT OF LEASE. A. The County will, within thirty (30) days next following receipt of a joint written request from Lessor and a prospective lender or purchaser of the Building, execute and deliver to Lessor a letter stating that the same is issued subject to the conditions stated in this clause and, if such is the case, that (1) the Lease is in full force and effect; (2) the date to which the rent and other charges have been paid in advance, if any; and (3) whether any notice of default has been issued. B. Letters issued pursuant to this clause are subject to the following conditions: (1) That they are based solely upon a reasonably diligent review of the County’s Lease file as of the date of issuance; (2) That the County shall not be held liable because of any defect in or condition of the Premises or Building; (3) That the County does not warrant or represent that the Premises or Building comply with applicable Federal, State and local law; and (4) That the Lessor, and each prospective lender and purchaser are deemed to have constructive notice of such facts as would be ascertainable by reasonable prepurchase and precommitment inspection of the Premises and Building and by inquiry to appropriate Federal, State and local officials.

STATEMENT OF LEASE. A. The County will, within thirty (30) days next following receipt of a joint written request from Lessor and a prospective lender or purchaser of the Building, execute and deliver to Lessor a letter stating that the same is issued subject to the conditions stated in this clause and, if such is the case, that (1) the Lease is in full force and effect; (2) the date to which the rent and other charges have been paid in advance, if any; and (3) whether any notice of default has been issued. B. Letters issued pursuant to this clause are subject to the following conditions: (1) That they are based solely upon a reasonably diligent review of the County’s Lease file as of the date of issuance; (2) That the County shall not be held liable because of any defect in or condition of the Premises or Building; (3) That the County does not warrant or represent that the Premises or Building comply with applicable Federal, State and local law; and (4) That the Lessor, and each prospective lender and purchaser are deemed to have constructive notice of such facts as would be ascertainable by reasonable prepurchase pre-purchase and precommitment pre-commitment inspection of the Premises and Building and by inquiry to appropriate Federal, State and local officials.