Borrower’s Certificate. A certificate signed by Borrower to the effect that the Repairs have been fully paid for and no claim exists against Borrower or against the Mortgaged Property out of which a lien based on furnishing labor or material exists or might ripen. Borrower may except from the certificate described in the preceding sentence any claim(s) that Borrower intends to contest, provided that any such claim is described in Borrower’s certificate. If required by Lender, Borrower also must certify to Lender that the Repairs are in compliance with all applicable building codes and zoning ordinances.
Appears in 27 contracts
Samples: Multifamily Loan and Security Agreement (Steadfast Apartment REIT, Inc.), Multifamily Loan and Security Agreement (Steadfast Apartment REIT, Inc.), Multifamily Loan and Security Agreement (Steadfast Income REIT, Inc.)
Borrower’s Certificate. A certificate signed by Borrower to the effect that the Repairs have been fully paid for and no claim exists against Borrower or against the Mortgaged Property out of which a lien based on furnishing labor or material exists or might ripen. Borrower may except from the certificate described in the preceding sentence any claim(s) that Borrower intends to contest, provided that any such claim is described in Borrower’s certificate. If required by Lender, Borrower also must certify to Lender that such portion of the Repairs are is in compliance with all applicable building codes and zoning ordinances.
Appears in 4 contracts
Samples: Multifamily Loan and Security Agreement (Preferred Apartment Communities Inc), Multifamily Loan and Security Agreement (Preferred Apartment Communities Inc), Multifamily Loan and Security Agreement (Bluerock Enhanced Multifamily Trust, Inc.)
Borrower’s Certificate. A certificate signed by Borrower to the effect that the Repairs have been fully paid for and no claim exists against Borrower or against the Mortgaged Property out of which a lien based on furnishing labor or material exists or might ripen. Borrower may except from the certificate described in the preceding sentence any claim(s) that Borrower intends to contest, provided that any such claim is described in Borrower’s certificate. If required by Funding Lender, Borrower also must certify to Funding Lender that the Repairs are in compliance with all applicable building codes and zoning ordinances.
Appears in 1 contract
Samples: Continuing Covenant Agreement
Borrower’s Certificate. A certificate signed by Borrower Xxxxxxxx to the effect that the Repairs have been fully paid for and no claim exists against Borrower or against the Mortgaged Property out of which a lien based on furnishing labor or material exists or might ripen. Borrower may except from the certificate described in the preceding sentence any claim(s) that Borrower intends to contest, provided that any such claim is described in BorrowerXxxxxxxx’s certificate. If required by Lender, Borrower also must certify to Lender that the Repairs are in compliance with all applicable building codes and zoning ordinances.
Appears in 1 contract
Samples: Multifamily Loan and Security Agreement (Steadfast Apartment REIT, Inc.)
