Common use of Property Condition Report Clause in Contracts

Property Condition Report. Lender shall have received reports covering the physical and structural condition of each Collateral Property in form and substance, and prepared by a qualified independent engineer, reasonably satisfactory to Lender and dated no more than six (6) months prior to the Closing Date, which shall (i) identify code and ADA compliance, (ii) include a schedule of deferred maintenance and the cost thereof, (iii) include a schedule of all capital expenditures projected to be required in the twelve (12) year period following the Closing Date, and (iv) for any Collateral Property in States in which Lender reasonably determines that there has been a history of earthquakes, assess the probable maximum loss in the event of the occurrence of an earthquake.

Property Condition Report. Lender shall have received reports ------------------------- covering the physical and structural condition of each the proposed Collateral Property in form and substance, and prepared by a qualified independent engineer, reasonably satisfactory to Lender and dated no more than six (6) 6 months prior to the Closing Datetime such proposed Collateral Property first becomes a Collateral Property, which shall (i) identify code and ADA compliance, (ii) include a schedule of deferred maintenance and the cost thereof, (iii) thereof and include a 10-year schedule of all annual cost to perform deferred maintenance and of capital expenditures projected to be required in the twelve (12) year period following the Closing Dateexpenditures, and (ivii) for any Collateral Property in States states in which Lender reasonably determines that there has been a history of earthquakes, assess the probable maximum loss in the event of the occurrence of an earthquake.

Property Condition Report. Lender shall have received reports covering the physical and structural condition of each the Collateral Property in form and substance, and prepared by a qualified independent engineer, reasonably satisfactory to Lender and dated no more than six (6) months prior to the Closing Date, which shall (i) identify code and ADA compliance, (ii) include a schedule of deferred maintenance and the cost thereof, (iii) include a schedule of all capital expenditures projected to be required in the twelve (12) year period following the Closing Date, and (iv) for any if the Collateral Property is in States a State in which Lender reasonably determines that there has been a history of earthquakes, assess the probable maximum loss in the event of the occurrence of an earthquake.