Common use of State Law Recitals and Provisions Clause in Contracts

State Law Recitals and Provisions. (a) Non-Residential Trust Deed; Business Purpose. Trustor warrants that this instrument, as a deed of trust or trust deed under laws of the state in which the Property is located, is not and will not at any time constitute a resid0ential trust deed, as that term is defined in ORS 86.705 or its successor statutes (if the Property is in Oregon). Trustor warrants that it is engaging in this transaction exclusively for business, commercial or investment purposes. Trustor warrants that the Property is not used principally for agricultural or farming purposes (if the Property is in Washington). Trustor warrants that the Property falls within the provisions of Idaho Code 45-1502(5) or its successor statutes (if the Property is in Idaho).

State Law Recitals and Provisions. (a) Non-Residential Trust Deed; Business Purpose. Trustor warrants that this instrument, as a deed of trust or trust deed under laws of the state in which the Property is located, is not and will not at any time constitute a resid0ential residential trust deed, as that term is defined in ORS 86.705 or its successor statutes (if the Property is in Oregon). Trustor warrants that it is engaging in this transaction exclusively for business, commercial or investment purposes. Trustor warrants that the Property is not used principally for agricultural or farming purposes (if the Property is in Washington). Trustor warrants that the Property falls within the provisions of Idaho Code 45-1502(5) or its successor statutes (if the Property is in Idaho).