Common use of Property Agreements Clause in Contracts

Property Agreements. (i) Borrower has delivered to Lender true, correct and complete copies of all Property Agreements of record or which could bind any owner of the Property other than Borrower. (ii) No Property Agreement provides any party with the right to obtain a lien or encumbrance upon the Property superior to the lien of this Security Instrument. (iii) No default exists or with the passing of time or the giving of notice or both would exist under any Property Agreement which would, individually or in the aggregate, have a Material Adverse Effect. (iv) Borrower has not received or given any written communication which alleges that a default exists or, with the giving of notice or the lapse of time, or both, would exist under the provisions of any Property Agreement. (v) No condition currently exists whereby Borrower or any future owner of the Property may be required to purchase any other parcel of land which is subject to any Property Agreement or which gives any Person a right to purchase, or right of first refusal with respect to, the Property. (vi) To the best knowledge of Borrower, no offset or any right of offset exists respecting continued contributions to be made by any party to any Property Agreement except as expressly set forth therein. Except as previously disclosed to Lender in writing, no material exclusions or restrictions on the utilization, leasing or improvement of the Property (including non-compete agreements) exists in any Property Agreement. (vii) Except as previously disclosed in writing to Lender, all work, if any, required to be performed by Borrower prior to the date hereof under each of the Property Agreements has been substantially performed, all contributions to be made by Borrower to any party to such Property Agreements have been made, and all other conditions to such party’s obligations thereunder have been satisfied.

Property Agreements. (i) Borrower has delivered to Lender true, correct and complete copies of all Property Agreements of record or which could bind any owner of the Property other than BorrowerAgreements. (ii) No Property Agreement provides any party with the right to obtain a lien or encumbrance upon the Property superior to the lien of this Security Instrument. (iii) No default exists or with the passing of time or the giving of notice or both would exist under any Property Agreement which would, individually or in the aggregate, have a Material Adverse Effect. (iv) Borrower has not received or given any written communication which alleges that a default exists or, with the giving of notice or the lapse of time, or both, would exist under the provisions of any Property Agreement. (v) No condition currently exists whereby Borrower or any future owner of the Property may be required to purchase any other parcel of land which is subject to any Property Agreement or which gives any Person a right to purchase, or right of first refusal with respect to, the PropertyProperty other than set forth in the Space Leases. (vi) To the best knowledge of Borrower, no offset or any right of offset exists respecting continued contributions to be made by any party to any Property Agreement except as expressly set forth therein. Except as previously disclosed to Lender in writing, no material exclusions or restrictions on the utilization, leasing or improvement of the Property (including non-compete agreements) exists in any Property Agreement. (vii) Except as previously disclosed All “pre-opening” requirements contained in writing to Lenderall Property Agreements (including, but not limited to, all off-site and on-site construction requirements), if any, have been fulfilled, and, to the best of Borrower’s knowledge, no condition now exists whereby any party to any such Property Agreement could refuse to honor its obligations thereunder. (viii) All work, if any, required to be performed by Borrower prior to the date hereof under each of the Property Agreements has been substantially performed, all contributions to be made by Borrower to any party to such Property Agreements have been made, and all other conditions to such party’s obligations thereunder have been satisfied.

Property Agreements. (i) Borrower has delivered to Lender true, correct and complete copies of all Property Agreements of record or which could bind any owner of the Property other than BorrowerAgreements. (ii) No Property Agreement provides any party with the right to obtain a lien or encumbrance upon the Property superior to the lien of this Security Instrument. (iii) No default exists or with the passing of time or the giving of notice or both would exist under any Property Agreement which would, individually or in the aggregate, have a Material Adverse Effect. (iv) Borrower has not received or given any written communication which alleges that a default exists or, with the giving of notice or the lapse of time, or both, would exist under the provisions of any Property Agreement. (v) No condition currently exists whereby Borrower or any future owner of the Property may be required to purchase any other parcel of land which is subject to any Property Agreement or which gives any Person a right to purchase, or right of first refusal with respect to, the Property. (vi) To the best knowledge of Borrower, no offset or any right of offset exists respecting continued contributions to be made by any party to any Property Agreement except as expressly set forth therein. Except as previously disclosed to Lender in writing, no material exclusions or restrictions on the utilization, leasing or improvement of the Property (including non-compete agreements) exists in any Property Agreement. (vii) Except as previously disclosed All “pre-opening” requirements contained in writing to Lenderall Property Agreements (including, but not limited to, all off-site and on-site construction requirements), if any, have been fulfilled in all material respects, and, to the best of Borrower’s knowledge, no condition now exists which would permit any party to any such Property Agreement to refuse to honor its obligations thereunder in accordance with the terms thereof. (viii) All work, if any, required to be performed by Borrower prior to the date hereof under each of the Property Agreements has been substantially performed, all contributions to be made by Borrower to any party to such Property Agreements have been made, and all other conditions to such party’s obligations thereunder have been satisfiedsatisfied in all material respects.

Property Agreements. (i) Borrower has delivered to Lender true, correct and complete copies of all Property Agreements of record or which could bind any owner of the Property other than BorrowerAgreements. (ii) No Property Agreement provides any party with the right to obtain a lien or encumbrance upon the Property superior to the lien of this Security Instrument. (iii) No default exists or with the passing of time or the giving of notice or both would exist under any Property Agreement which would, individually or in the aggregate, have a Material Adverse Effect. (iv) Borrower has not received or given any written communication which alleges that a default exists or, with the giving of notice or the lapse of time, or both, would exist under the provisions of any Property Agreement. (v) No condition currently exists whereby Borrower or any future owner of the Property may be required to purchase any other parcel of land which is subject to any Property Agreement or which gives any Person a right to purchase, or right of first refusal with respect to, the Property. (vi) To the best knowledge of Borrower, no offset or any right of offset exists respecting continued contributions to be made by any party to any Property Agreement except as expressly set forth therein. Except as previously disclosed to Lender in writing, no material exclusions or restrictions on the utilization, leasing or improvement of the Property (including non-compete agreements) exists in any Property Agreement. (vii) Except as previously disclosed All “pre-opening” requirements contained in writing to Lenderall Property Agreements (including, but not limited to, all off-site and on-site construction requirements), if any, have been fulfilled, and, to the best of Borrower’s knowledge, no condition now exists whereby any party to any such Property Agreement could refuse to honor its obligations thereunder. (viii) All work, if any, required to be performed by Borrower prior to the date hereof under each of the Property Agreements has been substantially performed, all contributions to be made by Borrower to any party to such Property Agreements have been made, and all other conditions to such party’s obligations thereunder have been satisfied.

Property Agreements. (i) Borrower Mortgagor has delivered to Lender true, correct and complete copies of all Property Agreements of record or which could bind any owner of the Property other than BorrowerAgreements. (ii) No Property Agreement provides any party with the right to obtain a lien or encumbrance upon the Property superior to the lien of this Security Instrument. (iii) No To the best of Mortgagor’s knowledge, no default exists or with the passing of time or the giving of notice or both would exist under any Property Agreement which would, individually or in the aggregate, have a Material Adverse Effect. (iv) Borrower Mortgagor has not received or given any written communication which alleges that a default exists or, with the giving of notice or the lapse of time, or both, would exist under the provisions of any Property Agreement. (v) No condition currently exists whereby Borrower Mortgagor or any future owner of the Property may be required to purchase any other parcel of land which is subject to any Property Agreement or which gives any Person a right to purchase, or right of first refusal with respect to, the Property. (vi) To the best knowledge of BorrowerMortgagor, no offset or any right of offset exists respecting continued contributions to be made by any party to any Property Agreement except as expressly set forth therein. Except as previously disclosed to Lender in writing, no material exclusions or restrictions on the utilization, leasing or improvement of the Property (including non-compete agreements) exists in any Property Agreement. (vii) All “pre-opening” requirements contained in all Property Agreements (including, but not limited to, all off-site and on-site construction requirements), if any, have been fulfilled, and, to the best of Mortgagor’s knowledge, no condition now exists whereby any party to any such Property Agreement could refuse to honor its obligations thereunder. (viii) Except as previously disclosed in writing to Lender, all work, if any, required to be performed by Borrower prior to the date hereof Mortgagor under each of the Property Agreements has been substantially performed, all contributions to be made by Borrower Mortgagor to any party to such Property Agreements have been made, and all other material conditions to such party’s obligations thereunder have been satisfied.

Property Agreements. (i) Borrower has has, as of the date hereof, delivered to Lender true, correct and complete copies of all material Property Agreements of record or which could bind any owner of the Property other than BorrowerAgreements. (ii) No Property Agreement provides any party with the right to obtain a lien or encumbrance upon the Property a Project superior to the lien of this Security Instrumentthe applicable Mortgage. (iii) No default by Borrower (or, to Borrower’s knowledge, by other parties thereto) exists or with the passing of time or the giving of notice or both would exist under any Property Agreement which would, individually or in the aggregate, have a Material Adverse Effect. (iv) Borrower has not received or given any written communication which alleges that a default exists or, with the giving of notice or the lapse of time, or both, would exist under the provisions of any Property Agreement. (v) No condition currently exists whereby Borrower or any future owner of the Property a Project may be required to purchase any other parcel of land which is subject to any Property Agreement or which gives any Person a right to purchase, or right of first refusal with respect to, the Propertya Project. (vi) To the best knowledge of Borrower, no offset or any right of offset exists respecting continued contributions to be made by any party to any Property Agreement except as expressly set forth therein. Except as previously disclosed to Lender in writing, no material exclusions or restrictions on the utilization, leasing or improvement of the Property any Project (including non-non compete agreements) exists exist in any Property Agreement. (vii) Except as previously disclosed All “pre opening” requirements contained in writing to Lenderall Property Agreements (including, but not limited to, all off site and on site construction requirements), if any, have been fulfilled, and, to the best of Borrower’s knowledge, no condition now exists whereby any party to any such Property Agreement could refuse to honor its obligations thereunder. (viii) All work, if any, required to be performed by Borrower prior to the date hereof under each of the Property Agreements has been substantially performed, all contributions to be made by Borrower to any party to such Property Agreements have been made, and all other conditions to such party’s obligations thereunder have been satisfied.

Property Agreements. (i) Borrower has delivered to Lender true, correct and complete copies of all Property Agreements of record or which could bind any owner of the Property other than BorrowerAgreements. (ii) No Property Agreement provides any party with the right to obtain a lien or encumbrance upon the Property superior to the lien of this Security Instrument. (iii) No To the best of Borrower’s knowledge, no default exists or with the passing of time or the giving of notice or both would exist under any Property Agreement which would, individually or in the aggregate, have a Material Adverse Effect. (iv) Borrower has not received or given any written communication which alleges that a default exists or, with the giving of notice or the lapse of time, or both, would exist under the provisions of any Property Agreement. (v) No condition currently exists whereby Borrower or any future owner of the Property may be required to purchase any other parcel of land which is subject to any Property Agreement or which gives any Person a right to purchase, or right of first refusal with respect to, the Property. (vi) To the best knowledge of Borrower, no offset or any right of offset exists respecting continued contributions to be made by any party to any Property Agreement except as expressly set forth therein. Except as previously disclosed to Lender in writing, no material exclusions or restrictions on the utilization, leasing or improvement of the Property (including non-compete agreements) exists in any Property Agreement. (vii) All “pre-opening” requirements contained in all Property Agreements (including, but not limited to, all off-site and on-site construction requirements), if any, have been fulfilled, and, to the best of Borrower’s knowledge, no condition now exists whereby any party to any such Property Agreement could refuse to honor its obligations thereunder. (viii) Except as previously disclosed in writing to Lender, all work, if any, required to be performed by Borrower prior to the date hereof under each of the Property Agreements has been substantially performed, all contributions to be made by Borrower to any party to such Property Agreements have been made, and all other material conditions to such party’s obligations thereunder have been satisfied.

Property Agreements. (i) Borrower Mortgagor has delivered to Lender Mortgagee true, correct and complete copies of all Property Agreements of record or which could bind any owner of the Property other than BorrowerAgreements. (ii) No Property Agreement provides any party with the right to obtain a lien or encumbrance upon the Mortgaged Property superior to the lien of this Security InstrumentMortgage. (iii) No default exists or with the passing of time or the giving of notice or both would exist under any Property Agreement which would, individually or in the aggregate, have a Material Adverse Effect. (iv) Borrower Other than late payment notices sent in the ordinary course of business, Mortgagor has not received or given any written communication which alleges that a default exists or, with the giving of notice or the lapse of time, or both, would exist under the provisions of any Property Agreement. (v) No condition currently exists whereby Borrower Mortgagor or any future owner of the Mortgaged Property may be required to purchase any other parcel of land which is subject to any Property Agreement or which gives any Person a right to purchase, or right of first refusal with respect to, the Mortgaged Property. (vi) To the best knowledge of BorrowerMortgagor, no offset or any right of offset exists respecting continued contributions to be made by any party to any Property Agreement except as expressly set forth therein. Except as previously disclosed to Lender Mortgagee in writing, no material exclusions or restrictions on the utilization, leasing or improvement of the Mortgaged Property (including non-compete agreements) exists in any Property Agreement. (vii) Except as previously disclosed All "pre-opening" requirements contained in writing to Lenderall Property Agreements (including, but not limited to, all off-site and on-site construction requirements), if any, have been fulfilled, and, to the best of Mortgagor's knowledge, no condition now exists whereby any party to any such Property Agreement could refuse to honor its obligations thereunder. (viii) All work, if any, required to be performed by Borrower prior to the date hereof Mortgagor under each of the Property Agreements has been substantially performed, all contributions to be made by Borrower Mortgagor to any party to such Property Agreements have been made, and all other conditions to such party’s 's obligations thereunder have been satisfied.

Property Agreements. (i) Borrower has delivered to Lender true, correct and complete copies of all Property Agreements of record or which could bind any owner of the Property other than BorrowerAgreements. (ii) No Property Agreement provides any party with the right to obtain a lien or encumbrance upon the Property superior to the lien of this Security Instrument. (iii) No default exists or with the passing of time or the giving of notice or both would exist under any Property Agreement which would, individually or in the aggregate, have a Material Adverse Effect. (iv) Borrower has not received or given any written communication which alleges that a default exists or, with the giving of notice or the lapse of time, or both, would exist under the provisions of any Property Agreement. (v) No condition currently exists whereby Borrower or any future owner of the Property may be required to purchase any other parcel of land which is subject to any Property Agreement or which gives any Person a right to purchase, or right of first refusal with respect to, the Property. (vi) To the best knowledge of Borrower, no offset or any right of offset exists respecting continued contributions to be made by any party to any Property Agreement except as expressly set forth therein. Except as previously disclosed to Lender in writing, no material exclusions or restrictions on the utilization, leasing or improvement of the Property (including non-compete agreements) exists in any Property Agreement. (vii) Except as previously disclosed in writing To the best of Xxxxxxxx’s knowledge, no condition now exists whereby any party to Lender, all any such Property Agreement could refuse to honor its obligations thereunder. (viii) All work, if any, required to be performed by Borrower prior to the date hereof under each of the Property Agreements has been substantially performed, all contributions to be made by Borrower to any party to such Property Agreements have been made, and all other conditions to such party’s obligations thereunder have been satisfied.

Property Agreements. (i) Borrower has Borrowers have delivered to Lender true, correct and complete copies of all material Property Agreements of record or which could bind any owner of the Property other than BorrowerAgreements. (ii) No Property Agreement provides any party with the right to obtain a lien or encumbrance upon the any Property superior to the lien of this Security Instrumentthe Mortgage encumbering such Property. (iii) No Borrower nor any other party to any Property Agreement affecting a Property is in default exists of its monetary or other material obligations thereunder beyond any notice and applicable grace period and no event has occurred which, with the passing of time or the giving of notice or both the passage of time, or both, would exist under constitute such a monetary default or, to the best knowledge of Borrower after due inquiry, any Property Agreement such other default, in each case which would, individually or in the aggregate, would have a Material Adverse Effect. (iv) Borrower has Borrowers have not received or given any written communication which alleges that a material default exists or, with the giving of notice or the lapse of time, or both, would exist under the provisions of any Property AgreementAgreement except for such defaults which have been cured. (v) No condition currently exists whereby a Borrower or any future owner of the a Property may be required to purchase any other parcel of land which is subject to any Property Agreement or which gives any Person a right to purchase, or right of first refusal with respect to, the such Property. (vi) To the best knowledge of BorrowerBorrowers, no offset or any right of offset exists respecting continued contributions to be made by any party to any Property Agreement except as expressly set forth therein. Except as previously disclosed to Lender in writing, no material exclusions or restrictions on the utilization, leasing or improvement of the any Property (including non-compete agreements) exists in any Property Agreement. (vii) Except as previously disclosed to Lender in writing writing, all "pre-opening" requirements contained in all Property Agreements (including, but not limited to, all off-site and on-site construction requirements), if any, have been fulfilled and, to Lenderthe best of Borrowers' knowledge, no condition now exists whereby any party to any such Property Agreement could refuse to honor its obligations thereunder if such refusal is reasonably likely to have a Material Adverse Effect. (viii) Except as previously disclosed to Lender in writing, all work, if any, required to be performed by a Borrower prior to the date hereof under each of the Property Agreements has been substantially performed, all contributions to be made by a Borrower to any party to such Property Agreements have been made, and all other conditions to such party’s 's obligations thereunder have been satisfiedsatisfied if the failure to so perform, contribute or satisfy is reasonably likely to have a Material Adverse Effect.

Property Agreements. (i) Borrower has delivered to Lender true, correct and complete copies of all material Property Agreements of record or which could bind any owner of the Property other than BorrowerAgreements. (ii) No Except as set forth in the title insurance policy insuring the lien of this Security Instrument, no Property Agreement provides any party with the right to obtain a lien or encumbrance upon the Property superior to the lien of this Security Instrument. (iii) No default exists or with the passing of time or the giving of notice or both would exist under any Property Agreement which would, individually or in the aggregate, have a Material Adverse Effect. (iv) Borrower has not received or given any written communication which alleges that a default exists or, with the giving of notice or the lapse of time, or both, would exist under the provisions of any Property Agreement. (v) No condition currently exists whereby Borrower or any future owner of the Property may be required to purchase any other parcel of land which is subject to any Property Agreement or which gives any Person a right to purchase, or right of first refusal with respect to, the Property. (vi) To the best knowledge of Borrower, no offset or any right of offset exists respecting continued contributions to be made by any party to any Property Agreement except as expressly set forth therein. Except as previously disclosed to Lender in writing, no material exclusions or restrictions on the utilization, leasing or improvement of the Property (including non-compete agreements) exists in any Property Agreement. (vii) Except as previously disclosed in writing to Lender, all All work, if any, required to be performed by Borrower prior to the date hereof under each of the Property Agreements as of the date hereof has been substantially performed, all contributions to be made by Borrower to any party to such Property Agreements as of the date hereof have been made, and all other conditions to such party’s obligations thereunder have been satisfied.

Property Agreements. (i) Borrower has Borrowers have delivered to Lender true, correct and complete copies of all material Property Agreements of record or which could bind any owner of the Property other than BorrowerAgreements. (ii) No Property Agreement provides any party with the right to obtain a lien or encumbrance upon the any Property superior to the lien of this Security Instrumentthe Mortgage encumbering such Property. (iii) No Borrower nor any other party to any Property Agreement affecting a Property is in default exists of its monetary or other material obligations thereunder beyond any notice and applicable grace period and no event has occurred which, with the passing of time or the giving of notice or both the passage of time, or both, would exist under constitute such a monetary default or, to the knowledge of Borrower, any Property Agreement such other default, in each case which would, individually or in the aggregate, would have a Material Adverse Effect. (iv) Borrower has Borrowers have not received or given any written communication which alleges that a material default exists or, with the giving of notice or the lapse of time, or both, would exist under the provisions of any Property AgreementAgreement except for such defaults which have been cured. (v) No condition currently exists whereby a Borrower or any future owner of the a Property may be required to purchase any other parcel of land which is subject to any Property Agreement or which gives any Person a right to purchase, or right of first refusal with respect to, the such Property. (vi) To the best knowledge of BorrowerBorrowers, no offset or any right of offset exists respecting continued contributions to be made by any party to any Property Agreement except as expressly set forth therein. Except as previously disclosed to Lender in writing, no material exclusions or restrictions on the utilization, leasing or improvement of the any Property (including non-compete agreements) exists in any Property Agreement. (vii) Except as previously disclosed to Lender in writing writing, all "pre-opening" requirements contained in all Property Agreements (including, but not limited to, all off-site and on-site construction requirements), if any, have been fulfilled and, to Lenderthe best of Borrowers' knowledge, no condition now exists whereby any party to any such Property Agreement could refuse to honor its obligations thereunder if such refusal is reasonably likely to have a Material Adverse Effect. (viii) Except as previously disclosed to Lender in writing, all work, if any, required to be performed by a Borrower prior to the date hereof under each of the Property Agreements has been substantially performed, all contributions to be made by a Borrower to any party to such Property Agreements have been made, and all other conditions to such party’s 's obligations thereunder have been satisfiedsatisfied if the failure to so perform, contribute or satisfy is reasonably likely to have a Material Adverse Effect.

Property Agreements. (i) Borrower has delivered to Lender true, correct and complete copies of all Property Agreements of record or which could bind any owner of the Property other than BorrowerAgreements. (ii) No Property Agreement provides any party with the right to obtain a lien or encumbrance upon the Property superior to the lien of this Security Instrument. (iii) No default exists or with the passing of time or the giving of notice or both would exist under any Property Agreement which would, individually or in the aggregate, have a Material Adverse Effect. (iv) Borrower has not received or given any written communication which alleges that a default exists or, with the giving of notice or the lapse of time, or both, would exist under the provisions of any Property Agreement. (v) No condition currently exists whereby Borrower or any future owner of the Property may be required to purchase any other parcel of land which is subject to any Property Agreement or which gives any Person a right to purchase, or right of first refusal with respect to, the Property. (vi) To the best knowledge of Borrower, no offset or any right of offset exists respecting continued contributions to be made by any party to any Property Agreement except as expressly set forth therein. Except as previously disclosed to Lender in writing, no material exclusions or restrictions on the utilization, leasing or improvement of the Property (including non-compete agreements) exists in any Property Agreement. (vii) Except as previously disclosed All "pre-opening" requirements contained in writing to Lenderall Property Agreements (including, but not limited to, all off-site and on-site construction requirements), if any, have been fulfilled, and, to the best of Borrower's knowledge, no condition now exists whereby any party to any such Property Agreement could refuse to honor its obligations thereunder. (viii) All work, if any, required to be performed by Borrower prior to the date hereof under each of the Property Agreements has been substantially performed, all contributions to be made by Borrower to any party to such Property Agreements have been made, and all other conditions to such party’s 's obligations thereunder have been satisfied.

Property Agreements. (i) Borrower Mortgagor has delivered to Lender Mortgagee true, correct and complete copies of all material Property Agreements of record or which could bind any owner of the Property other than BorrowerAgreements. (ii) No Property Agreement provides any party with the right to obtain a lien or encumbrance upon the Mortgaged Property superior to the lien of this Security InstrumentMortgage. (iii) No default exists or with the passing of time or the giving of notice or both would exist under any Property Agreement which would, individually or in the aggregate, have a Material Adverse Effect. (iv) Borrower Mortgagor has not received or given any written communication which alleges that a default exists or, with the giving of notice or the lapse of time, or both, would exist under the provisions of any Property Agreement. (v) No condition currently exists whereby Borrower Mortgagor or any future owner of the Mortgaged Property may be required to purchase any other parcel of land which is subject to any Property Agreement or which gives any Person a right to purchase, or right of first refusal with respect to, the Mortgaged Property. (vi) To the best knowledge of BorrowerMortgagor, no offset or any right of offset exists respecting continued contributions to be made by any party to any Property Agreement except as expressly set forth therein. Except as previously disclosed to Lender Mortgagee in writing, no material exclusions or restrictions on the utilization, leasing or improvement of the Mortgaged Property (including non-compete agreements) exists in any Property Agreement. (vii) Except as previously disclosed All "pre-opening" requirements contained in writing to Lenderall Property Agreements (including, but not limited to, all off-site and on-site construction requirements), if any, have been fulfilled, and, to the best of Mxxxxxxxx's knowledge, no condition now exists whereby any party to any such Property Agreement could refuse to honor its obligations thereunder. (viii) All work, if any, required to be performed by Borrower prior to the date hereof Mortgagor under each of the Property Agreements amendments has been substantially performed, all contributions to be made by Borrower Mortgagor to any party to such Property Agreements have been made, and all other conditions to such party’s 's obligations thereunder have been satisfied.

Property Agreements. (i) Borrower has Borrowers have delivered to Lender true, correct and complete copies of all material Property Agreements of record or which could bind any owner of the Property other than BorrowerAgreements. (ii) No Property Agreement provides any party with the right to obtain a lien or encumbrance upon the any Property superior to the lien of this Security Instrumentthe Mortgage encumbering such Property. (iii) No Borrower nor any other party to any Property Agreement affecting a Property (iii) No Borrower nor any other party to any Property Agreement affecting a Property is in default exists of its monetary or other material obligations thereunder beyond any notice and applicable grace period and no event has occurred which, with the passing of time or the giving of notice or both the passage of time, or both, would exist under constitute such a monetary default or, to the knowledge of Borrower, any Property Agreement such other default, in each case which would, individually or in the aggregate, would have a Material Adverse Effect. (iv) Borrower has Borrowers have not received or given any written communication which alleges that a material default exists or, with the giving of notice or the lapse of time, or both, would exist under the provisions of any Property AgreementAgreement except for such defaults which have been cured. (v) No condition currently exists whereby a Borrower or any future owner of the a Property may be required to purchase any other parcel of land which is subject to any Property Agreement or which gives any Person a right to purchase, or right of first refusal with respect to, the such Property. (vi) To the best knowledge of BorrowerBorrowers, no offset or any right of offset exists respecting continued contributions to be made by any party to any Property Agreement except as expressly set forth therein. Except as previously disclosed to Lender in writing, no material exclusions or restrictions on the utilization, leasing or improvement of the any Property (including non-compete agreements) exists in any Property Agreement. (vii) Except as previously disclosed to Lender in writing writing, all "pre-opening" requirements contained in all Property Agreements (including, but not limited to, all off-site and on-site construction requirements), if any, have been fulfilled and, to Lenderthe best of Borrowers' knowledge, no condition now exists whereby any party to any such Property Agreement could refuse to honor its obligations thereunder if such refusal is reasonably likely to have a Material Adverse Effect. (viii) Except as previously disclosed to Lender in writing, all work, if any, required to be performed by a Borrower prior to the date hereof under each of the Property Agreements has been substantially performed, all contributions to be made by a Borrower to any party to such Property Agreements have been made, and all other conditions to such party’s 's obligations thereunder have been satisfiedsatisfied if the failure to so perform, contribute or satisfy is reasonably likely to have a Material Adverse Effect.

Property Agreements. (i) The Borrower has delivered to Lender the Syndication Agent true, correct and complete copies of the Management Agreement, the Brokerage Agreement, the ESA, the REA, the Sale and Contribution Agreement, the XXXXX (if entered into), the Trademark Cross License Agreement, the FADAA, the Mall Retainage Escrow Agreement and all other material Property Agreements of record or which could bind any owner of in effect on the Property other than Borrower. (ii) date hereof. No Property Agreement provides any party with the right to obtain a lien or encumbrance upon the Property superior to the lien of this Security Instrument. (iii) No monetary default exists and no material non-monetary default exists, or with the passing of time or the giving of notice or both both, would exist under any Property Agreement which would(x) on the part of Borrower or (y) to the best knowledge of Borrower, individually or any other Person (unless, in the aggregatecase of a default by any party other than Borrower, have such default is a default that (x) a Commercially Reasonable Owner would irrevocably waive and (y) is not reasonably likely to result in a Material Adverse Effect. ). No party to any Property Agreement (ivother than a Service Contract) Borrower has given or received any written notice or claim of monetary or material non-monetary default under such Property Agreement which has not received been cured (other than notices or claims of default given any written communication which alleges and addressed to a party other than Borrower relating to defaults that (x) a default exists or, with the giving of notice or the lapse of time, or both, Commercially Reasonable Owner would exist under the provisions of any Property Agreement. waive and (vy) are not reasonably likely to result in a Material Adverse Effect). No condition currently exists whereby the Borrower or any future owner of the Property Collateral may be required to purchase any other parcel of land which is subject to any Property Agreement or which gives any Person a right to purchase, or right of reversion, a right of first refusal refusal, right of first offer or another similar right or interest in or with respect to, the Property. (vi) To the best knowledge of Borrower, no offset or any right of offset exists respecting continued contributions to be made by any party to any Property Agreement except as expressly set forth thereinCollateral. Except as previously disclosed to Lender in writing, no No material exclusions or restrictions on the utilization, leasing or improvement of the Property Collateral (including non-compete agreements) exists exist in any Property Agreement (other than those set forth in the REAs and the Permitted Encumbrances). The Administrative Agent hereby approves the Trademark Cross License Agreement. (vii) Except as previously disclosed in writing to Lender, all work, if any, required to be performed by Borrower prior to the date hereof under each of the Property Agreements has been substantially performed, all contributions to be made by Borrower to any party to such Property Agreements have been made, and all other conditions to such party’s obligations thereunder have been satisfied.

Property Agreements. (i) Borrower has delivered to Lender true, correct and complete copies of all material Property Agreements of record or which could bind any owner of the Property other than BorrowerAgreements. (ii) No Property Agreement provides any party with the right to obtain a lien or encumbrance upon the Property a Project superior to the lien of this Security Instrumentthe applicable Mortgage. (iii) No default by Borrower (or, to Borrower’s knowledge, by other parties thereto) exists or with the passing of time or the giving of notice or both would exist under any Property Agreement which would, individually or in the aggregate, have a Material Adverse Effect. (iv) Borrower has not received or given any written communication which alleges that a default exists or, with the giving of notice or the lapse of time, or both, would exist under the provisions of any Property Agreement. (v) No condition currently exists whereby Borrower or any future owner of the Property a Project may be required to purchase any other parcel of land which is subject to any Property Agreement or which gives any Person a right to purchase, or right of first refusal with respect to, the Propertya Project. (vi) To the best knowledge of Borrower, no offset or any right of offset exists respecting continued contributions to be made by any party to any Property Agreement except as expressly set forth therein. Except as previously disclosed to Lender in writing, no material exclusions or restrictions on the utilization, leasing or improvement of the Property any Project (including non-non compete agreements) exists exist in any Property Agreement. (vii) Except as previously disclosed All “pre opening” requirements contained in writing to Lenderall Property Agreements (including, but not limited to, all off site and on site construction requirements), if any, have been fulfilled, and, to the best of Borrower’s knowledge, no condition now exists whereby any party to any such Property Agreement could refuse to honor its obligations thereunder. (viii) All work, if any, required to be performed by Borrower prior to the date hereof under each of the Property Agreements has been substantially performed, all contributions to be made by Borrower to any party to such Property Agreements have been made, and all other conditions to such party’s obligations thereunder have been satisfied.

Property Agreements. (i) Borrower Grantor has delivered to Lender Beneficiary true, correct and complete copies of all material Property Agreements of record or which could bind any owner of the Property other than BorrowerAgreements. (ii) No Property Agreement provides any party with the right to obtain a lien or encumbrance upon the Trust Property superior to the lien of this Security InstrumentDeed of Trust. (iii) No Neither Grantor nor any other party to any Property Agreement affecting the Trust Property is in default exists of its monetary or other material obligations thereunder beyond any notice and applicable grace period and no event has occurred which, with the passing of time or the giving of notice or both the passage of time, or both, would exist under constitute such a monetary default or, to the best knowledge of Grantor after due inquiry, any Property Agreement such other default, in each case which would, individually or in the aggregate, would have a Material Adverse Effect. (iv) Borrower Grantor has not received or given any written communication which alleges that a material default exists or, with the giving of notice or the lapse of time, or both, would exist under the provisions of any Property AgreementAgreement except for such defaults which have been cured. (v) No condition currently exists whereby Borrower Grantor or any future owner of the Trust Property may be required to purchase any other parcel of land which is subject to any Property Agreement or which gives any Person a right to purchase, or right of first refusal with respect to, the Trust Property. (vi) To the best knowledge of BorrowerGrantor, no offset or any right of offset exists respecting continued contributions to be made by any party to any Property Agreement except as expressly set forth therein. Except as previously disclosed to Lender Beneficiary in writing, no material exclusions or restrictions on the utilization, leasing or improvement of the Trust Property (including non-compete agreements) exists in any Property Agreement. (vii) Except as previously disclosed to Beneficiary in writing writing, all "pre-opening" requirements contained in all Property Agreements (including, but not limited to, all off-site and on-site construction requirements), if any, have been fulfilled, and, to Lenderthe best of Grantor's knowledge, no condition now exists whereby any party to any such Property Agreement could refuse to honor its obligations thereunder if such refusal is reasonably likely to have a Material Adverse Effect. (viii) Except as previously disclosed to Beneficiary in writing, all work, if any, required to be performed by Borrower prior to the date hereof Grantor under each of the Property Agreements has been substantially performed, all contributions to be made by Borrower Grantor to any party to such Property Agreements have been made, and all other conditions to such party’s 's obligations thereunder have been satisfiedsatisfied if the failure to so perform, contribute or satisfy is reasonably likely to have a Material Adverse Effect.