Property Specific Representations. (a) Borrower has good, marketable, insurable and indefeasible fee simple, or leasehold (as applicable) title to the Project, subject to no Liens or other encumbrances except those contained in the Title Policy, and all of the encumbrances set forth therein are in full force and effect and there are no defaults thereunder.
Property Specific Representations. (a) The Mortgaged Property is free from material delinquent water charges and sewer rents;
Property Specific Representations. (1) Neither the Project nor any part thereof is now damaged or injured as a result of any fire, explosion, accident, flood or other casualty.
Property Specific Representations. The management agreement for the Project is in full force and effect and there is no default or violation by any party thereunder.
Property Specific Representations. The management agreement for the Project (i) is in full force and effect, (ii) there is no default or violation by any party thereunder, and (iii) provides for a management fee of not more than 4% of rental collections.
Property Specific Representations. With respect to the Property located in Freeport, New York, the Lower Tier Entity has completed all development, the Village of Freeport has issued a certificate of completion with respect to the Property and no municipal consents are required with respect to the transfers and transactions contemplated hereby. With respect to the Property located in Merrick, New York, no letter of credit or cash collateral has been posted with respect to the Existing Debt encumbering such Property.
Property Specific Representations
