Common use of Real Estate Matters Clause in Contracts

Real Estate Matters. (a) With respect to each parcel of real property owned by the Borrower or any of its Subsidiaries, to the extent requested by the Administrative Agent, the Borrower or such Subsidiary shall, with respect to real property owned or to be acquired as of the Closing Date on or prior to the Closing Date, and, with respect to real property thereafter acquired, promptly after acquisition thereof, have executed and delivered a first priority mortgage or deed of trust, in form and substance satisfactory to the Administrative Agent, covering such parcel of real property. With respect to each parcel of real property leased by the Borrower or any of its Subsidiaries, to the extent requested by the Administrative Agent, the Borrower or such Subsidiary shall (on or prior to the Closing Date with respect to leases held or to be acquired as of the Closing Date and, with respect to leases thereafter acquired, promptly after acquisition thereof) have executed and delivered a first priority leasehold mortgage or collateral assignment of lease, in form and substance satisfactory to the Administrative Agent, covering such leasehold interest. Such mortgages, deeds of trust, leasehold mortgages and collateral assignments of leases may be referred to hereinafter collectively as the "Mortgages". Each Mortgage shall have been duly recorded, and the Borrower shall have paid all taxes, fees or charges incurred in connection with the execution or recording thereof. (b) The Borrower shall have procured and delivered to the Administrative Agent a commitment from a title insurance company satisfactory to the Administrative Agent for an ALTA mortgagee's policy of title insurance (Form 1970 if available, or 1984 or 1990 with 1970 Endorsement) covering each parcel of real estate owned by the Borrower or any of its Subsidiaries which is subject to a Mortgage, which policy shall be for the benefit of the Administrative Agent on behalf of the Banks and satisfactory to the Administrative Agent and shall insure that such Mortgage is a valid first mortgage lien on the property covered thereby. Such policy shall, to the extent available and appropriate: (i) insure title to the real property and all recorded easements benefiting such real property, (ii) contain an "Extended Coverage Endorsement" insuring over the general exceptions contained customarily in such policy, (iii) contain an endorsement insuring that the real property described in the title insurance policy is the same real estate as shown on the survey delivered with respect to such property, (iv) contain an endorsement insuring that each street adjacent to the real property is a public street and that there is direct and unencumbered pedestrian and vehicular access to such street from the real property, (v) if the real property consists of more than one record parcel, contain a "contiguity" endorsement, if applicable, insuring that all of the record parcels are contiguous to one another, (vi) contain appropriate endorsements insuring against encroachments, and (vii) contain a commercial revolving line of credit endorsement insuring that advances made subsequent to the date of the title insurance policy are included in the title coverage, not to exceed the face amount of the title policy. No title indemnities shall be established in connection with the issuance of the aforesaid lender's title insurance policy. (c) With respect to each parcel of real property owned by the Borrower or any of its Subsidiaries which is subject to a Mortgage, the Borrower shall have procured and delivered to the Administrative Agent evidence as to whether such parcel of property is located within a flood hazard area for purpose of the National Flood Insurance Act of 1968, as amended. (d) The Borrower shall obtain from each lessor under a lease, in respect of which the Borrower or any of its Subsidiaries has granted to the Administrative Agent a Mortgage or collateral assignment, written consent to such grant in form and substance satisfactory to the Administrative Agent. (e) The Borrower shall have provided to the Administrative Agent copies of (i) phase I environmental surveys, acceptable to the Administrative Agent, conducted by a company acceptable to the Administrative Agent, with respect to each parcel of real estate acquired pursuant to the Busse Purchase Agreement which is subjexx xx a Mortgage, (ii) to the extent available, all environmental surveys or audits performed during the past five (5) years in connection with each of the parcels of real estate which is subject to a Mortgage, and the results of any existing search of the public records of the authorities in the relevant jurisdictions responsible for environmental matters with respect to any proceeding or action affecting any parcel of real estate which is subject to a Mortgage and (iii) such other evidence concerning compliance (both past and present) with Environmental Laws by the Borrower and its Subsidiaries as the Administrative Agent may request. The results of each phase I environmental survey shall be satisfactory to the Administrative Agent. (f) The Administrative Agent shall have received a survey (collectively, the "Surveys") of each parcel of real estate acquired pursuant to the Busse Purchase Agreement or the Like-Kixx Xxchange Agreement which is the subject of a Mortgage, which survey shall be made in accordance with the "Minimum Standard Detail Requirements for ALTA/ACSM Land Title Surveys" established and adopted by the American Land Title Associated and American Congress on Surveying and Mapping in 1992, and meeting the accuracy requirement of an "Urban" survey as defined therein, showing all buildings and other improvements, if any, all encroachments, if any, all set-back lines, if any, and all areas affected by any easements or other instruments of record, if any (the recording data in respect of which shall be marked on the survey), containing metes and bounds description of such parcel, setting forth the flood zone designations, if any, in which such parcel is located.

Real Estate Matters. (a) With respect to each parcel of real property owned by the Borrower or any of its Subsidiaries, to the extent requested by the Administrative Agent, the Borrower or such Subsidiary shall, shall (on or prior to the Closing Date with respect to real property owned or to be acquired as of the Closing Date on or prior to the Closing Date, and, with respect to real property thereafter acquired, promptly after acquisition thereof, ) have executed and delivered a first priority mortgage or deed of trust, in form and substance satisfactory to the Administrative Agent, covering such parcel of real property. With respect to each parcel of real property leased by the Borrower or any of its Subsidiaries, to the extent requested by the Administrative Agent, the Borrower or such Subsidiary shall (on or prior to the Closing Date with respect to leases held or to be acquired as of the Closing Date and, with respect to leases thereafter acquired, promptly after acquisition thereof) have executed and delivered a first priority leasehold mortgage or collateral assignment of lease, in form and substance satisfactory to the Administrative Agent, covering such leasehold interest. Such mortgages, deeds of trust, leasehold mortgages and collateral assignments of leases may be referred to hereinafter collectively as the "Mortgages". Each Mortgage shall have been duly recorded, and the Borrower shall have paid all taxes, fees or charges incurred in connection with the execution or recording thereof. (b) The Borrower shall have procured and delivered to the Administrative Agent a commitment from a title insurance company satisfactory to the Administrative Agent for an ALTA mortgagee's policy of title insurance (Form 1970 if available, or 1984 or 1990 with 1970 Endorsement) covering each parcel of real estate owned by the Borrower or any of its Subsidiaries which is subject to a Mortgage, which policy shall be for the benefit of the Administrative Agent on behalf of the Banks and satisfactory to the Administrative Agent and shall insure that such Mortgage is a valid first mortgage lien on the property covered thereby. Such policy shall, to the extent available and appropriate: (i) insure title to the real property and all recorded easements benefiting benefitting such real property, (ii) contain an "Extended Coverage Endorsement" insuring over the general exceptions contained customarily in such policy, (iii) contain an endorsement insuring that the real property described in the title insurance policy is the same real estate as shown on the survey delivered with respect to such property, (iv) contain an endorsement insuring that each street adjacent to the real property is a public street and that there is direct and unencumbered pedestrian and vehicular access to such street from the real property, (v) if the real property consists of more than one record parcel, contain a "contiguity" endorsement, if applicable, insuring that all of the record parcels are contiguous to one another, (vi) contain appropriate endorsements insuring against encroachments, encroachments and (vii) contain a commercial revolving line of credit endorsement insuring that advances made subsequent to the date of the title insurance policy are included in the title coverage, not to exceed the face amount of the title policy. No title indemnities shall be established in connection with the issuance of the aforesaid lender's title insurance policy. (c) With respect to each parcel of real property owned by the Borrower or any of its Subsidiaries which is subject to a Mortgage, the Borrower shall have procured and delivered to the Administrative Agent evidence as to whether such parcel of property is located within a flood hazard area for purpose purposes of the National Flood Insurance Act of 1968, as amended. (d) The Borrower shall obtain from each lessor under a lease, in respect of which the Borrower or any of its Subsidiaries has granted to the Administrative Agent a Mortgage or collateral assignment, written consent to such grant in form and substance satisfactory to the Administrative Agent. (e) The Borrower shall have provided to the Administrative Agent copies of (i) phase Phase I environmental surveys, acceptable to the Administrative Agent, conducted by a company acceptable to the Administrative Agent, with respect to each parcel of real estate acquired pursuant to the Busse Xxxxxx Purchase Agreement which is subjexx xx subject to a Mortgage, (ii) to the extent available, all environmental surveys or audits performed during the past five (5) years in connection with each of the parcels of real estate which is subject to a Mortgage, and the results of any existing search of the public records of the authorities in the relevant jurisdictions responsible for environmental matters with respect to any proceeding or action affecting any parcel of real estate which is subject to a Mortgage and (iii) such other evidence concerning compliance (both past and present) with Environmental Laws by the Borrower and its Subsidiaries as the Administrative Agent may request. The results of each phase Phase I environmental survey shall be satisfactory to the Administrative Agent. (f) The Administrative Agent shall have received a survey (collectively, the "Surveys") of each parcel of real estate acquired pursuant to the Busse Xxxxxx Purchase Agreement or the Like-Kixx Xxchange Agreement which is the subject of a Mortgage, which survey shall be made in accordance with the "Minimum Standard Detail Requirements for ALTA/ACSM Land Title Surveys" established and adopted by the American Land Title Associated Association and American Congress on Surveying and Mapping in 1992, and meeting the accuracy requirement of an "Urban" survey as defined therein, showing all buildings and other improvements, if any, all encroachments, if any, all set-back lines, if any, and all areas affected by any easements or other instruments of record, if any (the recording data in respect of which shall be marked on the survey), containing metes and bounds description of such parcel, setting forth the flood zone designations, if any, in which such parcel is located.

Real Estate Matters. (a) With Sellers will obtain the following title insurance commitments, at least ten days prior to Closing and the following title insurance policies and riders before the Closing: (i) with respect to each parcel of real property owned Real Property that any Seller owns, an ALTA Owner's Policy of Title Insurance Form B-1987 (or equivalent policy reasonably acceptable to Buyer if the Real Property is located in a state in which an ALTA Owner's Policy of Title Insurance Form B-1987 is not available) issued by the Borrower or any of its Subsidiariesa title insurer reasonably satisfactory to Buyer, to the extent requested by the Administrative Agent, the Borrower or in such Subsidiary shall, with respect to real property owned or amount as Buyer reasonably may determine to be acquired the fair market value of such Real Property (including all improvements located thereon), insuring title to such Real Property to be in Buyer as of the Closing Date on or prior (subject only to the Closing Date, and, Permitted Liens); (ii) with respect to real property thereafter acquired, promptly after acquisition thereof, have executed and delivered a first priority mortgage or deed of trust, in form and substance satisfactory to the Administrative Agent, covering such parcel of real property. With respect to each parcel of real property leased by the Borrower Real Property that any Seller leases or any subleases, an ALTA Leasehold Owner's Policy of its Subsidiaries, Title Insurance-1987 (or equivalent policy reasonably acceptable to the extent requested Buyer if the Real Property is located in a state in which an ALTA Leasehold Owner's Policy of Title Insurance-1987 is not available) issued by the Administrative Agent, the Borrower or such Subsidiary shall (on or prior a title insurer reasonably satisfactory to the Closing Date with respect Buyer in such amount as the Buyer reasonably may determine (taking into account the time cost of money and such other factors as whether the fair market rental value of the premises exceeds the stipulated consideration in the lease or sublease, whether the tenant or subtenant has any option to leases held renew or extend, whether the tenant or subtenant owns any improvements located on the premises, whether the tenant or subtenant is permitted to sublease, and whether the tenant or subtenant would owe any amount under the lease or sublease if evicted), insuring title to the leasehold or subleasehold estate to be acquired in Buyer as of the Closing Date and, with respect (subject only to leases thereafter acquired, promptly after acquisition thereof) have executed and delivered a first priority leasehold mortgage or collateral assignment of lease, in form and substance satisfactory to the Administrative Agent, covering such leasehold interest. Such mortgages, deeds of trust, leasehold mortgages and collateral assignments of leases may be referred to hereinafter collectively as the "Mortgages". Each Mortgage shall have been duly recorded, and the Borrower shall have paid all taxes, fees or charges incurred in connection with the execution or recording thereofPermitted Liens). (b) The Borrower shall have procured and delivered to the Administrative Agent a commitment from a Each title insurance company satisfactory to the Administrative Agent for an ALTA mortgagee's policy of title insurance (Form 1970 if available, or 1984 or 1990 with 1970 Endorsementdelivered under Section 5.12(a) covering each parcel of real estate owned by the Borrower or any of its Subsidiaries which is subject to a Mortgage, which policy shall be for the benefit of the Administrative Agent on behalf of the Banks and satisfactory to the Administrative Agent and shall insure that such Mortgage is a valid first mortgage lien on the property covered thereby. Such policy shall, to the extent available and appropriate: (i) insure title to the real property applicable Real Property Interest and all recorded easements benefiting such real propertyReal Property Interest, (ii) contain an "Extended Coverage Endorsementextended coverage endorsement" insuring over the general exceptions contained customarily in such policypolicies, (iii) contain an ALTA Zoning Endorsement 3.1 (or equivalent), (iv) contain an endorsement insuring that the real property Real Property described in the title insurance policy is the same real estate Real Property as shown on the survey Survey delivered pursuant to Section 5.12(c) with respect to such property, (ivv) contain an endorsement insuring that each street adjacent to the real property Real Property is a public street and that there is direct and unencumbered pedestrian and vehicular access to such street from the real propertyReal Property, (vvi) contain an inflation endorsement providing for annual adjustments in the amount of coverage corresponding to the annual percentage increase, if any, in the United States Department of Commerce Composite Construction Cost Index (Base Year = 1999), (vii) if the real property Real Property consists of more than one record parcel, contain a "contiguity" endorsement, if applicable, endorsement insuring that all of the record parcels are contiguous to one another, (vi) contain appropriate endorsements insuring against encroachments, and (viiviii) contain a commercial revolving line of credit "non-imputation" endorsement insuring that advances made subsequent to the date effect that title defects known to the officers, directors, and stockholders of the title insurance policy are included in owner prior to the title coverage, Closing shall not be deemed "facts known to exceed the face amount insured" for purposes of the title policy. No title indemnities shall be established in connection with the issuance of the aforesaid lender's title insurance policy. (c) With respect to each parcel of real property owned by the Borrower or any of its Subsidiaries Real Property as to which a title insurance policy is subject to a Mortgagebe procured pursuant to Section 5.12(a) above, the Borrower shall have procured and delivered Sellers will procure at least ten days prior to the Administrative Agent evidence as to whether such parcel of property is located within Closing a flood hazard area for purpose current survey of the National Flood Insurance Act Real Property certified to Buyer, prepared by a licensed surveyor and conforming to current ALTA Minimum Detail Requirements for Land Title Surveys, disclosing the location of 1968all improvements, as amendedeasements, party walls, sidewalks, roadways, utility lines and other matters shown customarily on such surveys, and showing access affirmatively to public streets and roads. No such Survey shall disclose any survey defect or encroachment from or onto the Real Property which has not been cured or insured over prior to the Closing. (d) The Borrower Sellers shall obtain from each lessor under a lease, in respect of which the Borrower or any of its Subsidiaries has granted provide to the Administrative Agent a Mortgage or collateral assignment, written consent to such grant in form and substance satisfactory to the Administrative Agent. (e) The Borrower shall have provided to the Administrative Agent Buyer copies of (i) phase Phase I environmental surveys, reasonably acceptable to the Administrative AgentBuyer, conducted by a company reasonably acceptable to the Administrative AgentBuyer, with respect to each parcel of real estate acquired pursuant to the Busse Purchase Agreement which is subjexx xx a MortgageReal Property, and (ii) to the extent available, all environmental surveys or audits performed during the past five (5) years in connection with each parcel of the parcels of real estate which is subject to a MortgageReal Property, and the results of any existing search of the public records of the authorities in the relevant jurisdictions responsible for environmental matters with respect to any proceeding or action affecting any such parcel of real estate which is subject to a Mortgage and (iii) such other evidence concerning compliance (both past and present) with Environmental Laws by the Borrower and its Subsidiaries as the Administrative Agent may request. The results of each phase I environmental survey shall be satisfactory to the Administrative Agent. (f) The Administrative Agent shall have received a survey (collectively, the "Surveys") of each parcel of real estate acquired pursuant to the Busse Purchase Agreement or the Like-Kixx Xxchange Agreement which is the subject of a Mortgage, which survey shall be made in accordance with the "Minimum Standard Detail Requirements for ALTA/ACSM Land Title Surveys" established and adopted by the American Land Title Associated and American Congress on Surveying and Mapping in 1992Real Property, and meeting the accuracy requirement of an "Urban" survey as defined therein, showing all buildings and other improvements, if any, all encroachments, if any, all set-back lines, if any, and all areas affected by any easements correspondence to or other instruments of record, if from any (the recording data in respect of which shall be marked on the survey), containing metes and bounds description of such parcel, setting forth the flood zone designations, if any, in which such parcel is locatedSeller relating to any environmental matter.

Real Estate Matters. (a) With respect to each parcel of real property owned by the Borrower or any of its Subsidiaries, to the extent requested by the Administrative AgentSubsidiaries (other than Gadsden), the Borrower or such Subsidiary shall, shall (on or prior to the Closing Date with respect to real property owned or to be acquired as of the Closing Date on or prior to the Closing Date, and, with respect to real property thereafter acquired, promptly after acquisition thereof, thereof in accordance with Section 7.9 hereof) have executed and delivered a first priority mortgage or deed of trust, in form and substance reasonably satisfactory to the Administrative Agent, covering such parcel of real property. With respect to each parcel of real property leased by the Borrower or any of its Subsidiaries, to the extent requested by the Administrative AgentSubsidiaries (other than Gadsden and Atlantic City), the Borrower or such Subsidiary shall (on or prior to the Closing Date with respect to leases held or to be acquired as of the Closing Date listed on Schedule 6.4(a) hereto and, with respect to leases thereafter acquired, promptly after acquisition thereofthereof in accordance with Section 7.4 hereof) have executed and delivered a first priority leasehold mortgage or collateral assignment of leasemortgage, in form and substance reasonably satisfactory to the Administrative Agent, covering such leasehold interest. With respect to each of the real property leases listed on Schedule 6.4(b) hereto, the Borrower or the Subsidiary which is tenant thereunder shall deliver a collateral assignment of lease in form and substance reasonably satisfactory to the Agent. Such mortgages, deeds of trust, trust and leasehold mortgages and collateral assignments of leases may be referred to hereinafter collectively as the "Mortgages". Each Mortgage shall have been duly recorded, and the Borrower shall have paid all taxes, fees or charges incurred in connection with the execution or recording thereof. (b) The Borrower shall have procured and delivered to the Administrative Agent a commitment from a title insurance company reasonably satisfactory to the Administrative Agent (the "Title Company") for an ALTA mortgagee's policy of title insurance (Form 1970 if available, or 1984 or 1990 with 1970 Endorsement) covering each parcel of real estate owned by the Borrower or any of its Subsidiaries which is and subject to a Mortgage, which policy shall be for the benefit of the Administrative Agent on behalf of the Banks and in form and in an amount reasonably satisfactory to the Administrative Agent and shall insure that such Mortgage is a valid first mortgage lien on the property covered thereby. Such policy shall, to the extent available at commercially reasonable rates and appropriate: (i) insure title to the real property and all recorded easements benefiting benefitting such real property, (ii) contain an "Extended Coverage Endorsement" insuring over the general exceptions contained customarily in such policy, (iii) contain an endorsement insuring that the real property described in the title insurance policy is the same real estate as shown on the survey survey, if any, delivered with respect to such property, (iv) contain an endorsement insuring that each street adjacent to the real property is a public street and that there is direct and unencumbered pedestrian and vehicular access to such street from the real property, (v) if the real property consists of more than one record parcel, contain a "contiguity" endorsement, if applicable, insuring that all of the record parcels are contiguous to one another, and (vi) contain appropriate endorsements insuring against encroachments, and (vii) contain a commercial revolving line of credit endorsement insuring that advances made subsequent to the date of the title insurance policy are included in the title coverage, not to exceed the face amount of the title policy. No title indemnities shall be established in connection with the issuance of the aforesaid lender's title insurance policy. (c) With respect to each parcel of real property owned by the Borrower or any of its Subsidiaries which is and subject to a Mortgage, the Borrower shall have procured and delivered to the Administrative Agent evidence as to whether such parcel of property is located within a flood hazard area for purpose purposes of the National Flood Insurance Act of 1968, as amended. (d) The Borrower shall obtain from each lessor under a lease, in respect of which the Borrower or any of its Subsidiaries has granted to the Administrative Agent a Mortgage or collateral assignmentMortgage, written consent to such grant in form and substance reasonably satisfactory to the Administrative Agent. The Borrower shall use commercially reasonable efforts to obtain from each lessor under a lease of which the Borrower or any of its Subsidiaries has granted to Agent a collateral assignment of lease, written consent to such Agent. (e) The Borrower shall have provided to the Administrative Agent copies of (i) phase Phase I environmental surveys, acceptable to the Administrative Agent, conducted by a company acceptable to the Administrative Agent, with respect to each parcel of real estate acquired pursuant to owned by the Busse Purchase Agreement which is subjexx xx a MortgageBorrower or any of its Subsidiaries, (ii) to the extent available, all environmental surveys or audits performed during the past five (5) years in connection with each of the parcels of real estate which is subject to a Mortgage, and the results of any existing a search of the public records of the authorities in the relevant jurisdictions responsible for environmental matters with respect to any proceeding or action affecting any parcel of real estate which is subject to o a Mortgage and (iii) such other evidence concerning compliance (both past and present) with Environmental Laws by the Borrower and its Subsidiaries as the Administrative Agent may reasonably request. The results of each phase Phase I environmental survey shall be reasonably satisfactory to the Administrative Agent. (f) The Administrative Agent shall have received received, with respect to each of the properties listed on Schedule 6.4(f) hereto, a survey (collectively, the "Surveys") of each parcel of real estate acquired pursuant owned by the Borrower or any of its Subsidiaries, dated not more than ninety days prior to the Busse Purchase Agreement or Closing Date, certified to the Like-Kixx Xxchange Agreement which is the subject of a MortgageAgent, which survey shall be made in accordance with the "Minimum Standard Detail Requirements for ALTA/ACSM Land Title Surveys" established and adopted by the American Land Title Associated Association and American Congress on Surveying and Mapping in 1992, and meeting the accuracy requirement of an "Urban" survey as defined therein, showing all buildings and other improvements, if any, all encroachments, if any, all set-back lines, if any, and all areas affected by any easements or other instruments of record, if any (the recording data in respect of which shall be marked on the survey), containing metes and bounds description of such parcel, setting forth the flood zone designations, if any, in which such parcel is located.

Real Estate Matters. (a) With respect to each parcel of real property owned by the Borrower or any of its Subsidiaries, to To the extent requested by the Administrative Agent, the Borrower or such Subsidiary shall, with respect to real property owned or to be acquired items have not been delivered as of the Closing Date on or prior to the Closing Amendment and Restatement Effective Date, andwithin sixty (60) days after the Amendment and Restatement Effective Date, with respect to real property thereafter acquired, promptly after acquisition thereof, have executed and delivered a first priority mortgage or deed of trust, in form and substance satisfactory to the Administrative Agent, covering such parcel of real property. With respect to each parcel of real property leased unless extended by the Borrower or any of Collateral Agent in its Subsidiaries, to the extent requested by the Administrative Agent, the Borrower or such Subsidiary shall (on or prior to the Closing Date with respect to leases held or to be acquired as of the Closing Date and, with respect to leases thereafter acquired, promptly after acquisition thereof) have executed and delivered a first priority leasehold mortgage or collateral assignment of lease, in form and substance satisfactory to the Administrative Agent, covering such leasehold interest. Such mortgages, deeds of trust, leasehold mortgages and collateral assignments of leases may be referred to hereinafter collectively as the "Mortgages". Each Mortgage shall have been duly recorded, and the Borrower shall have paid all taxes, fees or charges incurred in connection with the execution or recording thereof. (b) The Borrower shall have procured and delivered to the Administrative Agent a commitment from a title insurance company satisfactory to the Administrative Agent for an ALTA mortgagee's policy of title insurance (Form 1970 if available, or 1984 or 1990 with 1970 Endorsement) covering each parcel of real estate owned by the Borrower or any of its Subsidiaries which is subject to a Mortgage, which policy shall be for the benefit of the Administrative Agent on behalf of the Banks and satisfactory to the Administrative Agent and shall insure that such Mortgage is a valid first mortgage lien on the property covered thereby. Such policy shall, to the extent available and appropriate: (i) insure title to the real property and all recorded easements benefiting such real property, (ii) contain an "Extended Coverage Endorsement" insuring over the general exceptions contained customarily in such policy, (iii) contain an endorsement insuring that the real property described in the title insurance policy is the same real estate as shown on the survey delivered with respect to such property, (iv) contain an endorsement insuring that each street adjacent to the real property is a public street and that there is direct and unencumbered pedestrian and vehicular access to such street from the real property, (v) if the real property consists of more than one record parcel, contain a "contiguity" endorsement, if applicable, insuring that all of the record parcels are contiguous to one another, (vi) contain appropriate endorsements insuring against encroachments, and (vii) contain a commercial revolving line of credit endorsement insuring that advances made subsequent to the date of the title insurance policy are included in the title coverage, not to exceed the face amount of the title policy. No title indemnities shall be established in connection with the issuance of the aforesaid lender's title insurance policy. (c) With respect to each parcel of real property owned by the Borrower or any of its Subsidiaries which is subject to a Mortgagesole discretion, the Borrower shall have procured and deliver or cause to be delivered to the Administrative Agent evidence as to whether such parcel of property is located within a flood hazard area for purpose of the National Flood Insurance Act of 1968, as amended. (d) The Borrower shall obtain from each lessor under a lease, in respect of which the Borrower or any of its Subsidiaries has granted to the Administrative Agent a Mortgage or collateral assignment, written consent to such grant in form and substance satisfactory to the Administrative Agent. (e) The Borrower shall have provided to the Administrative Agent copies of (i) phase I environmental surveys, acceptable to the Administrative Agent, conducted by a company acceptable to the Administrative Collateral Agent, with respect to each parcel of real estate acquired pursuant Mortgaged Property identified on Schedule 1 hereto, the following: (i) with respect to each Mortgage encumbering Mortgaged Property, an amendment (each a “Mortgage Amendment”) duly executed and acknowledged by the applicable Loan Party, and in form for recording in the recording office where each such Mortgage was recorded, together with such certificates, affidavits, questionnaires or returns as shall be required in connection with the recording or filing thereof under applicable law, in each case in form and substance reasonably satisfactory to the Busse Purchase Agreement which is subjexx xx a Mortgage, Collateral Agent; (ii) with respect to each Mortgage Amendment, an endorsement to the extent availableexisting Title Policy assuring the Collateral Agent that the Mortgage, as amended by the Mortgage Amendment, is a valid and enforceable first priority lien on such Mortgaged Property in favor of the Collateral Agent for the benefit of the Secured Parties free and clear of all environmental surveys Liens except those Liens created or audits performed during permitted by the past five Mortgage or by the Collateral Agent, and such Mortgage Policy shall otherwise be in form and substance reasonably satisfactory to the Collateral Agent; (5iii) years in connection with respect to each Mortgage Amendment, opinions of local counsel to the Loan Parties, which opinions (x) shall be addressed to Administrative Agent and each of the parcels Secured Parties, (y) shall cover (i) the due authorization, execution and delivery of real estate which is subject to a Mortgagesuch Mortgage Amendment and (ii) the enforceability of the respective Mortgage as amended by the Mortgage Amendment, and the results of any existing search of the public records of the authorities in the relevant jurisdictions responsible for environmental matters with respect to any proceeding or action affecting any parcel of real estate which is subject to a Mortgage and (iiiz) such other evidence concerning compliance (both past and present) with Environmental Laws by the Borrower and its Subsidiaries as the Administrative Agent may request. The results of each phase I environmental survey shall be in form and substance reasonably satisfactory to the Administrative Agent.; (fiv) The Administrative Agent with respect to each Mortgaged Property, such affidavits, certificates, information and instruments of indemnification as shall have received a survey be required to induce the title insurance company to issue the endorsement to Title Policy contemplated in subparagraph (collectively, the "Surveys"ii) of each parcel of real estate acquired pursuant this Section 6; and (v) evidence acceptable to the Busse Purchase Agreement or the Like-Kixx Xxchange Agreement which is the subject Collateral Agent of a Mortgage, which survey shall be made in accordance with the "Minimum Standard Detail Requirements for ALTA/ACSM Land Title Surveys" established and adopted payment by the American Land Title Associated appropriate Loan Party of all applicable title insurance premiums, search and American Congress on Surveying examination charges and Mapping in 1992related charges, mortgage recording taxes, fees, charges, costs and meeting the accuracy requirement of an "Urban" survey as defined therein, showing all buildings and other improvements, if any, all encroachments, if any, all set-back lines, if any, and all areas affected by any easements or other instruments of record, if any (expenses required for the recording data of the Mortgage Amendments and issuance of the endorsements to Title Policies referred to in respect subparagraph (ii) of which shall be marked on the survey), containing metes and bounds description of such parcel, setting forth the flood zone designations, if any, in which such parcel is locatedthis Section 6.