Common use of Status of Property Clause in Contracts

Status of Property. (a) Except as otherwise disclosed to Lender, Borrower has obtained all Permits if any are required for the operation of Borrower’s business, all of which are in full force and effect as of the date hereof and not subject to revocation, suspension, forfeiture or modification. (b) Except as set forth in the Zoning Report, the Property and the present and contemplated use and occupancy thereof are in full compliance with all applicable zoning ordinances, building codes, land use laws, Environmental Laws and other similar Legal Requirements. (c) The Property is served by all utilities required for the current or contemplated use thereof. All utility service is provided by public utilities and the Property has accepted or is equipped to accept such utility service. (d) All public roads and streets necessary for service of and access to the Property for the current or contemplated use thereof have been completed, are serviceable and all-weather and are physically and legally open for use by the public. The Property has either direct access to such public roads or streets or access to such public roads or streets by virtue of a perpetual easement or similar agreement inuring in favor of Borrower and any subsequent owners of the Property. (e) The Property is served by public water and sewer systems. (f) The Property is free from damage caused by fire or other casualty. Except as disclosed in the Physical Condition Report, the Property, including, without limitation, all buildings, improvements, parking facilities, sidewalks, storm drainage systems, roofs, plumbing systems, HVAC systems, fire protection systems, electrical systems, equipment, elevators, exterior sidings and doors, landscaping, irrigation systems and all structural components, are in good condition, order and repair in all material respects, subject to reasonable wear and tear; there exists no structural or other material defects or damages in the Property, whether latent or otherwise, and Borrower has not received notice from any insurance company or bonding company of any defects or inadequacies in the Property, or any part thereof, which would adversely affect the insurability of the same or cause the imposition of extraordinary premiums or charges thereon or of any termination or threatened termination of any policy of insurance or bond. (g) All costs and expenses of any and all labor, materials, supplies and equipment used in the construction of the Improvements have been paid in full. Except as shown on the Title Insurance Policy, there are no mechanics’ or similar liens or claims which have been filed for work, labor or material (and no rights are outstanding that under applicable Legal Requirements could give rise to any such liens) affecting the Property which are or may be prior to or equal to the lien of the Security Instrument (other than liens that have either been bonded to the satisfaction of Lender, been fully insured to the satisfaction of Lender by the title company issuing the Title Insurance Policy or have otherwise been addressed in a manner approved by Lender). (h) Borrower has paid in full for, and is the owner of, all furnishings, fixtures and equipment (other than Tenants’ property) used in connection with the operation of the Property, free and clear of any and all security interests, liens or encumbrances, except the lien and security interest created by this Agreement, the Note, the Security Instrument and the other Loan Documents. (i) Except as shown in the Environmental Reports, all liquid and solid waste disposal, septic and sewer systems located on the Property are in a good and safe condition and repair and in compliance with all Legal Requirements. (j) Except as shown on the Survey, no portion of the Improvements is located in an area identified by the Federal Emergency Management Agency or any successor thereto as an area having special flood hazards pursuant to the Flood Insurance Acts. Except as shown on the Survey, no part of the Property consists of or is classified as wetlands, tidelands or swamp and overflow lands. (k) Except as set forth in the Title Insurance Policy or the Survey, all the Improvements lie within the boundaries of the Land and any building restriction lines applicable to the Land. (l) To Borrower’s knowledge, there are no pending or proposed special or other assessments for public improvements or otherwise affecting the Property, nor are there any contemplated improvements to the Property that may result in such special or other assessments. (m) Other than in connection with routine ongoing work and repairs, tenant build-out work required pursuant to the terms and provisions of Leases existing as of the Closing Date and other work and repairs described on Schedule VI hereto, Borrower has not (i) made, ordered or contracted for any construction, repairs, alterations or improvements to be made on or to the Property which have not been completed and paid for in full, (ii) ordered materials for any such construction, repairs, alterations or improvements which have not been paid for in full or (iii) attached any fixtures to the Property which have not been paid for in full. (n) Borrower does not have any direct employees.

Status of Property. (a) Except as otherwise disclosed to Lender, Borrower has obtained or caused Mortgage Borrower to obtain all Permits if any (other than Health Care Licenses which are required addressed in Section 3.38(a) hereof) for the operation of Borrower’s or Mortgage Borrower’s business, all of which are in full force and effect as of the date hereof and not subject to revocation, suspension, forfeiture or modification. Mortgage Borrower has used commercially reasonable efforts to cause each Tenant with respect to each Triple Net Leased Property to obtain all Permits for the operation of such Tenant’s business. (b) Except as set forth shown in the Zoning ReportReports, the each Individual Property and the present and contemplated use and occupancy thereof are in full compliance in all material respects with all applicable zoning ordinances, building codes, land use laws, Environmental Laws and other similar Legal Requirements. (c) The Each Individual Property is served by all utilities required for the current or contemplated use thereof. All utility service is provided by public utilities and the each Individual Property has accepted or is equipped to accept such utility service. (d) All public roads and streets necessary for service of and access to the each Individual Property for the current or contemplated use thereof have been completed, are serviceable and all-weather and are physically and legally open for use by the public. The Each Individual Property has either direct access to such public roads or streets or access to such public roads or streets by virtue of a perpetual easement or similar agreement inuring in favor of Mortgage Borrower and any subsequent owners of the applicable Individual Property. (e) The Each Individual Property is served by public water and sewer systems. (f) The Except as set forth on Schedule XXIV attached hereto, each Individual Property is free from material damage caused by fire or other casualty. Except as disclosed shown in the Physical Property Condition ReportReports, the (i) each Individual Property, including, without limitation, all buildings, improvements, parking facilities, sidewalks, storm drainage systems, roofs, plumbing systems, HVAC systems, fire protection systems, electrical systems, equipment, elevators, exterior sidings and doors, landscaping, irrigation systems and all structural components, are in good condition, order and repair in all material respects, subject to reasonable wear respects and tear; (ii) there exists no structural or other material defects or damages in the any Individual Property, whether latent or otherwise, and none of Borrower, any Mezzanine A Borrower or any Mortgage Borrower has not received notice from any insurance company or bonding company of any defects or inadequacies in the any Individual Property, or any part thereof, which would adversely affect the insurability of the same or cause the imposition of extraordinary premiums or charges thereon or of any termination or threatened termination of any policy of insurance or bond. (g) All costs and expenses of any and all labor, materials, supplies and equipment used in the construction of the Improvements and incurred as of the date hereof have been or will be paid in full. Except as shown on the Title Insurance PolicyPolicies, there are no mechanics’ or similar liens or claims which have been filed for work, labor or material (and no rights are outstanding that under applicable Legal Requirements could give rise to affecting any such liens) affecting the Individual Property which are or may be prior to or equal to the lien of the applicable Security Instrument (other than liens that have either been bonded to the satisfaction of Lender, been fully insured to the satisfaction of Lender by the title company issuing the Title Insurance Policy or have otherwise been addressed in a manner approved by Lender)Instrument. (h) Mortgage Borrower has paid in full for, and is the owner of, all furnishings, fixtures and equipment (other than Tenants’ propertyand subtenants’ property or the property subject to a Permitted Equipment Lease) used in connection with the operation of the each Individual Property, free and clear of any and all security interests, liens or encumbrances, except the lien and security interest created by this Agreement, the Note, the Security Instrument and the other Loan DocumentsPermitted Encumbrances. (i) Except as shown in the Environmental Reports, all liquid and solid waste disposal, septic and sewer systems located on the each Individual Property are in a good and safe condition and repair and in compliance in all material respects with all Legal Requirements. (j) Except as shown expressly disclosed on the Survey, (i) no portion of the Improvements is located in an area identified by the Federal Emergency Management Agency or any successor thereto as an area having special flood hazards pursuant to the Flood Insurance Acts. Except as shown on the Survey, Acts and (ii) no part of the any Individual Property consists of or is classified as wetlands, tidelands or swamp and overflow lands. (k) Except as set forth in the Title Insurance Policy or the SurveyPolicies, all the Improvements lie within the boundaries of the Land and any building restriction lines applicable to the Land. (l) To Borrower’s knowledge, there are no pending or proposed special or other assessments for public improvements or otherwise affecting the Propertyany Individual Property (or any portion thereof), nor are there any contemplated improvements to the any Individual Property that may result in such special or other assessments. (m) Other Except as set forth on Schedule XXV and except for projects costing less than $100,000 (which projects costing less than $100,000 and not listed on Schedule XXV are not in connection with routine ongoing work and repairs, tenant build-out work required pursuant to the terms and provisions of Leases existing as excess of the Closing Date and other work and repairs described on Schedule VI heretoAlteration Threshold), none of Borrower, Mezzanine A Borrower, or Mortgage Borrower has not (i) made, ordered or contracted for any construction, repairs, alterations or improvements to be made on or to the any Individual Property which have not been completed and paid for in full, (ii) ordered materials for any such construction, repairs, alterations or improvements which have not been paid for in full or (iii) attached any fixtures to the any Individual Property which have not been paid for in full. (n) Borrower does not have any has no direct employees.

Status of Property. (a) Except as otherwise disclosed to Lender, Borrower has obtained or caused Mortgage Borrower to obtain all Permits if any (other than Health Care Licenses which are required addressed in Section 3.38(a) hereof) for the operation of Borrower’s or Mortgage Borrower’s business, all of which are in full force and effect as of the date hereof and not subject to revocation, suspension, forfeiture or modification. Mortgage Borrower has used commercially reasonable efforts to cause each Tenant with respect to each Triple Net Leased Property to obtain all Permits for the operation of such Tenant’s business. (b) Except as set forth shown in the Zoning ReportReports, the each Individual Property and the present and contemplated use and occupancy thereof are in full compliance in all material respects with all applicable zoning ordinances, building codes, land use laws, Environmental Laws and other similar Legal Requirements. (c) The Each Individual Property is served by all utilities required for the current or contemplated use thereof. All utility service is provided by public utilities and the each Individual Property has accepted or is equipped to accept such utility service. (d) All public roads and streets necessary for service of and access to the each Individual Property for the current or contemplated use thereof have been completed, are serviceable and all-weather and are physically and legally open for use by the public. The Each Individual Property has either direct access to such public roads or streets or access to such public roads or streets by virtue of a perpetual easement or similar agreement inuring in favor of Mortgage Borrower and any subsequent owners of the applicable Individual Property. (e) The Each Individual Property is served by public water and sewer systems. (f) The Except as set forth on Schedule XXIV attached hereto, each Individual Property is free from material damage caused by fire or other casualty. Except as disclosed shown in the Physical Property Condition ReportReports, the (i) each Individual Property, including, without limitation, all buildings, improvements, parking facilities, sidewalks, storm drainage systems, roofs, plumbing systems, HVAC systems, fire protection systems, electrical systems, equipment, elevators, exterior sidings and doors, landscaping, irrigation systems and all structural components, are in good condition, order and repair in all material respects, subject to reasonable wear respects and tear; (ii) there exists no structural or other material defects or damages in the any Individual Property, whether latent or otherwise, and none of Borrower, any Mezzanine A Borrower, any Mezzanine B Borrower or any Mortgage Borrower has not received notice from any insurance company or bonding company of any defects or inadequacies in the any Individual Property, or any part thereof, which would adversely affect the insurability of the same or cause the imposition of extraordinary premiums or charges thereon or of any termination or threatened termination of any policy of insurance or bond. (g) All costs and expenses of any and all labor, materials, supplies and equipment used in the construction of the Improvements and incurred as of the date hereof have been or will be paid in full. Except as shown on the Title Insurance PolicyPolicies, there are no mechanics’ or similar liens or claims which have been filed for work, labor or material (and no rights are outstanding that under applicable Legal Requirements could give rise to affecting any such liens) affecting the Individual Property which are or may be prior to or equal to the lien of the applicable Security Instrument (other than liens that have either been bonded to the satisfaction of Lender, been fully insured to the satisfaction of Lender by the title company issuing the Title Insurance Policy or have otherwise been addressed in a manner approved by Lender)Instrument. (h) Mortgage Borrower has paid in full for, and is the owner of, all furnishings, fixtures and equipment (other than Tenants’ propertyand subtenants’ property or the property subject to a Permitted Equipment Lease) used in connection with the operation of the each Individual Property, free and clear of any and all security interests, liens or encumbrances, except the lien and security interest created by this Agreement, the Note, the Security Instrument and the other Loan DocumentsPermitted Encumbrances. (i) Except as shown in the Environmental Reports, all liquid and solid waste disposal, septic and sewer systems located on the each Individual Property are in a good and safe condition and repair and in compliance in all material respects with all Legal Requirements. (j) Except as shown expressly disclosed on the Survey, (i) no portion of the Improvements is located in an area identified by the Federal Emergency Management Agency or any successor thereto as an area having special flood hazards pursuant to the Flood Insurance Acts. Except as shown on the Survey, Acts and (ii) no part of the any Individual Property consists of or is classified as wetlands, tidelands or swamp and overflow lands. (k) Except as set forth in the Title Insurance Policy or the SurveyPolicies, all the Improvements lie within the boundaries of the Land and any building restriction lines applicable to the Land. (l) To Borrower’s knowledge, there are no pending or proposed special or other assessments for public improvements or otherwise affecting the Propertyany Individual Property (or any portion thereof), nor are there any contemplated improvements to the any Individual Property that may result in such special or other assessments. (m) Other Except as set forth on Schedule XXV and except for projects costing less than $100,000 (which projects costing less than $100,000 and not listed on Schedule XXV are not in connection with routine ongoing work and repairs, tenant build-out work required pursuant to the terms and provisions of Leases existing as excess of the Closing Date and other work and repairs described on Schedule VI heretoAlteration Threshold), none of Borrower, Mezzanine A Borrower, Mezzanine B Borrower or Mortgage Borrower has not (i) made, ordered or contracted for any construction, repairs, alterations or improvements to be made on or to the any Individual Property which have not been completed and paid for in full, (ii) ordered materials for any such construction, repairs, alterations or improvements which have not been paid for in full or (iii) attached any fixtures to the any Individual Property which have not been paid for in full. (n) Borrower does not have any has no direct employees.

Status of Property. (a) Except as otherwise disclosed to Lender, Borrower has obtained all Permits if any (other than Health Care Licenses which are required addressed in Section 3.38(a) hereof) for the operation of Borrower’s business, all of which are in full force and effect as of the date hereof and not subject to revocation, suspension, forfeiture or modification. Borrower has used commercially reasonable efforts to cause each Tenant with respect to each Triple Net Leased Property to obtain all Permits for the operation of such Tenant’s business. (b) Except as set forth shown in the Zoning ReportReports, the each Individual Property and the present and contemplated use and occupancy thereof are in full compliance in all material respects with all applicable zoning ordinances, building codes, land use laws, Environmental Laws and other similar Legal Requirements. (c) The Each Individual Property is served by all utilities required for the current or contemplated use thereof. All utility service is provided by public utilities and the each Individual Property has accepted or is equipped to accept such utility service. (d) All public roads and streets necessary for service of and access to the each Individual Property for the current or contemplated use thereof have been completed, are serviceable and all-weather and are physically and legally open for use by the public. The Each Individual Property has either direct access to such public roads or streets or access to such public roads or streets by virtue of a perpetual easement or similar agreement inuring in favor of Borrower and any subsequent owners of the applicable Individual Property. (e) The Each Individual Property is served by public water and sewer systems. (f) The Except as set forth on Schedule XXIV attached hereto, each Individual Property is free from material damage caused by fire or other casualty. Except as disclosed shown in the Physical Property Condition ReportReports, the (i) each Individual Property, including, without limitation, all buildings, improvements, parking facilities, sidewalks, storm drainage systems, roofs, plumbing systems, HVAC systems, fire protection systems, electrical systems, equipment, elevators, exterior sidings and doors, landscaping, irrigation systems and all structural components, are in good condition, order and repair in all material respects, subject to reasonable wear respects and tear; (ii) there exists no structural or other material defects or damages in the any Individual Property, whether latent or otherwise, and no Borrower has not received notice from any insurance company or bonding company of any defects or inadequacies in the any Individual Property, or any part thereof, which would adversely affect the insurability of the same or cause the imposition of extraordinary premiums or charges thereon or of any termination or threatened termination of any policy of insurance or bond. (g) All costs and expenses of any and all labor, materials, supplies and equipment used in the construction of the Improvements and incurred as of the date hereof have been or will be paid in full. Except as shown on the Title Insurance PolicyPolicies, there are no mechanics’ or similar liens or claims which have been filed for work, labor or material (and no rights are outstanding that under applicable Legal Requirements could give rise to affecting any such liens) affecting the Individual Property which are or may be prior to or equal to the lien of the applicable Security Instrument (other than liens that have either been bonded to the satisfaction of Lender, been fully insured to the satisfaction of Lender by the title company issuing the Title Insurance Policy or have otherwise been addressed in a manner approved by Lender)Instrument. (h) Borrower has paid in full for, and is the owner of, all furnishings, fixtures and equipment (other than Tenants’ propertyand subtenants’ property or the property subject to a Permitted Equipment Lease) used in connection with the operation of the each Individual Property, free and clear of any and all security interests, liens or encumbrances, except the lien and security interest created by this Agreement, the Note, the Security Instrument Instruments and the other Loan Documents. (i) Except as shown in the Environmental Reports, all liquid and solid waste disposal, septic and sewer systems located on the each Individual Property are in a good and safe condition and repair and in compliance in all material respects with all Legal Requirements. (j) Except as shown expressly disclosed on the Survey, (i) no portion of the Improvements is located in an area identified by the Federal Emergency Management Agency or any successor thereto as an area having special flood hazards pursuant to the Flood Insurance Acts. Except as shown on the Survey, Acts and (ii) no part of the any Individual Property consists of or is classified as wetlands, tidelands or swamp and overflow lands. (k) Except as set forth in the Title Insurance Policy or the SurveyPolicies, all the Improvements lie within the boundaries of the Land and any building restriction lines applicable to the Land. (l) To Borrower’s knowledge, there are no pending or proposed special or other assessments for public improvements or otherwise affecting the Propertyany Individual Property (or any portion thereof), nor are there any contemplated improvements to the any Individual Property that may result in such special or other assessments. (m) Other Except as set forth on Schedule XXV and except for projects costing less than $100,000 (which projects costing less than $100,000 and not listed on Schedule XXV are not in connection with routine ongoing work and repairs, tenant build-out work required pursuant to the terms and provisions of Leases existing as excess of the Closing Date and other work and repairs described on Schedule VI heretoAlteration Threshold), Borrower has not (i) made, ordered or contracted for any construction, repairs, alterations or improvements to be made on or to the any Individual Property which have not been completed and paid for in full, (ii) ordered materials for any such construction, repairs, alterations or improvements which have not been paid for in full or (iii) attached any fixtures to the any Individual Property which have not been paid for in full. (n) Borrower does not have any has no direct employees.

Status of Property. (a) Except No portion of the Improvements is located in an area identified by the Secretary of Housing and Urban Development or any successor thereto as otherwise disclosed an area having special flood hazards pursuant to Lenderthe National Flood Insurance Act of 1968, the Flood Disaster Protection Act of 1973 or the National Flood Insurance Reform Act of 1994, as each may be amended, or any successor law, or, if located within any such area, Borrower has obtained and will maintain the insurance prescribed in Section 3.3 hereof, if required under the terms of that Section. (b) Borrower has obtained and provided copies to Lender of all Permits. The Permits if any are required for the operation of Borrower’s business, all of which foregoing are in full force and effect as of the date hereof and not subject to revocation, suspension, forfeiture or modification. (bc) Except as set forth in the Zoning Report, the The Property and the present and contemplated use and occupancy thereof are in full compliance in all material respects with all applicable zoning ordinances, building codes, land use laws, and Environmental Laws and other similar Legal Requirementslaws. Borrower and the Property each comply in all material respects with Prescribed Laws. (cd) The Property is served by all utilities required for the current or contemplated use thereof. All utility service is provided by public utilities and the Property has accepted or is equipped to accept such utility service.. 34 (de) All public roads and streets necessary for service of and access to the Property for the current or contemplated use thereof have been completed, are serviceable and all-all weather and are physically and legally open for use by the public. The Property has either direct access to such public roads or streets or access to such public roads or streets by virtue of a perpetual easement or similar agreement inuring in favor of Borrower and any subsequent owners of the Property. (ef) The Property is served by public water and sewer systems. (fg) The Property is free from damage caused by fire or other casualty. Except as disclosed in the Physical Condition Report, the Property, including, without limitation, all buildings, improvements, parking facilities, sidewalks, storm drainage systems, roofs, plumbing systems, HVAC systems, fire protection systems, electrical systems, equipment, elevators, exterior sidings and doors, landscaping, irrigation systems and all structural components, are in good condition, order and repair in all material respects, subject to reasonable wear and tear; there exists no structural or other material defects or damages in the Property, whether latent or otherwise, and Borrower has not received notice from any insurance company or bonding company of any defects or inadequacies in the Property, or any part thereof, which would adversely affect the insurability of the same or cause the imposition of extraordinary premiums or charges thereon or of any termination or threatened termination of any policy of insurance or bond. (gh) All costs and expenses of any and all labor, materials, supplies and equipment used in the construction of the Improvements have been paid in full. Except as shown on the Title Insurance Policy, there are no mechanics’ or similar liens or claims which have been filed for work, labor or material (and no rights are outstanding that under applicable Legal Requirements could give rise to any such liens) affecting the Property which are or may be prior to or equal to the lien of the Security Instrument (other than liens that have either been bonded to the satisfaction of Lender, been fully insured to the satisfaction of Lender by the title company issuing the Title Insurance Policy or have otherwise been addressed in a manner approved by Lender). (hi) Borrower has paid in full for, and is the owner of, all furnishings, fixtures and equipment (other than Tenantstenants’ property) used in connection with the operation of the Property, free and clear of any and all security interests, liens or encumbrances, except the lien and security interest created by this Agreement, the Note, the Security Instrument and the other Loan Documentshereby. (ij) Except as shown in the Environmental Reports, all All liquid and solid waste disposal, septic and sewer systems located on the Property are in a good and safe condition and repair and in compliance with all Legal RequirementsApplicable Laws. (j) Except as shown on the Survey, no portion of the Improvements is located in an area identified by the Federal Emergency Management Agency or any successor thereto as an area having special flood hazards pursuant to the Flood Insurance Acts. Except as shown on the Survey, no part of the Property consists of or is classified as wetlands, tidelands or swamp and overflow lands. (k) Except as set forth in the Title Insurance Policy or the Survey, all the Improvements lie within the boundaries of the Land and any building restriction lines applicable to the Land. (l) To Borrower’s knowledge, there are no pending or proposed special or other assessments for public improvements or otherwise affecting the Property, nor are there any contemplated improvements to the Property that may result in such special or other assessments. (m) Other than in connection with routine ongoing work and repairs, tenant build-out work required pursuant to the terms and provisions of Leases existing as of the Closing Date and other work and repairs described on Schedule VI hereto, Borrower has not (i) made, ordered or contracted for any construction, repairs, alterations or improvements to be made on or to the Property which have not been completed and paid for in full, (ii) ordered materials for any such construction, repairs, alterations or improvements which have not been paid for in full or (iii) attached any fixtures to the Property which have not been paid for in full. (n) Borrower does not have any direct employees.

Status of Property. With respect to each Real ------------------ Property Asset, except as set forth on Schedule 12: (a) Except No portion of any improvement on the Real Property Asset is located in an area identified by the Secretary of Housing and Urban Development or any successor thereto as otherwise disclosed an area having special flood hazards pursuant to Lenderthe National Flood Insurance Act of 1968 or the Flood Disaster Protection Act of 1973, as amended, or any successor law, or, if located within any such area, Borrower or the respective Loan Party has obtained and will maintain the insurance prescribed in Section 5.03 hereof. (b) Borrower or the respective Loan Party has obtained all Permits if any are required necessary certificates, licenses and other approvals, governmental and otherwise, necessary for the operation of Borrower’s businessthe Real Property Asset and the conduct of its business and all required zoning, building code, land use, environmental and other similar permits or approvals, all of which are in full force and effect as of the date hereof and not subject to revocation, suspension, forfeiture or modificationhereof. (bc) Except as set forth in To the Zoning Reportbest knowledge of Borrower or the REIT, the Real Property Asset and the present and contemplated use and occupancy thereof are in full compliance with all applicable zoning ordinancesordinances (without reliance upon grandfather provisions or adjoining or other properties), building codes, land use and environmental laws, Environmental Laws laws relating to the disabled (including, but not limited to, the ADA) and other similar Legal Requirementslaws. (cd) The Real Property Asset is served by all utilities required for the current or contemplated use thereof. All utility service is provided by public utilities and the Real Property Asset has accepted or is equipped to accept such utility service. (de) All public roads and streets necessary for service of and access to the Real Property Asset for the current or contemplated use thereof have been completed, are serviceable and all-weather and are physically and legally open for use by the public. The Property has either direct access to such public roads or streets or access to such public roads or streets by virtue of a perpetual easement or similar agreement inuring in favor of Borrower and any subsequent owners of the Property. (ef) The Real Property Asset is served by public water and sewer systemssystems or, if the Real Property Asset is not serviced by a public water and sewer system, such alternate systems are adequate and meet, in all material respects, all requirements and regulations of, and otherwise complies in all material respects with, all Applicable Laws. (fg) Neither Borrower nor the respective Loan Party is aware of any latent or patent structural or other significant deficiency of the Real Property Asset. The Real Property Asset is free of damage and waste that would materially and adversely affect the value of the Real Property Asset, is in good repair and there is no deferred maintenance other than ordinary wear and tear. The Real Property Asset is free from damage caused by fire or other casualty. Except as disclosed in There is no pending or, to the Physical Condition Reportactual knowledge of Borrower or the REIT, threatened condemnation proceedings affecting the Property, including, without limitation, all buildings, improvements, parking facilities, sidewalks, storm drainage systems, roofs, plumbing systems, HVAC systems, fire protection systems, electrical systems, equipment, elevators, exterior sidings and doors, landscaping, irrigation systems and all structural components, are in good condition, order and repair in all material respects, subject to reasonable wear and tear; there exists no structural or other material defects or damages in the Property, whether latent or otherwise, and Borrower has not received notice from any insurance company or bonding company of any defects or inadequacies in the PropertyReal Property Asset, or any part thereof, which would adversely affect the insurability of the same or cause the imposition of extraordinary premiums or charges thereon or of any termination or threatened termination of any policy of insurance or bond. (gh) All To the best knowledge of Borrower or the REIT, all costs and expenses of any and all labor, materials, supplies and equipment used in the construction of the Improvements improvements on the Real Property Asset have either (i) been paid in full, (ii) are not yet due and payable or (iii) are being contested in good faith by Borrower or the applicable Loan Party. Except Subject to Borrower's or the respective Loan Party's right to contest as shown on the Title Insurance Policyset forth in any Permitted Mortgage Debt related to such Real Property Asset, there are no mechanics’ ' or similar liens or claims which that have been filed and recorded for work, labor or material (materials that affects the Real Property Asset and no rights are outstanding that under applicable Legal Requirements could give rise to any such liens) affecting the Property which are or may be liens prior to to, or equal to coordinate with, the lien of the this Security Instrument (other than liens that have either been bonded to the satisfaction of Lender, been fully insured to the satisfaction of Lender by the title company issuing the Title Insurance Policy or have otherwise been addressed in a manner approved by Lender)Instrument. (hi) Borrower or the respective Loan Party has paid in full for, and is the owner of, all furnishings, fixtures and equipment (other than Tenants’ tenants' property) used in connection with the operation of the PropertyReal Property Asset, free and clear of any and all security interests, liens or encumbrances, except for Permitted Liens and purchase money financing which is not a Lien on the lien fee title of such Real Property Asset and security interest created by this Agreement, is incurred in the Note, the Security Instrument and the other Loan Documentsordinary course of business. (ij) Except as shown in the Environmental Reports, all All liquid and solid waste disposal, septic and sewer systems located on the Real Property Asset are in a good and safe condition and repair and in compliance with all Legal Requirements. (j) Except as shown on the Survey, no portion of the Improvements is located in an area identified by the Federal Emergency Management Agency or any successor thereto as an area having special flood hazards pursuant to the Flood Insurance Acts. Except as shown on the Survey, no part of the Property consists of or is classified as wetlands, tidelands or swamp and overflow landsApplicable Laws. (k) Except as set forth in All amenities, access routes or other items that materially benefit the Title Insurance Policy Real Property Asset are under direct control of Borrower or the Surveyrespective Loan Party, constitute permanent easements that benefit all the Improvements lie within the boundaries or part of the Land Real Property Asset or are public property, and any building restriction lines applicable the Real Property Asset, by virtue of such easements or otherwise, is contiguous to a physically open, dedicated all weather public street, and has the Landnecessary permits for ingress and egress. (l) To Borrower’s knowledge, there There are no pending or proposed special delinquent taxes, ground rents, water charges, sewer rents, assessments (including assessments payable in future installments), insurance premiums, leasehold payments, or other assessments for public improvements or otherwise outstanding charges affecting the Property, nor are there any contemplated improvements to the Real Property that may result in such special or other assessmentsAsset. (m) Other than in connection with routine ongoing work and repairsThe Real Property Asset is assessed for real estate tax purposes as one or more wholly independent tax lot or lots, tenant build-out work required pursuant to the terms and provisions of Leases existing as of the Closing Date and other work and repairs described on Schedule VI hereto, Borrower has not (i) made, ordered or contracted for separate from any construction, repairs, alterations adjoining land or improvements to be made on not constituting a part of such lot or to the Property which have not been completed lots, and paid for in full, (ii) ordered materials for any such construction, repairs, alterations no other land or improvements which have not been paid for in full is assessed and taxed together with the Real Property Asset or (iii) attached any fixtures to the Property which have not been paid for in fullportion thereof. (n) With respect to Leases which relate to Real Property Assets owned by Borrower does or the respective Loan Party, (i) Borrower or the respective Loan Party is the sole owner of the entire lessor's interest in the Leases; (ii) to the best knowledge of Borrower or the REIT, the Leases are valid and enforceable; (iii) the terms of all alterations, modifications and amendments to the Leases are reflected in the certified occupancy statement delivered to and approved by Agent; (iv) with respect to the Unencumbered Assets none of the rents reserved in the Leases have been assigned or otherwise pledged or hypothecated; (v) none of the rents have been collected for more than one (1) month in advance; (vi) the premises demised under the Leases have been completed and the tenants under the Leases have accepted the same and have taken possession of the same on a rent-paying basis; (vii) to the best knowledge of Borrower or the REIT, there exist no offsets or defenses to the payment of any portion of the rents; (viii) with respect to Unencumbered Assets no Lease contains an option to purchase, right of first refusal to purchase, or any other similar provision; (ix) no person or entity has any possessory interest in, or right to occupy, the Real Property Asset except under and pursuant to a Lease; (x) with respect to Unencumbered Assets, there are no prior assignments, pledges, hypothecations or other encumbrances of any Leases or any portion of rents due and payable or to become due and payable thereunder which are presently outstanding; and (xi) the Real Property Asset is not have subject to any direct employeesLease other than the Leases described in the rent rolls delivered pursuant to Section 5.01(a). (o) No portion of the Real Property Asset has been or will be purchased with proceeds of any illegal activity. (p) All contracts, agreements, consents, waivers, documents and writings of every kind or character at any time to which the Borrower or any Loan Party is a party to be delivered to Agent pursuant to any of the provisions hereof are valid and enforceable against the Borrower and such Loan Party and, to the best knowledge of Borrower, are enforceable against all other parties thereto, and in all respects are what they purport to be and, to the best knowledge of Borrower, to the extent that any such writing shall impose any obligation or duty on the party thereto or constitute a waiver of any rights which any such party might otherwise have, said writing shall be valid and enforceable against said party in accordance with the terms, except as such enforcement may be limited by applicable bankruptcy, insolvency, reorganization or similar laws affecting the rights of creditors generally.

Status of Property. Except as disclosed in the Surveys, Title Insurance Policies, the Zoning Reports, the Property Conditions Reports and as otherwise expressly disclosed in writing by or on behalf of Borrower to Lender, to Borrower’s actual knowledge: (a) Except as otherwise disclosed to Lender, Each Borrower has obtained all Permits if any are required for the operation of Borrower’s business, all of which are in full force and effect as of the date hereof and not subject to revocation, suspension, forfeiture or modification. Borrower has used commercially reasonable efforts to cause each Tenant under each Leased Fee Lease to obtain all Permits for the operation of such Tenant’s business. (b) Except as set forth in the Zoning Report, the Each Individual Property and the present and contemplated use and occupancy thereof are in full compliance with all applicable zoning ordinances, building codes, land use laws, Environmental Laws and other similar Legal Requirements. (c) The Each Individual Property is served by all utilities required for the current or contemplated use thereof. All utility service is provided by public utilities and the each Individual Property has accepted or is equipped to accept such utility service. (d) All public roads and streets necessary for service of and access to the each Individual Property for the current or contemplated use thereof have been completed, are serviceable and all-weather and are physically and legally open for use by the public. The Each Individual Property has either direct access to such public roads or streets or access to such public roads or streets by virtue of a perpetual easement or similar agreement inuring in favor of Borrower and any subsequent owners of the applicable Individual Property. (e) The Each Individual Property is served by public water and sewer systems. (f) The Each Individual Property is free from damage caused by fire or other casualty. Except as disclosed in the Physical Condition Report, the Each Individual Property, including, without limitation, all buildings, improvements, parking facilities, sidewalks, storm drainage systems, roofs, plumbing systems, HVAC systems, fire protection systems, electrical systems, equipment, elevators, exterior sidings and doors, landscaping, irrigation systems and all structural components, are in good condition, order and repair in all material respects, subject to reasonable wear respects and tear; there exists no structural or other material defects or damages in the any Individual Property, whether latent or otherwise, and Borrower has not received notice from any insurance company or bonding company of any defects or inadequacies in the any Individual Property, or any part thereof, which would adversely affect the insurability of the same or cause the imposition of extraordinary premiums or charges thereon or of any termination or threatened termination of any policy of insurance or bond. (g) All costs and expenses of any and all labor, materials, supplies and equipment used in the construction of the Improvements have been paid in full. Except as shown on the Title Insurance Policy, there There are no mechanics’ or similar liens or claims which have been filed for work, labor or material (and no rights are outstanding that under applicable Legal Requirements could give rise to any such liens) affecting the any Individual Property which are or may be prior to or equal to the lien of the Security Instrument (other than liens that have either been bonded to the satisfaction of Lender, been fully insured to the satisfaction of Lender by the title company issuing the Title Insurance Policy or have otherwise been addressed in a manner approved by Lender)Instrument. (h) Borrower has paid in full for, and is The use of each Individual Property by the owner of, all furnishings, fixtures and equipment (other than Tenants’ property) used in connection with applicable Tenant under the operation of the Property, free and clear of any and all security interests, liens or encumbrances, except the lien and security interest created by this Agreement, the Note, the Security Instrument Leased Fee Lease and the other Loan Documentsaccessory uses will not violate in any material respect (i) any Legal Requirements (including any Environmental Laws) or (ii) any building permits affecting any Individual Property or any part thereof. (i) Except as shown in the Environmental Reports, all All liquid and solid waste disposal, septic and sewer systems located on the each Individual Property are in a good and safe condition and repair and in compliance with all Legal Requirements. (j) Except as shown on the Survey, no No portion of the Improvements is located in an area identified by the Federal Emergency Management Agency or any successor thereto as an area having special flood hazards pursuant to the Flood Insurance Acts. Except as shown on the Survey, no No part of the any Individual Property consists of or is classified as wetlands, tidelands or swamp and overflow lands. (k) Except as set forth in the Title Insurance Policy or the Survey, all All the Improvements lie within the boundaries of the Land and any building restriction lines applicable to the Land. (l) To Borrower’s knowledge, there There are no pending or proposed special or other assessments for public improvements or otherwise affecting the Propertyany Individual Property for which Tenants are not responsible, nor are there any contemplated improvements to the any Individual Property that may result in such special or other assessmentsassessments for which Tenants under the Leased Fee Leases are not responsible. (m) Other than in connection with routine ongoing work and repairs, tenant build-out work required pursuant to the terms and provisions of Leases existing as of the Closing Date and other work and repairs described on Schedule VI hereto, Borrower has not (i) made, ordered or contracted for any construction, repairs, alterations or improvements to be made on or to the any Individual Property which have not been completed and paid for in full, (ii) ordered materials for any such construction, repairs, alterations or improvements which have not been paid for in full or (iii) attached any fixtures to the any Individual Property which have not been paid for in full. There is no such construction, repairs, alterations or improvements by Borrower ongoing at any Individual Property as of the Closing Date. There are no outstanding or disputed claims for any Work Charges and there are no outstanding liens or security interests in connection with any Work Charges. (n) Borrower does not have any has no direct employees.

Status of Property. (a) Except as otherwise disclosed to Lender, Borrower has obtained all Permits if any are required necessary certificates, licenses and other approvals, governmental and otherwise, necessary for the operation of Borrower’s businessthe Properties and the conduct of its business and all required zoning, building code, land use, environmental and other similar permits or approvals, all of which are in full force and effect as of the date hereof and not subject to revocation, suspension, forfeiture or modification, subject, however, to the legal nonconforming use of the Properties identified on Schedule II attached hereto. (b) Except as set forth in the Zoning Report, the Each Individual Property and the present and contemplated use and occupancy thereof are in full compliance with all applicable zoning ordinances, building codes, land use laws, Environmental Laws and other similar Legal Requirements, subject, however, to the legal nonconforming use of the Properties identified on Schedule II attached hereto. (c) The Each Individual Property is served by all utilities required for the current or contemplated use thereof. All utility service is provided by public utilities and the each Individual Property has accepted or is equipped to accept such utility service. (d) All public roads and streets necessary for service of and access to the each Individual Property for the current or contemplated use thereof have been completed, are serviceable and all-weather and are physically and legally open for use by the public. The Each Individual Property has either direct access to such public roads or streets or access to such public roads or streets by virtue of a perpetual easement or similar agreement inuring in favor of Borrower and any subsequent owners of the such Individual Property. (e) The Each Individual Property is served by public water and sewer systems. (f) The Each Individual Property is free from damage caused by fire or other casualty. Except as disclosed in the Physical Condition Report, the Each Individual Property, including, without limitation, all buildings, improvements, parking facilities, sidewalks, storm drainage systems, roofs, plumbing systems, HVAC systems, fire protection systems, electrical systems, equipment, elevators, exterior sidings and doors, landscaping, irrigation systems and all structural components, are in good condition, order and repair in all material respects, subject ; to reasonable wear and tear; Borrower’s knowledge there exists no structural or other material defects or damages in the any Individual Property, whether latent or otherwise, and Borrower has not received notice from any insurance company or bonding company of any defects or inadequacies in the any Individual Property, or any part thereof, which would adversely affect the insurability of the same or cause the imposition of extraordinary premiums or charges thereon or of any termination or threatened termination of any policy of insurance or bond. (g) All costs and expenses of any and all labor, materials, supplies and equipment used in the construction of the Improvements have been paid in full. Except as shown on the Title Insurance Policy, there There are no mechanics’ or similar liens or claims which have been filed for work, labor or material (and no rights are outstanding that under applicable Legal Requirements could give rise to any such liens) affecting the any Individual Property which are or may be prior to or equal to the lien of the applicable Security Instrument (other than liens that have either been bonded to the satisfaction of Lender, been fully insured to the satisfaction of Lender by the title company issuing the Title Insurance Policy or have otherwise been addressed in a manner approved by Lender)Instrument. (h) Borrower has paid in full for, and is the owner of, all furnishings, fixtures and equipment (other than Tenants’ property) used in connection with the operation of the PropertyProperties, free and clear of any and all security interests, liens or encumbrances, except the lien and security interest created by this Agreement, the Note, the Security Instrument Instruments and the other Loan Documents. (i) Except as shown in the Environmental Reports, all All liquid and solid waste disposal, septic and sewer systems located on the Property Properties are in a good and safe condition and repair and in compliance with all Legal Requirements. (j) Except as shown expressly disclosed on the Surveyany Survey delivered in connection with this Loan, no portion of the Improvements is located in an area identified by the Federal Emergency Management Agency or any successor thereto as an area having special flood hazards pursuant to the Flood Insurance Acts. Except as shown on the Survey, no No part of the any Individual Property consists of or is classified as wetlands, tidelands or swamp and overflow lands. (k) Except as set forth in the Title Insurance Policy or the Survey, all All the Improvements lie within the boundaries of the Land and any building restriction lines applicable to the Land. (l) To Borrower’s knowledge, knowledge there are no pending or proposed special or other assessments for public improvements or otherwise affecting the any Individual Property, nor are there any contemplated improvements to the any Individual Property that may result in such special or other assessments. (m) Other than in connection with routine ongoing work and repairs, tenant build-out work required pursuant to the terms and provisions of Leases existing as of the Closing Date and other work and repairs described on Schedule VI hereto, Borrower has not (i) made, ordered or contracted for any construction, repairs, alterations or improvements to be made on or to the Property which have not been completed and paid for in full, (ii) ordered materials for any such construction, repairs, alterations or improvements which have not been paid for in full or (iii) attached any fixtures to the Property which have not been paid for in full. (n) Borrower does not have any direct employees.

Status of Property. (a) Except as otherwise disclosed to LenderTo Borrower’s knowledge, Borrower has obtained all material Permits if any are required for (the operation absence of Borrower’s businesswhich could reasonably be expected to have an Individual Material Adverse Effect or Aggregate Material Adverse Effect), all of which are in full force and effect as of the date hereof and not subject to revocation, suspension, forfeiture or modification. (b) Except as set forth otherwise disclosed by the Environmental Report (as defined in the Zoning ReportEnvironmental Indemnity), the to ▇▇▇▇▇▇▇▇’s knowledge, each Individual Property and the present use and the contemplated use and occupancy thereof are in full compliance in all material respects with all applicable zoning ordinances, building codes, land use laws, Environmental Laws and other similar Legal Requirements. (c) The Each Individual Property is served by all utilities required for the current or contemplated use thereof. All utility service is services are provided by public utilities and the each Individual Property has accepted or is equipped to accept such utility service. (d) All public roads and streets necessary for service of and access to the each Individual Property for the current or contemplated use thereof have been completed, are serviceable and all-weather and are physically and legally open for use by the public. The Each Individual Property has either direct access to such public roads or streets or access to such public roads or streets by virtue of a perpetual easement or similar agreement inuring in favor of Borrower and any subsequent owners of the each Individual Property. (e) The Each Individual Property is served by public water and sewer systems. (f) The Except as otherwise disclosed in the property condition report delivered to Lender in connection with the closing of the Loan, to Borrower’s knowledge, (i) each Individual Property is free from damage caused by fire or other casualty. Except as disclosed in the Physical Condition Report, the (ii) each Individual Property, including, without limitation, all buildings, improvements, parking facilities, sidewalks, storm drainage systems, roofs, plumbing systems, HVAC systems, fire protection systems, electrical systems, equipment, elevators, exterior sidings and doors, landscaping, irrigation systems and all structural components, are in good condition, order and repair in all material respects, subject to reasonable wear ; and tear; (iii) there exists no structural or other material defects or damages in the each Individual Property, whether latent or otherwise, and Borrower has not received written notice from any insurance company or bonding company of any defects or inadequacies in the each Individual Property, or any part thereof, which would adversely affect in any material respect the insurability of the same or cause the imposition of extraordinary premiums or charges thereon or of any termination or threatened termination of any policy of insurance or bond. (g) All costs and expenses of any and all labor, materials, supplies and equipment used in the construction of the Improvements have been paid in full. Except as shown on the Title Insurance Policy, there There are no mechanics’ or similar liens or claims which have been filed for work, labor or material (and no rights are outstanding that under applicable Legal Requirements could give rise to any such liens) affecting the each Individual Property which are or may be become a lien prior to or equal to the lien of the Security Instrument (other than liens that have either been bonded to the satisfaction of Lender, been fully insured to the satisfaction of Lender by the title company issuing the Title Insurance Policy or have otherwise been addressed in a manner approved by Lender).Instrument. ​ ​ ​ ​ -57- ​ ​ ​ ​ (h) Borrower has paid in full for, and is the owner of, all material furnishings, fixtures and equipment (other than Tenants’ property or the property, if any, and equipment leased under any Permitted Equipment Lease) used in connection with the operation of the each Individual Property, free and clear of any and all security interests, liens or encumbrances, except the lien and security interest created by this Agreement, the Note, the Security Instrument and the other Loan DocumentsDocuments and other Permitted Encumbrances. (i) Except as shown otherwise disclosed in the Environmental Reportsproperty condition report delivered to Lender in connection with the closing of the Loan, to Borrower’s knowledge, all liquid and solid waste disposal, septic and sewer systems located on the each Individual Property are in a good and safe condition and repair and in compliance in all material respects with all Legal Requirements. (j) Except as shown expressly disclosed on the Survey, (i) no portion of the Improvements is located in an area identified by the Federal Emergency Management Agency or any successor thereto as an area having special flood hazards pursuant to the Flood Insurance Acts. Except as shown on the Survey, Acts and (ii) no part of the any Individual Property consists of or is classified as wetlands, tidelands or swamp and overflow lands. (k) Except as for encroachments expressly set forth in the Survey and that are insured against pursuant to the Title Insurance Policy or the SurveyPolicy, to Borrower’s knowledge, all the Improvements lie within the boundaries of the Land and any building restriction lines applicable to the Land. (l) To Borrower’s knowledge, there are no pending or proposed special or other assessments for public improvements or otherwise affecting the any Individual Property, nor are there any contemplated improvements to the any Individual Property that may result in such special or other assessments. (m) Other than Except as otherwise disclosed to Lender in connection with routine ongoing work and repairswriting, tenant build-out work required pursuant prior to the terms and provisions of Leases existing as of the Closing Date and other work and repairs described on Schedule VI heretoin connection with the closing of the Loan, Borrower has not (i) made, ordered or contracted for any construction, repairs, alterations or improvements to be made on or to the any Individual Property which have not been completed and paid for in fullprior to the same becoming due and delinquent, (ii) ordered any material amounts of materials for any such construction, repairs, alterations or improvements which have not been paid for in full prior to the same becoming due and delinquent or (iii) attached any material fixtures to the any Individual Property which have not been paid prior to the same becoming due and delinquent. There is no such construction, repairs, alterations or improvements ongoing at any Individual Property as of the Closing Date other than such construction, repairs alterations or improvements made in the ordinary course of business, and those of which have been disclosed to Lender in writing, prior to the Closing Date and in connection with the closing of the Loan. There are no outstanding or disputed claims for any Work Charges that have either been filed or delivered to Borrower in fullwriting, and there are no outstanding filed liens or security interests (other than any unwritten, inchoate security interests that exist as a matter of law) in connection with any Work Charges. (n) Borrower does not have any has no direct employees. All personnel employed at or in connection with any Individual Property are the direct employees of Manager or Sub-Manager.

Status of Property. (a) Except as otherwise disclosed to Lender, Each of Borrower and Mortgage Borrower has obtained all Permits if any are required for the operation of Borrower’s businessPermits, all of which are in full force and effect as of the date hereof and not subject to revocation, suspension, forfeiture or modification, except where the failure to obtain or keep in full force and effect such Permits would not reasonably be expected to have a Material Adverse Effect. (b) Except as set forth on Schedule XXV attached hereto (with respect to the building violations at the ▇▇▇▇▇▇ Property which are also addressed in the Zoning ReportPost Closing Agreement), the each Individual Property and the present and contemplated use and occupancy thereof are in full compliance with all applicable zoning ordinances, building codes, land use laws, Environmental Laws and other similar Legal Requirements. (c) The Each Individual Property is served by all utilities required for the current or contemplated use thereof. All Except as set forth on Schedule XXV attached hereto (with respect to certain waste disposal services identified on such Schedule), all utility service is provided by public utilities and the Property has accepted or is equipped to accept such utility service. (d) All public roads and streets necessary for service of and access to the each Individual Property for the current or contemplated use thereof have been completed, are serviceable and all-weather and are physically and legally open for use by the public. The Each Individual Property has either direct access to such public roads or streets or access to such public roads or streets by virtue of a perpetual easement or similar agreement inuring in favor of Mortgage Borrower and any subsequent owners of the applicable Individual Property. (e) The Each Individual Property is served by public water and sewer systems. (f) The Each Individual Property is free from damage caused by fire or other casualty. Except as disclosed in the Physical Condition Report, the Each Individual Property, including, without limitation, all buildings, improvements, parking facilities, sidewalks, storm drainage systems, roofs, plumbing systems, HVAC systems, fire protection systems, electrical systems, equipment, elevators, exterior sidings and doors, landscaping, irrigation systems and all structural components, are in good condition, order and repair in all material respects, subject to reasonable wear and tear; there exists no structural or other material defects or damages in the such Individual Property, whether latent or otherwise, and neither Borrower nor Mortgage Borrower has not received notice from any insurance company or bonding company of any defects or inadequacies in the such Individual Property, or any part thereof, which would adversely affect the insurability of the same or cause the imposition of extraordinary premiums or charges thereon or of any termination or threatened termination of any policy of insurance or bond. (g) All costs and expenses of any and all labor, materials, supplies and equipment used in the construction of the Improvements have been paid in full. Except as shown on the Title Insurance Policy, there There are no mechanics’ or similar liens or claims which have been filed for work, labor or material (and no rights are outstanding that under applicable Legal Requirements could give rise to any such liens) affecting the any Individual Property which are or may be prior to or equal to the lien of the related Security Instrument (other than liens that have either been bonded to or the satisfaction of Lender, been fully insured to the satisfaction of Lender by the title company issuing the Title Insurance Policy or have otherwise been addressed in a manner approved by Lender).Pledge Agreement (h) Each Mortgage Borrower has paid in full for, and is the owner of, all furnishings, fixtures and equipment (other than Tenants’ propertyproperty or the property subject to a Permitted Equipment Lease) used in connection with the operation of the related Individual Property, free and clear of any and all security interests, liens or encumbrances, except as set forth on Schedule XXV attached hereto (with respect to the UCC filing against the copiers and fax machines identified on such Schedule) and except for the lien and security interest created by this Agreement, the Note, the Security Instrument and the other Mortgage Loan Documents. (i) Except as shown in the Environmental ReportsTo Borrower’s knowledge, all liquid and solid waste disposal, septic and sewer systems located on the each Individual Property are in a good and safe condition and repair and in compliance with all Legal Requirements. (j) Except as shown expressly disclosed on the Survey, no portion of the Improvements is located in an area identified by the Federal Emergency Management Agency or any successor thereto as an area having special flood hazards pursuant to the Flood Insurance Acts. Except as shown on the Survey, no No part of the any Individual Property consists of or is classified as wetlands, tidelands or swamp and overflow lands. (k) Except as set forth in the Title Insurance Policy or on the Survey, all the Improvements lie within the boundaries of the Land and any building restriction lines applicable to the Land. (l) To Borrower’s knowledge, there are no pending or proposed special or other assessments for public improvements or otherwise affecting the any Individual Property, nor are there any contemplated improvements to the any Individual Property that may result in such special or other assessments. (m) Other than in connection with routine ongoing work and repairs, tenant build-out work required pursuant to the terms and provisions of Leases existing as of the Closing Date and other work and repairs described on Schedule VI hereto, Mortgage Borrower has not (i) made, ordered or contracted for any construction, repairs, alterations or improvements to be made on or to the any Individual Property which have not been completed and paid for in full, (ii) ordered materials for any such construction, repairs, alterations or improvements which have not been paid for in full or (iii) attached any fixtures to the any Individual Property which have not been paid for in full. Except as set forth on Schedule XXV attached hereto (with respect to identified work at the Delano Property), there is no such construction, alterations or improvements ongoing at the Property as of the Closing Date. There are no outstanding or disputed claims for any Work Charges and there are no outstanding liens or security interests in connection with any Work Charges. (n) Mortgage Borrower does not have any has no direct employees. All other personnel employed at or in connection with the Property are the direct employees of Manager.

Status of Property. Except as disclosed in the Surveys, Title Insurance Policies, the Zoning Reports, the Property Conditions Reports and as otherwise expressly disclosed in writing by or on behalf of Borrower to Lender, to B▇▇▇▇▇▇▇’s actual knowledge: (a) Except as otherwise disclosed to Lender, Each Borrower has obtained all Permits if any are required for the operation of BorrowerB▇▇▇▇▇▇▇’s business, all of which are in full force and effect as of the date hereof and not subject to revocation, suspension, forfeiture or modification. Borrower has used commercially reasonable efforts to cause each Tenant under each Leased Fee Lease to obtain all Permits for the operation of such Tenant’s business. (b) Except as set forth in the Zoning Report, the Each Individual Property and the present and contemplated use and occupancy thereof are in full compliance with all applicable zoning ordinances, building codes, land use laws, Environmental Laws and other similar Legal Requirements. (c) The Each Individual Property is served by all utilities required for the current or contemplated use thereof. All utility service is provided by public utilities and the each Individual Property has accepted or is equipped to accept such utility service. (d) All public roads and streets necessary for service of and access to the each Individual Property for the current or contemplated use thereof have been completed, are serviceable and all-weather and are physically and legally open for use by the public. The Each Individual Property has either direct access to such public roads or streets or access to such public roads or streets by virtue of a perpetual easement or similar agreement inuring in favor of Borrower and any subsequent owners of the applicable Individual Property. (e) The Each Individual Property is served by public water and sewer systems. (f) The Each Individual Property is free from damage caused by fire or other casualty. Except as disclosed in the Physical Condition Report, the Each Individual Property, including, without limitation, all buildings, improvements, parking facilities, sidewalks, storm drainage systems, roofs, plumbing systems, HVAC systems, fire protection systems, electrical systems, equipment, elevators, exterior sidings and doors, landscaping, irrigation systems and all structural components, are in good condition, order and repair in all material respects, subject to reasonable wear respects and tear; there exists no structural or other material defects or damages in the any Individual Property, whether latent or otherwise, and Borrower has not received notice from any insurance company or bonding company of any defects or inadequacies in the any Individual Property, or any part thereof, which would adversely affect the insurability of the same or cause the imposition of extraordinary premiums or charges thereon or of any termination or threatened termination of any policy of insurance or bond. (g) All costs and expenses of any and all labor, materials, supplies and equipment used in the construction of the Improvements have been paid in full. Except as shown on the Title Insurance Policy, there There are no mechanics’ or similar liens or claims which have been filed for work, labor or material (and no rights are outstanding that under applicable Legal Requirements could give rise to any such liens) affecting the any Individual Property which are or may be prior to or equal to the lien of the Security Instrument (other than liens that have either been bonded to the satisfaction of Lender, been fully insured to the satisfaction of Lender by the title company issuing the Title Insurance Policy or have otherwise been addressed in a manner approved by Lender)Instrument. (h) Borrower has paid in full for, and is The use of each Individual Property by the owner of, all furnishings, fixtures and equipment (other than Tenants’ property) used in connection with applicable Tenant under the operation of the Property, free and clear of any and all security interests, liens or encumbrances, except the lien and security interest created by this Agreement, the Note, the Security Instrument Leased Fee Lease and the other Loan Documentsaccessory uses will not violate in any material respect (i) any Legal Requirements (including any Environmental Laws) or (ii) any building permits affecting any Individual Property or any part thereof. (i) Except as shown in the Environmental Reports, all All liquid and solid waste disposal, septic and sewer systems located on the each Individual Property are in a good and safe condition and repair and in compliance with all Legal Requirements. (j) Except as shown on the Survey, no No portion of the Improvements is located in an area identified by the Federal Emergency Management Agency or any successor thereto as an area having special flood hazards pursuant to the Flood Insurance Acts. Except as shown on the Survey, no No part of the any Individual Property consists of or is classified as wetlands, tidelands or swamp and overflow lands. (k) Except as set forth in the Title Insurance Policy or the Survey, all All the Improvements lie within the boundaries of the Land and any building restriction lines applicable to the Land. (l) To Borrower’s knowledge, there There are no pending or proposed special or other assessments for public improvements or otherwise affecting the Propertyany Individual Property for which Tenants are not responsible, nor are there any contemplated improvements to the any Individual Property that may result in such special or other assessmentsassessments for which Tenants under the Leased Fee Leases are not responsible. (m) Other than in connection with routine ongoing work and repairs, tenant build-out work required pursuant to the terms and provisions of Leases existing as of the Closing Date and other work and repairs described on Schedule VI hereto, Borrower has not (i) made, ordered or contracted for any construction, repairs, alterations or improvements to be made on or to the any Individual Property which have not been completed and paid for in full, (ii) ordered materials for any such construction, repairs, alterations or improvements which have not been paid for in full or (iii) attached any fixtures to the any Individual Property which have not been paid for in full. There is no such construction, repairs, alterations or improvements by Borrower ongoing at any Individual Property as of the Closing Date. There are no outstanding or disputed claims for any Work Charges and there are no outstanding liens or security interests in connection with any Work Charges. (n) Borrower does not have any has no direct employees.

Status of Property. (a) Except as otherwise disclosed to Lender, Borrower has obtained all Permits if any are required for the operation of Borrower’s business, all of which are in full force and effect as of the date hereof and not subject to revocation, suspension, forfeiture or modification. (b) Except as set forth in the Zoning ReportReports, the each Individual Property and the present and contemplated use and occupancy thereof are in full compliance with all applicable zoning ordinances, building codes, land use laws, Environmental Laws and other similar Legal Requirements. (c) The Each Individual Property is served by all utilities required for the current or contemplated use thereof. All utility service is provided by public utilities and the each Individual Property has accepted or is equipped to accept such utility service. (d) All public roads and streets necessary for service of and access to the each Individual Property for the current or contemplated use thereof have been completed, are serviceable and all-weather and are physically and legally open for use by the public. The Each Individual Property has either direct access to such public roads or streets or access to such public roads or streets by virtue of a perpetual easement or similar agreement inuring in favor of Borrower and any subsequent owners of the applicable Individual Property. (e) The Each Individual Property is served by public water and sewer systems. (f) The Each Individual Property is free from damage caused by fire or other casualty. Except as disclosed in the applicable Physical Condition Report, the each Individual Property, including, without limitation, all buildings, improvements, parking facilities, sidewalks, storm drainage systems, roofs, plumbing systems, HVAC systems, fire protection systems, electrical systems, equipment, elevators, exterior sidings and doors, landscaping, irrigation systems and all structural components, are in good condition, order and repair in all material respects, subject to reasonable wear and tear; there exists no structural or other material defects or damages in the any Individual Property, whether latent or otherwise, and Borrower has not received notice from any insurance company or bonding company of any defects or inadequacies in the any Individual Property, or any part thereof, which would adversely affect the insurability of the same or cause the imposition of extraordinary premiums or charges thereon or of any termination or threatened termination of any policy of insurance or bond. (g) All costs and expenses of any and all labor, materials, supplies and equipment used in the construction of the Improvements have been paid in full. Except as shown on the Title Insurance PolicyPolicies, there are no mechanics’ or similar liens or claims which have been filed for work, labor or material (and no rights are outstanding that under applicable Legal Requirements could give rise to any such liens) affecting the any Individual Property which are or may be prior to or equal to the lien of the related Security Instrument (other than liens that have either been bonded to the satisfaction of Lender, been fully insured to the satisfaction of Lender by the title company issuing the Title Insurance Policy or have otherwise been addressed in a manner approved by Lender)Instrument. (h) Borrower has paid in full for, and is the owner of, all furnishings, fixtures and equipment (other than Tenants’ property) used in connection with the operation of the PropertyProperties, free and clear of any and all security interests, liens or encumbrances, except the lien and security interest created by this Agreement, the Note, the Security Instrument Instruments and the other Loan Documents. (i) Except as shown in the Environmental Reports, all liquid and solid waste disposal, septic and sewer systems located on the each Individual Property are in a good and safe condition and repair and in compliance with all Legal Requirements. (j) Except as shown on the Survey, no portion of the Improvements is located in an area identified by the Federal Emergency Management Agency or any successor thereto as an area having special flood hazards pursuant to the Flood Insurance Acts. Except as shown on the Survey, no part of the any Individual Property consists of or is classified as wetlands, tidelands or swamp and overflow lands. (k) Except as set forth in the Title Insurance Policy Policies or the Survey, all the Improvements lie within the boundaries of the Land and any building restriction lines applicable to the Land. (l) To Borrower’s knowledgeknowledge after due inquiry, there are no pending or proposed special or other assessments for public improvements or otherwise affecting the any Individual Property, nor are there any contemplated improvements to the any Individual Property that may result in such special or other assessments. (m) Other than Except for certain striping of parking spaces as set forth in connection with routine ongoing work and repairs, tenant build-out work required pursuant to the terms and provisions of Leases existing as of the Post Closing Date and other work and repairs described on Schedule VI heretoAgreement, Borrower has not (i) made, ordered or contracted for any construction, repairs, alterations or improvements to be made on or to the any Individual Property which have not been completed and paid for in full, (ii) ordered materials for any such construction, repairs, alterations or improvements which have not been paid for in full or (iii) attached any fixtures to the any Individual Property which have not been paid for in full. Except for certain striping of parking spaces as set forth in the Post Closing Agreement, (x) there is no such construction, repairs, alterations or improvements ongoing at any Individual Property as of the Closing Date and (y) there are no outstanding or disputed claims for any Work Charges and there are no outstanding liens or security interests in connection with any Work Charges. (n) No Borrower does not have has any direct employees.

Status of Property. (a) Except as otherwise disclosed to LenderTo Borrower’s knowledge, Borrower has obtained all Permits if any are required necessary certificates, licenses and other approvals, governmental and otherwise, necessary for the operation of Borrower’s businesseach Individual Property and the conduct of its business and all required zoning, building code, land use, environmental and other similar permits or approvals, all of which are in full force and effect as of the date hereof and not presently subject to revocation, suspension, forfeiture or modification. (b) Except as set forth in the Zoning ReportTo Borrower’s knowledge, the each Individual Property and the present and contemplated use and occupancy thereof are in full material compliance with all applicable zoning ordinances, building codes, land use laws, Environmental Laws and other similar Legal RequirementsApplicable Law. (c) The Each Individual Property is served by all utilities required for the current or contemplated use thereof. All utility service is provided by public utilities and the each Individual Property has accepted or is equipped to accept such utility service. (d) Each Individual Property is served by public water and sewer systems. (e) All public roads and streets necessary for service of and access to the each Individual Property for the current or contemplated use thereof have been completed, are serviceable and all-weather and are physically and legally open for use by the public. The Each Individual Property has either direct access to such public roads or streets or access to such public roads or streets by virtue of a perpetual easement or similar agreement inuring in favor of Borrower and any subsequent owners of the applicable Individual Property. (e) The Property is served by public water and sewer systems. (f) The Property is free from damage caused by fire or other casualty. Except as for any matters disclosed in the Physical Condition Reportproperty condition report delivered to Administrative Agent with respect to the Property, to Borrower’s knowledge the Property, including, without limitation, all buildings, improvements, parking facilities, sidewalks, storm drainage systems, roofs, plumbing systems, HVAC systems, fire protection systems, electrical systems, equipment, elevators, exterior sidings and doors, landscaping, irrigation systems and all structural components, are in good condition, order and repair in all material respects, subject to reasonable wear and tear; there exists no structural or other material defects or damages in the Property, whether latent or otherwise, and Borrower has not received notice from any insurance company or bonding company of any defects or inadequacies in the Property, or any part thereof, which would adversely affect the insurability of the same or cause the imposition of extraordinary premiums or charges thereon or of any termination or threatened termination of any policy of insurance or bond. (g) All To Borrower’s knowledge, all costs and expenses of any and all labor, materials, supplies and equipment used in the construction of the Improvements have been paid in fullfull (other than approximately $250,000.00 remaining to be paid by USAA to various paving and roofing subcontractors for the completion of the Improvements located at the ▇▇▇▇▇▇▇▇ Property). Except as shown on the Title Insurance PolicyTo Borrower’s knowledge, there are no mechanics’ or similar liens or claims which have been filed for work, labor or material (and no rights are outstanding that under applicable Legal Requirements Applicable Law could give rise to any such liens) affecting the Property which are or may be prior to or equal to the lien of the Security Instrument (other than liens that have either been bonded to the satisfaction of Lender, been fully insured to the satisfaction of Lender by the title company issuing the Title Insurance Policy or have otherwise been addressed in a manner approved by Lender)Instrument. (h) Borrower has paid in full for, and is the owner of, all furnishings, fixtures and equipment (other than Tenants’ property) used in connection with the operation of the Property, free and clear of any and all security interests, liens or encumbrances, except the lien and security interest created by this Agreement, the Note, the Security Instrument and the other Loan Documents. (i) Except as shown in the Environmental ReportsTo Borrower’s knowledge, all liquid and solid waste disposal, septic and sewer systems located on the Property are in a good and safe condition and repair and in compliance with all Legal RequirementsApplicable Law. (j) Except as shown on the Survey, no No portion of the Improvements is located in an area identified by the Federal Emergency Management Agency or any successor thereto as an area having special flood hazards pursuant to the Flood Insurance ActsActs or, if any portion of the Improvements is located within such area, Borrower has obtained and will maintain the insurance prescribed in Section 7.1(a) hereof. Except as shown on the SurveyTo Borrower’s knowledge, no part of the Property consists of or is classified as wetlands, tidelands or swamp and overflow lands. (k) Except as set forth may be shown on any survey delivered to Administrative Agent in connection with the Title Insurance Policy or the SurveyLoan, all the Improvements lie within the boundaries of the Land and any building restriction lines applicable to the Land. (l) To Borrower’s knowledge, there are no pending or proposed special or other assessments for public improvements or otherwise affecting the Property, nor are there any contemplated public improvements to the Property that may result in such special or other assessments. (m) Other than in connection with routine ongoing work and repairs, tenant build-out work required pursuant to the terms and provisions of Leases existing as of the Closing Date and other work and repairs described on Schedule VI hereto, Borrower has not (i) made, ordered or contracted for any construction, repairs, alterations or improvements to be made on or to the Property which have not been completed and paid for in full, (ii) ordered materials for any such construction, repairs, alterations or improvements which have not been paid for in full or (iii) attached any fixtures to the Property which have not been paid for in full. (n) Borrower does not have any direct employees.

Status of Property. (a) Except as otherwise disclosed to Lender, Borrower has obtained all Permits if any are required material certificates, licenses, permits, franchises, consents, and other approvals, governmental and otherwise, necessary for the ownership and operation of Borrower’s businessthe Property and the conduct of its business (collectively, “Licenses”) and all required zoning, building code, land use, environmental and other similar permits or approvals, all of which are in full force and effect as of the date hereof and not subject to revocation, suspension, forfeiture or modification. (b) Except as set forth in the Zoning Report, the The Property and the present and contemplated use and occupancy thereof are in full compliance in all material respects with all applicable zoning ordinances, building codes, land use laws, Environmental Laws and other similar Legal RequirementsApplicable Law. (c) The Property is served by all utilities required necessary for the current or contemplated use thereof. All utility service is provided by public utilities and the Property has accepted or is equipped to accept such utility service. The Property is served by public water and sewer systems. All utilities and public water and sewer systems serving the Property are adequate for the current or contemplated use thereof. (d) All public roads and streets necessary for service of and access to the Property for the current or contemplated use thereof have been completed, are serviceable and all-weather and are physically and legally open for use by the public. The Property has either direct access to such public roads or streets or access to such public roads or streets by virtue of a perpetual easement or similar agreement inuring in favor of Borrower and any subsequent owners of the Property. (e) The Property is served by public water and sewer systems. (f) The Property is free from damage caused by fire or other casualty. Except as may be disclosed in the Physical Condition Reportproperty condition report obtained by Lender in connection with the Loan, the Property, including, without limitation, all buildings, improvements, parking facilities, sidewalks, storm drainage systems, roofs, plumbing systems, HVAC systems, fire protection systems, electrical systems, equipment, elevators, exterior sidings and doors, landscaping, irrigation systems and all structural components, are in good condition, order and repair in all material respects, subject to reasonable respects (ordinary wear and teartear excepted); to Borrower’s knowledge, there exists no structural or other material defects or damages in the Property, whether latent or otherwise, and Borrower has not received notice from any insurance company or bonding company of any defects or inadequacies in the Property, or any part thereof, which would adversely affect the insurability of the same or cause the imposition of extraordinary premiums or charges thereon or of any termination or threatened termination of any policy of insurance or bond. (gf) All costs and expenses of any and all labor, materials, supplies and equipment used in the construction of the Improvements have been paid in full. Except as shown on the Title Insurance Policy, there There are no mechanics’ or similar liens or claims which have been filed for work, labor or material (and no rights are outstanding that under applicable Legal Requirements Applicable Law could give rise to any such liens) affecting the Property which are or may be prior to or equal to the lien of the Security Instrument (other than liens that have either been bonded to the satisfaction of Lender, been fully insured to the satisfaction of Lender by the title company issuing the Title Insurance Policy or have otherwise been addressed in a manner approved by Lender)Instrument. (hg) Borrower has paid in full for, and is the owner of, all furnishings, fixtures and equipment (other than Tenants’ property) used in connection with the operation of the Property, free and clear of any and all security interests, liens or encumbrances, except the lien and security interest created by this Agreement, the Note, the Security Instrument and the other Loan Documents. (ih) Except as shown in the Environmental Reports, all All liquid and solid waste disposal, septic and sewer systems located on the Property are in a good and safe condition and repair and in compliance with all Legal RequirementsApplicable Law. (ji) Except as shown on the Survey, no No portion of the Improvements is located in an area identified by the Federal Emergency Management Agency or any successor thereto as an area having special flood hazards pursuant to the Flood Insurance ActsActs or, if any portion of the Improvements is located within such area, Borrower has obtained and will maintain the insurance prescribed in Section 9.1(a) hereof. Except as shown on the Survey, no No part of the Property consists of or is classified as wetlands, tidelands or swamp and overflow lands. (kj) Except as set forth in for encroachments that are insured against pursuant to the Title Insurance Policy or the Surveyotherwise do not cause a Material Adverse Effect, all the Improvements lie within the boundaries of the Land and any building restriction lines applicable to the LandLand and no improvements on adjoining properties encroach onto the Property. (lk) To Borrower’s knowledge, there are no pending or proposed special or other assessments for public improvements or otherwise affecting the Property, nor are there any presently contemplated improvements to the Property by Borrower that may could reasonably be expected to result in such special or other assessments. (m) Other than in connection with routine ongoing work and repairs, tenant build-out work required pursuant to the terms and provisions of Leases existing as of the Closing Date and other work and repairs described on Schedule VI hereto, Borrower has not (i) made, ordered or contracted for any construction, repairs, alterations or improvements to be made on or to the Property which have not been completed and paid for in full, (ii) ordered materials for any such construction, repairs, alterations or improvements which have not been paid for in full or (iii) attached any fixtures to the Property which have not been paid for in full. (n) Borrower does not have any direct employees.

Status of Property. (a) Except as otherwise disclosed to Lenderspecifically set forth on Schedule 3.12 attached hereto, Borrower has obtained all Permits if any are required necessary certificates, licenses and other approvals, governmental and otherwise, necessary for the operation of Borrower’s businessthe Properties and the conduct of its business and all required zoning, building code, land use, environmental and other similar permits or approvals, all of which are in full force and effect as of the date hereof and not subject to revocation, suspension, forfeiture or modification. (b) Except as specifically set forth in on Schedule 3.12 attached hereto, to the Zoning Reportbest of Borrower’s knowledge, the each Individual Property and the present and contemplated use and occupancy thereof are in full compliance with all applicable zoning ordinances, building codes, land use laws, Environmental Laws and other similar Legal Requirements, except for immaterial violations that do not have a Material Adverse Effect. Without limiting the foregoing, as of the date hereof and for as long as Borrower has owned the Stevensville, MI Individual Property, Borrower has been in compliance with all Environmental Laws relating to such Individual Property, including without limitation any requirements of “due care” under such Environmental Laws or any other Applicable Law. (c) The Each Individual Property is served by all utilities required for the current or contemplated use thereof. All utility service is provided by public utilities and the each Individual Property has accepted or is equipped to accept such utility service. (d) All public roads and streets necessary for service of and access to the each Individual Property for the current or contemplated use thereof have been completed, are serviceable and all-weather and are physically and legally open for use by the public. The Each Individual Property has either direct access to such public roads or streets or access to such public roads or streets by virtue of a perpetual easement or similar agreement inuring in favor of Borrower and any subsequent owners of the such Individual Property. (e) The Each Individual Property is served by public water and sewer systems. (f) The Each Individual Property is free from damage caused by fire or other casualty. Except as disclosed in the Physical Condition Report, the Each Individual Property, including, without limitation, all buildings, improvements, parking facilities, sidewalks, storm drainage systems, roofs, plumbing systems, HVAC systems, fire protection systems, electrical systems, equipment, elevators, exterior sidings and doors, landscaping, irrigation systems and all structural components, are in a reasonably good condition, order and repair in all material respects; to Borrower’s knowledge, subject to reasonable wear and tear; there exists no structural or other material defects or damages in the any Individual Property, whether latent or otherwise, and Borrower has not received notice from any insurance company or bonding company of any defects or inadequacies in the any Individual Property, or any part thereof, which would adversely affect the insurability of the same or cause the imposition of extraordinary premiums or charges thereon or of any termination or threatened termination of any policy of insurance or bond. (g) All costs and expenses of any and all labor, materials, supplies and equipment used in the construction of the Improvements have been paid in full. Except as shown on the Title Insurance Policy, there There are no mechanics’ or similar liens or claims which have been filed for work, labor or material (and no rights are outstanding that under applicable Legal Requirements Applicable Law could give rise to any such liens) affecting the any Individual Property which are or may be prior to or equal to the lien of the applicable Security Instrument (other than liens that have either been bonded to the satisfaction of Lender, been fully insured to the satisfaction of Lender by the title company issuing the Title Insurance Policy or have otherwise been addressed in a manner approved by Lender)Instrument. (h) Borrower has paid in full for, and is the owner of, all furnishings, fixtures and equipment (other than Tenants’ property) used in connection with the operation of the PropertyProperties, free and clear (after payment of any existing lenders and the liens thereof from the proceeds of the Loan) of any and all security interests, liens or encumbrances, except the lien and security interest created by this Agreement, the Note, the Security Instrument Instruments and the other Loan Documents. (i) Except as shown in the Environmental Reports, all All liquid and solid waste disposal, septic and sewer systems located on the Property Properties are in a good and safe condition and repair and in compliance with all Legal Requirements. (j) Except as shown on the Survey, no No portion of the Improvements is located in an area identified by the Federal Emergency Management Agency or any successor thereto as an area having special flood hazards pursuant to the Flood Insurance ActsActs or, if any portion of the Improvements is located within such area, Borrower has obtained and will maintain the insurance prescribed in Section 7.1(a) hereof. Except as shown on the Survey, no No part of the any Individual Property consists of or is classified as wetlands, tidelands or swamp and overflow lands. (k) Except as set forth in the Title Insurance Policy or the Survey, all All the Improvements lie within the boundaries of the Land and any building restriction lines applicable to the Land. (l) To Borrower’s knowledgeknowledge after due inquiry, there are no pending or proposed special or other assessments for public improvements or otherwise affecting the any Individual Property, nor are there any contemplated improvements to the any Individual Property that may result in such special or other assessments. (m) Other than in connection with routine ongoing work and repairs, tenant build-out work required pursuant to the terms and provisions of Leases existing as of the Closing Date and other work and repairs described on Schedule VI hereto, Borrower has not (i) made, ordered or contracted for any construction, repairs, alterations or improvements to be made on or to the Property which have not been completed and paid for in full, (ii) ordered materials for any such construction, repairs, alterations or improvements which have not been paid for in full or (iii) attached any fixtures to the Property which have not been paid for in full. (n) Borrower does not have any direct employees.

Status of Property. (a) Except Borrower or Operating Tenant, as otherwise disclosed to Lenderapplicable, Borrower has obtained all Permits if any are required material certificates, licenses, permits, franchises, consents, and other approvals, governmental and otherwise, necessary for the ownership and operation of the Property and the conduct of its business (collectively, “Licenses”) and to Borrower’s businessbest, actual knowledge, all required zoning, building code, land use, environmental and other similar permits or approvals, all of which are in full force and effect as of the date hereof and not subject to revocation, suspension, forfeiture or modification. (b) Except as set forth in the Zoning Report, the The Property and the present and contemplated use and occupancy thereof are in full material compliance with all applicable zoning ordinances, building codes, land use laws, Environmental Laws and other similar Legal RequirementsApplicable Law. (c) The Property is served by all utilities required necessary for the current or contemplated use thereof. All utility service is provided by public utilities and the Property has accepted or is equipped to accept such utility service. The Property is served by public water and sewer systems. All utilities and public water and sewer systems serving the Property are adequate for the current or contemplated use thereof. (d) All public roads and streets necessary for service of and access to the Property for the current or contemplated use thereof have been completed, are serviceable and all-weather and are physically and legally open for use by the public. The Property has either direct access to such public roads or streets or access to such public roads or streets by virtue of a perpetual easement or similar agreement inuring in favor of Borrower and any subsequent owners of the Property. (e) The Property is served by public water and sewer systems. (f) The Property is free from material damage caused by fire or other casualty. Except as disclosed in the Physical Condition Report, the The Property, including, without limitation, all buildings, improvements, parking facilities, sidewalks, storm drainage systems, roofs, plumbing systems, HVAC systems, fire protection systems, electrical systems, equipment, elevators, exterior sidings and doors, landscaping, irrigation systems and all structural components, are in good condition, order and repair in all material respects, subject to reasonable wear and tear; there exists no structural or other material defects or damages in the Property, whether latent or otherwise, and Borrower has not received notice from any insurance company or bonding company of any defects or inadequacies in the Property, or any part thereof, which would adversely affect the insurability of the same or cause the imposition of extraordinary premiums or charges thereon or of any termination or threatened termination of any policy of insurance or bond. (gf) All costs and expenses of any and all labor, materials, supplies and equipment used in the construction of the Improvements have been paid in full. Except as shown on the Title Insurance Policy, there There are no mechanics’ or similar liens or claims which have been filed for work, labor or material (and no rights are outstanding that under applicable Legal Requirements Applicable Law could give rise to any such liens) affecting the Property which are or may be prior to or equal to the lien of the Security Instrument (other than liens that have either been bonded to the satisfaction of Lender, been fully insured to the satisfaction of Lender by the title company issuing the Title Insurance Policy or have otherwise been addressed in a manner approved by Lender)Instrument. (hg) Borrower has paid in full for, and is the owner of, all furnishings, fixtures and equipment (other than Tenants’ property) used in connection with the operation of the Property, free and clear of any and all security interests, liens or encumbrances, except the lien and security interest created by this Agreement, the Note, the Security Instrument and the other Loan DocumentsPermitted Encumbrances. (ih) Except as shown in the Environmental Reports, all All liquid and solid waste disposal, septic and sewer systems located on the Property are in a good and safe condition and repair and in material compliance with all Legal RequirementsApplicable Law. (ji) Except as shown on the Survey, no No portion of the Improvements is located in an area identified by the Federal Emergency Management Agency or any successor thereto as an area having special flood hazards pursuant to the Flood Insurance ActsActs or, if any portion of the Improvements is located within such area, Borrower has obtained and will maintain the insurance prescribed in Section 7.1(a) hereof. Except as shown on the Survey, no No part of the Property consists of or is classified as wetlands, tidelands or swamp and overflow lands. (kj) Except as set forth in for encroachments that are insured against pursuant to the Title Insurance Policy or the Surveyotherwise do not cause a Material Adverse Effect, all the Improvements lie within the boundaries of the Land and any building restriction lines applicable to the LandLand and no improvements on adjoining properties encroach onto the Property. (lk) To Borrower’s knowledgeknowledge after due inquiry, there are no pending or proposed special or other assessments for public improvements or otherwise affecting the Property, nor are there any contemplated improvements to the Property that may result in such special or other assessments. (m) Other than in connection with routine ongoing work and repairs, tenant build-out work required pursuant to the terms and provisions of Leases existing as of the Closing Date and other work and repairs described on Schedule VI hereto, Borrower has not (i) made, ordered or contracted for any construction, repairs, alterations or improvements to be made on or to the Property which have not been completed and paid for in full, (ii) ordered materials for any such construction, repairs, alterations or improvements which have not been paid for in full or (iii) attached any fixtures to the Property which have not been paid for in full. (n) Borrower does not have any direct employees.

Status of Property. (a) Except No portion of the Improvements is located in an area identified by the Secretary of Housing and Urban Development or any successor thereto as otherwise disclosed an area having special flood hazards pursuant to Lenderthe National Flood Insurance Act of 1968 or the Flood Disaster Protection Act of 1973, as amended, or any successor law, or, if located within any such area, Borrower has obtained and will maintain the insurance prescribed in Section 3.3 hereof, if required under the terms of that section. (b) Borrower has obtained all Permits if any are required necessary certificates, licenses and other approvals, governmental and otherwise, necessary for the operation of Borrower’s businessthe Property and the conduct of its business and all required zoning, building code, land use, environmental and other similar permits or approvals, all of which are in full force and effect as of the date hereof and not subject to revocation, suspension, forfeiture or modification. (bc) Except as set forth in the Zoning Report, the The Property and the present and contemplated use and occupancy thereof are in full compliance in all material respects with all applicable zoning ordinances, building codes, land use laws, Environmental Laws and environmental laws and other similar Legal Requirementslaws. (cd) The Property is served by all utilities required for the current or contemplated use thereof. All utility service is provided by public utilities and the Property has accepted or is equipped to accept such utility service. (de) All public roads and streets necessary for service of and access to the Property for the current or contemplated use thereof have been completed, are serviceable and all-all weather and are physically and legally open for use by the public. The Property has either direct access to such public roads or streets or access to such public roads or streets by virtue of a perpetual easement or similar agreement inuring in favor of Borrower and any subsequent owners of the Property. (ef) The Property is served by public water and sewer systems. (fg) The Property is free from damage caused by fire or other casualty. Except as disclosed in the Physical Condition Report, the Property, including, without limitation, all buildings, improvements, parking facilities, sidewalks, storm drainage systems, roofs, plumbing systems, HVAC systems, fire protection systems, electrical systems, equipment, elevators, exterior sidings and doors, landscaping, irrigation systems and all structural components, are in good condition, order and repair in all material respects, subject to reasonable wear and tear; there exists no structural or other material defects or damages in the Property, whether latent or otherwise, and Borrower has not received notice from any insurance company or bonding company of any defects or inadequacies in the Property, or any part thereof, which would adversely affect the insurability of the same or cause the imposition of extraordinary premiums or charges thereon or of any termination or threatened termination of any policy of insurance or bond. (gh) All costs and expenses of any and all labor, materials, supplies and equipment used in the construction of the Improvements have been paid in full. Except as shown on the Title Insurance Policy, there are no mechanics’ or similar liens or claims which have been filed for work, labor or material (and no rights are outstanding that under applicable Legal Requirements could give rise to any such liens) affecting the Property which are or may be prior to or equal to the lien of the Security Instrument (other than liens that have either been bonded to the satisfaction of Lender, been fully insured to the satisfaction of Lender by the title company issuing the Title Insurance Policy or have otherwise been addressed in a manner approved by Lender). (hi) Borrower has paid in full for, and is the owner of, all furnishings, fixtures and equipment (other than Tenantstenants’ property) used in connection with the operation of the Property, free and clear of any and all security interests, liens or encumbrances, except the lien and security interest created by this Agreement, the Note, the Security Instrument and the other Loan Documentshereby. (ij) Except as shown in the Environmental Reports, all All liquid and solid waste disposal, septic and sewer systems located on the Property are in a good and safe condition and repair and in compliance with all Legal RequirementsApplicable Laws. (j) Except as shown on the Survey, no portion of the Improvements is located in an area identified by the Federal Emergency Management Agency or any successor thereto as an area having special flood hazards pursuant to the Flood Insurance Acts. Except as shown on the Survey, no part of the Property consists of or is classified as wetlands, tidelands or swamp and overflow lands. (k) Except as set forth in the Title Insurance Policy or the Survey, all the Improvements lie within the boundaries of the Land and any building restriction lines applicable to the Land. (l) To Borrower’s knowledge, there are no pending or proposed special or other assessments for public improvements or otherwise affecting the Property, nor are there any contemplated improvements to the Property that may result in such special or other assessments. (m) Other than in connection with routine ongoing work and repairs, tenant build-out work required pursuant to the terms and provisions of Leases existing as of the Closing Date and other work and repairs described on Schedule VI hereto, Borrower has not (i) made, ordered or contracted for any construction, repairs, alterations or improvements to be made on or to the Property which have not been completed and paid for in full, (ii) ordered materials for any such construction, repairs, alterations or improvements which have not been paid for in full or (iii) attached any fixtures to the Property which have not been paid for in full. (n) Borrower does not have any direct employees.

Status of Property. (a) Except as otherwise disclosed to Lender, Borrower has obtained all Permits if any are required material certificates, licenses, permits, franchises, consents and other approvals, governmental and otherwise, necessary for the ownership and operation of Borrower’s businessthe Property and the conduct of its business (collectively, “Licenses”) and all required zoning, building code, land use, environmental and other similar permits or approvals, all of which are in full force and effect as of the date hereof and not subject to revocation, suspension, forfeiture or modification. (b) Except as set forth in the Zoning Report, the The Property and the present and contemplated use and occupancy thereof are in full material compliance with all applicable zoning ordinances, building codes, land use laws, Environmental Laws and other similar Legal RequirementsApplicable Law. (c) The Property is served by all utilities required necessary for the current or contemplated use thereof. All utility service is provided by public utilities and the Property has accepted or is equipped to accept such utility service. The Property is served by public water and sewer systems. All utilities and public water and sewer systems serving the Property are adequate for the current or contemplated use thereof. (d) All public roads and streets necessary for service of and access to the Property for the current or contemplated use thereof have been completed, are serviceable and all-weather and are physically and legally open for use by the public. The Property has either direct access to such public roads or streets or access to such public roads or streets by virtue of a perpetual easement or similar agreement inuring in favor of Borrower and any subsequent owners of the Property. (e) The Property is served by public water and sewer systems. (f) The To Borrower’s knowledge, the Property is free from damage caused by fire or other casualty. Except as disclosed in the Physical Condition ReportTo Borrower’s knowledge, the Property, including, without limitation, all buildings, improvements, parking facilities, sidewalks, storm drainage systems, roofs, plumbing systems, HVAC systems, fire protection systems, electrical systems, equipment, elevators, exterior sidings and doors, landscaping, irrigation systems and all structural components, are in good condition, order and repair in all material respects. To Borrower’s knowledge, subject to reasonable wear and tear; there exists no structural or other material defects or damages in the Property, whether latent or otherwise, and Borrower has not received notice from any insurance company or bonding company of any defects or inadequacies in the Property, or any part thereof, which would adversely affect the insurability of the same or cause the imposition of extraordinary premiums or charges thereon or of any termination or threatened termination of any policy of insurance or bond. (gf) All To Borrower’s knowledge, all costs and expenses of any and all labor, materials, supplies and equipment used in the construction of the Improvements have been paid in full. Except as shown on the Title Insurance PolicyTo Borrower’s knowledge, there are no mechanics’ or similar liens or claims which have been filed for work, labor or material (and no rights are outstanding that under applicable Legal Requirements Applicable Law could give rise to any such liens) affecting the Property which are or may be prior to or equal to the lien of the Security Instrument (other than liens that have either been bonded to the satisfaction of Lender, been fully insured to the satisfaction of Lender by the title company issuing the Title Insurance Policy or have otherwise been addressed in a manner approved by Lender)Instrument. (hg) Borrower has paid in full for, and is the owner of, all furnishings, fixtures and equipment (other than Tenants’ property) used in connection with the operation of the Property, free and clear of any and all security interests, liens or encumbrances, except the lien and security interest created by this Agreement, the Note, the Security Instrument and the other Loan Documents. (ih) Except as shown in the Environmental ReportsTo Borrower’s knowledge, all liquid and solid waste disposal, septic and sewer systems located on the Property are in a good and safe condition and repair and in compliance with all Legal RequirementsApplicable Law. (ji) Except as shown on the Survey, no No portion of the Improvements is located in an area identified by the Federal Emergency Management Agency or any successor thereto as an area having special flood hazards pursuant to the Flood Insurance ActsActs or, if any portion of the Improvements is located within such area, Borrower has obtained and will maintain the insurance prescribed in Section 7.1(a) hereof. Except as shown on the Survey, no No part of the Property consists of or is classified as wetlands, tidelands or swamp and overflow lands. (kj) Except as set forth in for encroachments that are insured against pursuant to the Title Insurance Policy or the Surveyotherwise do not cause a Material Adverse Effect, all the Improvements lie within the boundaries of the Land and any building restriction lines applicable to the LandLand and no improvements on adjoining properties encroach onto the Property. (lk) To Borrower’s knowledgeknowledge after due inquiry, there are no pending or proposed special or other assessments for public improvements or otherwise affecting the Property, nor are there any contemplated improvements to the Property that may result in such special or other assessments. (m) Other than in connection with routine ongoing work and repairs, tenant build-out work required pursuant to the terms and provisions of Leases existing as of the Closing Date and other work and repairs described on Schedule VI hereto, Borrower has not (i) made, ordered or contracted for any construction, repairs, alterations or improvements to be made on or to the Property which have not been completed and paid for in full, (ii) ordered materials for any such construction, repairs, alterations or improvements which have not been paid for in full or (iii) attached any fixtures to the Property which have not been paid for in full. (n) Borrower does not have any direct employees.

Status of Property. (a) Except as otherwise disclosed to Lender, Borrower has obtained all Permits if any are required material certificates, licenses, permits, franchises, consents and other approvals, governmental and otherwise, necessary for the ownership and operation of Borrower’s businesseach Individual Property and the conduct of its business (collectively, “Licenses”) and all required zoning, building code, land use, environmental and other similar permits or approvals, all of which are in full force and effect as of the date hereof and not subject to revocation, suspension, forfeiture or modification. (b) Except as set forth in the Zoning ReportTo Borrower’s knowledge, the each Individual Property and the present and contemplated use and occupancy thereof are in full material compliance with all applicable zoning ordinances, building codes, land use laws, Environmental Laws and other similar Legal RequirementsApplicable Law. (c) The Each Individual Property is served by all utilities required and public water and sewer systems necessary for the current or contemplated use thereof. All utility service is provided by public utilities and the each Individual Property has accepted or is equipped to accept such utility service. Each Individual Property is served by public water and sewer systems. (d) All public roads and streets necessary for service of and access to the each Individual Property for the current or contemplated use thereof have been completed, are serviceable and all-weather and are physically and legally open for use by the public. The Each Individual Property has either direct access to such public roads or streets or access to such public roads or streets by virtue of a perpetual easement or similar agreement inuring in favor of Borrower and any subsequent owners of the applicable Individual Property. (e) The Property is served by public water and sewer systems. (f) The Each Individual Property is free from material damage caused by fire or other casualty. Except as disclosed in the Physical Condition Report, the Each Individual Property, including, without limitation, all buildings, improvements, parking facilities, sidewalks, storm drainage systems, roofs, plumbing systems, HVAC systems, fire protection systems, electrical systems, equipment, elevators, exterior sidings and doors, landscaping, irrigation systems and all structural components, are in good condition, order and repair in all material respects, subject to reasonable ordinary wear and teartear excepted; there exists no structural or other material defects or damages in the each Individual Property, whether latent or otherwise, and Borrower has not received notice from any insurance company or bonding company of any defects or inadequacies in the Property, or any part thereof, which would adversely affect the insurability of the same or cause the imposition of extraordinary premiums or charges thereon or of any termination or threatened termination of any policy of insurance or bond. (gf) All costs and expenses of any and all labor, materials, supplies and equipment used in the construction of the Improvements which are due and payable have been paid in full. Except as shown on the Title Insurance Policy, there There are no mechanics’ or similar liens or claims which have been filed for work, labor or material (and no rights are outstanding that under applicable Legal Requirements Applicable Law could give rise to any such liens) affecting the Property which are or may be prior to or equal to the lien of the Security Instrument (other than liens that have either been bonded to the satisfaction of Lender, been fully insured to the satisfaction of Lender by the title company issuing the Title Insurance Policy or have otherwise been addressed in a manner approved by Lender)Instrument. (hg) Borrower has Borr▇▇▇▇ ▇▇▇ paid in full for, and is the owner of, all furnishings, fixtures and equipment (other than Tenants’ property) used in connection with the operation of the Property, free and clear of any and all security interests, liens or encumbrances, except the lien and security interest created by this Agreement, the Note, the Security Instrument and the other Loan Documents. (ih) Except as shown in the Environmental Reports, all All liquid and solid waste disposal, septic and sewer systems located on the each Individual Property are in a good and safe condition and repair and in compliance with all Legal RequirementsApplicable Law in all material respects. (ji) Except as shown on the Survey, no No portion of the Improvements is located in an area identified by the Federal Emergency Management Agency or any successor thereto as an area having special flood hazards pursuant to the Flood Insurance ActsActs or, if any portion of the Improvements is located within such area, Borrower has obtained and will maintain the insurance prescribed in Section 7.1(a) hereof. Except as shown on the Survey, no No part of the any Individual Property consists of or is classified as wetlands, tidelands or swamp and overflow lands. (kj) Except as set forth in for encroachments that are insured against pursuant to the Title Insurance Policy or the Surveyotherwise do not cause a Material Adverse Effect, all the Improvements lie within the boundaries of the Land and any building restriction lines applicable to the LandLand and, to Borrower’s knowledge, no improvements on adjoining properties encroach onto any Individual Property. (lk) To Borrower’s knowledgeknowledge after due inquiry, there are no pending or proposed special or other assessments for public improvements or otherwise affecting the any Individual Property, nor are there any contemplated improvements to the any Individual Property that may result in such special or other assessments. (m) Other than in connection with routine ongoing work and repairs, tenant build-out work required pursuant to the terms and provisions of Leases existing as of the Closing Date and other work and repairs described on Schedule VI hereto, Borrower has not (i) made, ordered or contracted for any construction, repairs, alterations or improvements to be made on or to the Property which have not been completed and paid for in full, (ii) ordered materials for any such construction, repairs, alterations or improvements which have not been paid for in full or (iii) attached any fixtures to the Property which have not been paid for in full. (n) Borrower does not have any direct employees.

Status of Property. With respect to each Real ------------------ Property Asset, except as set forth on Schedule 12: (a) Except No portion of any improvement on the Real Property Asset is located in an area identified by the Secretary of Housing and Urban Development or any successor thereto as otherwise disclosed an area having special flood hazards pursuant to Lenderthe National Flood Insurance Act of 1968 or the Flood Disaster Protection Act of 1973, as amended, or any successor law, or, if located within any such area, Borrower or the respective Loan Party has obtained and will maintain the insurance prescribed in Section 5.03 hereof. (b) Borrower or the respective Loan Party has obtained all Permits if any are required necessary certificates, licenses and other approvals, governmental and otherwise, necessary for the operation of Borrower’s businessthe Real Property Asset and the conduct of its business and all required zoning, building code, land use, environmental and other similar permits or approvals, all of which are in full force and effect as of the date hereof and not subject to revocation, suspension, forfeiture or modificationhereof. (bc) Except as set forth in To the Zoning Reportbest knowledge of Borrower or the REIT, the Real Property Asset and the present and contemplated use and occupancy thereof are in full compliance with all applicable zoning ordinancesordinances (without reliance upon grandfather provisions or adjoining or other properties), building codes, land use and environmental laws, Environmental Laws laws relating to the disabled (including, but not limited to, the ADA) and other similar Legal Requirementslaws. (cd) The Real Property Asset is served by all utilities required for the current or contemplated use thereof. All utility service is provided by public utilities and the Real Property Asset has accepted or is equipped to accept such utility service. (de) All public roads and streets necessary for service of and access to the Real Property Asset for the current or contemplated use thereof have been completed, are serviceable and all-weather and are physically and legally open for use by the public. The Property has either direct access to such public roads or streets or access to such public roads or streets by virtue of a perpetual easement or similar agreement inuring in favor of Borrower and any subsequent owners of the Property. (ef) The Real Property Asset is served by public water and sewer systemssystems or, if the Real Property Asset is not serviced by a public water and sewer system, such alternate systems are adequate and meet, in all material respects, all requirements and regulations of, and otherwise complies in all material respects with, all Applicable Laws. (fg) Neither Borrower nor the respective Loan Party is aware of any latent or patent structural or other significant deficiency of the Real Property Asset. The Real Property Asset is free of damage and waste that would materially and adversely affect the value of the Real Property Asset, is in good repair and there is no deferred maintenance other than ordinary wear and tear. The Real Property Asset is free from damage caused by fire or other casualty. Except as disclosed in There is no pending or, to the Physical Condition Reportactual knowledge of Borrower or the REIT, threatened condemnation proceedings affecting the Property, including, without limitation, all buildings, improvements, parking facilities, sidewalks, storm drainage systems, roofs, plumbing systems, HVAC systems, fire protection systems, electrical systems, equipment, elevators, exterior sidings and doors, landscaping, irrigation systems and all structural components, are in good condition, order and repair in all material respects, subject to reasonable wear and tear; there exists no structural or other material defects or damages in the Property, whether latent or otherwise, and Borrower has not received notice from any insurance company or bonding company of any defects or inadequacies in the PropertyReal Property Asset, or any part thereof, which would adversely affect the insurability of the same or cause the imposition of extraordinary premiums or charges thereon or of any termination or threatened termination of any policy of insurance or bond. (gh) All To the best knowledge of Borrower or the REIT, all costs and expenses of any and all labor, materials, supplies and equipment used in the construction of the Improvements improvements on the Real Property Asset have either (i) been paid in full, (ii) are not yet due and payable or (iii) are being contested in good faith by Borrower or the applicable Loan Party. Except Subject to Borrower's or the respective Loan Party's right to contest as shown on the Title Insurance Policyset forth in any Permitted Mortgage Debt related to such Real Property Asset, there are no mechanics’ ' or similar liens or claims which that have been filed and recorded for work, labor or material (materials that affects the Real Property Asset and no rights are outstanding that under applicable Legal Requirements could give rise to any such liens) affecting the Property which are or may be liens prior to to, or equal to coordinate with, the lien of the this Security Instrument (other than liens that have either been bonded to the satisfaction of Lender, been fully insured to the satisfaction of Lender by the title company issuing the Title Insurance Policy or have otherwise been addressed in a manner approved by Lender)Instrument. (hi) Borrower or the respective Loan Party has paid in full for, and is the owner of, all furnishings, fixtures and equipment (other than Tenants’ tenants' property) used in connection with the operation of the PropertyReal Property Asset, free and clear of any and all security interests, liens or encumbrances, except for Permitted Liens and purchase money financing which is not a Lien on the lien fee title of such Real Property Asset and security interest created by this Agreement, is incurred in the Note, the Security Instrument and the other Loan Documentsordinary course of business. (ij) Except as shown in the Environmental Reports, all All liquid and solid waste disposal, septic and sewer systems located on the Real Property Asset are in a good and safe condition and repair and in compliance with all Legal Requirements. (j) Except as shown on the Survey, no portion of the Improvements is located in an area identified by the Federal Emergency Management Agency or any successor thereto as an area having special flood hazards pursuant to the Flood Insurance Acts. Except as shown on the Survey, no part of the Property consists of or is classified as wetlands, tidelands or swamp and overflow landsApplicable Laws. (k) Except as set forth in All amenities, access routes or other items that materially benefit the Title Insurance Policy Real Property Asset are under direct control of Borrower or the Surveyrespective Loan Party, constitute permanent easements that benefit all the Improvements lie within the boundaries or part of the Land Real Property Asset or are public property, and any building restriction lines applicable the Real Property Asset, by virtue of such easements or otherwise, is contiguous to a physically open, dedicated all weather public street, and has the Landnecessary permits for ingress and egress. (l) To Borrower’s knowledge, there There are no pending or proposed special delinquent taxes, ground rents, water charges, sewer rents, assessments (including assessments payable in future installments), insurance premiums, leasehold payments, or other assessments for public improvements or otherwise outstanding charges affecting the Property, nor are there any contemplated improvements to the Real Property that may result in such special or other assessmentsAsset. (m) Other than in connection with routine ongoing work and repairsThe Real Property Asset is assessed for real estate tax purposes as one or more wholly independent tax lot or lots, tenant build-out work required pursuant to the terms and provisions of Leases existing as of the Closing Date and other work and repairs described on Schedule VI hereto, Borrower has not (i) made, ordered or contracted for separate from any construction, repairs, alterations adjoining land or improvements to be made on not constituting a part of such lot or to the Property which have not been completed lots, and paid for in full, (ii) ordered materials for any such construction, repairs, alterations no other land or improvements which have not been paid for in full is assessed and taxed together with the Real Property Asset or (iii) attached any fixtures to the Property which have not been paid for in fullportion thereof. (n) Subject to the provisions of the Security Instrument which shall govern with respect to Mortgaged Assets, with respect to Leases which relate to Real Property Assets owned by Borrower does or the respective Loan Party, (i) Borrower or the respective Loan Party is the sole owner of the entire lessor's interest in the Leases; (ii) to the best knowledge of Borrower or the REIT, the Leases are valid and enforceable; (iii) the terms of all alterations, modifications and amendments to the Leases are reflected in the certified occupancy statement delivered to and approved by Agent; (iv) with respect to the Mortgaged Assets none of the rents reserved in the Ledvance; (vi) the premises demised under the Leases have been completed and the tenants under the Leases have accepted the same and have taken possession of the same on a rent-paying basis; (vii) to the best knowledge of Borrower or the REIT, there exist no offsets or defenses to the payment of any portion of the rents; (viii) with respect to Mortgaged Assets no Lease contains an option to purchase, right of first refusal to purchase, or any other similar provision; (ix) no person or entity has any possessory interest in, or right to occupy, the Real Property Asset except under and pursuant to a Lease; (x) with respect to Mortgaged Assets, there are no prior assignments, pledges, hypothecations or other encumbrances of any Leases or any portion of rents due and payable or to become due and payable thereunder which are presently outstanding; and (xi) the Real Property Asset is not have subject to any direct employeesLease other than the Leases described in the rent rolls delivered pursuant to Section 5.01(a). (o) No portion of the Real Property Asset has been or will be purchased with proceeds of any illegal activity. (p) All contracts, agreements, consents, waivers, documents and writings of every kind or character at any time to which the Borrower or any Loan Party is a party to be delivered to Agent pursuant to any of the provisions hereof are valid and enforceable against the Borrower and such Loan Party and, to the best knowledge of Borrower, are enforceable against all other parties thereto, and in all respects are what they purport to be and, to the best knowledge of Borrower, to the extent that any such writing shall impose any obligation or duty on the party thereto or constitute a waiver of any rights which any such party might otherwise have, said writing shall be valid and enforceable against said party in accordance with the terms, except as such enforcement may be limited by applicable bankruptcy, insolvency, reorganization or similar laws affecting the rights of creditors generally.