Property Characteristics. (1) The Mortgaged Property contains not less than:
Property Characteristics. The Mortgaged Property contains at least: the Property Square Footage; the Total Parking Spaces; and the Total Residential Units. No part of the Land is included or assessed under or as part of another tax lot or parcel, and no part of any other property is included or assessed under or as part of the tax lot or parcels for the Land. Property Ownership. Borrower is sole owner or ground lessee of the Mortgaged Property. Condition of the Mortgaged Property. Borrower has not made any claims, and to Borrower’s knowledge, no claims have been made, against any contractor, engineer, architect, or other party with respect to the construction or condition of the Mortgaged Property or the existence of any structural or other material defect therein; and neither the Land nor the Improvements have sustained any damage other than damage which has been fully repaired, or is fully insured and is being repaired in the ordinary course of business.
Property Characteristics. The Property contains not less than 359,720 square feet of land. There are not less than 113 parking spaces located on the Property. No part of the Property is included or assessed under or as part of another tax lot or parcel, and no part of any other property is included or assessed under or as part of the tax lot or parcels for the Property.
Property Characteristics. Seller agrees to state honestly the dimensions, characteristics, and condition of the property to the best of their knowledge. Company assumes no liability for inaccuracies, errors, or misstatements made by Seller. Company does not conduct any survey of Property to verify accuracy of any information provided by Seller and is not to be held responsible for the accuracy of the information. Seller has reviewed the information shown on this Agreement and the data input forms provided to Company and hereby acknowledges it to be true and correct.
Property Characteristics. No part of the Land is included or assessed under or as part of another tax lot or parcel, and no part of any other property is included or assessed under or as part of the tax lot or parcels for the Land.
Property Characteristics. (1) The Mortgaged Property contains not less than:
(A) the Property Square Footage;
(B) the Total Parking Spaces; and
(C) the Total Residential Units.
(2) No part of the Land is included or assessed under or as part of another tax lot or parcel, and no part of any other property is included or assessed under or as part of the tax lot or parcels for the Land.
Property Characteristics. Section 6.01(b) (Property Characteristics) is hereby amended by designating the existing paragraph as subsection (1) and adding the following subsection (2) to the end thereof:
Property Characteristics. The Mortgaged Property contains at least: the Property Square Footage; the Total Parking Spaces; and the Total Residential Units. No part of the Land is included or assessed under or as part of another tax lot or parcel, and no part of any other property is included or assessed under or as part of the tax lot or parcels for the Land. Property Ownership. IDOT Guarantor is sole owner or ground lessee of the Mortgaged Property. Condition of the Mortgaged Property. Obligor has not made any claims, and to Obligor’s knowledge, no claims have been made, against any contractor, engineer, architect, or other party with respect to the construction or condition of the Mortgaged Property or the existence of any structural or other material defect therein; and neither the Land nor the Improvements has sustained any damage other than damage which has been fully repaired, or is fully insured and is being repaired in the ordinary course of business. Personal Property. Obligor owns (or, to the extent disclosed on the Exceptions to Representations and Warranties Schedule, leases) all of the Personal Property that is material to and is used in connection with the management, ownership, and operation of the Mortgaged Property.
Property Characteristics. The venture will target “core” income oriented neighborhood and community centers with the following characteristics:
1. Between 65,000 sq. ft. and 250,000 square feet;
2. Small shop space economic occupancy of at least 85%;
3. Ratio of small shops to anchors no more than 50% of the gross leaseable area;
4. Parking ratio sufficient for tenancy as well as within zoning requirements;
5. If anchored by a grocery store, such grocery store will be the #1 or #2 grocery store operator (by market share in the applicable geographic location) and will be operating its most current format;
6. No older than 15 years unless center has been renovated during the last 15 years;
7. There will be at least 7 years remaining on the anchor tenant’s lease; and
8. Specifically excluded are centers with dark anchors or dark drugstores. Also specifically excluded are properties with an on site dry-cleaning plant or gas stations and properties directly adjacent to gas stations unless a current Phase I environmental site assessment shows no material contamination.
9. Shadow-anchored centers will be excluded unless 25% of the Property’s square footage is occupied by other anchor or credit tenants.
Property Characteristics. Except as shown on the Title Insurance Policies (including any date down endorsements), no part of any Mortgaged Property is included or assessed under or as part of another tax lot or parcel, and no part of any other property is included or assessed under or as part of the tax lot or parcels for any Mortgaged Property. On each Mortgaged Property, there is a Manufactured Housing Community owned and operated by Borrower, consisting of lots for placement of residential manufactured homes (“Sites”), and related amenities, landscaping, roads, and infrastructure (“Manufactured Housing Community”). Except for the Mortgaged Properties commonly known as Meadowlake, Clear Water, King’s Court (private water system servicing four hundred sixty-nine (469) sites; public water system servicing one hundred seventy (170) sites), Saddle Oak, Water Oak, and Worthington, each Mortgaged Property has public sewer and water hookups. The Mortgaged Properties commonly known as Meadowlake, Clear Water, King’s Court (private water system servicing four hundred seventy-nine (479) sites; public water system servicing one hundred sixty (160) sites), Saddle Oak, Water Oak, and Worthington, have a septic system or a private treatment plant system that (a) has passed an inspection by a qualified engineer, (b) does not have a record of operating violations, (c) has required licensing, and (d) is not owned by a separate entity. Each Manufactured Housing Community has paved roads. Each Manufactured Housing Community has rolled or concrete curbs except as disclosed in Schedule I attached hereto. Each Manufactured Housing Community has at least fifty (50) Sites. If a Manufactured Housing Community has been in existence since before 2002, there are not more than ten (10) Homes per acre. If a Manufactured Housing Community has been in existence since 2002, there are not more than seven (7) Homes per acre. In each Manufactured Housing Community, a minimum of fifty percent (50%) of existing Sites accommodate double wide Homes in compliance with local zoning and ordinances.
