Common use of Property Documents Clause in Contracts

Property Documents. Seller hereby represents it has delivered to Buyer or otherwise made reasonably available to Buyer, the documents set forth in subsections (a) through (p) of this Section 3 (collectively, the “Property Documents”); provided, however, that Buyer acknowledges and agrees that it has, as of the date hereof, received, reviewed and approved each of the Phase I Environmental Site Assessments and Sensitive Receptors Surveys prepared by Xxxx Environmental Inc. and dated in February, March and April, 2003 (the “Site Assessments”) and the other Property Documents specified in Schedule 2 attached hereto (collectively, with the Site Assessments, the “Schedule 2 Documents”). Seller, with Buyer’s consent, has engaged directly third parties in connection with the preparation of all title reports, surveys and appraisals and that the scope of any such engagement has been approved by Buyer. Buyer has engaged all other third parties in connection with its acquisition of the Properties. (a) Commitments for title insurance covering each fee estate in each Real Property (collectively “Title Commitments”; each individually a “Title Commitment”) from Title Company, setting forth the status of title to each Real Property, showing all matters of record affecting each Real Property, together with a true, complete and (to the extent available) legible copy of all documents referred to in each Title Commitment; (b) Current ALTA Land Title “As Built” Survey (collectively, the “Surveys”; each individually, a “Survey”) for each Real Property, containing the certification set forth on Exhibit B, as the same may be required to be modified (subject to Buyer’s consent, which shall not be unreasonably withheld) to conform with requirements of particular jurisdictions and surveys; (c) [****] (d) Evidence of insurance covering all Properties as required pursuant to the Master Lease Agreements, whose effective date shall be no later than the Closing Date; (e) To the extent in Seller’s possession, a certificate of occupancy regarding each Real Property; [****] Redacted in accordance with applicable practice with Autorite des marches financiers (Quebec Securities Commission) (f) Profit and loss statements regarding each Property and such other financial statements and information as Buyer reasonably shall have requested regarding Seller or the Properties; (g) [****]; (h) Any engineering reports (other than the Site Assessments) in Seller’s possession regarding the Real Properties, including without limitation a description of any deferred maintenance and repairs and an estimate of the cost thereof, and a reliance letter in favor of Buyer for each such report from the person or entity that prepared same; (i) MAI Appraisal (including Land valuation) for each Real Property (each, an “Appraisal”) and a reliance letter in favor of Buyer for each Appraisal from the person or entity that prepared same; (j) UCC, litigation and tax lien searches from the Title Company or, subject to Seller’s reasonable approval, another commercially recognized search company regarding all Properties and Seller; (k) For each Real Property, zoning permits and regulations (if available) and other evidence of proper zoning (e.g. zoning letters or zoning reports), as may be reasonably available to Seller; and if legal non-conforming uses exist, evidence that the improvements may be rebuilt to existing specifications following a casualty or condemnation, as may be reasonably available to Seller; (l) Final “As Built” plans and specifications for each Real Property, if in Seller’s possession; (m) Any governmental “no further action” letters regarding any Real Property, if reasonably available to Seller; (n) [****] (o) All of the following concerning each Property, in each case if material and if in Seller’s possession: any and all studies, data, reports, agreements, licenses, leases, environmental assessments, surveys, reports, documents, plans, maps, and permits (to the extent not already delivered to Buyer pursuant to subsections (a) – (n), above); and (p) Such other information regarding Seller, ACT, or any of the Properties that Buyer reasonably may have requested, to the extent such other information is reasonably available to Seller.

Appears in 2 contracts

Samples: Purchase and Sale Agreement (3055854 Nova Scotia Co), Purchase and Sale Agreement (3055854 Nova Scotia Co)

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Property Documents. Seller hereby represents it has delivered to Buyer or otherwise made reasonably available to Buyer, Lender shall have received the following documents set forth in subsections (a) through (p) of this Section 3 (collectively, the “Property Documents”); provided, however, that Buyer acknowledges and agrees that it has, as of the date hereof, received, reviewed and approved each of the Phase I Environmental Site Assessments and Sensitive Receptors Surveys prepared by Xxxx Environmental Inc. and dated in February, March and April, 2003 (the “Site Assessments”) and the other Property Documents specified in Schedule 2 attached hereto (collectively, with the Site Assessments, the “Schedule 2 Documents”). Seller, with Buyer’s consent, has engaged directly third parties in connection with the preparation of all title reports, surveys and appraisals and that the scope of any such engagement has been approved by Buyer. Buyer has engaged all other third parties in connection with its acquisition of the Properties. (a) Commitments for title insurance covering each fee estate in each Real Property (collectively “Title Commitments”; each individually a “Title Commitment”) from Title Company, setting forth the status of title to each Real Property, showing all matters of record affecting each Real Property, together with a true, complete and (respect to the extent available) legible copy of all documents referred Project, in form and substance acceptable to in each Title Commitment; (b) Current ALTA Land Title “As Built” Survey (collectively, the “Surveys”; each individually, a “Survey”) for each Real Property, containing the certification set forth on Exhibit B, as the same may be required to be modified (subject to Buyer’s consent, which shall not be unreasonably withheld) to conform with requirements of particular jurisdictions and surveys; (c) [****] (d) Evidence of insurance covering all Properties as required pursuant to the Master Lease Agreements, whose effective date shall be no later than the Closing Date; (e) To the extent in Seller’s possession, a certificate of occupancy regarding each Real Property; [****] Redacted in accordance with applicable practice with Autorite des marches financiers (Quebec Securities Commission) (f) Profit and loss statements regarding each Property and such other financial statements and information as Buyer reasonably shall have requested regarding Seller or the Properties; (g) [****]; (h) Any engineering reports (other than the Site Assessments) in Seller’s possession regarding the Real Properties, including without limitation a description of any deferred maintenance and repairs and an estimate of the cost thereof, and a reliance letter in favor of Buyer for each such report from the person or entity that prepared same;Lender: (i) MAI an Appraisal (including Land valuation) for each Real Property (eachof the Project, showing an “Appraisal”) as-is” aggregate value for the Project of not less than $48,000,000, and a reliance letter an “as-stabilized” aggregate value for the Project of not less than $80,000,000, and otherwise acceptable to Lender in favor of Buyer for each Appraisal from the person or entity that prepared sameits sole discretion; (jii) UCC, litigation and tax lien searches from the Title Company orPolicies in the amount of the Loans, insuring Lender of the validity and priority of the Liens of the Mortgages upon Borrower’s interest in the Project, subject only to SellerPermitted Encumbrances, with such endorsements and otherwise in such form and substance as shall be acceptable to Lender and Lender’s reasonable approvalcounsel, another commercially recognized search company regarding and that such Title Policies shall at all Properties and Sellertimes expressly insure against all mechanics’ liens; (kiii) For each Real Propertysuch environmental assessments, zoning permits studies, reports and regulations (if available) and other evidence of proper zoning (e.g. zoning letters investigations on the Project, and/or the soils or zoning reports), as may be reasonably available to Seller; and if legal non-conforming uses exist, evidence that the improvements may be rebuilt to existing specifications following a casualty or condemnation, as may be reasonably available to Seller; (l) Final “As Built” plans and specifications for each Real Property, if in Seller’s possession; (m) Any governmental “no further action” letters regarding any Real Property, if reasonably available to Seller; (n) [****] (o) All of the following concerning each Propertygroundwaters thereof, in each case addressed to Lender (or if material not addressed to Lender, Borrower shall have delivered a reliance letter satisfactory to Lender) and if in Seller’s possession: any and all studies, data, reports, agreements, licenses, leases, environmental assessments, surveys, reports, documents, plans, maps, and permits dated no earlier than six (6) months prior to the extent not already delivered Closing Date, prepared by environmental consultants reasonably satisfactory to Buyer pursuant Lender (provided that WCD Group, LLC is deemed to subsections be satisfactory to Lender) and in form and substance acceptable to Lender and Lender’s counsel in the sole but reasonable discretion of such Persons; (aiv) a current ALTA survey of the Project certified in favor of Lender and otherwise in a form reasonably acceptable to Lender and Lender’s counsel; (n)v) a construction feasibility study and cost review dated no earlier than six (6) months prior to the Closing Date, above)in form and substance acceptable to Lender; (vi) a Consent and Agreement from the Architect, attaching a copy of the Architect’s Agreement; (vii) a Consent and Agreement from the Construction Manager, attaching a copy of the Construction Management Agreement; (viii) an estoppel certificate from the ground lessor under the Ground Lease in favor of Lender, in form and substance acceptable to Lender; and (pix) Such such other information regarding Seller, ACT, or any of the Properties that Buyer reasonably may have requested, documents with respect to the extent such other information is Project as are required pursuant to this Agreement or as Lender shall otherwise reasonably available to Sellerrequire.

Appears in 1 contract

Samples: Acquisition and Project Loan Agreement (KBS Strategic Opportunity REIT II, Inc.)

Property Documents. On April 10, 2014 (the “Delivery Date”), Seller hereby represents it has delivered to Buyer through a secure website or otherwise made reasonably make available to BuyerPurchaser at the Property, to the extent (and only to the extent) that such items are available and in Seller’s actual possession or in the actual possession of the management company engaged by Seller to manage the Property, the documents set forth in subsections described on Exhibit B attached hereto and made a part hereof for all purposes (a) through (p) of this Section 3 (collectively, the “Property Documents”); provided, however, that Buyer . Purchaser hereby acknowledges and agrees that it has, as of the date hereof, received, reviewed and approved each of the Phase I Environmental Site Assessments and Sensitive Receptors Surveys prepared by Xxxx Environmental Inc. and dated in February, March and April, 2003 (the “Site Assessments”) and the other Property Documents specified in Schedule 2 attached hereto (collectivelywere delivered to Purchaser or made available to Purchaser either at the Property or via a secure website on the Delivery Date and, with the Site Assessments, the “Schedule 2 Documents”). if requested by Seller, with Buyer’s consent, has engaged directly third parties Purchaser shall execute instruments acknowledging receipt of any other document delivered or made available to Purchaser in connection with the preparation transaction contemplated hereby. During the Inspection Period (as hereinafter defined), Purchaser may inspect the Property Documents during normal business hours and may photocopy same at Purchaser’s expense. Notwithstanding the foregoing provisions, Seller shall not be obligated to deliver to Purchaser any report described in Exhibit B if the terms of all title reportssuch report restricts Seller from doing so. With respect to any environmental report or other report described in Exhibit B which Seller delivers to Purchaser, surveys Purchaser understands and appraisals agrees that (a) such report shall be delivered to Purchaser for general information purposes only, (b) Purchaser shall not have any right to rely on any report received from Seller and that will not rely thereon, but rather will rely on inspections and reports performed by or on behalf of Purchaser, and (c) Seller shall have absolutely no liability for any inaccuracy in or omission from any report which it delivers to Purchaser. Any failure of Seller to timely deliver any additional documents related to the scope Property as requested by Purchaser after the Effective Date (the “Additional Property Documents”) will not extend the Inspection Period beyond the period prescribed in Section 3.2 hereof, and Purchaser’s sole and exclusive remedy on account of any such engagement has been approved by Buyer. Buyer has engaged all other third parties in connection with its acquisition failure will be to terminate this Agreement prior to the expiration of the Properties. (a) Commitments for title insurance covering each fee estate in each Real Property (collectively “Title Commitments”; each individually a “Title Commitment”) from Title Company, setting forth the status of title to each Real Property, showing all matters of record affecting each Real Property, together with a true, complete and (to the extent available) legible copy of all documents referred to in each Title Commitment; (b) Current ALTA Land Title “As Built” Survey (collectively, the “Surveys”; each individually, a “Survey”) for each Real Property, containing the certification set forth on Exhibit B, as the same may be required to be modified (subject to Buyer’s consent, which shall not be unreasonably withheld) to conform with requirements of particular jurisdictions and surveys; (c) [****] (d) Evidence of insurance covering all Properties as required pursuant to the Master Lease Agreements, whose effective date shall be no later than the Closing Date; (e) To the extent in Seller’s possession, a certificate of occupancy regarding each Real Property; [****] Redacted Inspection Period in accordance with applicable practice with Autorite des marches financiers (Quebec Securities Commission) (f) Profit and loss statements regarding each the provisions of Section 3.3. Seller makes no representation or warranty, express or implied, as to the accuracy or completeness of the information contained in the Property and such other financial statements and information as Buyer reasonably shall have requested regarding Seller Documents or the Properties; (g) [****]; (h) Any engineering reports (other than the Site Assessments) in Seller’s possession regarding the Real Properties, including without limitation a description of any deferred maintenance and repairs and an estimate of the cost thereof, and a reliance letter in favor of Buyer for each such report from the person or entity that prepared same; (i) MAI Appraisal (including Land valuation) for each Real Additional Property (each, an “Appraisal”) and a reliance letter in favor of Buyer for each Appraisal from the person or entity that prepared same; (j) UCC, litigation and tax lien searches from the Title Company or, subject to Seller’s reasonable approval, another commercially recognized search company regarding all Properties and Seller; (k) For each Real Property, zoning permits and regulations (if available) and other evidence of proper zoning (e.g. zoning letters or zoning reports), as may be reasonably available to Seller; and if legal non-conforming uses exist, evidence that the improvements may be rebuilt to existing specifications following a casualty or condemnation, as may be reasonably available to Seller; (l) Final “As Built” plans and specifications for each Real Property, if in Seller’s possession; (m) Any governmental “no further action” letters regarding any Real Property, if reasonably available to Seller; (n) [****] (o) All of the following concerning each Property, in each case if material and if in Seller’s possession: any and all studies, data, reports, agreements, licenses, leases, environmental assessments, surveys, reports, documents, plans, maps, and permits (to the extent not already delivered to Buyer pursuant to subsections (a) – (n), above); and (p) Such other information regarding Seller, ACT, or any of the Properties that Buyer reasonably may have requested, to the extent such other information is reasonably available to SellerDocuments.

Appears in 1 contract

Samples: Purchase Agreement (Behringer Harvard Opportunity REIT II, Inc.)

Property Documents. Seller hereby represents it has delivered to Buyer or otherwise made reasonably available to Buyer, the documents set forth in subsections Within three (a3) through (p) calendar days of this Section 3 Agreement, Seller shall deliver to Purchaser copies of all permits, soils reports, licenses, maintenance contracts, utility contracts, operating contracts, management contracts, service contracts, and other contracts pertaining to the Property that are still in effect as to the Property as of that day, together with any amendments or modifications (collectively, the “Property Documents”); provided, however, that Buyer acknowledges and agrees that it has, as . Prior to the end of the date hereofDue Diligence Period, receivedPurchaser shall review each Property Document, reviewed providing both Escrow Agent and approved each Seller with a writing setting out Purchaser’s approval or disapproval of the Phase I Environmental Site Assessments Property Documents. In the event Escrow Agent and Sensitive Receptors Surveys prepared by Xxxx Environmental Inc. and dated in February, March and April, 2003 (Seller do not actually receive the “Site Assessments”) and Purchaser’s written approval or disapproval of the other Property Documents specified in Schedule 2 attached hereto (collectively, with prior to the Site Assessments, the “Schedule 2 Documents”). Seller, with Buyer’s consent, has engaged directly third parties in connection with the preparation of all title reports, surveys and appraisals and that the scope of any such engagement has been approved by Buyer. Buyer has engaged all other third parties in connection with its acquisition end of the Properties. Due Diligence Period, said non-receipt shall be deemed to be Purchaser’s acceptance of the Property Documents, and Purchaser does hereby expressly waive any and all rights it may otherwise have or had to cancel the Escrow from and after that point in time for any reason whatsoever. Should Purchaser approve, or be deemed to have approved, of the Property Documents, then in that event at the Close of Escrow (a) Commitments for title insurance covering each fee estate in each Real Property (collectively “Title Commitments”; each individually a “Title Commitment”) from Title Company, setting forth the status Seller shall assign to Purchaser all of title to each Real Property, showing all matters of record affecting each Real Property, together with a true, complete and (to the extent available) legible copy of all documents referred to in each Title Commitment; (b) Current ALTA Land Title “As Built” Survey (collectively, the “Surveys”; each individually, a “Survey”) for each Real Property, containing the certification set forth on Exhibit B, as the same may be required to be modified (subject to Buyer’s consent, which shall not be unreasonably withheld) to conform with requirements of particular jurisdictions and surveys; (c) [****] (d) Evidence of insurance covering all Properties as required pursuant to the Master Lease Agreements, whose effective date shall be no later than the Closing Date; (e) To the extent in Seller’s possession, a certificate of occupancy regarding each Real Property; [****] Redacted rights and remedies under the Property Documents which Purchaser indicates in accordance with applicable practice with Autorite des marches financiers (Quebec Securities Commission) (f) Profit and loss statements regarding each Property and such other financial statements and information as Buyer reasonably shall have requested regarding writing to Seller or the Properties; (g) [****]; (h) Any engineering reports (other than the Site Assessments) in Seller’s possession regarding the Real Properties, including without limitation a description of any deferred maintenance and repairs and an estimate of the cost thereof, and a reliance letter in favor of Buyer for each such report from the person or entity that prepared same; (i) MAI Appraisal (including Land valuation) for each Real Property (each, an “Appraisal”) and a reliance letter in favor of Buyer for each Appraisal from the person or entity that prepared same; (j) UCC, litigation and tax lien searches from the Title Company or, subject Purchaser wishes to Seller’s reasonable approval, another commercially recognized search company regarding all Properties and Seller; (k) For each Real Property, zoning permits and regulations (if available) and other evidence of proper zoning (e.g. zoning letters or zoning reports), as may be reasonably available to Seller; and if legal non-conforming uses exist, evidence that the improvements may be rebuilt to existing specifications following a casualty or condemnation, as may be reasonably available to Seller; (l) Final “As Built” plans and specifications for each Real Property, if in Seller’s possession; (m) Any governmental “no further action” letters regarding any Real Property, if reasonably available to Seller; (n) [****] (o) All of the following concerning each Property, in each case if material and if in Seller’s possession: any and all studies, data, reports, agreements, licenses, leases, environmental assessments, surveys, reports, documents, plans, maps, and permits (to the extent not already delivered to Buyer pursuant to subsections (a) – (n), above); and (p) Such other information regarding Seller, ACT, or any of the Properties that Buyer reasonably may have requestedassume, to the extent such assignable, pursuant to an assignment of contracts, warranties and other information intangible property rights agreement; and (b) Purchaser shall assume all of the obligations and duties owing from Seller under the Property Documents (the “Assignment of Contracts”), which Assignment of Contracts shall be in a form and of a substance that is reasonably available satisfactory to Sellerboth Seller and Purchaser. With respect to Property Documents that are not assigned to Purchaser, Seller shall terminate those Property Documents by delivering notices of Purchaser’s election to terminate to those affected contracting parties.

Appears in 1 contract

Samples: Purchase and Sale Agreement (TNP Strategic Retail Trust, Inc.)

Property Documents. Seller hereby represents it has delivered to Buyer or otherwise made reasonably available to Buyer, the documents set forth in subsections (a) through To Borrower’s knowledge, (pi) of this Section 3 neither Mortgage Borrower, nor any other party is currently in default (collectively, the “Property Documents”); provided, however, that Buyer acknowledges and agrees that it has, as nor has any notice been given or received with respect to an alleged or current default) under any of the date hereof, received, reviewed terms and approved each of the Phase I Environmental Site Assessments and Sensitive Receptors Surveys prepared by Xxxx Environmental Inc. and dated in February, March and April, 2003 (the “Site Assessments”) and the other Property Documents specified in Schedule 2 attached hereto (collectively, with the Site Assessments, the “Schedule 2 Documents”). Seller, with Buyer’s consent, has engaged directly third parties in connection with the preparation of all title reports, surveys and appraisals and that the scope conditions of any such engagement has been approved by Buyer. Buyer has engaged all other third parties Property Document, (ii) each Property Document remains unmodified and in connection with its acquisition of the Properties. (a) Commitments for title insurance covering each fee estate in each Real Property (collectively “Title Commitments”; each individually a “Title Commitment”) from Title Companyfull force and effect, setting forth the status of title to each Real Property, showing all matters of record affecting each Real Property, together with a true, complete and (iii) Mortgage Borrower’s interest therein has not been assigned pursuant to any assignment which survives the Closing Date except the assignment to Mortgage Lender pursuant to the extent available) legible copy of all documents referred to in each Title CommitmentMortgage Loan Documents; (b) Current ALTA Land Title “As Built” Survey To Borrower’s knowledge, all easements granted pursuant to each Property Document which were to have survived the site preparation and completion of construction (collectively, to the “Surveys”; each individually, a “Survey”) for each Real Property, containing the certification set forth on Exhibit B, as extent that the same may be required to be modified (subject to Buyer’s consenthas been completed), which shall remain in full force and effect and have not be unreasonably withheld) to conform with requirements of particular jurisdictions and surveysbeen released, terminated, extinguished or discharged by agreement or otherwise; (c) [****]All sums due and owing by Mortgage Borrower to the other parties to each Property Document (or by the other parties to each Property Document to Mortgage Borrower) pursuant to the terms of each such Property Document, including without limitation, all sums, charges, fees, assessments, costs, and expenses in connection with any taxes, site preparation and construction, non shareholder contributions, and common area and other property management activities have been paid, are current, and no lien has attached on any Individual Property (or threat thereof been made) for failure to pay any of the foregoing; and (d) Evidence of insurance covering all Properties as required pursuant to To Borrower’s knowledge, the Master Lease Agreementsterms, whose effective date shall be no later than the Closing Date; (e) To the extent conditions, covenants, uses and restrictions contained in Seller’s possession, a certificate of occupancy regarding each Real Property; [****] Redacted in accordance with applicable practice with Autorite des marches financiers (Quebec Securities Commission) (f) Profit and loss statements regarding each Property Document do not conflict in any manner with any terms, conditions, covenants, uses and such other financial statements restrictions contained in any Major Lease or in any agreement between Mortgage Borrower and information as Buyer reasonably shall have requested regarding Seller or the Properties; (g) [****]; (h) Any engineering reports (other than the Site Assessments) in Seller’s possession regarding the Real Propertiesoccupant of any peripheral parcel, including without limitation a description of any deferred maintenance limitation, conditions and repairs and an estimate of the cost thereofrestrictions with respect to kiosk placement, and a reliance letter in favor of Buyer for each such report from the person tenant restrictions (type, location or entity that prepared same; (i) MAI Appraisal (including Land valuation) for each Real Property (each, an “Appraisal”) and a reliance letter in favor of Buyer for each Appraisal from the person or entity that prepared same; (j) UCC, litigation and tax lien searches from the Title Company or, subject to Seller’s reasonable approval, another commercially recognized search company regarding all Properties and Seller; (k) For each Real Property, zoning permits and regulations (if available) and other evidence of proper zoning (e.g. zoning letters or zoning reportsexclusivity), as may be reasonably available to Seller; and if legal non-conforming uses existsale of certain goods or services, evidence that the improvements may be rebuilt to existing specifications following a casualty or condemnation, as may be reasonably available to Seller; (l) Final “As Built” plans and specifications for each Real Property, if in Seller’s possession; (m) Any governmental “no further action” letters regarding any Real Property, if reasonably available to Seller; (n) [****] (o) All of the following concerning each Property, in each case if material and if in Seller’s possession: any and all studies, data, reports, agreements, licenses, leases, environmental assessments, surveys, reports, documents, plans, maps, and permits (to the extent not already delivered to Buyer pursuant to subsections (a) – (n), above); and (p) Such and/or other information regarding Seller, ACT, or any of the Properties that Buyer reasonably may have requested, to the extent such other information is reasonably available to Selleruse restrictions.

Appears in 1 contract

Samples: Mezzanine Loan Agreement (Ashford Hospitality Trust Inc)

Property Documents. As soon after the Effective Date as reasonably practicable through the use of good faith efforts by Seller, Seller hereby represents it has delivered to Buyer shall deliver through a secure website or otherwise made reasonably make available to BuyerPurchaser at the Property, to the extent (and only to the extent) that such items are available and in Seller’s actual possession or in the actual possession of the management company engaged by Seller to manage the Property, the documents set forth in subsections described on Exhibit B attached hereto and made a part hereof for all purposes (a) through (p) of this Section 3 (collectively, the “Property Documents”); provided. Purchaser shall, howeverif requested by Seller, that Buyer acknowledges and agrees that it has, as execute instruments acknowledging receipt of the date hereof, received, reviewed and approved each of the Phase I Environmental Site Assessments and Sensitive Receptors Surveys prepared by Xxxx Environmental Inc. and dated in February, March and April, 2003 (the “Site Assessments”) and the other Property Documents specified in Schedule 2 attached hereto (collectively, with delivered to Purchaser or made available to Purchaser either at the Site Assessments, the “Schedule 2 Documents”). Seller, with Buyer’s consent, has engaged directly third parties Property or via a secure website or any other document delivered or made available to Purchaser in connection with the preparation transaction contemplated hereby. During the Inspection Period (as hereinafter defined), Purchaser may inspect the Property Documents during normal business hours and may photocopy same at Purchaser’s expense. Notwithstanding the foregoing provisions, Seller shall not be obligated to deliver to Purchaser any report listed in Exhibit B if the terms of all title reportssuch report restrict Seller from doing so. With respect to any report described in Exhibit B prepared by a third party or prepared from information prepared by a third party, surveys which Seller delivers to Purchaser, Purchaser understands and appraisals agrees that (a) such report shall be delivered to Purchaser for general information purposes only, (b) Purchaser shall not have any right to rely on any report received from Seller and that will not rely thereon, but rather will rely on inspections and reports performed by or on behalf of Purchaser, and (c) Seller shall have absolutely no liability for any inaccuracy in or omission from any report which it delivers to Purchaser. Any failure of Seller to timely deliver any of the scope Property Documents or make available any of the Additional Property Documents (as defined in Exhibit B) will not extend the Inspection Period beyond the period prescribed in Section 3.2 hereof, and Purchaser’s sole and exclusive remedy on account of any such engagement has been approved by Buyer. Buyer has engaged all other third parties in connection with its acquisition failure will be to terminate this Agreement prior to the expiration of the Properties. (a) Commitments for title insurance covering each fee estate in each Real Property (collectively “Title Commitments”; each individually a “Title Commitment”) from Title Company, setting forth the status of title to each Real Property, showing all matters of record affecting each Real Property, together with a true, complete and (to the extent available) legible copy of all documents referred to in each Title Commitment; (b) Current ALTA Land Title “As Built” Survey (collectively, the “Surveys”; each individually, a “Survey”) for each Real Property, containing the certification set forth on Exhibit B, as the same may be required to be modified (subject to Buyer’s consent, which shall not be unreasonably withheld) to conform with requirements of particular jurisdictions and surveys; (c) [****] (d) Evidence of insurance covering all Properties as required pursuant to the Master Lease Agreements, whose effective date shall be no later than the Closing Date; (e) To the extent in Seller’s possession, a certificate of occupancy regarding each Real Property; [****] Redacted Inspection Period in accordance with applicable practice with Autorite des marches financiers (Quebec Securities Commission) (f) Profit and loss statements regarding each the provisions of Section 3.3. Seller makes no representation or warranty, express or implied, as to the accuracy or completeness of the information contained in the Property and such other financial statements and information as Buyer reasonably shall have requested regarding Seller Documents or the Properties; (g) [****]; (h) Any engineering reports (other than the Site Assessments) in Seller’s possession regarding the Real Properties, including without limitation a description of any deferred maintenance and repairs and an estimate of the cost thereof, and a reliance letter in favor of Buyer for each such report from the person or entity that prepared same; (i) MAI Appraisal (including Land valuation) for each Real Additional Property (each, an “Appraisal”) and a reliance letter in favor of Buyer for each Appraisal from the person or entity that prepared same; (j) UCC, litigation and tax lien searches from the Title Company or, subject to Seller’s reasonable approval, another commercially recognized search company regarding all Properties and Seller; (k) For each Real Property, zoning permits and regulations (if available) and other evidence of proper zoning (e.g. zoning letters or zoning reports), as may be reasonably available to Seller; and if legal non-conforming uses exist, evidence that the improvements may be rebuilt to existing specifications following a casualty or condemnation, as may be reasonably available to Seller; (l) Final “As Built” plans and specifications for each Real Property, if in Seller’s possession; (m) Any governmental “no further action” letters regarding any Real Property, if reasonably available to Seller; (n) [****] (o) All of the following concerning each Property, in each case if material and if in Seller’s possession: any and all studies, data, reports, agreements, licenses, leases, environmental assessments, surveys, reports, documents, plans, maps, and permits (to the extent not already delivered to Buyer pursuant to subsections (a) – (n), above); and (p) Such other information regarding Seller, ACT, or any of the Properties that Buyer reasonably may have requested, to the extent such other information is reasonably available to SellerDocuments.

Appears in 1 contract

Samples: Purchase Agreement (Behringer Harvard Opportunity REIT II, Inc.)

Property Documents. Seller hereby represents it has delivered to Buyer or otherwise made reasonably available to Buyer, the documents set forth in subsections (a) through (p) of this Section 3 (collectively, the “Property Documents”); provided, however, that Buyer acknowledges and agrees that it has, as of the date hereof, received, reviewed and approved each of the Phase I Environmental Site Assessments and Sensitive Receptors Surveys prepared by Xxxx Environmental Inc. and dated in February, March and April, 2003 (the “Site Assessments”) and the other Property Documents specified in Schedule 2 attached hereto (collectively, with the Site Assessments, the “Schedule 2 Documents”). Seller, with Buyer’s consent, has engaged directly third parties in connection with the preparation of all title reports, surveys and appraisals and that the scope of any such engagement has been approved by Buyer. Buyer has engaged all other third parties in connection with its acquisition of the Properties[INTENTIONALLY DELETED]. (a) Commitments for title insurance covering each fee estate in each Real Property (collectively “Title Commitments”; each individually a “Title Commitment”) from Title Company, setting forth the status of title to each Real Property, showing all matters of record affecting each Real Property, together with a true, complete and (to the extent available) legible copy of all documents referred to in each Title Commitment; (b) Current ALTA Land Title “As Built” Survey (collectively, the “Surveys”; each individually, a “Survey”) for each Real Property, containing the certification set forth on Exhibit B, as the same may be required to be modified (subject to Buyer’s consent, which shall not be unreasonably withheld) to conform with requirements of particular jurisdictions and surveys; (c) [****] (d) Evidence of insurance covering all Properties as required pursuant to the Master Lease Agreements, whose effective date shall be no later than the Closing Date; (e) To the extent in Seller’s possession, a certificate of occupancy regarding each Real Property; [****] Redacted in accordance with applicable practice with Autorite des marches financiers (Quebec Securities Commission) (f) Profit and loss statements regarding each The Property and such other financial statements and information as Buyer reasonably shall have requested regarding Seller or the Properties; (g) [****]; (h) Any engineering reports (other than the Site Assessments) in Seller’s possession regarding the Real Properties, including without limitation a description of any deferred maintenance and repairs and an estimate of the cost thereof, and a reliance letter in favor of Buyer for each such report from the person or entity that prepared same; (i) MAI Appraisal (including Land valuation) for each Real Property (each, an “Appraisal”) and a reliance letter in favor of Buyer for each Appraisal from the person or entity that prepared same; (j) UCC, litigation and tax lien searches from the Title Company or, subject to Seller’s reasonable approval, another commercially recognized search company regarding all Properties and Seller; (k) For each Real Property, zoning permits and regulations (if available) and other evidence of proper zoning (e.g. zoning letters or zoning reports), as may be reasonably available to Seller; and if legal non-conforming uses exist, evidence that the improvements may be rebuilt to existing specifications following a casualty or condemnation, as may be reasonably available to Seller; (l) Final “As Built” plans and specifications for each Real Property, if in Seller’s possession; (m) Any governmental “no further action” letters regarding any Real Property, if reasonably available to Seller; (n) [****] (o) All of the following concerning each Property, in each case if material and if in Seller’s possession: any and all studies, data, reports, agreements, licenses, leases, environmental assessments, surveys, reports, documents, plans, maps, and permits (to the extent not already delivered to Buyer pursuant to subsections (a) – (n), above); and (p) Such other information regarding Seller, ACT, or any of the Properties that Buyer reasonably may have requestedDocuments, to the extent such Property Documents are in the possession, custody and control of Seller of the Property's Property Manager which shall be attached as Exhibit E, constitute the following items: (i) The latest ALTA survey showing all improvements, rights of way, easements, dedications, etc.; plats; site plans; and certified as-built building plans, all relating to the Property. (ii) All architectural drawings and specifications, appraisals, zoning, and access documents relating to the Property. (iii) The Permits. (iv) Copies of all casualty, liability and other information is reasonably available insurance policies presently in effect with respect to the Property. (v) Operating statements of income, operating expense and capital expense for the Property as prepared by the Property's hotel manager (affiliated or third party) which have been prepared in the normal course of business for the preceding twelve (12) months, substantially in accordance with generally accepted accounting standards. (vi) All assessments and bills for real estate, personal property and any other taxes affecting the Property and for special assessments for the preceding fiscal year, and a summary of any contested tax assessments. (vii) True, correct and complete copies of the written Contracts and a schedule of the Contracts to be attached hereto as Exhibit E, including without limitation any and all leases and all amendments, formal or informal, side agreements, concession arrangements or other matters related thereto. (viii) Seller's existing title insurance policy for the Property and all amendments, endorsements and exhibits thereto. (ix) A list of all threatened, pending or ongoing claims or lawsuits and all outstanding judgments relating to the Property. (x) Copies of all promissory notes, loan agreements, mortgages and deeds of trust encumbering the Property. (xi) Copies of all engineering and physical inspection reports related to the Property, including but not limited to, those for Hazardous Materials. (xii) Copies of all employment agreements with any employees at the Property. (xiii) Copies of all correspondence with any of the Nevada Gaming Authorities. (xiv) A list of all part-time and full-time employees at the Property. (xv) A complete list of Personal Property (including copies of all warranties and guaranties related thereto) used by or on behalf of Seller in connection with operation and maintenance of the Property, plus a copy of any roof warranty or other warranty in effect with respect to any part of the Property. 3. FEASIBILITY PERIOD

Appears in 1 contract

Samples: Purchase Agreement (MTR Gaming Group Inc)

Property Documents. Seller hereby represents it has delivered to Buyer or otherwise made reasonably available to Buyer, the documents set forth in subsections (a) through To Borrower’s knowledge, (pi) of this Section 3 neither Mortgage Borrower, nor any other party is currently in default (collectively, the “Property Documents”); provided, however, that Buyer acknowledges and agrees that it has, as nor has any notice been given or received with respect to an alleged or current default) under any of the date hereof, received, reviewed terms and approved each of the Phase I Environmental Site Assessments and Sensitive Receptors Surveys prepared by Xxxx Environmental Inc. and dated in February, March and April, 2003 (the “Site Assessments”) and the other Property Documents specified in Schedule 2 attached hereto (collectively, with the Site Assessments, the “Schedule 2 Documents”). Seller, with Buyer’s consent, has engaged directly third parties in connection with the preparation of all title reports, surveys and appraisals and that the scope conditions of any such engagement has been approved by Buyer. Buyer has engaged all other third parties Property Document, (ii) each Property Document remains unmodified and in connection with its acquisition of the Properties. (a) Commitments for title insurance covering each fee estate in each Real Property (collectively “Title Commitments”; each individually a “Title Commitment”) from Title Companyfull force and effect, setting forth the status of title to each Real Property, showing all matters of record affecting each Real Property, together with a true, complete and (iii) Mortgage Borrower’s 00000000.0.XXXXXXXX interest therein has not been assigned pursuant to any assignment which survives the Closing Date except the assignment to Mortgage Lender pursuant to the extent available) legible copy of all documents referred to in each Title CommitmentMortgage Loan Documents; (b) Current ALTA Land Title “As Built” Survey To Borrower’s knowledge, all easements granted pursuant to each Property Document which were to have survived the site preparation and completion of construction (collectively, to the “Surveys”; each individually, a “Survey”) for each Real Property, containing the certification set forth on Exhibit B, as extent that the same may be required to be modified (subject to Buyer’s consenthas been completed), which shall remain in full force and effect and have not be unreasonably withheld) to conform with requirements of particular jurisdictions and surveysbeen released, terminated, extinguished or discharged by agreement or otherwise; (c) [****]All sums due and owing by Mortgage Borrower to the other parties to each Property Document (or by the other parties to each Property Document to Mortgage Borrower) pursuant to the terms of each such Property Document, including without limitation, all sums, charges, fees, assessments, costs, and expenses in connection with any taxes, site preparation and construction, non shareholder contributions, and common area and other property management activities have been paid, are current, and no lien has attached on any Individual Property (or threat thereof been made) for failure to pay any of the foregoing; and (d) Evidence of insurance covering all Properties as required pursuant to To Borrower’s knowledge, the Master Lease Agreementsterms, whose effective date shall be no later than the Closing Date; (e) To the extent conditions, covenants, uses and restrictions contained in Seller’s possession, a certificate of occupancy regarding each Real Property; [****] Redacted in accordance with applicable practice with Autorite des marches financiers (Quebec Securities Commission) (f) Profit and loss statements regarding each Property Document do not conflict in any manner with any terms, conditions, covenants, uses and such other financial statements restrictions contained in any Major Lease or in any agreement between Mortgage Borrower and information as Buyer reasonably shall have requested regarding Seller or the Properties; (g) [****]; (h) Any engineering reports (other than the Site Assessments) in Seller’s possession regarding the Real Propertiesoccupant of any peripheral parcel, including without limitation a description of any deferred maintenance limitation, conditions and repairs and an estimate of the cost thereofrestrictions with respect to kiosk placement, and a reliance letter in favor of Buyer for each such report from the person tenant restrictions (type, location or entity that prepared same; (i) MAI Appraisal (including Land valuation) for each Real Property (each, an “Appraisal”) and a reliance letter in favor of Buyer for each Appraisal from the person or entity that prepared same; (j) UCC, litigation and tax lien searches from the Title Company or, subject to Seller’s reasonable approval, another commercially recognized search company regarding all Properties and Seller; (k) For each Real Property, zoning permits and regulations (if available) and other evidence of proper zoning (e.g. zoning letters or zoning reportsexclusivity), as may be reasonably available to Seller; and if legal non-conforming uses existsale of certain goods or services, evidence that the improvements may be rebuilt to existing specifications following a casualty or condemnation, as may be reasonably available to Seller; (l) Final “As Built” plans and specifications for each Real Property, if in Seller’s possession; (m) Any governmental “no further action” letters regarding any Real Property, if reasonably available to Seller; (n) [****] (o) All of the following concerning each Property, in each case if material and if in Seller’s possession: any and all studies, data, reports, agreements, licenses, leases, environmental assessments, surveys, reports, documents, plans, maps, and permits (to the extent not already delivered to Buyer pursuant to subsections (a) – (n), above); and (p) Such and/or other information regarding Seller, ACT, or any of the Properties that Buyer reasonably may have requested, to the extent such other information is reasonably available to Selleruse restrictions.

Appears in 1 contract

Samples: Mezzanine Loan Agreement (Ashford Hospitality Trust Inc)

Property Documents. As soon after the Effective Date as reasonably practicable through the use of good faith efforts by Seller, Seller hereby represents it has delivered to Buyer shall deliver through a secure website or otherwise made reasonably make available to BuyerPurchaser at the Property, to the extent (and only to the extent) that such items are available and in Seller’s actual possession or in the actual possession of the management company engaged by Seller to manage the Property, the documents set forth in subsections described on Exhibit B attached hereto and made a part hereof for all purposes (a) through (p) of this Section 3 (collectively, the “Property Documents”); provided. Purchaser shall, howeverif requested by Seller, that Buyer acknowledges and agrees that it has, as execute instruments acknowledging receipt of the date hereof, received, reviewed and approved each of the Phase I Environmental Site Assessments and Sensitive Receptors Surveys prepared by Xxxx Environmental Inc. and dated in February, March and April, 2003 (the “Site Assessments”) and the other Property Documents specified in Schedule 2 attached hereto (collectively, with delivered to Purchaser or made available to Purchaser either at the Site Assessments, the “Schedule 2 Documents”). Seller, with Buyer’s consent, has engaged directly third parties Property or via a secure website or any other document delivered or made available to Purchaser in connection with the preparation transaction contemplated hereby. During the Inspection Period (as hereinafter defined), Purchaser may inspect the Property Documents during normal business hours and may photocopy same at Purchaser’s expense. Notwithstanding the foregoing provisions, Seller shall not be obligated to deliver to Purchaser any report described in Exhibit B if the terms of all title reportssuch report restrict Seller from doing so. With respect to any environmental report or other report described in Exhibit B which Seller delivers to Purchaser, surveys Purchaser understands and appraisals agrees that (a) such report shall be delivered to Purchaser for general information purposes only, (b) Purchaser shall not have any right to rely on any report received from Seller and that will not rely thereon, but rather will rely on inspections and reports performed by or on behalf of Purchaser, and (c) Seller shall have absolutely no liability for any inaccuracy in or omission from any report which it delivers to Purchaser. Any failure of Seller to timely deliver any of the scope Property Documents or make available any of the Additional Property Documents (as defined in Exhibit B) will not extend the Inspection Period beyond the period prescribed in Section 3.2 hereof, and Purchaser’s sole and exclusive remedy on account of any such engagement has been approved by Buyer. Buyer has engaged all other third parties in connection with its acquisition failure will be to terminate this Agreement prior to the expiration of the Properties. (a) Commitments for title insurance covering each fee estate in each Real Property (collectively “Title Commitments”; each individually a “Title Commitment”) from Title Company, setting forth the status of title to each Real Property, showing all matters of record affecting each Real Property, together with a true, complete and (to the extent available) legible copy of all documents referred to in each Title Commitment; (b) Current ALTA Land Title “As Built” Survey (collectively, the “Surveys”; each individually, a “Survey”) for each Real Property, containing the certification set forth on Exhibit B, as the same may be required to be modified (subject to Buyer’s consent, which shall not be unreasonably withheld) to conform with requirements of particular jurisdictions and surveys; (c) [****] (d) Evidence of insurance covering all Properties as required pursuant to the Master Lease Agreements, whose effective date shall be no later than the Closing Date; (e) To the extent in Seller’s possession, a certificate of occupancy regarding each Real Property; [****] Redacted Inspection Period in accordance with applicable practice with Autorite des marches financiers (Quebec Securities Commission) (f) Profit and loss statements regarding each the provisions of Section 3.3. Seller makes no representation or warranty, express or implied, as to the accuracy or completeness of the information contained in the Property and such other financial statements and information as Buyer reasonably shall have requested regarding Seller Documents or the Properties; (g) [****]; (h) Any engineering reports (other than the Site Assessments) in Seller’s possession regarding the Real Properties, including without limitation a description of any deferred maintenance and repairs and an estimate of the cost thereof, and a reliance letter in favor of Buyer for each such report from the person or entity that prepared same; (i) MAI Appraisal (including Land valuation) for each Real Additional Property (each, an “Appraisal”) and a reliance letter in favor of Buyer for each Appraisal from the person or entity that prepared same; (j) UCC, litigation and tax lien searches from the Title Company or, subject to Seller’s reasonable approval, another commercially recognized search company regarding all Properties and Seller; (k) For each Real Property, zoning permits and regulations (if available) and other evidence of proper zoning (e.g. zoning letters or zoning reports), as may be reasonably available to Seller; and if legal non-conforming uses exist, evidence that the improvements may be rebuilt to existing specifications following a casualty or condemnation, as may be reasonably available to Seller; (l) Final “As Built” plans and specifications for each Real Property, if in Seller’s possession; (m) Any governmental “no further action” letters regarding any Real Property, if reasonably available to Seller; (n) [****] (o) All of the following concerning each Property, in each case if material and if in Seller’s possession: any and all studies, data, reports, agreements, licenses, leases, environmental assessments, surveys, reports, documents, plans, maps, and permits (to the extent not already delivered to Buyer pursuant to subsections (a) – (n), above); and (p) Such other information regarding Seller, ACT, or any of the Properties that Buyer reasonably may have requested, to the extent such other information is reasonably available to SellerDocuments.

Appears in 1 contract

Samples: Purchase Agreement (Hartman Short Term Income Properties XX, Inc.)

Property Documents. Within ten (10) days after the effective date hereof, Seller hereby represents it has delivered shall make available to Buyer or otherwise made reasonably available for review and copying the following documents pertaining to Buyer, the Property but only to the extent such documents set forth exist in subsections Seller’s files (a) through (p) of this Section 3 (collectively, the “Property Documents”); provided): Surveys, howeversite plans, that Buyer acknowledges and agrees that it hasplats, as of the date hereof, received, reviewed and approved each of the Phase I Environmental Site Assessments and Sensitive Receptors Surveys prepared by Xxxx Environmental Inc. and dated in February, March and April, 2003 (the “Site Assessments”) and the other Property Documents specified in Schedule 2 attached hereto (collectively, with the Site Assessments, the “Schedule 2 Documents”). Seller, with Buyer’s consent, has engaged directly third parties in connection with the preparation of all title reports, surveys and appraisals and that the scope of any such engagement has been approved by Buyer. Buyer has engaged all other third parties in connection with its acquisition of the Properties. (a) Commitments for title insurance covering each fee estate in each Real Property (collectively “Title Commitments”; each individually a “Title Commitment”) from Title Company, setting forth the status of title to each Real Property, showing all matters of record affecting each Real Property, together with a true, complete and (to the extent available) legible copy of all documents referred to in each Title Commitment; (b) Current ALTA Land Title “As Built” Survey (collectively, the “Surveys”; each individually, a “Survey”) for each Real Property, containing the certification set forth on Exhibit B, as the same may be required to be modified (subject to Buyer’s consent, which shall not be unreasonably withheld) to conform with requirements of particular jurisdictions and surveys; (c) [****] (d) Evidence of insurance covering all Properties as required pursuant to the Master Lease Agreements, whose effective date shall be no later than the Closing Date; (e) To the extent in Seller’s possession, a certificate of occupancy regarding each Real Property; [****] Redacted in accordance with applicable practice with Autorite des marches financiers (Quebec Securities Commission) (f) Profit and loss statements regarding each Property and such other financial statements and information as Buyer reasonably shall have requested regarding Seller or the Properties; (g) [****]; (h) Any engineering reports (other than the Site Assessments) in Seller’s possession regarding the Real Properties, including without limitation a description of any deferred maintenance and repairs and an estimate of the cost thereof, and a reliance letter in favor of Buyer for each such report from the person or entity that prepared same; (i) MAI Appraisal (including Land valuation) for each Real Property (each, an “Appraisal”) and a reliance letter in favor of Buyer for each Appraisal from the person or entity that prepared same; (j) UCC, litigation and tax lien searches from the Title Company or, subject to Seller’s reasonable approval, another commercially recognized search company regarding all Properties and Seller; (k) For each Real Property, zoning permits and regulations (if available) and other evidence of proper zoning (e.g. zoning letters or zoning reports), as may be reasonably available to Sellerleases; and if legal non-conforming uses existenvironmental, evidence that structural or other engineering reports; and service contracts in effect on the improvements may be rebuilt to existing specifications following a casualty or condemnationEffective Date. BUYER ACKNOWLEDGES THAT BUYER, as may be reasonably available to Seller; (l) Final “As Built” plans and specifications for each Real PropertyHAVING BEEN GIVEN THE OPPORTUNITY TO INSPECT THE PROPERTY, if in Seller’s possession; (m) Any governmental “no further action” letters regarding any Real PropertyIS RELYING SOLELY ON ITS OWN INVESTIGATION OF THE PROPERTY AND NOT ON ANY INFORMATION PROVIDED OR TO BE PROVIDED BY SELLER. BUYER FURTHER ACKNOWLEDGES THAT NO INDEPENDENT INVESTIGATION OR VERIFICATION HAS BEEN OR WILL BE MADE BY SELLER WITH RESPECT TO ANY INFORMATION SUPPLIED BY SELLER CONCERNING THE PROPERTY, if reasonably available to Seller; (n) [****] (o) All of the following concerning each PropertyAND SELLER MAKES NO REPRESENTATION AS TO THE ACCURACY OR COMPLETENESS OF SUCH INFORMATION, in each case if material and if in Seller’s possession: any and all studiesIT BEING INTENDED BY THE PARTIES THAT BUYER SHALL VERIFY THE ACCURACY AND COMPLETENESS OF SUCH INFORMATION ITSELF. BUYER ACKNOWLEDGES THAT THE DISCLAIMERS, dataAGREEMENTS AND OTHER STATEMENTS SET FORTH IN THIS PARAGRAPH ARE AN INTEGRAL PORTION OF THIS AGREEMENT AND THAT SELLER WOULD NOT AGREE TO SELL THE PROPERTY TO BUYER FOR THE PURCHASE PRICE WITHOUT THE DISCLAIMERS, reportsAGREEMENTS AND OTHER STATEMENTS SET FORTH IN THIS PARAGRAPH, agreementsWHICH DISCLAIMERS, licensesAGREEMENTS, leasesAND OTHER STATEMENTS SHALL SPECIFICALLY SURVIVE THE CLOSING AND SHALL NOT MERGE THEREWITH. THE PROVISIONS OF THIS SECTION 3.03 ARE SUBJECT TO AND SHALL NOT INVALIDATE THE EXPRESS REPRESENTATIONS SET FORTH IN THIS AGREEMENT, environmental assessmentsIF ANY, surveys, reports, documents, plans, maps, and permits (to the extent not already delivered to Buyer pursuant to subsections (a) – (n), above); and (p) Such other information regarding Seller, ACT, or any of the Properties that Buyer reasonably may have requested, to the extent such other information is reasonably available to SellerOR IN THE CLOSING DOCUMENTS.

Appears in 1 contract

Samples: Earnest Money Contract

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Property Documents. Seller hereby represents it has delivered to Buyer or otherwise made reasonably available prior to Buyer, the documents set forth Effective Date copies of all of the following in subsections Seller’s possession (a) through (p) of this Section 3 (collectively, the “Property Documents”) : (i) the Leases, including amendments, addendums or extensions, tenant financial statements or other credit review documents, and lease abstracts (and Seller shall provide Buyer with on-site access during normal business hours to all lease files and other files that affect the income generated by the Project): (ii) a current rent roll; (iii) an existing phase 1 environmental assessments; (iv) copies of the property tax bills for the current and prior year; (v) the Survey; (vi) a copy of Seller’s title insurance policy, together with a current title commitment and copies of all title exceptions (vii) all pending leases, lease proposals and letters of intent; (viii) all service and maintenance contracts and agreements affecting the operation of the Property and all warranties, management (if any), maintenance and brokerage agreements pertaining to the leasing of the Property; (ix) copies of all documents (if any) regarding any pending or ongoing litigation, liens (excluding preliminary lien waivers) or threatened claims, (xii) a list of all personal property on the Property in which Seller has an interest (if any). Buyer shall have until May 15, 2006 (the “Property Inspection Period”) to review the Property Documents and perform a feasibility study with respect to the Property which may include reasonable market and engineering studies, leasing and financial investigations, soils tests, drainage studies, confirmation that all utilities including water, electric, gas, sewer and telephone are available to the Property, environmental investigations, confirmation of zoning, and/or such other non-invasive tests, studies or investigations with respect to the Property as Buyer deems appropriate; provided, however, if Buyer has not objected to the condition of the Property or Property Documents within the Property Inspection Period, the Property and Property Documents shall be deemed approved and except as expressly provided in this Agreement, the Xxxxxxx Money shall be non-refundable. Seller shall cause access to the Property to be available to Buyer and the persons so designated by it and shall afford them the opportunity to inspect and perform any non-intrusive tests upon the Property that Buyer acknowledges deems necessary or appropriate to determine whether the Property is suitable for Buyer’s purposes. If Buyer, after conducting such inspections, investigations, and agrees tests, determines that it hasthe Property or any part thereof or the Property Documents, as are not in Buyer’s sole discretion satisfactory for any reason, then Buyer may elect, at any time on or prior to the end of the date hereof, received, reviewed and approved each of the Phase I Environmental Site Assessments and Sensitive Receptors Surveys prepared by Xxxx Environmental Inc. and dated in February, March and April, 2003 (the “Site Assessments”) and the other Property Documents specified in Schedule 2 attached hereto (collectively, with the Site Assessments, the “Schedule 2 Documents”). Seller, with Buyer’s consent, has engaged directly third parties in connection with the preparation of all title reports, surveys and appraisals and that the scope of any such engagement has been approved by Buyer. Buyer has engaged all other third parties in connection with its acquisition of the Properties. (a) Commitments for title insurance covering each fee estate in each Real Property (collectively “Title Commitments”; each individually a “Title Commitment”) from Title Company, setting forth the status of title to each Real Property, showing all matters of record affecting each Real Property, together with a true, complete and (to the extent available) legible copy of all documents referred to in each Title Commitment; (b) Current ALTA Land Title “As Built” Survey (collectively, the “Surveys”; each individually, a “Survey”) for each Real Property, containing the certification set forth on Exhibit B, as the same may be required to be modified (subject to Buyer’s consent, which shall not be unreasonably withheld) to conform with requirements of particular jurisdictions and surveys; (c) [****] (d) Evidence of insurance covering all Properties as required pursuant to the Master Lease Agreements, whose effective date shall be no later than the Closing Date; (e) To the extent in Seller’s possession, a certificate of occupancy regarding each Real Property; [****] Redacted in accordance with applicable practice with Autorite des marches financiers (Quebec Securities Commission) (f) Profit and loss statements regarding each Property and such other financial statements and information as Buyer reasonably shall have requested regarding Seller or the Properties; (g) [****]; (h) Any engineering reports (other than the Site Assessments) in Seller’s possession regarding the Real Properties, including without limitation a description of any deferred maintenance and repairs and an estimate of the cost thereof, and a reliance letter in favor of Buyer for each such report from the person or entity that prepared same; (i) MAI Appraisal (including Land valuation) for each Real Property (each, an “Appraisal”) and a reliance letter in favor of Buyer for each Appraisal from the person or entity that prepared same; (j) UCC, litigation and tax lien searches from the Title Company or, subject to Seller’s reasonable approval, another commercially recognized search company regarding all Properties and Seller; (k) For each Real Property, zoning permits and regulations (if available) and other evidence of proper zoning (e.g. zoning letters or zoning reports), as may be reasonably available to Seller; and if legal non-conforming uses exist, evidence that the improvements may be rebuilt to existing specifications following a casualty or condemnation, as may be reasonably available to Seller; (l) Final “As Built” plans and specifications for each Real Property, if in Seller’s possession; (m) Any governmental “no further action” letters regarding any Real Property, if reasonably available to Seller; (n) [****] (o) All of the following concerning each Property, in each case if material and if in Seller’s possession: any and all studies, data, reports, agreements, licenses, leases, environmental assessments, surveys, reports, documents, plans, maps, and permits (to the extent not already delivered to Buyer pursuant to subsections (a) – (n), above); and (p) Such other information regarding Seller, ACT, or any of the Properties that Buyer reasonably may have requestedInspection Period, to the extent such other information is reasonably available cancel this Agreement by written notice to SellerSeller and Escrow Agent.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Cornerstone Core Properties REIT, Inc.)

Property Documents. Seller Other than to the extent the same would not reasonably be expected to have a material adverse effect on any Individual Property affected thereby, Borrower hereby represents it has delivered and warrants to Buyer or otherwise made reasonably available Lender the following with respect to Buyer, the documents set forth in subsections (a) through (p) of this Section 3 (collectively, the “Property Documents”); provided, however, that Buyer acknowledges and agrees that it has, as of the date hereof, received, reviewed and approved each of the Phase I Environmental Site Assessments and Sensitive Receptors Surveys prepared by Xxxx Environmental Inc. and dated in February, March and April, 2003 (the “Site Assessments”) and the other Property Documents specified in Schedule 2 attached hereto (collectively, with the Site Assessments, the “Schedule 2 Documents”). Seller, with Buyer’s consent, has engaged directly third parties in connection with the preparation of all title reports, surveys and appraisals and that the scope of any such engagement has been approved by Buyer. Buyer has engaged all other third parties in connection with its acquisition of the Properties.: (a) Commitments for title insurance covering each fee estate in each Real Property (collectively “Title Commitments”; each individually Borrower or Operating Lessee, as applicable, is a “Title Commitment”) from Title Company, setting forth the status of title party to each Real PropertyProperty Document and each Property Document is, showing all matters of record affecting each Real Propertyto Borrower’s knowledge, together with a truein full force and effect and to Borrower’s and Operating Lessee’s knowledge has not been amended or modified and Borrower’s or Operating Lessee’s, complete and (as applicable, interest therein has not been assigned pursuant to any assignment which survives the Closing Date except the assignment to Lender pursuant to the extent available) legible copy of all documents referred to in each Title CommitmentLoan Documents; (b) Current ALTA Land Title “As Built” Survey (collectivelyto the best of Borrower’s and Operating Lessee’s knowledge, the “Surveys”; each individuallyProperty Document is in full compliance with all applicable local, a “Survey”) for each Real Propertystate and federal laws, containing the certification set forth on Exhibit B, as the same may be required to be modified (subject to Buyer’s consent, which shall not be unreasonably withheld) to conform with requirements of particular jurisdictions rules and surveysregulations; (c) [****]to the best of Borrower’s and Operating Lessee’s knowledge, neither Borrower nor Operating Lessee, is in default under any Property Document; (d) Evidence neither Borrower nor Operating Lessee has any knowledge of insurance covering all Properties as required pursuant any current or outstanding notices of termination or default given to the Master Lease Agreements, whose effective date shall be no later than the Closing Dateor by Borrower with respect to any Property Document; (e) To except as disclosed in writing to Lender, neither Borrower or Operating Lessee, as applicable, nor, to the extent best of Borrower’s knowledge, any other party to any Property Document has performed any work pursuant to such Property Document, the cost of which Borrower or Operating Lessee, as applicable, or, to Borrower’s and Operating Lessee’s actual knowledge, such other party is or will be entitled to charge in Seller’s possessionwhole or in part to Borrower or Operating Lessee, a certificate as applicable, under the provisions of occupancy regarding each Real Property; [****] Redacted such Property Document except in the ordinary course of operation in accordance with applicable practice with Autorite des marches financiers (Quebec Securities Commission)such Property Document; (f) Profit to the best of Borrower’s and loss statements regarding each Operating Lessee’s knowledge, there are no set-offs, claims, counterclaims or defenses being asserted in writing, if any, required under any Property and such other financial statements and information as Buyer reasonably shall have requested regarding Seller Document or otherwise known by Borrower or Operating Lessee for the Propertiesenforcement of the obligations under any Property Document; (g) [****];neither Borrower nor Operating Lessee has requested that a matter be submitted to arbitration under any Property Document; and (h) Any engineering reports (other than the Site Assessments) in Sellerto Borrower’s possession regarding the Real Propertiesand Operating Lessee’s knowledge, including without limitation a description of any deferred maintenance and repairs and an estimate of the cost thereof, and a reliance letter in favor of Buyer for each such report all amounts due from the person Borrower or entity that prepared same; (i) MAI Appraisal (including Land valuation) for each Real Property (each, an “Appraisal”) and a reliance letter in favor of Buyer for each Appraisal from the person or entity that prepared same; (j) UCC, litigation and tax lien searches from the Title Company or, subject to Seller’s reasonable approval, another commercially recognized search company regarding all Properties and Seller; (k) For each Real Property, zoning permits and regulations (if available) and other evidence of proper zoning (e.g. zoning letters or zoning reports)Operating Lessee, as may be reasonably available to Seller; and if legal non-conforming uses existapplicable, evidence that under the improvements may be rebuilt to existing specifications following a casualty or condemnation, as may be reasonably available to Seller; (l) Final “As Built” plans and specifications for each Real Property, if in Seller’s possession; (m) Any governmental “no further action” letters regarding any Real Property, if reasonably available to Seller; (n) [****] (o) All of the following concerning each Property, in each case if material and if in Seller’s possession: any and all studies, data, reports, agreements, licenses, leases, environmental assessments, surveys, reports, documents, plans, maps, and permits (Property Document have been paid to the extent not already delivered to Buyer pursuant to subsections (a) – (n), above); and (p) Such other information regarding Seller, ACT, or any of the Properties that Buyer reasonably may have requested, they are payable to the extent such other information is reasonably available to Sellerdate hereof.

Appears in 1 contract

Samples: Loan Agreement (BRE Select Hotels Corp)

Property Documents. Not more than five (5) business days following the date hereof, Seller hereby represents it has delivered to Buyer or otherwise made reasonably available shall deliver to Buyer, the documents set forth in subsections (a) through (pn) of this Section 3 (collectively, the “Property Documents”); provided, howeverif available, that Buyer acknowledges or with respect to documents not in Seller’s possession and agrees that it hasreferenced as subsections (a), as of the date hereof(b), received, reviewed and approved each of the Phase I Environmental Site Assessments and Sensitive Receptors Surveys prepared by Xxxx Environmental Inc. and dated in February, March and April, 2003 (the “Site Assessments”) and the other Property Documents specified in Schedule 2 attached hereto (collectively, with the Site Assessments, the “Schedule 2 Documents”c). Seller, with Buyer’s consent, has engaged directly third parties (including, without limitation, appraisers, environmental consultants, Title Company and surveyors), at Buyer’s request, in connection with the preparation of all title reports, surveys and appraisals and that the Property Documents. The scope of any such engagement has been approved by Buyer. Buyer has engaged all other with third parties in connection with its acquisition of the Propertiesshall be subject to Buyer’s prior written approval (not to be unreasonably withheld). (a) Commitments Commitment for title insurance covering each the fee estate in each the Real Property and leasehold estate with respect to the Parking Area Lease (collectively “Title Commitments”; each individually a “Title Commitment”) from Title Company, setting forth the status of title to each the Real Property, showing all matters of record affecting each the Real Property, together with a true, complete and (to the extent available) legible copy of all documents referred to in each the Title Commitment; (b) Current ALTA Land Title “As Built” Survey (collectively, the “Surveys”; each individually, a “Survey”) for each the Real Property, containing the certification set forth on Exhibit B, as the same may be required to be modified (subject to Buyer’s consent, which shall not be unreasonably withheld) to conform with requirements of particular jurisdictions and surveys; (c) [****]Phase I site assessment (to ASTM Guidelines) for the Real Property (the “Site Assessments”), dated no earlier than six (6) months prior to the Closing Date (as defined below); a reliance letter in favor of Buyer for the Site Assessment from the person or entity that prepared same; and all Phase II and other environmental assessment and remediation reports in the possession or control of Seller regarding the Real Property and a reliance letter in favor of Buyer from the person or entity that prepared same; (d) Evidence of insurance covering all Properties the Property as required pursuant to the Master Lease Agreements, whose effective date shall be no later than the Closing DateAgreement; (e) To Use permit and any additional required governmental permits or licenses regarding the extent in Seller’s possessionconstruction, a certificate occupancy and operation of the Property; (f) Certificate of occupancy regarding each the Real Property; [****] Redacted in accordance with applicable practice with Autorite des marches financiers (Quebec Securities Commission); (fg) Profit and loss statements and balance sheets (consolidated and consolidating) for Seller, and profit and loss statements regarding the Property, each Property covering the trailing twelve (12) month period, and for calendar years ending 2005, 2004 and 2003, and such other financial statements and information as Buyer reasonably shall have requested regarding Seller or and the Properties; (g) [****]Property; (h) Any engineering reports (other than the Site Assessments) in Seller’s possession or control regarding the Real Properties, including without limitation a description of any deferred maintenance and repairs and an estimate of the cost thereof, and a reliance letter in favor of Buyer for each such report from the person or entity that prepared same; (i) MAI Appraisal (including Land valuation) for each Real Property (each, an “Appraisal”) and a reliance letter in favor of Buyer for each Appraisal from the person or entity that prepared same; (j) UCC, litigation and tax lien searches from the Title Company or, subject to Seller’s reasonable approval, another a commercially recognized search company regarding all Properties the Property and Seller; (kj) For each Real Property, zoning Zoning permits and regulations (if available) and other evidence of proper zoning (e.g. zoning letters or zoning reports), as may be reasonably available to Selleravailable; and if legal non-conforming uses exist, evidence that the improvements may be rebuilt to existing specifications following a casualty or condemnation, as may be reasonably available to Seller; (lk) Final “As Built” plans and specifications for each the Real Property, if in Seller’s possession; (ml) Any governmental “no further action” letters regarding any Real Property, if reasonably available to Seller; (n) [****] (o) All of the following concerning each Property, in each case if material and if in Seller’s possession: any and all studies, data, reports, agreements, licenses, leases, environmental assessments, surveys, reports, documents, plans, maps, and permits in Seller’s possession or control concerning the Property (to the extent not already delivered to Buyer pursuant to subsections (a) - (nk), above); and (pm) Such other information regarding Seller, ACT, Seller or any of the Properties Property that Buyer reasonably may have requested, to the extent such other information is reasonably available to Seller.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Shells Seafood Restaurants Inc)

Property Documents. Seller hereby represents it has delivered to Buyer or otherwise made reasonably available to BuyerLender shall have received, at Borrower's ------------------ sole cost and expense, the documents set forth following documents, in subsections form and substance reasonably satisfactory to Lender: (ai) through (p) a copy of this Section 3 (collectivelythe Ground Lease and all amendments thereto, the “Property Documents”); provided, however, that Buyer acknowledges and agrees that it has, certified by Managing General Partner as of the date hereof, received, reviewed and approved each of the Phase I Environmental Site Assessments and Sensitive Receptors Surveys prepared by Xxxx Environmental Inc. and dated in February, March and April, 2003 (the “Site Assessments”) and the other Property Documents specified in Schedule 2 attached hereto (collectively, with the Site Assessments, the “Schedule 2 Documents”). Seller, with Buyer’s consent, has engaged directly third parties in connection with the preparation of all title reports, surveys and appraisals and that the scope of any such engagement has been approved by Buyer. Buyer has engaged all other third parties in connection with its acquisition of the Properties. (a) Commitments for title insurance covering each fee estate in each Real Property (collectively “Title Commitments”; each individually a “Title Commitment”) from Title Company, setting forth the status of title to each Real Property, showing all matters of record affecting each Real Property, together with a true, complete and (to the extent available) legible copy of all documents referred to in each Title Commitment; (b) Current ALTA Land Title “As Built” Survey (collectively, the “Surveys”; each individually, a “Survey”) for each Real Property, containing the certification set forth on Exhibit B, as the same may be required to be modified (subject to Buyer’s consent, which shall not be unreasonably withheld) to conform with requirements of particular jurisdictions and surveys; (c) [****] (d) Evidence of insurance covering all Properties as required pursuant to the Master Lease Agreements, whose effective date shall be no later than the Closing Date; (eii) To the extent in Seller’s possession, a certificate of occupancy regarding each Real Property; [****] Redacted in accordance with applicable practice with Autorite des marches financiers (Quebec Securities Commission) (f) Profit and loss statements regarding each Property the landlord under the Ground Lease as to the absence of defaults under the Ground Lease and such other financial statements and information matters as Buyer reasonably shall have requested regarding Seller or the PropertiesLender may request; (giii) [****]an update, dated not more than thirty (30) days prior to the date hereof, of that certain plat of survey dated July 29, 1996, prepared by Xxxxxx X. Xxxxxx & Associates, Ltd., as job no. 960577 (the "Original Survey") certifying to Lender and the title insurer that there have been no changes therefrom; (hiv) Any engineering reports (other than the Site Assessments) evidence of insurance referred to in Seller’s possession regarding the Real Properties, including without limitation a description of any deferred maintenance and repairs and an estimate of the cost thereof, and a reliance letter in favor of Buyer for each such report from the person or entity that prepared sameMortgage; (v) ALTA 1990 Loan Policy of Title Insurance dated as of the closing date for the restructured loan subject to no additional title exceptions and confirming the continued first priority of the loan documents, including all endorsements previously obtained and, in addition, endorsements re (i) MAI Appraisal deletion of creditors' rights, (including Land valuationii) no joint venture, (iii) usury and (iv) "participation interest." (vi) current Uniform Commercial Code searches made in the Office of the Secretary of State of the State of Illinois, the Office of the County Recorder for each Real Property (eachXxxx County, an “Appraisal”) Illinois, the Office of the Secretary of State of Maryland, the Office of the Secretary of State of Rhode Island and a reliance letter in favor of Buyer for each Appraisal from such other places as Lender may specify, covering Borrower and the person General Partners showing no filings relating to, or entity that prepared samewhich could relate to, the Improvements other than those made hereunder or under the Original Loan; (jvii) UCCcopies of all Governmental Approvals, litigation environmental permits and tax lien searches from licenses, building permits, certificates of occupancy, liquor licenses and other licenses and permits relating to the Title Company or, subject to Seller’s reasonable approval, another commercially recognized search company regarding all Properties and SellerProperty; (kviii) For each Real The Personal Property Inventory or similar listing of all the personal property located at the Property, zoning permits and regulations (if available) and other evidence of proper zoning (e.g. zoning letters or zoning reports), as may be reasonably available to Seller; and if legal non-conforming uses exist, evidence that the improvements may be rebuilt to existing specifications following a casualty or condemnation, as may be reasonably available to Seller; (lix) Final “As Built” plans and specifications for each Real Property, if in Seller’s possessionAn estoppel certificate from the Manager (the "Manager's Estoppel"); (mx) Any governmental “no further action” letters regarding any Real PropertyAn estoppel certificate from the ground lessor under the Ground Lease, if reasonably available dated not more than seven (7) days prior to Sellerthe date hereof (the "Ground Lessor Estoppel"); (nxi) [****]A Reaffirmation of the Foreclosure Guaranty (the "Foreclosure Guaranty Reaffirmation") executed by the General Partner; (oxii) All A Reaffirmation of Environmental Indemnification Agreement, executed by Host Marriott (the following concerning each Property"Reaffirmation of Environmental Indemnification Agreement"); (xiii) A letter from Host Marriott, in each case if material form reasonably satisfactory to Lender that the Debt Service Agreement has expired, that no sums are owing by the Borrower in connection therewith and if that no mortgages or other security have been furnished by the Borrower to Host Marriott in Seller’s possession: any and all studies, data, reports, agreements, licenses, leases, environmental assessments, surveys, reports, documents, plans, maps, and permits (connection therewith with respect to the extent not already delivered to Buyer pursuant to subsections (a) – (n), above)Property; and (pxiv) Such other information regarding Sellernotices, ACTfilings, tax returns and other instruments as shall be necessary to record or any give notice of the Properties that Buyer reasonably may have requestedliens, to the extent such other information is reasonably available to Sellersecurity interest and assignments contemplated herein.

Appears in 1 contract

Samples: Loan Agreement (Mutual Benefit Chicago Marriott Suite Hotel Partners L P)

Property Documents. Within five (5) business days of the Effective Date ("Document Delivery Date"), Seller hereby represents it has shall deliver or cause to be delivered to Buyer or otherwise made reasonably available to Buyer, the documents set forth in subsections (following: a) through (pCopies of Seller's existing Owner's Title Policy, or Abstract, for the Property, with copies of its underlying documents, if in Seller's possession; b) of this Section 3 (collectively, the “Property Documents”); provided, however, that Buyer acknowledges and agrees that it has, as A complete copy of the date hereofLease and any amendments thereto, receivedincluding but not limited to amendments, reviewed assignments and approved each assumption of lease, and/or letter agreements, commencement agreement, memorandum of lease, project acceptance letter (wherein Tenant accepts possession of the Phase I Environmental Site Assessments and Sensitive Receptors Surveys prepared by Xxxx Environmental Inc. and dated in Februaryproperty, March and Aprilif Tenant shall have issued the same or similar), 2003 (guaranties of the “Site Assessments”) lease, if any, and the other Property Documents specified most recent tenant estoppel currently in Schedule 2 attached hereto (collectivelySeller's possession; c) If in Seller's possession, with any zoning information concerning the Site Assessments, the “Schedule 2 Documents”). Seller, with Buyer’s consent, has engaged directly third parties in connection with the preparation of all title reports, surveys and appraisals and that the scope of any such engagement has been approved by Buyer. Buyer has engaged all other third parties in connection with its acquisition current zoning of the Properties.Property; (ad) Commitments for title insurance covering each fee estate in each Real Property (collectively “Title Commitments”; each individually a “Title Commitment”) from Title Company, setting forth the status of title to each Real Property, showing all matters of record affecting each Real Property, together with a true, complete and (to the extent available) legible A copy of all documents referred to the soils report, if in each Title CommitmentSeller's possession; (b) Current ALTA Land Title “As Built” Survey (collectively, the “Surveys”; each individually, a “Survey”) for each Real Property, containing the certification set forth on Exhibit B, as the same may be required to be modified (subject to Buyer’s consent, which shall not be unreasonably withheld) to conform with requirements of particular jurisdictions and surveys; (c) [****] (d) Evidence of insurance covering all Properties as required pursuant to the Master Lease Agreements, whose effective date shall be no later than the Closing Date; (e) To the extent in Seller’s possession, a certificate of occupancy regarding each Real Property; [****] Redacted in accordance with applicable practice with Autorite des marches financiers (Quebec Securities Commission) (f) Profit and loss statements regarding each Property and such other financial statements and information as Buyer reasonably shall have requested regarding Seller or the Properties; (g) [****]; (h) Any engineering reports (other than the Site Assessments) in Seller’s possession regarding the Real Properties, including without limitation a description of any deferred maintenance and repairs and an estimate Copies of the cost thereof, and a reliance letter in favor of Buyer for each such report from the person or entity that prepared same; (i) MAI Appraisal (including Land valuation) for each Real Property (each, an “Appraisal”) and a reliance letter in favor of Buyer for each Appraisal from the person or entity that prepared same; (j) UCC, litigation and tax lien searches from the Title Company or, subject to Seller’s reasonable approval, another commercially recognized search company regarding all Properties and Seller; (k) For each Real Property, zoning permits and regulations (if available) and other evidence of proper zoning (e.g. zoning letters or zoning reports), as may be reasonably available to Seller; and if legal non-conforming uses exist, evidence that the improvements may be rebuilt to existing specifications following a casualty or condemnation, as may be reasonably available to Seller; (l) Final “As Built” final building plans and specifications for each Real Propertythe improvements and copies of any evidence that Landlord has delivered and Tenant has approved such; f) A copy of an MAI appraisal, if in Seller’s 's possession; (mg) Any governmental “no further action” letters regarding any Real A copy of the most recent real estate tax statement for the Property, if reasonably available to Seller; (nh) [****] (o) All Copies of the following concerning each Property, in each case if material and if in Seller’s possession: any and all studiescertificates, datapermits, reportslicenses and other authorizations of any governmental body or authority which are necessary to permit the use and occupancy of the Improvements; i) Copies of any and all warranties respecting construction of the improvements, agreementsincluding but not limited to the roof, licensesHVAC system, leasesstructural, environmental assessments, surveys, reports, documents, plans, mapsplumbing or electrical that have not expired by their terms, and permits (assignments thereof to Tenant, issued to or required to be provided to Tenant as designated in the Lease, if any. Buyer will require any and all warranties, which have not expired and have not been transferred to Tenant, to be transferred to Buyer on the Closing Date. In the event the warranties are unable to be transferred to Buyer on the Closing Date, Seller shall provide Buyer with a letter of undertaking wherein Seller agrees, at Seller's expense, to transfer the warranties in Buyer's name or to obtain consents to the extent transfer of warranties, if such transfer is not already delivered to Buyer pursuant to subsections (aallowed; j) – (n)A copy of the Certificate of Occupancy from the governing municipality; k) A copy of the existing store sales of the Property for the last six months, above)and if currently in Seller's possession, the store sales numbers for the last three years, or the number of years the store has been open if less than three years; and l) A rent accounting for the last twelve (p12) Such other information regarding Seller, ACT, months showing when Seller received each check from Tenant or any the number of months the Properties that Buyer reasonably may have requested, to the extent such other information is reasonably available to Seller.lease has been in effect if less than twelve (12)

Appears in 1 contract

Samples: Assignment and Assumption of Purchase and Sale Agreement (Aei Income & Growth Fund Xxii LTD Partnership)

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