Common use of Representations Regarding the Property Clause in Contracts

Representations Regarding the Property. Borrower represents and warrants to Lender that Borrower has, prior to the Closing Date, delivered to Lender, with respect to the Property: (a) To the extent available, operating statements for the previous two (2) years; (b) A current rent roll, in form satisfactory to Lender, and certified by Borrower to be true and correct to the best of Borrower’s knowledge and, to the extent available, an uncertified two-year operating and occupancy history; (c) A survey certified by a surveyor licensed in the applicable jurisdiction to have been prepared in accordance with the then effective Minimum Standard Detail Requirements for ALTA/ACSM Land Title Surveys, including a certification that the Property is not located in a Special Flood Hazard Area as defined by the Federal Insurance Administration; (d) A “Phase I” environmental assessment not more than twelve (12) months old; (e) Copies (true and correct, to the best of Borrower’s knowledge) of all Major Agreements and Leases affecting the Property; and (f) Copies (true and correct, to the best of Borrower’s knowledge) of engineering, mechanical, structural or maintenance studies performed (if not previously performed, such studies as shall be required by Lender).