Access; Utilities; Tax Parcels Clause Samples

Access; Utilities; Tax Parcels. The Except as otherwise disclosed in the title policy issued to and accepted by Lender on the Closing Date, the Mortgaged Property: (a) has ingress and egress via a publicly dedicated right of way or via an irrevocable easement permitting ingress and egress, (b) is served by public utilities and services generally available in the surrounding community or otherwise appropriate for the use in which the Mortgaged Property is currently being utilized, and (c) constitutes one or more separate tax parcels.

Access; Utilities; Tax Parcels. The Mortgaged Property: (a) Has ingress and egress via a publicly dedicated right of way or via an irrevocable easement permitting ingress and egress. (b) Constitutes one or more separate tax parcels. (c) Is served by public utilities and services that are generally available in the surrounding community or otherwise appropriate for the Mortgaged Property’s current use, except that the Mortgaged Property is served by the Private Facility that: (i) Has sufficient capacity to adequately serve the MH Community, including any guests, visitors and invitees of the MH Community. (ii) Complies with all applicable local, state and federal requirements, laws, codes, statutes, rules and/or regulations and has no record of violations. (iii) Is managed or operated by a licensed and qualified operator or engineer that complies with all applicable local, state and federal requirements, laws, codes, statutes, rules and/or regulations. (iv) Has passed the most recent and all prior inspections, which inspections were performed by a qualified engineer or other licensed professional, all as required by law, code, statute, rule and/or regulation of the applicable Governmental Authority having jurisdiction over the Private Facility and the Mortgaged Property. (v) Has all required licenses, certificates and/or permits necessary for the Borrower (and operator, as applicable), to own, operate and maintain the Private Facility (which licenses, certificates and/or permits are not conditioned upon providing service to any other property). (vi) Is located on, and utilized exclusively by, the Mortgaged Property and not by any other third party (i.e., no other third party is permitted to “tie-in” to the Private Waste Treatment System or Private Well, as applicable). Borrower has no obligation to provide any third party with access to or permit any third party (other than tenants of the Mortgaged Property) to use its Private Facility (or any other private or public water or sewer systems) in connection with the licensing or operation of the Mortgaged Property or otherwise. In addition to the foregoing, based upon the property condition report and/or the environmental site assessment delivered in connection with the origination of the Loan and to Borrower’s knowledge, no material systems or key components of the Private Facility are expected to require replacement during the term of the Loan. E. Section 6.46 is deleted and replaced with the following:

Access; Utilities; Tax Parcels. The Mortgaged Property: (a) has ingress and egress via a publicly dedicated right of way or via an irrevocable easement permitting ingress and egress, (b) is served by public utilities and services generally available in the surrounding community or otherwise appropriate for the use in which the Mortgaged Property is currently being utilized, and (c) constitutes one or more separate tax parcels, except with respect to Parcel No. ▇▇▇-▇▇▇-▇▇▇-▇▇▇▇ (the “Disputed Tax Parcel”), a portion of which is owned by the ▇▇▇▇▇▇ Commons Property Owners Association, Inc. (the “▇▇▇▇▇▇ Owners Association”), and subject to an access easement in favor of Borrower, but is erroneously reflected on the ▇▇▇▇▇▇ County tax map as being owned in fee simple by Borrower. Prior to the Closing Date, Borrower filed an application with the ▇▇▇▇▇▇ County, Texas Appraisal District to have the tax map redrawn so that the Disputed Tax Parcel will include only the real property owned by Borrower. Borrower will immediately notify Lender in writing when the ▇▇▇▇▇▇ County tax map is updated and provide Lender with a copy of such updated tax map. Notwithstanding the foregoing, during the term of the Loan, the Impositions and Imposition Reserve Deposits for Taxes will be calculated based on the full assessment amount for the Mortgaged Property, including the portion of the Disputed Tax Parcel that is owned by the ▇▇▇▇▇▇ Owners Association. 2. Section 6.16 is deleted in its entirety and replaced with the following:

Access; Utilities; Tax Parcels. The Mortgaged Property (a) has ingress and egress via a publicly dedicated right of way or via an irrevocable easement permitting ingress and egress, (b) is served by public utilities and services generally available in the surrounding community or otherwise appropriate for the use in which the Mortgaged Property is currently being utilized, and (c) constitutes one or more separate tax parcels. Borrower and Lender acknowledge that one of the tax parcels assigned to the Mortgaged Property includes a portion of land which was previously conveyed by Borrower to an adjacent property owner and that Borrower will use best efforts to have that portion of land which was previously conveyed separately taxed. Borrower and Lender also acknowledge that the Mortgaged Property includes a portion of Woodlark Drive and that Borrower is working with and expects to convey that portion of the Mortgaged Property within Woodlark Drive to the Town of Cumberland, Indiana. 2. The introductory sentence of Section 6.07(b)(ii) shall be deleted in its entirety and shall be replaced with the following: