Existing Loan. Seller represents and warrants that the Existing Loan is the only indebtedness secured by the Property and that the information contained on Exhibit H is true, correct and complete. Neither Seller nor any guarantor is in default or breach of any provisions of the documents evidencing the Existing Loan and no event or circumstance has occurred or exists which but for the passage of time would be a default under the Existing Loan. At Closing, Buyer shall, at Buyer’s expense, pay off the Existing Loan. Seller shall cooperate with Buyer in Buyer’s efforts related to the pay off of the Existing Loan including executing such applications, certificates and other documents required by the Lender and providing any information required by the Lender in connection with the pay off of the Existing Loan.
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Samples: Purchase Contract (Apple REIT Eight, Inc.), Purchase Contract (Apple REIT Eight, Inc.), Purchase Contract (Apple REIT Eight, Inc.)
Existing Loan. Seller represents and warrants that the Existing Loan is the only indebtedness secured by the Property and that the information contained on Exhibit H is true, correct and complete. Neither Seller nor any guarantor is in default or breach of any provisions of the documents evidencing the Existing Loan and no event or circumstance has occurred or exists which but for the passage of time would be a default under the Existing Loan. At Closing, Buyer shall, at Buyer’s expense, pay off assume the Existing Loan. Seller shall cooperate with Buyer in Buyer’s efforts related to the pay off assumption of the Existing Loan including executing such applications, certificates and other documents required by the Lender and providing any information required by the Lender in connection with the pay off assumption of the Existing Loan.
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