Common use of Property Characteristics Clause in Contracts

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 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 Xxxxxxxx has not made any claims, and to BorrowerXxxxxxxx’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.