Common use of Condition of Mortgaged Property Clause in Contracts

Condition of Mortgaged Property. Except as otherwise disclosed by Borrower in writing to Lender in connection with the application for the Term Loan each of the following statements in this Section 6.02(p) is true. Each Mortgaged Property is in good condition, order and repair, there exist no structural or other material defects in any Mortgaged Property, whether latent or otherwise, and the Borrower has not received notice from any insurance company or bonding company of any defects or inadequacies in any Mortgaged Property, or any part of it, which would adversely affect the insurability of any Mortgaged Property or cause the imposition of extraordinary premiums or charges for insurance or of any termination or threatened termination of any policy of insurance or bond. To the best knowledge of the Borrower, no claims have been made against any contractor, architect or other party with respect to the condition of any Mortgaged Property or the existence of any structural or other material defect therein. Each Mortgaged Property has not been materially damaged by fire, or other casualty which damage has not been fully repaired or for which insurance proceeds have not been received or are not expected to be received except as disclosed in writing to Xxxxxx Mae or the Lender; there are no proceedings pending for partial or total condemnation of any Mortgaged Property except as disclosed in writing to Xxxxxx Xxx or the Lender. No Mortgaged Property is under construction or substantial rehabilitation.

Condition of Mortgaged Property. Except as disclosed in any third party report delivered to the Loan Servicer prior to the applicable Closing Date, or otherwise disclosed by Borrower in writing by the applicable Borrower to Lender in connection with the application for the Term Loan Servicer prior to such Closing Date, each of the following statements in this Section 6.02(p) is true. Each Mortgaged Property is in good condition, order and repair, there exist no structural or other material defects in any such Mortgaged PropertyProperty (whether patent or, whether to the best knowledge of the Borrower, latent or otherwise, ) and the Borrower has not received notice from any insurance company or bonding company of any defects or inadequacies in any such Mortgaged Property, or any part of it, which would adversely affect the insurability of any such Mortgaged Property or cause the imposition of extraordinary premiums or charges for insurance or of any termination or threatened termination of any policy of insurance or bond. To the best knowledge of the Borrower, no No claims have been made against any contractor, architect or other party with respect to the condition of any Mortgaged Property or the existence of any structural or other material defect therein. Each No Mortgaged Property has not been materially damaged by fire, or other casualty which damage has not been fully repaired or for which insurance proceeds have not been received or are not expected to be received except as previously disclosed in writing to Xxxxxx Mae or the Lender; there Loan Servicer. There are no proceedings pending for partial or total condemnation of any Mortgaged Property except as disclosed in writing to Xxxxxx Xxx or the LenderLoan Servicer. No Mortgaged Property is under construction or substantial rehabilitation.