Common use of Owner Representations Clause in Contracts

Owner Representations. 5.1.1. Owner warrants that Owner is the owner of the Property or has the authority to execute this Agreement and bind the true owner to this Agreement. 5.1.2. Owner is not delinquent in the payment of any property taxes, Owner’s association fees, property insurance, mortgage, or any encumbrance on or affecting the Property; Owner shall promptly notify Broker in writing if Owner becomes aware of any such delinquency while this Agreement is in effect. 5.1.3. The Property is not subject to a lis pendens or any legal action. 5.1.4. Owner represents that the Property complies with all legal requirements.