Additional Collateral Documents; Audit Sample Clauses

Additional Collateral Documents; Audit. (a) Within sixty (60) days after (a) the acquisition by a Borrower or any Guarantor of any real property or (b) the lease to or by a Borrower or any Guarantor of any real property described in clause (xi), the Borrowers shall deliver, or shall cause the appropriate Guarantor to deliver, to the Agent the items listed in clauses (i) through (ix), as applicable, with respect to such real property or lease, to the satisfaction of the Agent (but only clauses (viii) and (ix) shall apply in the case of leased real property unless such property is subject to a Lien in favor of the Senior Collateral Agent): (i) Mortgages, Deeds of Trust or other similar documentation necessary to grant to the Agent for the benefit of the Agent and the Lenders a lien on the real property owned by each Borrower and each Guarantor (collectively, the "Mortgages") (subject only to Permitted Liens); (ii) Mortgagee title insurance policies from a title insurance company satisfactory to the Agent covering the Mortgages, in each case indicating the liens of the Mortgages are a second lien priority behind only the Senior Collateral Agent (for the benefit of itself and the Senior Lenders) (subject only to Permitted Liens), containing no exceptions to coverage not acceptable to the Agent and providing a revolving credit endorsement and other endorsements required by Agent for such policy; (iii) Surveys for each of the properties covered by the Mortgages; (iv) Certification as to whether the location of each property is within any "special flood hazard" area within the meaning of the Federal Flood Disaster Protection Act of 1973; (v) Appraisals from a certified Appraiser selected by the Borrowers and acceptable to the Agent for each of the properties covered by the Mortgages; (vi) Environmental Reports on all real property covered by a Mortgage from an environmental firm satisfactory to Agent showing no environmental hazards with respect to such real property; (vii) Legal opinions from local counsel for the Borrowers with respect to the documents executed and delivered under this Section 7.22 and the perfection of the liens created thereby in form and substance satisfactory to the Agent; (viii) Insurance policies or Certificates of Insurance, as the Agent may require, evidencing compliance by the Borrowers with the insurance requirements of this Agreement and the Security Instruments with respect to the properties covered by the Mortgages; (ix) If any improvements (existing or proposed) on the ...