Condominium Obligations Clause Samples

Condominium Obligations. Borrower will perform all of Borrower’s obligations under the Condominium Project’s Constituent Documents. The “Constituent Documents” are the: (i) Declaration or any other document which creates the Condominium Project; (ii) by-laws; (iii) code of regulations; and (iv) other equivalent documents. Borrower will promptly pay, when due, all dues and assessments imposed pursuant to the Constituent Documents.

Condominium Obligations. You must comply with all of your obligations under condominium law and the condominium rules. You must give us any proof of compliance that we request. You must not do anything that materially increases your obligations under condominium law and the condominium rules. If we ask, you must exercise your rights to have the managing body, or holders of other units, comply with their obligations under condominium law and the condominium rules.

Condominium Obligations. Except as hereinafter set forth, to the extent that any Condominium Board is responsible under the Condominium Documents to provide utilities or service to the Unit or to repair or restore the Common Elements, the Unit and/or the Sub-Sub-subleased Premises or any appurtenance thereto, or to take any other action which the Condominium Board is required to take under the Condominium Documents (each, a “Condominium Obligation”), Sub-Sub-sublandlord shall use its diligent good faith efforts to cause Sub-Sublandlord to cause Sublandlord to cause Landlord, at Landlord’s expense (which shall not be reimbursable by way of Operating Expenses), to cause such Condominium Board to comply with the same but neither Landlord, Sublandlord nor Sub-sublandlord shall have any obligation to provide any Condominium Obligation nor shall Landlord, Sublandlord, Sub-sublandlord or Sub-Sub-sublandlord have any liability to Sub-Sub-subtenant for the failure of any Condominium Board to provide or comply with the Condominium Obligations unless Landlord or a Landlord Entity is in control of such Condominium Board, in which event Landlord shall be liable for and shall be responsible for the performance of such Condominium Obligation. Except as expressly set forth in this Sub-Sub-sublease, neither Landlord, Sublandlord, Sub-sublandlord nor Sub-Sub-sublandlord shall have liability to Sub-Sub-subtenant for any damage which may arise, nor shall Sub-Sub-subtenant’s obligations hereunder be diminished by reason of, (i) the failure of any Condominium Board to keep, observe or perform any of its obligations pursuant to the terms of the Condominium Documents, or (ii) the acts, omissions or negligence of any Condominium Board, its agents, contractors, or employees. Neither Sub-Sub-sublandlord nor Sub-Sub-subtenant shall do anything that would constitute a default under the Condominium Documents or omit to do anything that such party is obligated to do under the terms of this Sub-Sub-sublease or the Sub-sublease so as to cause there to be a default under the Condominium Documents, or cause the other to incur any expense or liability under the Condominium Documents (and, if either party shall cause the other to incur any such expense in violation hereof, the causing party shall reimburse the other within thirty (30) days after demand).

Condominium Obligations. 11 (a) The Mortgagor shall fully and faithfully perform each and every obligation on the part the Mortgagor to be performed in connection with (i) the declaration establishing a plan for condominium ownership for the premises of which the Mortgaged Property forms a part, (ii) the by-laws of the Condominium Association and (iii) the rules and regulations promulgated by the board of managers or other executive body of the Condominium Association from time to time, and all other instruments of any nature affecting the Mortgaged Property from time to time, as the same may be amended from time to time (collectively, the “Condominium Documents”); 11 Include this Paragraph 53 only if mortgage covers one or more condominium units. (b) The Mortgagor will not, without obtaining the prior written consent of Mortgagee, initiate, join in or consent to any amendment of any kind to the Condominium Documents; and (c) The Mortgagor shall cause the Condominium Association to name the Mortgagee as first mortgagee and loss payee to the Mortgaged Property under the master condominium insurance policy maintained by the Condominium Association.

Condominium Obligations. Following the Building Conversion Date, Borrower shall perform or cause to be performed all of Borrower’s obligations and the obligations of the Association under the Declaration all with respect to any of the applicable Project’s Constituent Documents and under the Condominium Act. The “Constituent Documents” are the: (a) the Declaration; (b) the articles of incorporation and by-laws of the Association; and (c) all documents related to the creation, management and operation of the Project following Conversion. Borrower shall promptly pay when due, all dues and assessments imposed pursuant to the Constituent Documents.

Condominium Obligations. The Condominium and the Units have been validly formed under all applicable laws, rules and regulations and are in compliance with same, and Seller is current on all of its obligations, and to Seller’s knowledge, Tenant is current on all of its obligations, under the Condominium Documents, including the payment of taxes and assessments, if any, with respect to the Units, and to Seller’s knowledge, there exist no defaults under the Condominium Documents and no events or omissions which, with the passage of time or the giving of notice or both, would constitute a default under the Condominium Documents by either Seller or Tenant. The representations and warranties made in this Agreement by Seller shall be continuing and shall be deemed remade in all material respects by Seller as of the Closing Date, with the same force and effect as if made on, and as of, such date. All representations and warranties made in this Agreement by Seller shall survive the Closing for a period of three (3) years (the “Limitation Period”), and upon expiration thereof shall be of no further force or effect except to the extent that with respect to any particular alleged breach, Purchaser gives Seller written notice prior to the expiration of said three (3) year period of such alleged breach with reasonable detail as to the nature of such breach. Notwithstanding anything to the contrary contained in this Agreement, there shall be no survival limitation with respect to acts involving fraud or intentional misrepresentation on behalf of Seller. If, subject to the terms, conditions and applicable limitations provided herein: (a) Purchaser makes a claim against Seller with regard to a representation or warranty which expressly survives Closing, and (b) Purchaser obtains a final and non-appealable judgment against Seller which remains unpaid for a period of thirty (30) days, then Seller agrees that Purchaser shall have the right to trace the Purchase Price to the extent necessary to satisfy such claim. Seller acknowledges and agrees that Purchaser has relied and has the right to rely upon the foregoing in connection with Purchaser’s consummation of the transaction set forth in this Agreement. Subject to the immediately preceding paragraph, Seller hereby agrees to indemnify, protect, defend (through attorneys reasonably acceptable to Purchaser) and hold harmless Purchaser and its subsidiaries, affiliates, officers, directors, agents, employees, successors and assigns from and against any a...

Condominium Obligations. Borrower shall perform or cause to be performed all of Borrower’s obligations and the obligations of the Association under the Constituent Documents and the Condominium Act. Borrower shall promptly pay when due, all dues and assessments imposed pursuant to the Constituent Documents.

Condominium Obligations. Borrower shall perform all of Borrower's obligations, both as declarant and as an individual condominium unit owner/timeshare owner, under the Declaration and Timeshare Plan. Borrower shall promptly pay, when due, all dues and assessments imposed pursuant to the Declaration.

Condominium Obligations. Borrower shall cause Mortgage Borrower to perform or cause to be performed all of Mortgage Borrower’s obligations and the obligations of the Association under the Declaration all with respect to any of the applicable Project’s Constituent Documents and under the Condominium Act. The “Constituent Documents” are the: (a) the Public Offering Statement; (b) the Declaration; (c) the articles of incorporation and by-laws of the Association; and (c) all documents related to the creation, management and operation of the Project by the Association. Borrower shall cause Mortgage Borrower to promptly pay when due, all dues and assessments imposed pursuant to the Constituent Documents.