Common use of Leases; Material Agreements Clause in Contracts

Leases; Material Agreements. (a) Borrower has delivered to Lender true and complete copies of all Leases requested by Lender. No person has any possessory interest in any of the Properties or right to occupy the same except under and pursuant to the provisions of the Leases. The certified rent roll delivered to Lender as of the Closing Date (the “Rent Roll”) is true and correct in all material respects as of February 29, 2008, and since such date, there have been no changes to the Rent Roll that would have a Portfolio Material Adverse Effect, no new Major Leases have been entered into and no Major Lease has been terminated. Borrower is holding approximately $2,150,000 in respect of Tenant security deposits and is holding no security deposits with respect to Major Leases, no fixed rent has been paid more than 30 days in advance of its due date and no payments of rent are more than 30 days delinquent. Except as set forth on Schedule S, no Tenant under any of the Leases referenced in Schedule S has any remaining termination or contraction options. Except as set forth in the Leases, no Tenant has any extension or renewal options. Except as set forth in the Qualified Title Policies, with respect to the Mortgage Loan Collateral Properties, or the Leases, with respect to the Other Properties, no Tenant or other party has any option, right of first refusal or similar preferential right to purchase or lease all or any portion of any Property.

Leases; Material Agreements. (a) Borrower has delivered to Lender true and complete copies of all Leases requested by Lender. No person has any possessory interest in any of the Properties or right to occupy the same except under and pursuant to the provisions of the Leases. The certified rent roll delivered to Lender as of the Closing Date (the “Rent Roll”) is true and correct in all material respects as of February 29, 2008, and since such date, there have been no changes to the Rent Roll that would have a Portfolio Material Adverse Effect, no new Major Leases have been entered into and no Major Lease has been terminated. Borrower is holding approximately $2,150,000 150,000 in respect of Tenant security deposits and is holding no security deposits with respect to Major Leases, no fixed rent has been paid more than 30 days in advance of its due date and no payments of rent are more than 30 days delinquent. Except as set forth on Schedule SH, no Tenant under any of the Leases referenced in Schedule S H has any remaining termination or contraction options. Except as set forth in the Leases, no Tenant has any extension or renewal options. Except as set forth in the Qualified Title Policies, with respect to the Mortgage Loan Collateral Encumbered Properties, or the Leases, with respect to the Other Unencumbered Properties, no Tenant or other party has any option, right of first refusal or similar preferential right to purchase or lease all or any portion of any Property.

Leases; Material Agreements. (a) Borrower has delivered to Lender true and complete copies of all Leases requested by Lender. No person has any possessory interest in any of the Properties or right to occupy the same except under and pursuant to the provisions of the Leases. The certified rent roll delivered to Lender as of the Closing Date (the “Rent Roll”) is true and correct in all material respects as of February 29, 2008, and since such dateas of the Original Closing Date, there have been were no changes to the Rent Roll that would have had a Portfolio Material Adverse Effect, no new Major Leases have had been entered into and no Major Lease has had been terminated. As of the Original Closing Date, Borrower is holding held approximately $2,150,000 in respect of Tenant security deposits and is holding held no security deposits with respect to Major Leases, no fixed rent has had been paid more than 30 days in advance of its due date and no payments of rent are were more than 30 days delinquent. Except as set forth on Schedule S, no Tenant under any of the Leases referenced in Schedule S has had any remaining termination or contraction optionsoptions as of the Original Closing Date. Except as set forth in the Leases, no Tenant has any extension or renewal options. Except as set forth in the Qualified Title Policies, with respect to the Mortgage Loan Collateral Properties, or the Leases, with respect to the Other Properties, no Tenant or other party has any option, right of first refusal or similar preferential right to purchase or lease all or any portion of any Property.