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 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 conveyance described in this Deed of Trust and for the conduct of Borrower’s business on the Property in accordance with the Permitted Use. (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 to the best of Borrower’s knowledge will continue to be, serviceable, physically open and dedicated to and accepted by the Government for use by the public. (d) The Property is free from damage caused by a Casualty. (e) All costs and expenses of labor, materials, supplies and equipment used in the construction of the Improvements and due and owing as of the date hereof 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 conveyance described in this Deed of Trust and for the conduct of Borrower’s 's business on the Property in accordance with the Permitted Use. (b) The Property is and will continue to be serviced by all public utilities util- ities required for the Permitted Use of the Property. (c) All roads and streets necessary for service of and access to the Property Prop- erty for the current or contemplated use of the Property have been completed and are, and to the best of Borrower’s 's knowledge will continue to be, serviceable, physically open and dedicated to and accepted by the Government for use by the public. (d) The Property is free from damage caused by a Casualty. (e) All costs and expenses of labor, materials, supplies and equipment used in the construction of the Improvements and due and owing as of the date hereof have been paid in full.