Common use of REAL ESTATE; LEASEHOLD PROPERTY Clause in Contracts

REAL ESTATE; LEASEHOLD PROPERTY. Lender shall have received an ALTA mortgagee's policy of title insurance (ALTA Revised 1987 Form) in favor of Lender with respect to each parcel of Real Estate, issued by a title company and in an amount showing that the applicable Borrower or Subsidiary of a Borrower has good and marketable title to each such parcel of Real Estate and insuring that the Mortgage covering such parcel constitutes a valid Lien on such Borrower's or Subsidiary's interest in such parcel, subject only to Permitted Prior Liens. Each policy shall insure over all survey and other general exceptions contained therein and shall include such affirmative endorsements as may be required by Lender, including, without limitation, comprehensive endorsement no. 1, contiguity (if applicable), usury, doing business, variable rate, tie-in, restrictions (where applicable), encroachment (where applicable), 3.1 zoning (including parking), last dollar, tax parcel, survey, location, access and future advances. Lender shall have received copies of and found satisfactory the provisions of each document referred to in each such policy.

REAL ESTATE; LEASEHOLD PROPERTY. Lender shall have received an ALTA mortgagee's policy of title insurance (ALTA Revised 1987 Form) in favor of Lender with respect to each parcel of Real Estate, issued by a title company and in an amount showing that Borrower or the applicable Borrower or Subsidiary of a Borrower has good and marketable title to each such parcel of Real Estate and insuring that the Mortgage covering such parcel constitutes a valid Lien on such Borrower's or such Subsidiary's interest in such parcel, subject only to Permitted Prior Liens. Each policy shall insure over all survey and other general exceptions contained therein and shall include such affirmative endorsements as may be required by Lender, including, without limitation, comprehensive endorsement no. 1, contiguity (if 29 37 applicable), usury, doing business, variable rate, tie-in, restrictions (where applicable), encroachment (where applicable), 3.1 zoning (including parking), last dollar, tax parcel, survey, location, access and future advances. Lender shall have received copies of and found satisfactory the provisions of each document referred to in each such policy.

REAL ESTATE; LEASEHOLD PROPERTY. Lender shall have received an ALTA mortgagee's policy of title insurance (ALTA Revised 1987 Form) in favor of Lender with respect to each parcel of Real Estate, issued by a title company and in an amount showing that Borrower or the applicable Borrower or Subsidiary of a Borrower has good and marketable title to each such parcel of Real Estate and insuring that the Mortgage covering such parcel constitutes a valid Lien on such Borrower's or such Subsidiary's interest in such parcel, subject only to Permitted Prior Liens. Each policy shall insure over all survey and other general exceptions contained therein and shall include such affirmative endorsements as may be required by Lender, including, without limitation, comprehensive endorsement no. 1, contiguity (if applicable), usury, doing business, variable rate, tie-in, restrictions (where applicable), encroachment (where applicable), 3.1 zoning (including parking), last dollar, tax parcel, survey, location, access and future advances. Lender shall have received copies of and found satisfactory the provisions of each document referred to in each such policy.

REAL ESTATE; LEASEHOLD PROPERTY. Lender FINOVA shall have received ------------------------------- an ALTA mortgagee's policy of title insurance (ALTA Revised 1987 Form) in favor of Lender FINOVA with respect to each parcel of Real Estate, issued by a title company and in an amount showing that the applicable Borrower or Subsidiary of a Borrower has good and marketable title to each such parcel of Real Estate and insuring that the Mortgage covering such parcel constitutes a valid Lien on such Borrower's or Subsidiary's interest in such parcel, subject only to Permitted Prior Liens. Each policy shall insure over all survey and other general exceptions contained therein and shall include such affirmative endorsements as may be required by LenderFINOVA, including, without limitation, comprehensive endorsement no. 1, contiguity (if applicable), usury, doing business, variable rate, tie-in, restrictions (where applicable), encroachment (where applicable), 3.1 zoning (including parking), last dollar, tax parcel, survey, location, access and future advances. Lender FINOVA shall have received copies of and found satisfactory the provisions of each document referred to in each such policy.