Common use of Conditions Precedent to Addition of an Additional Mortgaged Property to the Collateral Pool Clause in Contracts

Conditions Precedent to Addition of an Additional Mortgaged Property to the Collateral Pool. The addition of an Additional Mortgaged Property to the Collateral Pool on the Closing Date applicable to the Additional Mortgaged Property is subject to the satisfaction of the following conditions precedent: (a) The proposed Additional Mortgaged Property has a Debt Service Coverage Ratio for the Trailing 12 Month Period of not less than 140% and a Loan to Value Ratio of not more than 65% and immediately after giving effect to the requested addition, the Coverage and LTV Tests will be satisfied, and in the case of any substitution effected pursuant to Section 7.04 of this Agreement, the Coverage and LTV Tests are not adversely affected after giving effect to the proposed substitution; (b) The receipt by the Lender of the Collateral Addition Fee, except as provided in Section 16.02(b), and all legal fees and expenses payable by the Borrower in connection with the Collateral Addition pursuant to Section 16.04(b); (c) The delivery to the Title Company, with fully executed instructions directing the Title Company to file and/or record in all applicable jurisdictions, all applicable Collateral Addition Loan Documents required by the Lender, including duly executed and delivered original copies of any Security Instruments and UCC-1 Financing Statements covering the portion of the Additional Mortgaged Property comprised of personal property, and other appropriate documents, in form and substance satisfactory to the Lender and in form proper for recordation, as may be necessary in the opinion of the Lender to perfect the Lien created by the applicable additional Security Instrument, and any other Collateral Addition Loan Document creating a Lien in favor of the Lender, and the payment of all taxes, fees and other charges payable in connection with such execution, delivery, recording and filing; (d) If required by the Lender, amendments to the Notes and the Security Instruments, reflecting the addition of the Additional Mortgaged Property to the Collateral Pool and, as to any Security Instrument so amended, the receipt by the Lender of an endorsement to the Title Insurance Policy insuring the Security Instrument, amending the effective date of the Title Insurance Policy to the Closing Date and showing no additional exceptions to coverage other than the exceptions shown on the Initial Closing Date, Permitted Liens and other exceptions approved by the Lender; (e) If the Title Insurance Policy for the Additional Mortgaged Property contains a Tie-In Endorsement, an endorsement to each other Title Insurance Policy containing a Tie-In Endorsement, adding a reference to the Additional Mortgaged Property; and (f) The satisfaction of all applicable General Conditions set forth in Article XI.

Conditions Precedent to Addition of an Additional Mortgaged Property to the Collateral Pool. The addition of an Additional Mortgaged Property to the Collateral Pool on the applicable Closing Date applicable to the Additional Mortgaged Property is subject to the satisfaction of the following conditions precedent: (a) The proposed Additional Mortgaged Property has a Debt Service Coverage Ratio for the Trailing 12 Month Period of not less than 140% 1.55 with respect to the portion of the Allocated Facility Amount for such Additional Mortgaged Property drawn from the Fixed Facility Commitment and 1.30 with respect to the portion of the Allocated Facility Amount for such Additional Mortgaged Property drawn from the Variable Facility Commitment and a Loan to Value Ratio of not more than 65% and fifty-five percent (55%) or immediately after giving effect to the requested addition, the Coverage and LTV Tests will be satisfied, and in provided that the case Additional Mortgaged Property has a Debt Service Coverage Ratio of any substitution effected pursuant to Section 7.04 of this Agreement, the Coverage and LTV Tests are not adversely affected after giving effect less than 1.35 with respect to the proposed substitutionportion of the Allocated Facility Amount for such Additional Mortgaged Property drawn from the Fixed Facility Commitment and 1.10 with respect to the portion of the Allocable Facility Amount for such Mortgaged Property drawn from the Variable Facility Commitment, and its Loan to Value Ratio must not exceed sixty-five percent (65%); (b) The receipt Receipt by the Lender of the Collateral Addition Fee, except as provided in Section 16.02(b), and all legal fees and expenses payable by or if the Borrower Additional Mortgaged Property is being added in connection with the Collateral Addition a substitution made pursuant to Section 16.04(b)3.05 of this Agreement, receipt by Lender of the Substitution Fee; (c) The delivery Delivery to the Title Company, with fully executed instructions directing the Title Company to file and/or record in all applicable jurisdictions, all applicable Collateral Addition Loan Documents required by the Lender, including duly executed and delivered original copies of any Security Instruments and UCC-1 Financing Statements covering the portion of the Additional Mortgaged Property comprised of personal property, and other appropriate documents, in form and substance satisfactory to the Lender and in form proper for recordation, as may be necessary in the opinion of the Lender to perfect the Lien created by the applicable additional Security Instrument, and any other Collateral Addition Loan Document creating a Lien in favor of the Lender, and the payment of all taxes, fees and other charges payable in connection with such execution, delivery, recording and filing; (d) If required by the Lender, amendments to the Notes and the Security Instruments, reflecting the addition of the Additional Mortgaged Property to the Collateral Pool and, as to any Note or Security Instrument so amendedamended or if Lender determines that such endorsement is necessary to maintain the priority of the Lien created in favor of Lender with respect to the Outstanding Indebtedness or to maintain the validity of any Title Insurance Policy, the receipt by the Lender of an endorsement to the each Title Insurance Policy insuring the Security Instrument, amending the effective date of the each Title Insurance Policy to the Closing Date and showing no additional exceptions to coverage other than the exceptions shown on the Initial Closing Date, Permitted Liens and other exceptions approved by the Lender; (e) If the Title Insurance Policy for the Additional Mortgaged Property contains a Tietie-In Endorsementin endorsement, an endorsement to each other Title Insurance Policy containing a Tietie-In Endorsementin endorsement, adding a reference to the Additional Mortgaged Property, to the extent a tie-in endorsement is available with respect to the applicable Title Insurance Policy; (f) Any proposed Additional Borrower meets and satisfies all of the requirements and conditions of Section 14.02; and (fg) The satisfaction Receipt by Lender on the Closing Date of all applicable General Conditions set forth in Article XIa Confirmation of Obligations.

Conditions Precedent to Addition of an Additional Mortgaged Property to the Collateral Pool. The addition Addition of an Additional Mortgaged Property to the Collateral Pool (but not the Substitution of a Substitute Mortgaged Property into the Collateral Pool, which is governed exclusively by Section 5.06) on the applicable Closing Date applicable to the Additional Mortgaged Property is subject to the satisfaction Lender’s determination that each of the following conditions precedentprecedent has been satisfied: (a) The proposed Additional Mortgaged Property has a Debt Service Coverage Ratio for the Trailing 12 Month Period of not less than 140% and a Loan to Value Ratio of not more than 65% and immediately after giving effect to the requested addition, the Coverage and LTV Tests Underwriting Requirements will be satisfied, and in the case of any substitution effected pursuant to Section 7.04 of this ; Colonial/PNC ARCS — Master Credit Facility Agreement, the Coverage and LTV Tests are not adversely affected after giving effect to the proposed substitution; (b) The receipt requirements of Section 3.02(b) will be satisfied; (c) Receipt by the Lender of the Collateral Addition Fee, except as provided in ; (d) Receipt by Lender of the Additional Collateral Due Diligence Fee pursuant to Section 16.02(b10.03(b), and ; (e) Receipt by Lender of all legal fees and expenses payable by the Borrower in connection with the Collateral Addition Request pursuant to Section 16.04(b)10.04; (cf) The delivery Receipt by Lender of any required subordination, non-disturbance and attornment agreements and/or estoppel certificates with respect to any commercial leases affecting the Additional Mortgaged Property; (g) Delivery to the Title Company, with fully executed instructions directing the Title Company to file and/or record in all applicable jurisdictions, all applicable Collateral Addition Loan Documents required by the Lender, including duly executed and delivered original copies of any Security Instruments and UCC-1 Financing Statements covering the portion of the Additional Mortgaged Property comprised of personal property, and other appropriate documents, in form and substance reasonably satisfactory to the Lender and in form proper for recordation, as may be necessary in the opinion of the Lender to perfect the Lien created by the applicable additional Security Instrument, and any other Collateral Addition Loan Document creating a Lien in favor of the Lender, and the payment of all taxes, fees and other charges payable in connection with such execution, delivery, recording and filing; (dh) If reasonably required by the Lender, amendments to the Notes and the Security Instruments, reflecting the addition Addition of any Additional Borrower and/or the Additional Mortgaged Property to the Collateral Pool and, as to any Security Instrument so amended, the receipt by the Lender of an endorsement to the Title Insurance Policy insuring the Security Instrument, amending the effective date of the Title Insurance Policy to the Closing Date and showing no additional exceptions to coverage other than the exceptions shown on the Initial Closing Date, Permitted Liens and other exceptions approved by the LenderLiens; (ei) If the Title Insurance Policy for the Additional Mortgaged Property contains a Tietie-In Endorsementin endorsement, an endorsement to each other Title Insurance Policy containing a Tietie-In Endorsementin endorsement, adding a reference to the Additional Mortgaged Property; and (fj) The satisfaction Receipt by Lender of all applicable General Conditions set forth in Article XIevidence that any code violations have been resolved to Lender’s satisfaction.

Conditions Precedent to Addition of an Additional Mortgaged Property to the Collateral Pool. The addition of an Additional Mortgaged Property to the Collateral Pool on the applicable Closing Date applicable to the Additional Mortgaged Property is subject to the satisfaction of the following conditions precedent: (a) The If the Additional Mortgaged Property is being added to the Collateral Pool prior to the First Anniversary, the Coverage and LTV Tests will be satisfied; (b) If the Additional Mortgaged Property is being added to the Collateral Pool after the First Anniversary, (A) the proposed Additional Mortgaged Property has (1) a Debt Service Coverage Ratio for the Trailing 12 Month Period of not less than 140% 1.25:1 with respect to the portion of the Advances Outstanding drawn from the Fixed Facility Commitment, not less than 1.0:1 with respect to the portion of the Advances Outstanding drawn from the Variable Facility Commitment and not less than 1:25:1 with respect to the portion of the Bond Loans Outstanding drawn from the Credit Enhancement Facility Commitment and (2) a Loan to Value Ratio of not more than 65% seventy-five percent (75%) and (B) immediately after giving effect to the requested addition, the Coverage and LTV Tests will be satisfied, and in the case of any substitution effected pursuant to Section 7.04 of this Agreement, the Coverage and LTV Tests are not adversely affected after giving effect to the proposed substitution; (b) The receipt by the Lender of the Collateral Addition Fee, except as provided in Section 16.02(b), and all legal fees and expenses payable by the Borrower in connection with the Collateral Addition pursuant to Section 16.04(b); (c) The delivery Receipt by Lender of the Addition Fee (provided that no such fee shall be due with respect to an Additional Mortgaged Property that is added in connection with an increase in the Commitment and the payment of an Expansion Origination Fee), or if the Additional Mortgaged Property is being added in connection with a substitution made pursuant to Section 3.05 of this Agreement, receipt by Lender of the Substitution Fee; (d) Delivery to the Title Company, with fully executed instructions directing the Title Company to file and/or record in all applicable jurisdictions, all applicable Collateral Addition Loan Documents required by the Lender, including duly executed and delivered original copies of any Security Instruments and UCC-1 Financing Statements covering the portion of the Additional Mortgaged Property comprised of personal property, and other appropriate documents, in form and substance satisfactory to the Lender and in form proper for recordation, as may be necessary in the opinion of the Lender to perfect the Lien created by the applicable additional Security Instrument, and any other Collateral Addition Loan Document creating a Lien in favor of the Lender, and the payment of all taxes, fees and other charges payable in connection with such execution, delivery, recording and filing; (de) If required by the Lender, amendments to the Notes and the Security Instruments, reflecting the addition of the Additional Mortgaged Property to the Collateral Pool and, as to any Security Instrument so amended, the receipt by the Lender of an endorsement to the Title Insurance Policy insuring the Security Instrument, amending the effective date of the Title Insurance Policy to the Closing Date and showing no additional exceptions to coverage other than the exceptions shown on the Initial Closing Date, Permitted Liens Date and other exceptions approved by the Lender; (ef) If the Title Insurance Policy for the Additional Mortgaged Property contains a Tietie-In Endorsementin endorsement, an endorsement to each other Title Insurance Policy containing a Tietie-In Endorsementin endorsement, adding a reference to the Additional Mortgaged Property; (g) Any proposed Additional Borrower meets and satisfies all of the requirements and conditions of Section 14.02; and (fh) The satisfaction Delivery of all applicable General Conditions the documents set forth in Article XISection 6.11 of this Agreement.

Conditions Precedent to Addition of an Additional Mortgaged Property to the Collateral Pool. The addition of an Additional Mortgaged Property to the Collateral Pool on the Closing Date applicable to the Additional Mortgaged Property is subject to the satisfaction of the following conditions precedent: (a) The proposed Additional Mortgaged Property has a Debt Service Coverage Ratio for the Trailing 12 Month Period of not less than one hundred forty percent (140% %) and a Loan to Value Ratio of not more than sixty-five percent (65% %) and immediately after giving effect to the requested addition, the Coverage and LTV Tests will be satisfied. Notwithstanding the foregoing, and if any of the tests set forth above in Section 6.03(a) or the case of any substitution effected pursuant to Section 7.04 of this Agreement, the Coverage and LTV Tests Geographical Diversification Requirements or Concentration Test are not adversely affected satisfied after giving effect the addition of a proposed Additional Mortgaged Property, such addition may be permitted by Lender if the addition improves the Collateral Pool based on factors that are consistent with Lender’s Underwriting Requirements and results in improvement in one or both of the following areas: the then current Aggregate Debt Service Coverage Ratio for the Trailing 12 Month Period or the then current Aggregate Loan to Value Ratio. Notwithstanding the proposed substitution;foregoing, under no circumstances shall the Aggregate Loan to Value Ratio exceed ninety percent (90%). (b) The receipt by the Lender of the Collateral Addition Fee, except as provided in Section 16.02(b), and all legal fees and expenses payable by the Borrower in connection with the Collateral Addition pursuant to Section 16.04(b); (c) The delivery to the Title Company, with fully executed instructions directing the Title Company to file and/or record in all applicable jurisdictions, all applicable Collateral Addition Loan Documents required by the Lender, including duly executed and delivered original copies of any Security Instruments and UCC-1 Financing Statements covering the portion of the Additional Mortgaged Property comprised of personal property, and other appropriate documents, in form and substance satisfactory to the Lender and in form proper for recordation, as may be necessary in the opinion of the Lender to perfect the Lien created by the applicable additional Security Instrument, and any other Collateral Addition Loan Document creating a Lien in favor of the Lender, and the payment of all taxes, fees and other charges payable in connection with such execution, delivery, recording and filing; (d) If required by the Lender, amendments to the Notes and the Security Instruments, reflecting the addition of the Additional Mortgaged Property to the Collateral Pool and, as to any Security Instrument so amended, the receipt by the Lender of an endorsement to the Title Insurance Policy insuring the Security Instrument, amending the effective date of the Title Insurance Policy to the Closing Date and showing no additional exceptions to coverage other than the exceptions shown on the Initial last Closing DateDate with respect to which the Title Insurance Policy was endorsed, Permitted Liens and other exceptions approved by the Lender; (e) If the Title Insurance Policy for the Additional Mortgaged Property contains a Tie-In Endorsement, an endorsement to each other Title Insurance Policy containing a Tie-In Endorsement, adding a reference to the Additional Mortgaged Property; and (f) The satisfaction of all applicable General Conditions set forth in Article XI11.

Conditions Precedent to Addition of an Additional Mortgaged Property to the Collateral Pool. The addition of an Additional Mortgaged Property to the Collateral Pool on the Closing Date applicable to the Additional Mortgaged Property is subject to the satisfaction of the following conditions precedent: (a) The If the Additional Mortgaged Property is being added to the Collateral Pool prior to the first anniversary of the Initial Closing Date, the Coverage and LTV Tests will be satisfied; (b) If the Additional Mortgaged Property is being added to the Collateral Pool after the first anniversary of the Initial Closing Date, the proposed Additional Mortgaged Property has a Debt Service Coverage Ratio for the Trailing 12 Month Period of not less than 140135% and a Loan to Value Ratio for the Trailing 12 Month Period of not more than 65% and immediately after giving effect to the requested addition, the Coverage and LTV Tests will be satisfied, and in the case of any substitution effected pursuant to Section 7.04 of this Agreement, the Coverage and LTV Tests are not adversely affected after giving effect to the proposed substitution; (bc) The receipt by the Lender of the Collateral Addition Fee, except as provided in Section 16.02(b), Fee and all legal fees and expenses payable by the Borrower in connection with the Collateral Addition pursuant to Section 16.04(b); (cd) The delivery to the Title Company, with fully executed instructions directing the Title Company to file and/or record in all applicable jurisdictions, all applicable Collateral Addition Loan Documents required by the Lender, including duly executed and delivered original copies of any Security Instruments and UCC-1 Financing Statements covering the portion of the Additional Mortgaged Property comprised of personal property, and other appropriate documents, in form and substance satisfactory to the Lender and in form proper for recordation, as may be necessary in the opinion of the Lender to perfect the Lien created by the applicable additional Security Instrument, and any other Collateral Addition Loan Document creating a Lien in favor of the Lender, and the payment of all taxes, fees and other charges payable in connection with such execution, delivery, recording and filing; (de) If required by the Lender, amendments to the Notes and the Security Instruments, reflecting the addition of the Additional Mortgaged Property to the Collateral Pool and, as to any Security Instrument so amended, the receipt by the Lender of an endorsement to the Title Insurance Policy insuring the Security Instrument, amending the effective date of the Title Insurance Policy to the Closing Date and showing no additional exceptions to coverage other than the exceptions shown on the Initial Closing Date, Permitted Liens Date and other exceptions approved by the Lender; (ef) If the Title Insurance Policy for the Additional Mortgaged Property contains a Tie-In Endorsement, an endorsement to each other Title Insurance Policy containing a Tie-In Endorsement, adding a reference to the Additional Mortgaged Property; and (fg) The satisfaction of all applicable General Conditions set forth in Article XI.

Conditions Precedent to Addition of an Additional Mortgaged Property to the Collateral Pool. The addition of an Additional Mortgaged Property to the Collateral Pool on the applicable Closing Date applicable to the Additional Mortgaged Property is subject to the satisfaction of the conditions of Section 4.01 and each of the following conditions precedent: (a) The proposed Satisfaction of the conditions precedent to the addition of the Additional Mortgaged Property has a Debt Service Coverage Ratio for contained in Article V of the Trailing 12 Month Period of not less than 140% and a Loan to Value Ratio of not more than 65% and immediately after giving effect to the requested addition, the Coverage and LTV Tests will be satisfied, and in the case of any substitution effected pursuant to Section 7.04 of this Master Reimbursement Agreement, the Coverage and LTV Tests are not adversely affected after giving effect to the proposed substitution; (b) The receipt by the Lender of the Collateral Addition Fee, except as provided in Section 16.02(b), and all legal fees and expenses payable by the Borrower in connection with the Collateral Addition pursuant to Section 16.04(b); (c) The delivery Delivery to the Title Company, with fully executed instructions directing the Title Company to file and/or record in all applicable jurisdictions, all applicable Collateral Addition Loan Documents required by the Lender, including duly executed and delivered original copies of any Security Instruments and UCC-1 Financing Statements covering the portion of the Additional Mortgaged Property comprised of personal property, and other appropriate documents, in form and substance satisfactory to the Lender and in form proper for recordation, as may be necessary in the opinion of the Lender to perfect the Lien created by the applicable additional Security Instrument, and any other Collateral Addition Loan Document creating a Lien in favor of the Lender, and the payment of all taxes, fees and other charges payable in connection with such execution, delivery, recording and filing; (c) Receipt by Lender of the Collateral Addition Fee and all legal fees and expenses payable by Borrower in connection with the Addition Request pursuant to Section 7.03; (d) If required by the Lender, amendments to the Notes Note and the Security Instruments, reflecting the addition of the Additional Mortgaged Property to the Collateral Pool and, as to any Security Instrument so amended, the receipt by the Lender of an endorsement to the Title Insurance Policy insuring the Security Instrument, amending the effective date of the Title Insurance Policy to the Closing Date and showing no additional exceptions to coverage other than the exceptions shown on the Initial Closing Date, Permitted Liens and other exceptions approved by the LenderLiens; (e) If the Title Insurance Policy for the Additional Mortgaged Property contains a Tie-In Endorsement, an endorsement to each other Title Insurance Policy containing a Tie-In Endorsement, adding a reference to the Additional Mortgaged Property; and (f) The satisfaction Delivery of all applicable General Conditions the documents set forth in Article XISection 4.03 of this Agreement with respect to the Additional Mortgaged Property and any additional Loan being made in connection with the addition of the Additional Mortgaged Property.

Conditions Precedent to Addition of an Additional Mortgaged Property to the Collateral Pool. The addition of an Additional Mortgaged Property to the Collateral Pool on the Closing Date applicable to the Additional Mortgaged Property is subject to the satisfaction of the following conditions precedent: (a) The proposed Additional Mortgaged Property has a Debt Service Coverage Ratio for the Trailing 12 Month Period of not less than 140% and a Loan to Value Ratio of not more than 65% and immediately after giving effect to the requested addition, the Coverage and LTV Tests will be satisfied, and in the case of any substitution effected pursuant to Section 7.04 of this Agreement, the Coverage and LTV Tests are not adversely affected after giving effect to the proposed substitution; (b) The receipt by the Lender of the Collateral Addition Fee, except as provided in Section 16.02(b), and all legal fees and expenses payable by the Borrower in connection with the Collateral Addition pursuant to Section 16.04(b); (c) The delivery to the Title Company, with fully executed instructions directing the Title Company to file and/or record in all applicable jurisdictions, all applicable Collateral Addition Loan Documents required by the Lender, including duly executed and delivered original copies of any Security Instruments and UCC-1 Financing Statements covering the portion of the Additional Mortgaged Property comprised of personal property, and other appropriate documents, in form and substance satisfactory to the Lender and in form proper for recordation, as may be necessary in the opinion of the Lender to perfect the Lien created by the applicable additional Security Instrument, and any other Collateral Addition Loan Document creating a Lien in favor of the Lender, and the payment of all taxes, fees and other charges payable in connection with such execution, delivery, recording and filing; (d) If required by the Lender, amendments to the Notes and the Security Instruments, reflecting the addition of the Additional Mortgaged Property to the Collateral Pool and, as to any Security Instrument so amended, the receipt by the Lender of an endorsement to the Title Insurance Policy insuring the Security Instrument, amending the effective date of the Title Insurance Policy to the Closing Date and showing no additional exceptions to coverage other than the exceptions shown on the Initial Closing Date, Permitted Liens and other exceptions approved by the Lender; (e) If the Title Insurance Policy for the Additional Mortgaged Property contains a Tie-In Endorsement, an endorsement to each other Title Insurance Policy containing a Tie-In Endorsement, adding a reference to the Additional Mortgaged Property; and (f) The satisfaction of all applicable General Conditions set forth in Article XI.

Conditions Precedent to Addition of an Additional Mortgaged Property to the Collateral Pool. The addition of an Additional Mortgaged Property to the Collateral Pool on the applicable Closing Date applicable to the Additional Mortgaged Property is subject to the satisfaction of the following conditions precedent: (a) The proposed Additional Mortgaged Property itself has a Debt Service Coverage Ratio for the Trailing 12 Month Period of not less than 140% 1.30:1.0 with respect to the amount of the Advance which equals the Allocated Facility Amount which is allocated to such Additional Mortgaged Property drawn from the Fixed Facility Commitment and 1.05:1.0 with respect to the amount of the Advance which equals the Allocated Facility Amount which is allocated to such Additional Mortgaged Property drawn from the Variable Facility Commitment and a Loan to Value Ratio of not more than 65% seventy-five percent (75%) and immediately after giving effect to the requested addition, the Coverage and LTV Tests will be satisfied, and in provided that if either of the case of any substitution effected pursuant to Section 7.04 of this Agreement, the Coverage and LTV Tests tests described above are not adversely affected after giving effect met, Lender may permit the Additional Mortgaged Property to be added to the proposed substitutionCollateral Pool; (b) The receipt Receipt by the Lender of the Additional Collateral Due Diligence Deposit, the Addition Fee, except as (provided in Section 16.02(b), and all legal fees and expenses payable by the Borrower that no such fee shall be due with respect to an Additional Mortgaged Property that is added in connection with an Expansion and the payment of an Expansion Origination Fee) and the Additional Collateral Addition Due Diligence Fees, or if the Additional Mortgaged Property is being added in connection with a substitution made pursuant to Section 16.04(b)3.05 of this Agreement, receipt by Lender of the Substitution Fee and the Additional Collateral Due Diligence Deposit and the Additional Collateral Due Diligence Fees; (c) The delivery Delivery to the Title Company, with fully executed instructions directing the Title Company to file and/or record in all applicable jurisdictions, all applicable Collateral Addition Loan Documents required by the Lender, including duly executed and delivered original copies of any Security Instruments and UCC-1 Financing Statements covering the portion of the Additional Mortgaged Property comprised of personal property, and other appropriate documents, in form and substance satisfactory to the Lender and in form proper for recordation, as may be necessary in the opinion of the Lender to perfect the Lien created by the applicable additional Security Instrument, and any other Collateral Addition Loan Document creating a Lien in favor of the Lender, and the payment of all taxes, fees and other charges payable in connection with such execution, delivery, recording and filing; (d) If required by the Lender, amendments to the Notes and the Security Instruments, reflecting the addition of the Additional Mortgaged Property to the Collateral Pool and, as to any Note or Security Instrument so amendedamended or if Lender determines that such endorsement is necessary to maintain the priority of the Lien created in favor of Lender with respect to the Outstanding Indebtedness or to maintain the validity of any Title Insurance Policy, the receipt by the Lender of an endorsement to the each Title Insurance Policy insuring the Security InstrumentInstruments, amending the effective date of the each Title Insurance Policy to the Closing Date and showing no additional exceptions to coverage other than the exceptions shown on the Initial Closing Date, Permitted Liens and other exceptions approved by the Lender; (e) If the Title Insurance Policy for the Additional Mortgaged Property contains a Tietie-In Endorsementin endorsement, an endorsement to each other Title Insurance Policy containing a Tietie-In Endorsementin endorsement, adding a reference to the Additional Mortgaged Property; (f) Any proposed Additional Borrower meets and satisfies all of the requirements and conditions of Section 14.02; (g) Receipt by Lender on the Closing Date of a Confirmation of Obligations; and (fh) The satisfaction of all applicable General Conditions set forth For any Addition on or after the First Anniversary, the Mortgaged Properties in Article XIthe Collateral Pool after the Addition shall satisfy the Geographical Diversification Requirements.

Conditions Precedent to Addition of an Additional Mortgaged Property to the Collateral Pool. The addition of an Additional Mortgaged Property to the Collateral Pool on the applicable Closing Date applicable to the Additional Mortgaged Property is subject to the satisfaction of the following conditions precedent: (a) The proposed Additional Mortgaged Property has a Debt Service Coverage Ratio for the Trailing 12 Month Period of not less than 140% and a Loan to Value Ratio of not more than 65% and immediately Immediately after giving effect to the requested addition, the Coverage and LTV Tests will be provisions of Section 3.01(b) are satisfied, and in the case of any substitution effected pursuant to Section 7.04 of this Agreement, the Coverage and LTV Tests are not adversely affected after giving effect to the proposed substitution; (b) The receipt Receipt by the Lender of the Addition Fee and the Additional Collateral Addition FeeDue Diligence Fees, except as provided in Section 16.02(b), and all legal fees and expenses payable by or if the Borrower Additional Mortgaged Property is being added in connection with the Collateral Addition a substitution made pursuant to Section 16.04(b)3.05 of this Agreement, receipt by Lender of the Substitution Fee and the Additional Collateral Due Diligence Fees; (c) The delivery Delivery to the Title Company, with fully executed instructions directing the Title Company to file and/or record in all applicable jurisdictions, of all applicable Collateral Addition Loan Documents required by the LenderLender to be filed or recorded, including duly executed and delivered original copies of any the Security Instruments covering the Additional Mortgaged Properties and UCC-1 Financing Statements covering the portion of the Additional Mortgaged Property Collateral comprised of personal property, and other appropriate documentsinstruments, in form and substance satisfactory to the Lender and in form proper for recordation, as may be necessary in the opinion of the Lender to perfect the Lien created by the applicable additional Security Instrument, Instrument and any other Collateral Addition Loan Document creating a Lien in favor of the Lender, and the payment of all taxes, fees and other charges payable in connection with such execution, delivery, recording and filing; (d) If reasonably required by the Lender, (i) amendments to this Agreement, the Notes and the Security Instruments, reflecting the addition of the Additional Mortgaged Property to the Collateral Pool and, (ii) as to any Security Instrument so amended, the receipt by the Lender of an endorsement to the each Title Insurance Policy (or a new Title Insurance Policy, if required in the applicable jurisdiction) (A) insuring the Security InstrumentInstruments, (B) amending the effective date of the each Title Insurance Policy to the Closing Date and (C) showing no additional exceptions to coverage other than the exceptions shown on the Initial Closing Date, Permitted Liens and other exceptions approved by Lender, if Lender determines that such endorsement is necessary to maintain the Lenderpriority of the Lien created in favor of Lender with respect to the Outstanding Indebtedness or to maintain the validity of any Title Insurance Policy; (e) If the Title Insurance Policy for the Additional Mortgaged Property contains a Tietie-In Endorsementin endorsement, an endorsement to each other Title Insurance Policy containing a Tietie-In Endorsementin endorsement, adding a reference to the Additional Mortgaged Property; (f) Any proposed Additional Borrower meets and satisfies all of the requirements and conditions of Section 14.02; and (fg) The satisfaction Receipt by Lender on the Closing Date of all applicable General Conditions set forth in Article XIa Confirmation of Obligations.

Conditions Precedent to Addition of an Additional Mortgaged Property to the Collateral Pool. The addition of an Additional Mortgaged Property to the Collateral Pool on the applicable Closing Date applicable to the Additional Mortgaged Property is subject to the satisfaction of the following conditions precedent: (a) The proposed Additional Mortgaged Property has a Debt Service Coverage Ratio for the Trailing 12 Month Period of not less than 140% and a Loan to Value Ratio of not more than 65% and immediately Immediately after giving effect to the requested additionAddition, the Coverage and LTV Tests will be provisions of Section 3.02(b) are satisfied, and in the case of any substitution effected pursuant to Section 7.04 of this Agreement, the Coverage and LTV Tests are not adversely affected after giving effect to the proposed substitution; (b) The receipt Receipt by the Lender of the Additional Collateral Due Diligence Deposit, the Addition Fee, except as (provided in Section 16.02(b), and all legal fees and expenses payable by the Borrower that no such fee shall be due with respect to an Additional Mortgaged Property that is added in connection with an Expansion and the payment of an Expansion Origination Fee) and the Additional Collateral Addition Due Diligence Fees, or if the Additional Mortgaged Property is being added in connection with a substitution made pursuant to Section 16.04(b)3.05 of this Agreement, receipt by Lender of the Substitution Fee and the Additional Collateral Due Diligence Deposit and the Additional Collateral Due Diligence Fees; (c) The delivery Delivery to the Title Company, with fully executed instructions directing the Title Company to file and/or record in all applicable jurisdictions, all applicable Collateral Addition Loan Documents required by the Lender, including duly executed and delivered original copies of any Security Instruments and UCC-1 Financing Statements covering the portion of the Additional Mortgaged Property comprised of personal property, and other appropriate documents, in form and substance satisfactory to the Lender and in form proper for recordation, as may be necessary in the opinion of the Lender to perfect the Lien created by the applicable additional Security Instrument, and any other Collateral Addition Loan Document creating a Lien in favor of the Lender, and the payment of all taxes, fees and other charges payable in connection with such execution, delivery, recording and filing; (d) If required by the Lender, amendments to the Notes and the Security Instruments, reflecting the addition of the Additional Mortgaged Property to the Collateral Pool and, as to any Note or Security Instrument so amendedamended or if Lender determines that such endorsement is necessary to maintain the priority of the Lien created in favor of Lender with respect to the Outstanding Indebtedness or to maintain the validity of any Title Insurance Policy, the receipt by the Lender of an endorsement to the each Title Insurance Policy insuring the Security InstrumentInstruments, amending the effective date of the each Title Insurance Policy to the Closing Date and showing no additional exceptions to coverage other than the exceptions shown on the Initial Closing Date, Permitted Liens and other exceptions approved by the Lender; (e) If the Title Insurance Policy for the Additional Mortgaged Property contains a Tietie-In Endorsementin endorsement, an endorsement to each other Title Insurance Policy containing a Tietie-In Endorsementin endorsement, adding a reference to the Additional Mortgaged Property; (f) Any proposed Additional Borrower meets and satisfies all of the requirements and conditions of Section 14.02; (g) Receipt by Lender on the Closing Date of a Confirmation of Obligations; and (fh) The satisfaction of all applicable General Conditions set forth For any Addition on or after the First Anniversary, the Mortgaged Properties in Article XIthe Collateral Pool after the Addition shall satisfy the Geographical Diversification Requirements.

Conditions Precedent to Addition of an Additional Mortgaged Property to the Collateral Pool. The addition of an Additional Mortgaged Property to the Collateral Pool on the Closing Date applicable to the Additional Mortgaged Property is subject to the satisfaction of the following conditions precedent: (a) The If the Additional Mortgaged Property is being added to the Collateral Pool prior to the first anniversary of the Initial Closing Date, the Coverage and LTV Tests will be satisfied; (b) If the Additional Mortgaged Property is being added to the Collateral Pool after the first anniversary of the Initial Closing Date, the proposed Additional Mortgaged Property has a Debt Service Coverage Ratio for the Trailing 12 Month Period of not less than 140130% and a Loan to Value Ratio for the Trailing 12 Month Period of not more than 6570% and immediately after giving effect to the requested addition, the Coverage and LTV Tests will be satisfied, and in the case of any substitution effected pursuant to Section 7.04 of this Agreement, the Coverage and LTV Tests are not adversely affected after giving effect to the proposed substitution; (bc) The If the Collateral Addition Fee is due, the receipt by the Lender of the Collateral Addition Fee, except as provided in Section 16.02(b), Fee and all legal fees and expenses payable by the Borrower in connection with the Collateral Addition pursuant to Section 16.04(b); (cd) The delivery to the Title Company, with fully executed instructions directing the Title Company to file and/or record in all applicable jurisdictions, all applicable Collateral Addition Loan Documents required by the Lender, including duly executed and delivered original copies of any Security Instruments and UCC-1 Financing Statements covering the portion of the Additional Mortgaged Property comprised of personal property, and other appropriate documents, in form and substance satisfactory to the Lender and in form proper for recordation, as may be necessary in the opinion of the Lender to perfect the Lien created by the applicable additional Security Instrument, and any other Collateral Addition Loan Document creating a Lien in favor of the Lender, and the payment of all taxes, fees and other charges payable in connection with such execution, delivery, recording and filing; (de) If required by the Lender, amendments to the Notes and the Security Instruments, reflecting the addition of the Additional Mortgaged Property to the Collateral Pool and, as to any Security Instrument so amended, the receipt by the Lender of an endorsement to the Title Insurance Policy insuring the Security Instrument, amending the effective date of the Title Insurance Policy to the Closing Date and showing no additional exceptions to coverage other than the exceptions shown on the Initial Closing Date, Permitted Liens Date and other exceptions approved by the Lender; (ef) If the Title Insurance Policy for the Additional Mortgaged Property contains a Tie-In Endorsement, an endorsement to each other Title Insurance Policy containing a Tie-In Endorsement, adding a reference to the Additional Mortgaged Property; and (fg) The satisfaction of all applicable General Conditions set forth in Article XI.

Conditions Precedent to Addition of an Additional Mortgaged Property to the Collateral Pool. The addition Addition of an Additional Mortgaged Property to the Collateral Pool (other than a Substitution of a Substitute Mortgaged Property into the Collateral Pool, which is governed by Section 5.06 on the applicable Closing Date applicable to the Additional Mortgaged Property is subject to the satisfaction of the following conditions precedent: (a) The proposed Additional Mortgaged Property has a Debt Service Coverage Ratio for receipt by Lender of the Trailing 12 Month Period fully executed Addition Request; (b) the requirements of not less than 140% and a Loan to Value Ratio of not more than 65% and Section 3.02(b) shall be satisfied immediately after giving effect to the requested addition, proposed Addition; (c) receipt by Lender of the Coverage and LTV Tests will be satisfied, and in the case of any substitution effected Additional Collateral Due Diligence Fee pursuant to Section 7.04 of this Agreement, the Coverage and LTV Tests are not adversely affected after giving effect to the proposed substitution10.02(b); (bd) The receipt by the Lender of the Collateral Addition Fee, except as provided in Section 16.02(b), and all reasonable legal fees and expenses payable by the Borrower in connection with the Collateral Addition pursuant to Section 16.04(b)Request; (ce) The receipt by Lender of documents and instruments required by Section 5.09 and Section 5.10; (f) receipt by Lender prior to the Closing Date of the amendment to the Operating Lease evidencing the Addition of the Additional Mortgaged Property to the terms of the Operating Lease and, if applicable, adjusting the rent payment under the Operating Lease pursuant to the terms of the Operating Lease; (g) receipt by Lender of any subordination, non-disturbance and attornment agreements and/or estoppel certificates required by Lender with respect to any commercial leases, master leases and/or ground lease(s) (if any) affecting the Additional Mortgaged Property; (h) delivery to the Title Company, with fully executed instructions directing the Title Company to file for filing and/or record recording in all applicable jurisdictions, all applicable Collateral Addition additional Loan Documents required by the Lender, including duly executed and delivered original copies of any Security Instruments and UCC-1 Financing Statements covering the portion of the Additional Mortgaged Property comprised of personal propertyLender to be filed or recorded, and other appropriate documents, in form and substance satisfactory funds adequate to the Lender and in form proper for recordation, as may be necessary in the opinion of the Lender to perfect the Lien created by the applicable additional Security Instrument, and any other Collateral Addition Loan Document creating a Lien in favor of the Lender, and the payment of pay all taxes, fees and other charges payable in connection with such execution, delivery, recording and filing; (di) If if reasonably required by the Lender, amendments to this Agreement, the Notes and the Security Instruments, reflecting the addition of the Additional Mortgaged Property to the Collateral Pool and, as to any Security Instrument so amended, the receipt by the Lender of an endorsement to the Title Insurance Policy insuring the Security Instrument, amending the effective date of the Title Insurance Policy to the Closing Date and showing no additional exceptions to coverage other than the exceptions shown on the Initial Closing Date, Permitted Liens and other exceptions approved by the LenderLiens; (ej) If if the Title Insurance Policy for the Additional Mortgaged Property contains a Tietie-In Endorsementin endorsement, an endorsement to each other Title Insurance Policy containing a Tietie-In Endorsementin endorsement, adding a reference to the Additional Mortgaged Property; and (fk) The satisfaction receipt by Lender of all applicable General Conditions set forth in Article XIevidence that any code violations affecting the Additional Mortgaged Property have been resolved to Lender’s satisfaction.

Conditions Precedent to Addition of an Additional Mortgaged Property to the Collateral Pool. The addition Addition of an Additional Mortgaged Property to the Collateral Pool (but not the Substitution of a Substitute Mortgaged Property into the Collateral Pool, which is governed exclusively by Section 5.06) on the applicable Closing Date applicable to the Additional Mortgaged Property is subject to the satisfaction Lender’s determination that each of the following conditions precedentprecedent has been satisfied: (a) The proposed Additional Mortgaged Property has a Debt Service Coverage Ratio for Receipt by Lender of the Trailing 12 Month Period of not less than 140% and a Loan to Value Ratio of not more than 65% and immediately after giving effect to the requested addition, the Coverage and LTV Tests will be satisfied, and in the case of any substitution effected pursuant to Section 7.04 of this Agreement, the Coverage and LTV Tests are not adversely affected after giving effect to the proposed substitutionfully executed Addition Request; (b) The receipt Underwriting Requirements will be satisfied; (c) The requirements of Section 3.02(b) will be satisfied; (d) Receipt by the Lender of the Addition Fee or Additional Origination Fee pursuant to Section 10.01(b); (e) Receipt by Lender of the Additional Collateral Addition Fee, except as provided in Due Diligence Fee pursuant to Section 16.02(b10.02(b), and ; (f) Receipt by Lender of all legal fees and expenses payable by the Borrower in connection with the Collateral Addition Request pursuant to Section 16.04(b)10.03; (cg) The delivery Receipt by Lender of any required subordination, non-disturbance and attornment agreements and/or estoppel certificates with respect to any commercial leases and/or ground leases affecting the Additional Mortgaged Property; (h) Delivery to the Title Company, with fully executed instructions directing the Title Company to file and/or record in all applicable jurisdictions, all applicable Collateral Addition Loan Documents required by the Lender, including duly executed and delivered original copies of any Security Instruments and UCC-1 Financing Statements covering the portion of the Additional Mortgaged Property comprised of personal property, and other appropriate documents, in form and substance reasonably satisfactory to the Lender and in form proper for recordation, as may be necessary in the opinion of the Lender to perfect the Lien created by the applicable additional Security Instrument, and any other Collateral Addition Loan Document creating a Lien in favor of the Lender, and the payment of all taxes, fees and other charges payable in connection with such execution, delivery, recording and filing; (di) If reasonably required by the Lender, amendments to the Notes and the Security Instruments, reflecting the addition Addition of any Additional Borrower and/or the Additional Colonial/ Grandbridge — Master Credit Facility Agreement Mortgaged Property to the Collateral Pool and, as to any Security Instrument so amended, the receipt by the Lender of an endorsement to the Title Insurance Policy insuring the Security Instrument, amending the effective date of the Title Insurance Policy to the Closing Date and showing no additional exceptions to coverage other than the exceptions shown on the Initial Closing Date, Permitted Liens and other exceptions approved by the LenderLiens; (ej) If the Title Insurance Policy for the Additional Mortgaged Property contains a Tietie-In Endorsementin endorsement, an endorsement to each other Title Insurance Policy containing a Tietie-In Endorsementin endorsement, adding a reference to the Additional Mortgaged Property; and (fk) The satisfaction Receipt by Lender of all applicable General Conditions set forth in Article XIevidence that any code violations have been resolved to Lender’s satisfaction.

Conditions Precedent to Addition of an Additional Mortgaged Property to the Collateral Pool. The addition of an Additional Mortgaged Property to the Collateral Pool on the Closing Date applicable to the Additional Mortgaged Property is subject to the satisfaction of the following conditions precedent: (a) The If the Additional Mortgaged Property is being added to the Collateral Pool prior to the first anniversary of the Initial Closing Date, the Coverage and LTV Tests will be satisfied; (b) If the Additional Mortgaged Property is being added to the Collateral Pool after the first anniversary of the Initial Closing Date, the proposed Additional Mortgaged Property has a Debt Service Coverage Ratio for the Trailing 12 Month Period of not less than 140155% and a Loan to Value Ratio for the Trailing 12 Month Period of not more than 6555% and immediately after giving effect to the requested addition, the Coverage and LTV Tests will be satisfied, and in the case of any substitution effected pursuant to Section 7.04 of this Agreement, the Coverage and LTV Tests are not adversely affected after giving effect to the proposed substitution; (bc) The receipt by the Lender of the Collateral Addition Fee, except as provided in Section 16.02(b), Fee and all legal fees and expenses payable by the Borrower in connection with the Collateral Addition pursuant to Section 16.04(b); (cd) The delivery to the Title Company, with fully executed instructions directing the Title Company to file and/or record in all applicable jurisdictions, all applicable Collateral Addition Loan Documents required by the Lender, including duly executed and delivered original copies of any Security Instruments and UCC-1 Financing Statements covering the portion of the Additional Mortgaged Property comprised of personal property, and other appropriate documents, in form and substance satisfactory to the Lender and in form proper for recordation, as may be necessary in the opinion of the Lender to perfect the Lien created by the applicable additional Security Instrument, and any other Collateral Addition Loan Document creating a Lien in favor of the Lender, and the payment of all taxes, fees and other charges payable in connection with such execution, delivery, recording and filing; (de) If required by the Lender, amendments to the Notes and the Security Instruments, reflecting the addition of the Additional Mortgaged Property to the Collateral Pool and, as to any Security Instrument so amended, the receipt by the Lender of an endorsement to the Title Insurance Policy insuring the Security Instrument, amending the effective date of the Title Insurance Policy to the Closing Date and showing no additional exceptions to coverage other than the exceptions shown on the Initial Closing Date, Permitted Liens Date and other exceptions approved by the Lender; (ef) If the Title Insurance Policy for the Additional Mortgaged Property contains a Tie-In Endorsement, an endorsement to each other Title Insurance Policy containing a Tie-In Endorsement, adding a reference to the Additional Mortgaged Property; and (fg) The satisfaction of all applicable General Conditions set forth in Article XI.