Common use of Status of the Property Clause in Contracts

Status of the Property. (a) Borrower has obtained and will maintain in full force and effect all certificates, licenses, permits and approvals that are required by Law or by any entity having jurisdiction over the Property or over Borrower or that are necessary for the Permitted Use, for occupancy and operation of the Property, for the granting of the Security Instrument or for the conduct of Borrower’s business on the Property in accordance with the Permitted Use, except, in each case, to the extent that failure to do so would not reasonably be expected to have a Material Adverse Effect. (b) The Property is and will continue to be serviced by all public utilities required for the Permitted Use of the Property. (c) All roads and streets necessary for service of and access to the Property for the current or contemplated use of the Property have been completed and are and will continue to be serviceable, physically open and dedicated to and accepted by the Government for use by the public. (d) As of the date hereof, the Property is free from damage caused by a Casualty. (e) As of the date hereof, all costs and expenses of labor, materials, supplies and equipment used in the construction of the Improvements have been paid in full.

Status of the Property. (a) Borrower has obtained and will maintain in full force and effect all certificates, licenses, permits and approvals that are issued or required by Law or by any entity having jurisdiction over the Property or over Borrower or that are necessary for the Permitted Use, for occupancy and operation of the Property, for the granting of the Security Instrument this Mortgage or for the conduct of Borrower’s business on the Property in accordance with the Permitted Use. Without limiting any of the foregoing, except, Borrower is in each case, to compliance with the extent that failure to do so would not reasonably be expected to have a Material Adverse EffectComprehensive Permit and the Regulatory Agreement. (b) The Property is and will continue to be serviced by all public utilities required for the Permitted Use of the Property. (c) All roads and streets necessary for service of and access to the Property for the current or contemplated use of the Property have been completed and are and will continue to be serviceable, physically open and dedicated to and accepted by the Government for use by the public. (d) As of the date hereof, the The Property is free from damage caused by a Casualty. (e) As of the date hereof, all All costs and expenses of labor, materials, supplies and equipment used in the construction of the Improvements have been paid in full.