Access, Etc. The Collateral Property has direct access by trucks and other motor vehicles and by foot to dedicated and accepted public roads or through perpetual private easements approved by Lender. All private ways providing access to the Collateral Property are zoned in a manner which will permit access to the Project over such ways by trucks and other commercial and industrial vehicles. The Collateral Property constitutes a separate parcel which has been properly subdivided in accordance with all applicable state and local laws, regulations and ordinances to the extent required thereby, and neither the execution and delivery of the Security Documents nor the exercise of any remedies thereunder by Lender shall violate any such law or regulation relating to the subdivision of real property.
Appears in 5 contracts
Samples: Mezzanine Loan Agreement (Preferred Apartment Communities Inc), Mezzanine Loan Agreement (Preferred Apartment Communities Inc), Mezzanine Loan Agreement (Preferred Apartment Communities Inc)
