Common use of Compliance with Laws; Matters of Record Clause in Contracts

Compliance with Laws; Matters of Record. Subject to the other provisions of this Property Management Agreement, the Property Manager will take such action as may be necessary to comply with any and all laws applicable to any Property and the Property Manager’s employees and all known ordinances, regulations and orders relative to the use, operation, repair and maintenance of the Properties and with the rules, regulations or orders of the local Board of Fire Underwriters or other similar body. Expenses incurred in so complying and in correcting any such violation shall be included in the Budget or otherwise approved in advance by the Company. The Property Manager agrees to perform all obligations of each Owner Subsidiary and pay all costs, expenses and other amounts (including, without limitation, any liquidated damages) which each Owner Subsidiary or the Property Manager may be required to pay in accordance with, and to comply and cause a Property to comply in all respects with all of the terms and conditions of, any reciprocal easement agreement, any ground lease, mortgage, deed of trust or other security instruments affecting such Property of which the Property Manager has actual knowledge, or any other agreement or document of record now affecting such Property or hereafter executed or filed with the Company’s written consent (each, herein referred to as a “Matter of Record,” and collectively as the “Matters of Record”) during the term of this Property Management Agreement. Further, the Property Manager shall not cause, or fail to take commercially reasonable actions to prevent, a divestiture of title from any of the Owner Subsidiaries under any encumbrance or any other Matter of Record. Each Owner Subsidiary shall be responsible for any expenses, costs or other amounts paid by the Property Manager in respect of compliance with this Section 3.2(G) which are not otherwise included in the applicable Budget.

Compliance with Laws; Matters of Record. Subject to the other provisions of this Property Management Agreement, the Property Manager will take such action as may be necessary to comply with any and all laws applicable to any Property and the Property Manager’s employees and all known ordinances, regulations and orders relative to the use, operation, repair and maintenance of the Properties and with the rules, regulations or orders of the local Board of Fire Underwriters or other similar body. Expenses incurred in so complying and in correcting any such violation shall be included in the Budget or otherwise approved in advance by the Company. The Property Manager agrees to perform all obligations of each Owner Subsidiary and pay all costs, expenses and other amounts (including, without limitation, any liquidated damages) which each Owner Subsidiary or the Property Manager may be required to pay in accordance with, and to comply and cause a Property to comply in all respects with all of the terms and conditions of, any reciprocal easement agreement, any ground lease, mortgage, deed of trust or other security instruments affecting such Property of which the Property Manager has actual knowledge, or any other agreement or document of record now affecting such Property or hereafter executed or filed with the Company’s written consent (each, herein referred to as a “Matter of Record,” and collectively as the “Matters of Record”Record “) during the term of this Property Management Agreement. Further, the Property Manager shall not cause, or fail to take commercially reasonable actions to prevent, a divestiture of title from any of the Owner Subsidiaries under any encumbrance or any other Matter of Record. Each Owner Subsidiary shall be responsible for any expenses, costs or other amounts paid by the Property Manager in respect of compliance with this Section 3.2(G) which are not otherwise included in the applicable Budget.

Compliance with Laws; Matters of Record. Subject to the other provisions of this Property Management Agreement, the Property Manager will take such action as may be necessary to comply with any and all laws applicable to any Property and the Property Manager’s employees and all known ordinances, regulations and orders relative to the use, operation, repair and maintenance of the Properties Property and with the rules, regulations or orders of the local Board of Fire Underwriters or other similar body. Expenses incurred in so complying and in correcting any such violation shall be included in the Budget or otherwise approved in advance by the Company. The Property Manager agrees to perform all obligations of each Owner Subsidiary the Company and pay all costs, expenses and other amounts (including, without limitation, any liquidated damages) which each Owner Subsidiary the Company or the Property Manager may be required to pay in accordance with, and to comply and cause a the Property to comply in all respects with all of the terms and conditions of, any reciprocal easement agreement, any ground lease, mortgage, deed of trust or other security instruments affecting such the Property of which the Property Manager has actual knowledge, or any other agreement or document of record now affecting such the Property or hereafter executed or filed with the Company’s written consent (each, herein referred to as a “Matter of Record,” and collectively as the “Matters of Record”) during the term of this Property Management Agreement. Further, the Property Manager shall not cause, or fail to take commercially reasonable actions to prevent, a divestiture of title from any of the Owner Subsidiaries Company under any encumbrance or any other Matter of Record. Each Owner Subsidiary The Company shall be responsible for any expenses, costs or other amounts paid by the Property Manager in respect of compliance with this Section 3.2(G) which are not otherwise included in the applicable Budget.

Compliance with Laws; Matters of Record. Subject to the other provisions of this Property Management Agreement, the Property Manager will take such action as may be necessary to comply with any and all laws applicable to any Property and the Property Manager’s employees and all known ordinances, regulations and orders relative to the use, operation, repair and maintenance of the Properties and with the rules, regulations or orders of the local Board of Fire Underwriters or other similar body. Expenses incurred in so complying and in correcting any such violation shall be included in the Budget or otherwise approved in advance by the Company. The Property Manager agrees to perform all obligations of each Owner Subsidiary and pay all costs, expenses and other amounts (including, without limitation, any liquidated damages) which each Owner Subsidiary or the Property Manager may be required to pay in accordance with, and to comply and cause a Property to comply in all respects with all of the terms and conditions of, any reciprocal easement agreement, any ground lease, mortgage, deed of trust or other security instruments affecting such Property of which the Property Manager has actual knowledge, or any other agreement or document of record now affecting such Property or hereafter executed or filed with the Company’s written consent (each, herein referred to as a “Matter of Record,” and collectively as the “Matters of RecordRecord ”) during the term of this Property Management Agreement. Further, the Property Manager shall not cause, or fail to take commercially reasonable actions to prevent, a divestiture of title from any of the Owner Subsidiaries under any encumbrance or any other Matter of Record. Each Owner Subsidiary shall be responsible for any expenses, costs or other amounts paid by the Property Manager in respect of compliance with this Section 3.2(G) which are not otherwise included in the applicable Budget.