Common use of Compliance with Laws; Use Clause in Contracts

Compliance with Laws; Use. Borrower has, and at all times shall have obtained, all permits, licenses, exemptions, and approvals necessary to occupy, operate and market the Property, and shall maintain compliance with all governmental requirements applicable to the Property and all other applicable statutes, laws, regulations and ordinances necessary for the transaction of its business. The Property is a separate legal parcel lawfully created in full compliance with all subdivision laws and ordinances and is properly zoned for the stated use of the Property as disclosed to Lender at the time of execution hereof. Borrower shall not initiate or acquiesce to a zoning change of the Property without prior notice to, and prior written consent from, Lender. Furthermore, Borrower shall not allow changes in the stated overall use of the Property as a retail center without prior notice to, and prior written consent from, Lender (provided that Lender’s consent shall not be required for particular tenant uses under Approved Leases).

Compliance with Laws; Use. Borrower has, or prior to the commencement of construction of the Improvements will have, and once obtained, will at all times shall have obtainedmaintain, all permits, licenses, exemptions, and approvals necessary to construct, occupy, operate and market the PropertyProperty and Improvements, and shall maintain compliance with all governmental requirements applicable to the Property and Improvements and all other applicable statutes, laws, regulations and ordinances necessary for the transaction of its business, and shall require its lessees or licensees to do the same. The Property is a separate legal parcel lawfully created in full compliance with all subdivision laws and ordinances ordinances, and is properly zoned for the stated use of the Property as disclosed to Lender at the time of execution hereof. Borrower shall not initiate or acquiesce to a zoning change of the Property without prior notice to, and prior written consent from, Lender. Furthermore, Borrower shall not allow changes in the stated overall use of the Property as a retail center from that disclosed to Lender at the time of execution hereof without prior notice to, and prior written consent from, Lender (provided that Lender’s consent shall not be required for particular tenant uses under Approved Leases).