Common use of Condominium Representations Clause in Contracts

Condominium Representations. Except as set forth on Schedule 3.36, (a) To Borrower’s actual knowledge, the Condominium has been legally and validly created pursuant to all Legal Requirements and the Condominium Documents. (b) To Borrower’s actual knowledge, Borrower has delivered to Lender (or the Title Insurance Policies disclose) a true, complete and correct copy of each of the Condominium Documents, together with true, complete and correct copies of all amendments and modifications thereto, and none of the Condominium Documents has been otherwise modified, amended or supplemented. (c) There currently exists no default or event of default under the Condominium Documents by Borrower or, to Borrower’s knowledge, by any other party thereto. Except pursuant to the Loan Documents, Borrower’s interest therein has not been assigned. There are no fees, dues, charges and assessments, whether annual, monthly, regular, special, extraordinary or otherwise, including, any “Common Expenses” (as such term is defined in the Condominium Documents) (collectively, the “Common Charges”) charged to, due or otherwise payable by Borrower or any other Person under the Condominium Documents. The Condominium Board has not established a working capital or any other similar type of reserve. To Borrower’s knowledge, there are no judgments, suits or claims pending, filed or threatened against the Condominium Board and there are no set-offs, claims, counterclaims or defenses being asserted or, after giving the requisite notice, if any, required under the Condominium Documents, capable of being asserted, for the enforcement of the obligations of any party under the Condominium Documents. The Condominium Board has the sole power and authority to act on behalf of, and bind, the Condominium. (d) Neither the Condominium Board nor any other Person has any right of first refusal or option to purchase the Individual Property subject to the Condominium Documents. (e) The Condominium Boards are not active and there are no members of any Condominium Board appointed by Borrower or any other Person. (f) With respect to each Condominium, if the Condominium Boards were active, the Condominium Board and Condominium are controlled by members thereof appointed by Borrower. (g) To the knowledge of Borrower, neither the Condominium Board nor the Condominium are party to any loan, credit agreement or other arrangement for any extension of credit, whether funded or to be funded. (h) There are no conditions of the Condominium Documents which are required to be satisfied or approvals required to be given in connection with the making of the Loan.

Condominium Representations. Except as set forth on Schedule 3.36, (a) To Borrower’s actual knowledge, the The Condominium has been legally and validly created pursuant to all Legal Requirements and the Condominium Documents. (b) To Borrower’s actual knowledge, Borrower has delivered to Lender (or the Title Insurance Policies disclose) a true, complete and correct copy of each of the Condominium Documents, together with true, complete and correct copies of all amendments and modifications thereto, and none of the . The Condominium Documents has been otherwise modified, amended or supplemented. (c) There are valid and enforceable and there currently exists no default or event of default under the Condominium Documents thereunder by Mortgage Borrower or, to Borrower’s knowledge, by any other party thereto. Except pursuant to the Loan Documents, Borrower’s interest therein has not been assigned. There are no All fees, dues, charges and assessments, whether annual, monthly, regular, special, extraordinary special or otherwise, including, any “Common ExpensesCharges” (as such term is defined in the Condominium Documents) (collectively, the “Common Charges”) charged to, due or otherwise payable by Mortgage Borrower or any other Person under to date have been fully paid. Xxxxx Xxxxxx Holdings LLC is one of the “Declarants” (as such term is defined in the Condominium Documents) and is the owner of the Units each as set forth on Schedule XIV attached hereto. No Affiliate of Borrower (other than Mortgage Borrower) owns any Units. There are currently no special or other extraordinary Common Charges pending (other than regular, monthly Common Charges). The Condominium Board has not established a working capital or any other similar type of reserve. To Borrower’s knowledge, there There are no judgments, suits or claims pending, filed or threatened against the Condominium Board and there are no set-offs, claims, counterclaims or defenses being asserted or, after giving the requisite notice, if any, required under the Condominium Documents, capable of being asserted, for the enforcement of the obligations of any party under the Condominium DocumentsAssociation. The Condominium Board has the sole power and authority to act on behalf of, and bind, the Condominium. (d) Neither the Condominium Board nor any other Person has any right of first refusal or option to purchase the Individual Property subject to the Condominium Documents. All of the members and officers of the Board are listed on Schedule XV attached hereto. The members of the Board appointed by Mortgage Borrower are designated as such on Schedule XV. The Board has the sole power and authority to act on behalf of, and bind, the Condominium. (eb) The Condominium Boards are not active and there are no members amount of any Condominium Board appointed Common Charges payable by Mortgage Borrower or any other Personon an annual basis is $0.00. (fc) With respect to each Condominium, if the Condominium Boards were active, the Condominium The Board and the Condominium are controlled by members thereof appointed by Mortgage Borrower. (g) To . Neither the knowledge of Borrower, neither the Condominium Board nor the Condominium are party to any loan, credit agreement or other arrangement for any extension of credit, whether funded or to be funded. (h) There are no conditions of the Condominium Documents which are required to be satisfied or approvals required to be given in connection with the making of the Loan.

Condominium Representations. Except as set forth on Schedule 3.36, (a) To Borrower’s actual knowledge, the Condominium has been legally and validly created pursuant to all Legal Requirements and the Condominium Documents. (b) To Borrower’s actual knowledge, Borrower has delivered to Lender (or the Title Insurance Policies disclose) a true, complete and correct copy of each of the Condominium Documents, together with true, complete and correct copies of all amendments and modifications thereto, and none of the Condominium Documents has been otherwise modified, amended or supplemented. (c) There currently exists no default or event of default under the Condominium Documents by Mortgage Borrower or, to Borrower’s knowledge, by any other party thereto. Except pursuant to the Mortgage Loan Documents, Mortgage Borrower’s interest therein has not been assigned. There are no All fees, dues, charges and assessments, whether annual, monthly, regular, special, extraordinary special or otherwise, including, any “Common Expenses” (as such term is defined in the Condominium Documents) (collectively, the “Common Charges”) charged to, which are due or otherwise and payable by Mortgage Borrower to date have been fully paid. There are currently no special or any other Person under extraordinary Common 00000000.0.XXXXXXXX Charges pending (other than regular, monthly Common Charges). Except as set forth on Schedule 4.46, the Condominium Documents. The Condominium Board has not established a working capital or any other similar type of reserve. To Borrower’s knowledge, there are no judgments, suits or claims pending, filed or threatened against the Condominium Board and there are no set-offs, claims, counterclaims or defenses being asserted or, after giving the requisite notice, if any, required under the Condominium Documents, capable of being asserted, for the enforcement of the obligations of any party under the Condominium Documents. The Condominium Board has the sole power and authority to act on behalf of, and bind, the Condominium. (d) Neither the Condominium Board nor any other Person (other than as set forth on Schedule 4.46) has any right of first refusal or option to purchase the Individual Property subject to the Condominium Documents. (e) The Condominium Boards are not active and there are no members of any the Condominium Board appointed by Mortgage Borrower or any other Personare designated as such on Schedule 4.46. (f) With The amount of Common Charges payable by Mortgage Borrower on an annual basis (i) with respect to each the Austin Condominium, if is $161,779.80, (ii) with respect to the Washingtonian Waterfront Condominium, $0.00, (iii) with respect to the Washingtonian Waterfront Commercial Association, Inc. Condominium, $112,516.68, and (iv) with respect to The Washingtonian Center Association, Inc. Condominium, $17,917.68. (g) Upon delivery of the notice required by the Condominium Boards Documents, Lender is (i) with respect to the Austin Condominium, a “Mortgagee” (as such term is defined in the Austin Condominium Documents), (ii) with respect to the Gaithersburg Condominium, a “Mortgagee”, a “First Mortgagee” and an “Institutional Lender” (as such terms are defined in the Gaithersburg Condominium Documents), (iii) with respect to the Portsmouth Condominium, a “Mortgagee” (as such term is defined in the Portsmouth Condominium Documents) and (iv) with respect to the Sugar Land Condominium, a “mortgagee” and a “First Mortgagee” (as such terms are used or defined in the applicable Sugar Land Condominium Documents). (h) All conditions of the Condominium Documents which were activerequired to be satisfied, and all approvals which were required to be given in connection with the making of the Loan, have been satisfied, given or waived. (i) (i) with respect to the Sugar Land Hotel and Conference Center Condominium, except with respect to any vote requiring the consent of a super-majority or unanimous consent pursuant to and in accordance with the related Condominium Documents, the Condominium Board and Condominium are controlled by members thereof appointed by Mortgage Borrower, (ii) with respect to the Portsmouth Condominium, the Condominium Board and the Condominium are controlled by members thereof appointed by Mortgage Borrower, so long as there is no event of default under the related Ground Lease, (iii) with respect to the Austin Condominium, the Condominium Board and Condominium are not controlled by members thereof 00000000.0.XXXXXXXX appointed by Mortgage Borrower, (iv) with respect to the Gaithersburg Condominium, the Condominium Board and Condominium are not controlled by members thereof appointed by Mortgage Borrower, and (v) with respect to the Sugar Land Condominium (other than the Sugar Land Hotel and Conference Center Condominium), the Condominium Board and Condominium are not controlled by members thereof appointed by Mortgage Borrower. (gj) To the knowledge of Borrower, neither the Condominium Board nor the Condominium are party to any loan, credit agreement or other arrangement for any extension of credit, whether funded or to be funded. (h) There are no conditions of the Condominium Documents which are required to be satisfied or approvals required to be given in connection with the making of the Loan.

Condominium Representations. Except as set forth on Schedule 3.36, (a) To Borrower’s actual knowledge, the Condominium has been legally and validly created pursuant to all Legal Requirements and the Condominium Documents. (b) To Borrower’s actual knowledge, Borrower has delivered to Lender (or the Title Insurance Policies disclose) a true, complete and correct copy of each of the Condominium Documents, together with true, complete and correct copies of all amendments and modifications thereto, and none of the Condominium Documents has been otherwise modified, amended or supplemented. (c) There currently exists no default or event of default under the Condominium Documents by Mortgage Borrower or, to Borrower’s knowledge, by any other party thereto. Except pursuant to the Mortgage Loan Documents, Mortgage Borrower’s interest therein has not been assigned. There are no All fees, dues, charges and assessments, whether annual, monthly, regular, special, extraordinary special or otherwise, including, any “Common Expenses” (as such term is defined in the Condominium Documents) (collectively, the “Common Charges”) charged to, which are due or otherwise and payable by Mortgage Borrower to date have been fully paid. There are currently no special or any other Person under extraordinary Common Charges pending (other than regular, monthly Common Charges). Except as set forth on Schedule 4.46, the Condominium Documents. The Condominium Board has not established a working capital or any other similar type of reserve. To Borrower’s knowledge, there are no judgments, suits or claims pending, filed or threatened against the Condominium Board and there are no set-offs, claims, counterclaims or defenses being asserted or, after giving the requisite notice, if any, required under the Condominium Documents, capable of being asserted, for the enforcement of the obligations of any party under the Condominium Documents. The Condominium Board has the sole power and authority to act on behalf of, and bind, the Condominium. (d) Neither the Condominium Board nor any other Person (other than as set forth on Schedule 4.46) has any right of first refusal or option to purchase the Individual Property subject to the Condominium Documents. (e) The Condominium Boards are not active and there are no members of any the Condominium Board appointed by Mortgage Borrower or any other Personare designated as such on Schedule 4.46. (f) With The amount of Common Charges payable by Mortgage Borrower on an annual basis (i) with respect to each the Austin Condominium, if is $161,779.80, (ii) with respect to the Washingtonian Waterfront Condominium, $0.00, (iii) with respect to the Washingtonian Waterfront Commercial Association, Inc. Condominium, $112,516.68, and (iv) with respect to The Washingtonian Center Association, Inc. Condominium, $17,917.68. (g) Upon delivery of the notice required by the Condominium Boards Documents, Lender is (i) with respect to the Austin Condominium, a “Mortgagee” (as such term is defined in the Austin Condominium Documents), (ii) with respect to the Gaithersburg Condominium, a “Mortgagee”, a “First Mortgagee” and an “Institutional Lender” (as such terms are defined in the 00000000.0.XXXXXXXX Gaithersburg Condominium Documents), (iii) with respect to the Portsmouth Condominium, a “Mortgagee” (as such term is defined in the Portsmouth Condominium Documents) and (iv) with respect to the Sugar Land Condominium, a “mortgagee” and a “First Mortgagee” (as such terms are used or defined in the applicable Sugar Land Condominium Documents). (h) All conditions of the Condominium Documents which were activerequired to be satisfied, and all approvals which were required to be given in connection with the making of the Loan, have been satisfied, given or waived. (i) (i) with respect to the Sugar Land Hotel and Conference Center Condominium, except with respect to any vote requiring the consent of a super-majority or unanimous consent pursuant to and in accordance with the related Condominium Documents, the Condominium Board and Condominium are controlled by members thereof appointed by Mortgage Borrower, (ii) with respect to the Portsmouth Condominium, the Condominium Board and the Condominium are controlled by members thereof appointed by Mortgage Borrower, so long as there is no event of default under the related Ground Lease, (iii) with respect to the Austin Condominium, the Condominium Board and Condominium are not controlled by members thereof appointed by Mortgage Borrower, (iv) with respect to the Gaithersburg Condominium, the Condominium Board and Condominium are not controlled by members thereof appointed by Mortgage Borrower, and (v) with respect to the Sugar Land Condominium (other than the Sugar Land Hotel and Conference Center Condominium), the Condominium Board and Condominium are not controlled by members thereof appointed by Mortgage Borrower. (gj) To the knowledge of Borrower, neither the Condominium Board nor the Condominium are party to any loan, credit agreement or other arrangement for any extension of credit, whether funded or to be funded. (h) There are no conditions of the Condominium Documents which are required to be satisfied or approvals required to be given in connection with the making of the Loan.

Condominium Representations. Except as set forth on Schedule 3.36, (a) To Borrower’s actual knowledge, the Condominium has been legally and validly created pursuant to all Legal Requirements and the Condominium Documents. (b) To Borrower’s actual knowledge, Borrower has delivered to Lender (or the Title Insurance Policies disclose) a true, correct and complete and correct copy copies of each of the Condominium Documents, together with trueand there are no other agreements, complete and correct copies of all amendments and modifications thereto, and none instruments or other documents to which Borrower is a party or by which Borrower may be bound relating to the creation and/or governance of the Condominium. The Condominium Documents has been otherwise modified, amended or supplementedare in full force and effect. (cb) There currently exists no default or event of default under the Condominium Documents by Borrower orNeither Borrower, nor, to Borrower’s knowledge, by any other party thereto. Except pursuant to the Loan DocumentsCondominium Declaration or the Bylaws is in default thereunder, Borrower’s interest therein except to the extent that such default would not reasonably be expected to result in, and has not been assigned. There are no feesresulted in, dues, charges and assessments, whether annual, monthly, regular, special, extraordinary or otherwise, including, any “Common Expenses” a Material Adverse Effect. (as such term is defined in the c) All Condominium Documents) (collectively, the “Common Charges”) charged to, due or otherwise Charges payable by Borrower or any other Person under through the Condominium Documents. The date immediately preceding the Closing Date have been paid, and to Borrower’s knowledge, the Condominium Board has not established a working capital levied any special assessments that are due and payable on or any other similar type of reserve. To Borrower’s knowledge, there are no judgments, suits or claims pending, filed or threatened against after the Condominium Board and there are no set-offs, claims, counterclaims or defenses being asserted or, after giving the requisite notice, if any, required under the Condominium Documents, capable of being asserted, for the enforcement of the obligations of any party under the Condominium Documents. The Condominium Board has the sole power and authority to act on behalf of, and bind, the Condominiumdate hereof. (d) Neither The Mortgage is a “Permitted Mortgage” and Lender is a “Permitted Mortgagee” within the Condominium Board nor any other Person has any right of first refusal or option to purchase the Individual Property subject to meaning of, and for all purposes under, the Condominium Documents, and is entitled to all of the rights and remedies granted to Permitted Mortgagees thereunder. (e) The Condominium Boards are not active and there are no Board consists of five (5) members. As of the date hereof, the members of any the Condominium Board are as follows: Xxxxxx Xxxxxxx, Xxxxxx Xxxxxxx, Xxxx Xxxxx, Xxxxx Xxxxxx and Xxxxxxx Xxx. All of such members (other than Xxxxxxx Xxx and Xxxx Xxxxx) were appointed by Borrower or any other Personand are employees of ALX, VRT, VRLP and/or one their respective subsidiaries. (f) With respect to each Condominium, if the Condominium Boards were active, the Condominium Board and Condominium are controlled by members thereof appointed by Borrower. (g) To the knowledge of Borrower, neither the Condominium Board nor the Condominium are party to any loan, credit agreement or other arrangement for any extension of credit, whether funded or to be funded. (h) There are no conditions of the Condominium Documents which are required to be satisfied or approvals required to be given in connection with the making of the Loan.

Condominium Representations. Except as set forth on Schedule 3.36, (a) To Borrower’s actual knowledge, the Condominium has been legally and validly created pursuant to all Legal Requirements and the Condominium Documents. (b) To Borrower’s actual knowledge, Borrower has delivered to Lender (or the Title Insurance Policies disclose) a true, correct and complete and correct copy copies of each of the Condominium Documents, together with trueand there are no other agreements, complete and correct copies of all amendments and modifications thereto, and none instruments or other documents to which Borrower is a party or by which Borrower may be bound relating to the creation and/or governance of the Condominium. The Condominium Documents has been otherwise modified, amended or supplementedare in full force and effect. (cb) There currently exists no default or event of default under the Condominium Documents by Borrower orNeither Borrower, nor, to Borrower’s knowledge, by any other party thereto. Except pursuant to the Loan DocumentsCondominium Declaration or the Bylaws is in default thereunder, Borrower’s interest therein except to the extent that such default would not reasonably be expected to result in, and has not been assigned. There are no feesresulted in, dues, charges and assessments, whether annual, monthly, regular, special, extraordinary or otherwise, including, any “Common Expenses” a Material Adverse Effect. (as such term is defined in the c) All Condominium Documents) (collectively, the “Common Charges”) charged to, due or otherwise Charges payable by Borrower or any other Person under through the Condominium Documents. The date immediately preceding the Closing Date have been paid, and to Borrower’s knowledge, the Condominium Board has not established a working capital levied any special assessments that are due and payable on or any other similar type of reserve. To Borrower’s knowledge, there are no judgments, suits or claims pending, filed or threatened against after the Condominium Board and there are no set-offs, claims, counterclaims or defenses being asserted or, after giving the requisite notice, if any, required under the Condominium Documents, capable of being asserted, for the enforcement of the obligations of any party under the Condominium Documents. The Condominium Board has the sole power and authority to act on behalf of, and bind, the Condominiumdate hereof. (d) Neither The Mortgage is a “Permitted Mortgage” and Lender is a “Permitted Mortgagee” within the Condominium Board nor any other Person has any right of first refusal or option to purchase the Individual Property subject to meaning of, and for all purposes under, the Condominium Documents, and is entitled to all of the rights and remedies granted to Permitted Mortgagees thereunder. (e) The Condominium Boards are not active and there are no Board consists of five (5) members. As of the date hereof, the members of any the Condominium Board are as follows: Maxxxx Xxxxxxx, Thxxxx Xxxxxxx, Chxxx Xxxxxxxx, Baxxx Xxxxxx xnd Mixxxxx Xxx. All of such members (other than Mixxxxx Xxx xnd Chxxx Xxxxxxxx) were appointed by Borrower or any other Personand are employees of Guarantor, VRT, VRLP and/or one their respective subsidiaries. (f) With respect to each Condominium, if the Condominium Boards were active, the Condominium Board and Condominium are controlled by members thereof appointed by Borrower. (g) To the knowledge of Borrower, neither the Condominium Board nor the Condominium are party to any loan, credit agreement or other arrangement for any extension of credit, whether funded or to be funded. (h) There are no conditions of the Condominium Documents which are required to be satisfied or approvals required to be given in connection with the making of the Loan.

Condominium Representations. Except as set forth on Schedule 3.36, (a) To Borrower’s actual knowledge, the Condominium has been legally and validly created pursuant to all Legal Requirements and the Condominium Documents. (b) To Borrower’s actual knowledge, Borrower has delivered to Lender (or the Title Insurance Policies disclose) a true, complete and correct copy of each of the Condominium Documents, together with true, complete and correct copies of all amendments and modifications thereto, and none of the Condominium Documents has been otherwise modified, amended or supplemented. (c) There currently exists no default or event of default under the Condominium Documents by Borrower or, to Borrower’s knowledge, by any other party thereto. Except pursuant to the Loan Documents, Borrower’s interest therein has not been assigned. There are no All fees, dues, charges and assessments, whether annual, monthly, regular, special, extraordinary special or otherwise, including, any “Common Expenses” (as such term is defined in the Condominium Documents) (collectively, the “Common Charges”) charged to, which are due or otherwise and payable by Borrower to date have been fully paid. There are currently no special or any other Person under extraordinary Common Charges pending (other than regular, monthly Common Charges). Except as set forth on Schedule 4.46, the Condominium Documents. The Condominium Board has not established a working capital or any other similar type of reserve. To Borrower’s knowledge, there are no judgments, suits or claims pending, filed or threatened against the Condominium Board and there are no set-offs, claims, counterclaims or defenses being asserted or, after giving the requisite notice, if any, required under the Condominium Documents, capable of being asserted, for the enforcement 00000000.00.XXXXXXXX of the obligations of any party under the Condominium Documents. The Condominium Board has the sole power and authority to act on behalf of, and bind, the Condominium. (d) Neither the Condominium Board nor any other Person (other than as set forth on Schedule 4.46) has any right of first refusal or option to purchase the Individual Property subject to the Condominium Documents. (e) The Condominium Boards are not active and there are no members of any the Condominium Board appointed by Borrower or any other Personare designated as such on Schedule 4.46. (f) With The amount of Common Charges payable by Borrower on an annual basis (i) with respect to each the Austin Condominium, if is $161,779.80, (ii) with respect to the Washingtonian Waterfront Condominium, $0.00, (iii) with respect to the Washingtonian Waterfront Commercial Association, Inc. Condominium, $112,516.68, and (iv) with respect to The Washingtonian Center Association, Inc. Condominium, $17,917.68. (g) Upon delivery of the notice required by the Condominium Boards Documents, Lender is (i) with respect to the Austin Condominium, a “Mortgagee” (as such term is defined in the Austin Condominium Documents), (ii) with respect to the Gaithersburg Condominium, a “Mortgagee”, a “First Mortgagee” and an “Institutional Lender” (as such terms are defined in the Gaithersburg Condominium Documents), (iii) with respect to the Portsmouth Condominium, a “Mortgagee” (as such term is defined in the Portsmouth Condominium Documents) and (iv) with respect to the Sugar Land Condominium, a “mortgagee” and a “First Mortgagee” (as such terms are used or defined in the applicable Sugar Land Condominium Documents). (h) All conditions of the Condominium Documents which were activerequired to be satisfied, and all approvals which were required to be given in connection with the making of the Loan, have been satisfied, given or waived. (i) (i) with respect to the Sugar Land Hotel and Conference Center Condominium, except with respect to any vote requiring the consent of a super-majority or unanimous consent pursuant to and in accordance with the related Condominium Documents, the Condominium Board and Condominium are controlled by members thereof appointed by Borrower. , (gii) To with respect to the knowledge of BorrowerPortsmouth Condominium, neither the Condominium Board nor and the Condominium are party controlled by members thereof appointed by Borrower, so long as there is no event of default under the related Ground Lease, (iii) with respect to any loanthe Austin Condominium, credit agreement or other arrangement for any extension of credit, whether funded or to be funded. (h) There are no conditions of the Condominium Documents which Board and Condominium are required not controlled by members thereof appointed by Borrower, (iv) with respect to be satisfied or approvals required the Gaithersburg Condominium, the Condominium Board and Condominium are not controlled by members thereof appointed by Borrower, and (v) with respect to be given in connection with the making of Sugar Land Condominium (other than the LoanSugar Land Hotel and Conference Center Condominium), the Condominium Board and Condominium are not controlled by members thereof appointed by Borrower.

Condominium Representations. Except as set forth on Schedule 3.36, (a) To Borrower’s actual knowledge, the Condominium has been legally and validly created pursuant to all Legal Requirements and the Condominium Documents. (b) To Borrower’s actual knowledge, Borrower has delivered to Lender (or the Title Insurance Policies disclose) a true, correct and complete and correct copy copies of each of the Condominium Documents, together with trueand there are no other agreements, complete instruments or other documents to which Borrower is a party or by which Borrower may be bound relating to the creation and/or governance of the Condominium. The Condominium Documents are in full force and correct copies of all amendments and modifications theretoeffect. (b) Neither Borrower, nor, to Xxxxxxxx’s knowledge, any other party to the Condominium Declaration or the Bylaws is in default thereunder, except to the extent that such default would not reasonably be expected to result in, and none of the Condominium Documents has been otherwise modifiednot resulted in, amended or supplementeda Material Adverse Effect. (c) There currently exists no default or event of default under the All Condominium Documents Charges payable by Borrower orthrough the date immediately preceding the Closing Date have been paid, and to Borrower’s knowledge, by any other party thereto. Except pursuant to the Loan Documents, Borrower’s interest therein has not been assigned. There are no fees, dues, charges and assessments, whether annual, monthly, regular, special, extraordinary or otherwise, including, any “Common Expenses” (as such term is defined in the Condominium Documents) (collectively, the “Common Charges”) charged to, due or otherwise payable by Borrower or any other Person under the Condominium Documents. The Condominium Board has not established a working capital levied any special assessments that are due and payable on or any other similar type of reserve. To Borrower’s knowledge, there are no judgments, suits or claims pending, filed or threatened against after the Condominium Board and there are no set-offs, claims, counterclaims or defenses being asserted or, after giving the requisite notice, if any, required under the Condominium Documents, capable of being asserted, for the enforcement of the obligations of any party under the Condominium Documents. The Condominium Board has the sole power and authority to act on behalf of, and bind, the Condominiumdate hereof. (d) Neither The Mortgage is a “Permitted Mortgage” and Lender is a “Permitted Mortgagee” within the Condominium Board nor any other Person has any right of first refusal or option to purchase the Individual Property subject to meaning of, and for all purposes under, the Condominium Documents, and is entitled to all of the rights and remedies granted to Permitted Mortgagees thereunder. (e) The Condominium Boards are not active and there are no Board consists of five (5) members. As of the date hereof, the members of any Condominium Board appointed by Borrower or any other Person. (f) With respect to each Condominium, if the Condominium Boards were active, the Condominium Board are as follows: Xxxxxxx Xxxxx, Xxxxxx Xxxxxxx, Xxxx Xxxxxx, Xxxxx Xxxxxx and Condominium are controlled by Xxxxxxx Xxx. All of such members thereof (other than Xxxxxxx Xxx and Xxxx Xxxxxx) were appointed by BorrowerXxxxxxxx and are employees of ALX, VRT, VRLP and/or one their respective subsidiaries. (g) To the knowledge of Borrower, neither the Condominium Board nor the Condominium are party to any loan, credit agreement or other arrangement for any extension of credit, whether funded or to be funded. (h) There are no conditions of the Condominium Documents which are required to be satisfied or approvals required to be given in connection with the making of the Loan.

Condominium Representations. Except as set forth on Schedule 3.36, (a) To Borrower’s actual knowledge, the Condominium has been legally and validly created pursuant to all Legal Requirements and the Condominium Documents. (b) To Borrower’s actual knowledge, Borrower has delivered to Lender (or the Title Insurance Policies disclose) a true, complete and correct copy of each of the Condominium Documents, together with true, complete and correct copies of all amendments and modifications thereto, and none of the Condominium Documents has been otherwise modified, amended or supplemented. (c) There currently exists no default or event of default under the Condominium Documents by Mortgage Borrower or, to Borrower’s knowledge, by any other party thereto. Except pursuant to the Mortgage Loan Documents, Mortgage Borrower’s interest therein has not been assigned. There are no All fees, dues, charges and assessments, whether annual, monthly, regular, special, extraordinary special or otherwise, including, any “Common Expenses” (as such term is defined in the Condominium Documents) (collectively, the “Common Charges”) charged to, which are due or otherwise and payable by Mortgage Borrower to date have been fully paid. There are currently no special or any other Person under extraordinary Common 00000000.0.XXXXXXXX Charges pending (other than regular, monthly Common Charges). Except as set forth on Schedule 4.46, the Condominium Documents. The Condominium Board has not established a working capital or any other similar type of reserve. To Borrower’s knowledge, there are no judgments, suits or claims pending, filed or threatened against the Condominium Board and there are no set-offs, claims, counterclaims or defenses being asserted or, after giving the requisite notice, if any, required under the Condominium Documents, capable of being asserted, for the enforcement of the obligations of any party under the Condominium Documents. The Condominium Board has the sole power and authority to act on behalf of, and bind, the Condominium. (d) Neither the Condominium Board nor any other Person (other than as set forth on Schedule 4.46) has any right of first refusal or option to purchase the Individual Property subject to the Condominium Documents. (e) The Condominium Boards are not active and there are no members of any the Condominium Board appointed by Mortgage Borrower or any other Personare designated as such on Schedule 4.46. (f) With The amount of Common Charges payable by Mortgage Borrower on an annual basis (i) with respect to each the Austin Condominium, if is $161,779.80, (ii) with respect to the Washingtonian Waterfront Condominium, $0.00, (iii) with respect to the Washingtonian Waterfront Commercial Association, Inc. Condominium, $112,516.68, and (iv) with respect to The Washingtonian Center Association, Inc. Condominium, $17,917.68. (g) Upon delivery of the notice required by the Condominium Boards Documents, Lender is (i) with respect to the Austin Condominium, a “Mortgagee” (as such term is defined in the Austin Condominium Documents), (ii) with respect to the Gaithersburg Condominium, a “Mortgagee”, a “First Mortgagee” and an “Institutional Lender” (as such terms are defined in the Gaithersburg Condominium Documents), (iii) with respect to the Portsmouth Condominium, a “Mortgagee” (as such term is defined in the Portsmouth Condominium Documents) and (iv) with respect to the Sugar Land Condominium, a “mortgagee” and a “First Mortgagee” (as such terms are used or defined in the applicable Sugar Land Condominium Documents). (h) All conditions of the Condominium Documents which were activerequired to be satisfied, and all approvals which were required to be given in connection with the making of the Loan, have been satisfied, given or waived. (i) (i) with respect to the Sugar Land Hotel and Conference Center Condominium, except with respect to any vote requiring the consent of a super-majority or unanimous consent pursuant to and in accordance with the related Condominium Documents, the Condominium Board and Condominium are controlled by members thereof appointed by Borrower. (g) To the knowledge of Mortgage Borrower, neither (ii) with respect to the Portsmouth Condominium, the Condominium Board nor and the Condominium are party controlled by members thereof appointed by Mortgage Borrower, so long as there is no event of default under the related Ground Lease, (iii) with respect to any loanthe Austin Condominium, credit agreement or other arrangement for any extension of credit, whether funded or to be funded. (h) There are no conditions of the Condominium Documents which Board and Condominium are required to be satisfied or approvals required to be given in connection with the making of the Loan.not controlled by members thereof

Condominium Representations. Except With respect to each Condominium, except as set forth on Schedule 3.36,3.24: (a) To Borrower’s actual knowledge, the Condominium has been legally and validly created pursuant to all Legal Requirements and the Condominium Documents. (b) To Borrower’s actual knowledge, Borrower Xxxxxxxx has delivered to Lender (or the applicable Title Insurance Policies disclosePolicy discloses) a true, complete and correct copy of each of the Condominium Documents, together with true, complete and correct copies of all amendments and modifications thereto, and none of the Condominium Documents has been otherwise modified, amended or supplemented. (c) There currently exists no default or event of default under the Condominium Documents by Borrower or, to BorrowerXxxxxxxx’s knowledge, by any other party thereto. Except pursuant to the Loan Documents, BorrowerXxxxxxxx’s interest therein has not been assigned. There are no fees, dues, charges and assessments, whether annual, monthly, regular, special, extraordinary or otherwise, including, any “Common Expenses” (as such term is defined in the Condominium Documents) (collectively, the “Common Charges”) charged to, due or otherwise payable by Borrower or any other Person under the Condominium Documents. The Condominium Board has not established a working capital or any other similar type of reserve. To BorrowerXxxxxxxx’s knowledge, there are no judgments, suits or claims pending, filed or threatened against the Condominium Board and there are no set-offs, claims, counterclaims or defenses being asserted or, after giving the requisite notice, if any, required under the Condominium Documents, capable of being asserted, for the enforcement of the obligations of any party under the Condominium Documents. The Condominium Board has the sole power and authority to act on behalf of, and bind, the Condominium. (d) Neither the Condominium Board nor any other Person has any right of first refusal or option to purchase the Individual Property subject to the Condominium Documents. (e) The Condominium Boards are Board is not active and there are no members of any the Condominium Board appointed by Borrower or any other Person. (f) With respect to each the Condominium, if the Condominium Boards were Board was active, the Condominium Board and Condominium are controlled by members thereof appointed by BorrowerXxxxxxxx. (g) To the knowledge of Borrower, neither the Condominium Board nor the Condominium are party to any loan, credit agreement or other arrangement for any extension of credit, whether funded or to be funded. (h) There are no conditions of the Condominium Documents which are required to be satisfied or approvals required to be given in connection with the making of the Loan.

Condominium Representations. Except as set forth on Schedule 3.36,: (a) To Borrower’s actual knowledge, the Condominium has been legally and validly created pursuant to all Legal Requirements and the Condominium Documents. (b) To Borrower’s actual knowledge, Borrower has delivered to Lender (or the applicable Title Insurance Policies disclosePolicy discloses) a true, complete and correct copy of each of the Condominium Documents, together with true, complete and correct copies of all amendments and modifications thereto, and none of the Condominium Documents has been otherwise modified, amended or supplemented. (c) There currently exists no default or event of default under the Condominium Documents by Borrower or, to Borrower’s knowledge, by any other party thereto. Except pursuant to the Loan Documents, Borrower’s interest therein has not been assigned. There are no fees, dues, charges and assessments, whether annual, monthly, regular, special, extraordinary or otherwise, including, any “Common Expenses” (as such term is defined in the Condominium Documents) (collectively, the “Common Charges”) charged to, due or otherwise payable by Borrower or any other Person under the Condominium Documents. The Condominium Board has not established a working capital or any other similar type of reserve. To Borrower’s knowledge, there are no judgments, suits or claims pending, filed or threatened against the Condominium Board and there are no set-offs, claims, counterclaims or defenses being asserted or, after giving the requisite notice, if any, required under the Condominium Documents, capable of being asserted, for the enforcement of the obligations of any party under the Condominium Documents. The Condominium Board has the sole power and authority to act on behalf of, and bind, the Condominium. (d) Neither the Condominium Board nor any other Person has any right of first refusal or option to purchase the Individual Property subject to the Condominium Documents. (e) The Condominium Boards are Board is not active and there are no members of any the Condominium Board appointed by Borrower or any other Person. (f) With respect to each the Condominium, if the Condominium Boards were Board was active, the Condominium Board and Condominium are controlled by members thereof appointed by Borrower. (g) To the knowledge of Borrower, neither the Condominium Board nor the Condominium are party to any loan, credit agreement or other arrangement for any extension of credit, whether funded or to be funded. (h) There are no conditions of the Condominium Documents which are required to be satisfied or approvals required to be given in connection with the making of the Loan.