Common use of Status of Property Clause in Contracts

Status of Property. (a) Except as otherwise set forth in any zoning report delivered to Lender in connection with the closing of the Loan (the “Zoning Report”), to Borrower’s knowledge, Borrower has obtained all material Permits required for the operation of the Individual Continental Properties, all of which are in full force and effect as of the date hereof and, to Borrower’s knowledge, not subject to revocation, suspension, forfeiture or modification. (b) Except as otherwise set forth in any Zoning Report, Title Insurance Policy, tenant estoppel certificate or other third party report delivered to Lender in connection with the Loan and with respect to the Individual Puerto Rico Properties, as the same is qualified by the PR Property Representation Condition and as may be affected by the Prior Hurricane Damage, each Individual Property and the present use and occupancy thereof are, to Borrower’s knowledge, in compliance in all material respects with all applicable zoning ordinances, building codes, land use laws, Environmental Laws and other similar Legal Requirements. (c) Each Individual Continental Property is served by all utilities required for the current use thereof. Except as may be qualified by the PR Property Representation Condition and as may be affected by the Prior Hurricane Damage, each Individual Puerto Rico Property is served by all utilities required for the current use thereof. (d) To Borrower’s knowledge, each Individual Continental Property has either direct access to public roads or streets or access to public roads or streets by virtue of a perpetual easement or similar agreement inuring in favor of Borrower and any subsequent owners of the applicable Individual Continental Property. To Borrower’s knowledge, except as may be qualified by the PR Property Representation Condition and as may be affected by the Prior Hurricane Damage, each Individual Puerto Rico Property has either direct access to public roads or streets or access to public roads or streets by virtue of a perpetual easement or similar agreement inuring in favor of Borrower and any subsequent owners of the applicable Individual Puerto Rico Property. (e) Each Individual Continental Property is free from damage caused by fire or other casualty. Each Individual Puerto Rico Property is free from damage caused by fire or other casualty, other than the Prior Hurricane Damage and except as qualified by the PR Property Representation Condition. To Borrower’s knowledge, except as set forth in the tenant estoppels, property condition reports and environmental site assessments delivered in connection with the closing of the Loan and with respect to the Individual Puerto Rico Properties, as the same may be affected by the Prior Hurricane Damage and except as qualified by the PR Property Representation Condition, the Property, including, without limitation, all buildings, improvements, parking facilities, sidewalks, storm drainage systems, roofs, plumbing systems, HVAC systems, fire protection systems, electrical systems, equipment, elevators, exterior sidings and doors, landscaping, irrigation systems and all structural components, are in good condition, order and repair in all material respects, except as could not be reasonably expected to cause a Material Adverse Effect; with respect to the Individual Puerto Rico Properties, as the same may be affected by the Prior Hurricane Damage and except as qualified by the PR Property Representation Condition, there exists no structural or other material defects or damages in the Property, whether latent or otherwise, except as could not be reasonably expected to cause a Material Adverse Effect, and with respect to the Individual Puerto Rico Properties, as the same may be affected by the Prior Hurricane Damage and except as qualified by the PR Property Representation Condition, Borrower has not received notice from any insurance company or bonding company of any defects or inadequacies in the Property, or any part thereof, which would adversely affect the insurability of the same or cause the imposition of extraordinary premiums or charges thereon or of any termination or threatened termination of any policy of insurance or bond. (f) Except as set forth in any property condition report or tenant estoppel certificate delivered in connection with the closing of the Loan, with respect to the Individual Puerto Rico Properties, as the same may be affected by the Prior Hurricane Damage and except as qualified by the PR Property Representation Condition, all costs and expenses of any and all labor, materials, supplies and equipment used in the construction of the Improvements have been paid in full or, to the extent not yet due and payable, will be paid in full in the ordinary course of Borrower’s business in accordance with the terms and conditions of the Loan Documents. To Borrower’s knowledge, except as set forth in the Title Insurance Policy and with respect to any Individual Puerto Rico Property, any work performed to remedy any Prior Hurricane Damage at such Individual Puerto Rico Property and except as may be qualified by the PR Property Representation Condition, there are no mechanics’ or similar liens or claims which have been filed for work, labor or material (and, to Borrower’s knowledge, no rights are outstanding that under applicable Legal Requirements could give rise to any such liens) affecting the Property or the Collateral which are or may be prior to or equal to the lien of the Security Instrument or the Pledge Agreement. The parties hereby agree that any time the representations made in this clause (f) are re-made (or deemed to have been re-made) by Borrower, such representations by Borrower shall be deemed to have excepted any costs and expenses that are being contested in good faith in accordance with Section 4.16(b) hereof. (g) Except for any Improvements or fixtures owned by Tenants under Leases and, with respect to the Individual Puerto Rico Properties, except as qualified by the PR Property Representation Condition and as may be affected by the Prior Hurricane Damage, Borrower has paid in full for, and is the owner of, all furnishings, fixtures and equipment (other than Tenants’ property) used in connection with the operation of the Property, free and clear of any and all security interests, liens or encumbrances, except the lien and security interest created by this Agreement, the Note, the Security Instrument and the other Loan Documents and other security interests, liens and encumbrances permitted pursuant to this Agreement. (h) To Borrower’s knowledge and except as set forth in any environmental condition report and/or property condition report delivered to Lender in connection with the closing of the Loan and with respect to the Individual Puerto Rico Properties, as the same may be affected by the Prior Hurricane Damage and except as qualified by the PR Property Representation Condition, all liquid and solid waste disposal, septic and sewer systems located on the Property are in a good and safe condition and repair and in compliance with all Legal Requirements. (i) Except as expressly disclosed on the Survey and except as set forth on Schedule 3.12(i), to Borrower’s knowledge, no portion of the Improvements on any Individual Continental Property is located in an area identified by the Federal Emergency Management Agency or any successor thereto as an area having special flood hazards pursuant to the Flood Insurance Acts. Except as expressly disclosed on the Survey, to Borrower’s knowledge, no part of any Individual Continental Property consists of or is classified as wetlands, tidelands or swamp and overflow lands. (j) To Borrower’s knowledge, except as disclosed on the Survey or in the Title Insurance Policy, all the Improvements on any Individual Continental Property lie within the boundaries of the Land and any building restriction lines applicable to the Land. To Borrower’s knowledge, and except as qualified by the PR Property Representation Condition and as may be affected by the Prior Hurricane Damage, all the Improvements on any Individual Puerto Rico Property lie within the boundaries of the PR Land and any building restriction lines applicable to the PR Land. (k) To Borrower’s knowledge and except as set forth in the Title Insurance Policies except as set forth on Schedule 3.12(k), there are no pending or proposed special or other assessments for public improvements or otherwise affecting any Individual Property, nor are there any contemplated improvements to any Individual Property that may result in such special or other assessments. (l) Except with respect to any Prior Hurricane Damage or PR Restoration, and except as qualified by the PR Property Representation Condition and except as set forth on Schedule 3.12(l), Borrower has not (i) made, ordered or contracted for any construction, repairs, alterations or improvements to be made on or to the Property which have not been completed and paid for in full or, to the extent not yet due and payable, will not be paid in full in the ordinary course in accordance with the terms and conditions of the Loan Documents, (ii) ordered materials for any such construction, repairs, alterations or improvements which have not been paid for in full or, to the extent not yet due and payable, will not be paid in full in the ordinary course in accordance with the terms and conditions of the Loan Documents or (iii) attached any fixtures to the Property which have not been paid for in full or, to the extent not yet due and payable, will not be paid in full in the ordinary course of Borrower’s business in accordance with the terms and conditions of the Loan Documents. Except for the Unfunded Obligations, Environmental Work, the PR Restoration work, and the additional environmental work set forth on Schedule 4.25 hereof and Immediate Repairs, to Borrower’s knowledge and except as qualified by the PR Property Representation Condition and except in connection with the Prior Hurricane Damage, there is no such construction, repairs, alterations or improvements ongoing at the Property that have not been paid for as of the Closing Date. To Borrower’s knowledge and except as qualified by the PR Property Representation Condition and except in connection with the Prior Hurricane Damage, there are no outstanding or disputed claims for any Work Charges and there are no outstanding liens or security interests in connection with any Work Charges that are not covered by the Title Insurance Policy. (m) The property address of each unit of each Individual Property is set forth on Schedule 1.1(a) and 1.1(b) attached hereto. (n) Borrower has no direct employees. All other personnel employed at or in connection with the Property are the direct employees of Manager or its Affiliates (other than Borrower).

Status of Property. (a) Except as otherwise set forth in any zoning report delivered to Lender in connection with the closing of the Loan (the “Zoning Report”), to Borrower’s knowledge, Borrower has obtained all material Permits required for the operation of the Plaza del Sol Property and the Individual Continental Properties, all of which are in full force and effect as of the date hereof and, to Borrower’s knowledge, not subject to revocation, suspension, forfeiture or modification. (b) Except as otherwise set forth in any Zoning Report, Title Insurance Policy, tenant estoppel certificate or other third party report delivered to Lender in connection with the Loan and with respect to the Individual Puerto Rico Portfolio Properties, as the same is qualified by the PR Property Representation Condition and as may be affected by the Prior Hurricane Damage, each Individual Property and the present use and occupancy thereof are, to Borrower’s knowledge, in compliance in all material respects with all applicable zoning ordinances, building codes, land use laws, Environmental Laws and other similar Legal Requirements. (c) Each Individual Continental Property is served by all utilities required for the current use thereof. Except as may be qualified by the PR Property Representation Condition and as may be affected by the Prior Hurricane Damage, each Individual Puerto Rico Property is served by all utilities required for the current use thereof. (d) To Borrower’s knowledge, the Plaza del Sol Property and each Individual Continental Property has either direct access to public roads or streets or access to public roads or streets by virtue of a perpetual easement or similar agreement inuring in favor of Borrower and any subsequent owners of the Plaza del Sol Property and the applicable Individual Continental Property, as applicable. To Borrower’s knowledge, except as may be qualified by the PR Property Representation Condition and as may be affected by the Prior Hurricane Damage, each Individual Puerto Rico Portfolio Property has either direct access to public roads or streets or access to public roads or streets by virtue of a perpetual easement or similar agreement inuring in favor of Borrower and any subsequent owners of the applicable Individual Puerto Rico Portfolio Property. (e) Each The Plaza del Sol Property and each Individual Continental Property is free from damage caused by fire or other casualty. Each Individual Puerto Rico Portfolio Property is free from damage caused by fire or other casualty, other than the Prior Hurricane Damage and except as qualified by the PR Property Representation Condition. To Borrower’s knowledge, except as set forth in the tenant estoppels, property condition reports and environmental site assessments delivered in connection with the closing of the Loan and with respect to the Individual Puerto Rico Portfolio Properties, as the same may be affected by the Prior Hurricane Damage and except as qualified by the PR Property Representation Condition, the Property, including, without limitation, all buildings, improvements, parking facilities, sidewalks, storm drainage systems, roofs, plumbing systems, HVAC systems, fire protection systems, electrical systems, equipment, elevators, exterior sidings and doors, landscaping, irrigation systems and all structural components, are in good condition, order and repair in all material respects, except as could not be reasonably expected to cause a Material Adverse Effect; with respect to the Individual each Puerto Rico PropertiesPortfolio Property, as the same may be affected by the Prior Hurricane Damage and except as qualified by the PR Property Representation Condition, there exists no structural or other material defects or damages in the Property, whether latent or otherwise, except as could not be reasonably expected to cause a Material Adverse Effect, and with respect to the Individual Puerto Rico Portfolio Properties, as the same may be affected by the Prior Hurricane Damage and except as qualified by the PR Property Representation Condition, Borrower has not received notice from any insurance company or bonding company of any defects or inadequacies in the Property, or any part thereof, which would adversely affect the insurability of the same or cause the imposition of extraordinary premiums or charges thereon or of any termination or threatened termination of any policy of insurance or bond. (f) Except as set forth in any property condition report or tenant estoppel certificate delivered in connection with the closing of the Loan, with respect to the Individual Puerto Rico Portfolio Properties, as the same may be affected by the Prior Hurricane Damage and except as qualified by the PR Property Representation Condition, all costs and expenses of any and all labor, materials, supplies and equipment used in the construction of the Improvements have been paid in full or, to the extent not yet due and payable, will be paid in full in the ordinary course of Borrower’s business in accordance with the terms and conditions of the Loan Documents. To Borrower’s knowledge, except as set forth in the Title Insurance Policy and with respect to any Individual Puerto Rico Portfolio Property, any work performed to remedy any Prior Hurricane Damage at such Individual Puerto Rico Portfolio Property and except as may be qualified by the PR Property Representation Condition, there are no mechanics’ or similar liens or claims which have been filed for work, labor or material (and, to Borrower’s knowledge, no rights are outstanding that under applicable Legal Requirements could give rise to any such liens) affecting the Property or the Collateral which are or may be prior to or equal to the lien of the Security Instrument or the Pledge Agreement. The parties hereby agree that any time the representations made in this clause (f) are re-made (or deemed to have been re-made) by Borrower, such representations by Borrower shall be deemed to have excepted any costs and expenses that are being contested in good faith in accordance with Section 4.16(b) hereof. (g) Except for any Improvements or fixtures owned by Tenants under Leases and, with respect to the Individual Puerto Rico Properties, except as qualified by the PR Property Representation Condition and as may be affected by the Prior Hurricane DamageLeases, Borrower has paid in full for, and is the owner of, all furnishings, fixtures and equipment (other than Tenants’ property) used in connection with the operation of the Property, free and clear of any and all security interests, liens or encumbrances, except the lien and security interest created by this Agreement, the Note, the Security Instrument and the other Loan Documents and other security interests, liens and encumbrances permitted pursuant to this Agreement. (h) To Borrower’s knowledge and except as set forth in any environmental condition report and/or property condition report delivered to Lender in connection with the closing of the Loan and with respect to the Individual Puerto Rico Portfolio Properties, as the same may be affected by the Prior Hurricane Damage and except as qualified by the PR Property Representation Condition, all liquid and solid waste disposal, septic and sewer systems located on the Property are in a good and safe condition and repair and in compliance with all Legal Requirements. (i) Except as expressly disclosed on the Survey and except as set forth on Schedule 3.12(i), to Borrower’s knowledge, no portion of the Improvements on the Plaza del Sol Property or any Individual Continental Property is located in an area identified by the Federal Emergency Management Agency or any successor thereto as an area having special flood hazards pursuant to the Flood Insurance Acts. Except as expressly disclosed on the Survey, to Borrower’s knowledge, no part of the Plaza del Sol Property or any Individual Continental Property consists of or is classified as wetlands, tidelands or swamp and overflow lands. (j) To Borrower’s knowledge, except as disclosed on the Survey or in the Title Insurance PolicyPolicy and/or as set forth on Schedule 3.12(j), all the Improvements on the Plaza del Sol Property and any Individual Continental Property lie within the boundaries of the Land and any building restriction lines applicable to the Land. To Borrower’s knowledge, and except as qualified by disclosed on the PR Property Representation Condition and Survey or in the Title Insurance Policy and/or as may be affected by the Prior Hurricane Damageset forth on Schedule 3.12(j), all the Improvements on any Individual Puerto Rico Portfolio Property lie within the boundaries of the PR Land and any building restriction lines applicable to the PR Land. (k) To Borrower’s knowledge and except as set forth in the Title Insurance Policies except as set forth on Schedule 3.12(k), there are no pending or proposed special or other assessments for public improvements or otherwise affecting any Individual Property, nor are there any contemplated improvements to any Individual Property that may result in such special or other assessments. (l) Except with respect to any Prior Hurricane Damage or PR Restoration, and except as qualified by the PR Property Representation Condition and except as set forth on Schedule 3.12(l), Borrower has not (i) made, ordered or contracted for any construction, repairs, alterations or improvements to be made on or to the Property which have not been completed and paid for in full or, to the extent not yet due and payable, will not be paid in full in the ordinary course in accordance with the terms and conditions of the Loan Documents, (ii) ordered materials for any such construction, repairs, alterations or improvements which have not been paid for in full or, to the extent not yet due and payable, will not be paid in full in the ordinary course in accordance with the terms and conditions of the Loan Documents or (iii) attached any fixtures to the Property which have not been paid for in full or, to the extent not yet due and payable, will not be paid in full in the ordinary course of Borrower’s business in accordance with the terms and conditions of the Loan Documents. Except for the Unfunded Obligations, Environmental Work, the PR Restoration work, and the additional environmental work set forth on Schedule 4.25 hereof and Immediate Repairs, to Borrower’s knowledge and except as qualified by the PR Property Representation Condition and except in connection with the Prior Hurricane Damage, there is no such construction, repairs, alterations or improvements ongoing at the Property that have not been paid for as of the Closing Date. To Borrower’s knowledge and except as qualified by the PR Property Representation Condition and except in connection with the Prior Hurricane Damage, there are no outstanding or disputed claims for any Work Charges and there are no outstanding liens or security interests in connection with any Work Charges that are not covered by the Title Insurance Policy. (m) The property address of each unit of each Individual Property is set forth on Schedule 1.1(a) and 1.1(b) attached hereto. (n) Borrower has no direct employees. All other personnel employed at or in connection with the Property are the direct employees of Manager or its Affiliates (other than Borrower). (o) All PR Restoration work completed prior to the Closing Date was completed in accordance with all applicable Legal Requirements.

Status of Property. Except as would not be reasonably likely to have an Individual Material Adverse Effect on any Individual Property or an Aggregate Material Adverse Effect and except as disclosed on Schedule XV attached hereto: (a) Except as otherwise set forth may be disclosed in any the zoning report delivered reports provided or made available to Lender in connection with the closing of the Loan (the “Zoning Report”)Lender, to Borrower’s knowledgeMortgage Borrower or each Tenant, Borrower as applicable, has obtained obtained, as applicable, all material Permits required for the operation of the Individual Continental PropertiesPermits, all of which are in full force and effect as of the date hereof and, to Borrower’s knowledge, and not subject to revocation, suspension, forfeiture or modification. (b) Except as otherwise set forth in any Zoning Report, Title Insurance Policy, tenant estoppel certificate or other third party report delivered to Lender in connection with the Loan and with respect to the Individual Puerto Rico Properties, as the same is qualified by the PR Property Representation Condition and as may be affected by disclosed in the Prior Hurricane Damagezoning reports provided or made available to Lender, each Individual Property and the present and contemplated use and occupancy thereof are, to Borrower’s knowledge, are in compliance in all material respects with all applicable zoning ordinances, building codes, land use laws, Environmental Laws and other similar Legal Requirements. (c) Each Individual Continental Property is served by all utilities required for the current or contemplated use thereof. Except as may be qualified To Borrower’s actual knowledge, all utility service is provided by the PR Property Representation Condition public utilities and as may be affected by the Prior Hurricane Damage, each Individual Puerto Rico Property has accepted or is served by all utilities required for the current use thereofequipped to accept such utility service. (d) To Borrower’s knowledgeExcept as expressly disclosed on the Survey, all public roads and streets necessary for service of and access to each Individual Property for the current or contemplated use thereof have been completed, are legally open for use by the public. Except as expressly disclosed on the Survey, each Individual Continental Property has either direct access to such public roads or streets or access to such public roads or streets by virtue of a perpetual easement or similar agreement inuring in favor of Mortgage Borrower and any subsequent owners of the applicable Individual Continental Property. To Borrower’s knowledge, except as may be qualified by the PR Property Representation Condition and as may be affected by the Prior Hurricane Damage, each Individual Puerto Rico Property has either direct access to public roads or streets or access to public roads or streets by virtue of a perpetual easement or similar agreement inuring in favor of Borrower and any subsequent owners of the applicable Individual Puerto Rico Property. (e) Each Individual Continental Property is served by public water and sewer systems. (f) Each Individual Property is free from damage caused by fire or other casualty. Each Individual Puerto Rico Property is free from damage caused by fire or other casualty, other than the Prior Hurricane Damage and except Except as qualified by the PR Property Representation Condition. To Borrower’s knowledge, except as set forth disclosed in the tenant estoppels, property condition reports and environmental site assessments delivered provided or made available to Lender, or otherwise disclosed to Lender by Borrower or Mortgage Borrower in connection with the closing of the Loan and with respect to the Individual Puerto Rico Properties, as the same may be affected by the Prior Hurricane Damage and except as qualified by the PR Property Representation Conditionwriting, the Property, including, without limitation, all buildings, improvements, parking facilities, sidewalks, storm drainage systems, roofs, plumbing systems, HVAC systems, fire protection systems, electrical systems, equipment, elevators, exterior sidings and doors, landscaping, irrigation systems and all structural components, are in good condition, order and repair in all material respects, except as could not be reasonably expected ordinary wear and tear excepted; to cause a Material Adverse Effect; with respect to the Individual Puerto Rico Properties, as the same may be affected by the Prior Hurricane Damage and except as qualified by the PR Property Representation ConditionBorrower’s actual knowledge, there exists no structural or other material defects or damages in the Property, whether latent or otherwise, except as could not be reasonably expected to cause a Material Adverse Effect, and with respect to the Individual Puerto Rico Properties, as the same may be affected by the Prior Hurricane Damage and except as qualified by the PR Property Representation Condition, neither Borrower nor Mortgage Borrower has not received written notice from any insurance company or bonding company of any defects or inadequacies in the Property, or any part thereof, which would adversely affect the insurability of the same or cause the imposition of extraordinary premiums or charges thereon or of any termination or threatened termination of any policy of insurance or bond. (fg) Except as set forth in any property condition report or tenant estoppel certificate delivered in connection with the closing of the Loan, with respect to the Individual Puerto Rico Properties, as the same may be affected by the Prior Hurricane Damage and except as qualified by the PR Property Representation Condition, all All costs and expenses of any and all labor, materials, supplies and equipment incurred by Mortgage Borrower and used in the construction of the Improvements have been or will be timely paid in full or, to the extent not yet due and payable, will be paid in full in the ordinary course of Borrower’s business in accordance with the terms and conditions of the Loan Documentsfull. To Borrower’s knowledge, except Except as set forth disclosed in the Title Insurance Policy and with respect Policies, to any Individual Puerto Rico Property, any work performed to remedy any Prior Hurricane Damage at such Individual Puerto Rico Property and except as may be qualified by the PR Property Representation Condition, Xxxxxxxx’s actual knowledge there are no mechanics’ or similar liens or claims which have been filed for work, labor or material (and, to Borrower’s knowledge, and no rights are outstanding that under applicable Legal Requirements could give rise to any such liens) affecting the Property or the Collateral which are or may be prior to or equal to the lien of the Security Instrument or the Pledge Agreement. The parties hereby agree that any time the representations made in this clause (f) are re-made (or deemed to have been re-made) by Borrower, such representations by Borrower shall be deemed to have excepted any costs and expenses that are being contested in good faith in accordance with Section 4.16(b) hereofInstrument. (gh) Except for any Improvements or fixtures owned by Tenants under Leases and, with respect to the Individual Puerto Rico Properties, except as qualified by the PR Property Representation Condition and as may be affected by the Prior Hurricane Damage, Mortgage Borrower has paid in full for, and is the owner of, all furnishings, fixtures and equipment (other than Tenants’ propertyproperty or the property subject to a Permitted Equipment Lease) used in connection with the operation of the Property, free and clear of any and all security interests, liens or encumbrances, except the lien and security interest created by this Agreement, the Note, the Security Instrument and the other Mortgage Loan Documents and other security interests, liens and encumbrances permitted pursuant to this AgreementDocuments. (hi) To Borrower’s knowledge and except Except as set forth disclosed in any environmental condition report and/or the property condition report delivered reports provided or made available to Lender in connection with the closing of the Loan and with respect to the Individual Puerto Rico Properties, as the same may be affected by the Prior Hurricane Damage and except as qualified by the PR Property Representation ConditionLender, all liquid and solid waste disposal, septic and sewer systems located on the Property are in a good and safe condition and repair and in compliance with all Legal Requirements. (ij) Except as expressly disclosed on the Survey and except as set forth on Schedule 3.12(i)Survey, to BorrowerXxxxxxxx’s actual knowledge, no portion of the Improvements on any Individual Continental Property is located in an area identified by the Federal Emergency Management Agency or any successor thereto as an area having special flood hazards pursuant to the Flood Insurance Acts. Except as expressly disclosed on the Survey, to Borrower’s knowledge, no No part of any Individual Continental the Property consists of or is classified as wetlands, tidelands or swamp and overflow lands. (jk) To Borrower’s knowledge, except Except as expressly disclosed on the Survey or in the Title Insurance PolicySurvey, to Xxxxxxxx’s actual knowledge, all the Improvements on any Individual Continental Property lie within the boundaries of the Land and any building restriction lines applicable to the Land. To Borrower’s knowledge, and except as qualified by the PR Property Representation Condition and as may be affected by the Prior Hurricane Damage, all the Improvements on any Individual Puerto Rico Property lie within the boundaries of the PR Land and any building restriction lines applicable to the PR Land. (kl) To Borrower’s knowledge and except as set forth in the Title Insurance Policies except as set forth on Schedule 3.12(k), there are no Neither Borrower nor Mortgage Borrower has received any written notice of any pending or proposed special or other assessments for public improvements or otherwise affecting any Individual the Property, nor are there any contemplated improvements to any Individual Property that may result in such special or other assessments. (lm) Except in connection with respect to any Prior Hurricane Damage or PR Restorationroutine repairs and maintenance in the ordinary course of business and tenant improvements, and except as qualified by the PR Property Representation Condition and except as set forth on Schedule 3.12(l), Mortgage Borrower has not (i) made, ordered or contracted for any construction, repairs, alterations or improvements to be made on or to the Property which have not been completed and paid for in full or, to the extent not yet due and payable, will not (or shall be paid in full in the ordinary course in accordance with the terms and conditions of the Loan Documentsprior to delinquency), (ii) ordered materials for any such construction, repairs, alterations or improvements which have not been paid for in full or, to the extent not yet due and payable, will not (or shall be paid in full in the ordinary course in accordance with the terms and conditions of the Loan Documents prior to delinquency) or (iii) attached any fixtures to the Property which have not been paid for in full or, to the extent not yet due and payable, will not (or shall be paid in full in the ordinary course of Borrower’s business in accordance with the terms and conditions of the Loan Documentsprior to delinquency). Except for the Unfunded Obligations, Environmental Work, the PR Restoration work, and the additional environmental work set forth on Schedule 4.25 hereof and Immediate Repairs, to Borrower’s knowledge and except as qualified by the PR Property Representation Condition and except in connection with the Prior Hurricane Damage, there There is no such construction, repairs, alterations or improvements ongoing at the Property that have not been paid for as of the Closing Date. To Borrower’s knowledge and except as qualified by the PR Property Representation Condition and except in connection with the Prior Hurricane Damage, there There are no outstanding or disputed claims for any Work Charges and there are no outstanding liens or security interests in connection with any Work Charges that are not covered by the Title Insurance Policy. (m) The property address of each unit of each Individual Property is set forth on Schedule 1.1(a) and 1.1(b) attached heretoCharges. (n) Neither Borrower nor Mortgage Borrower has no any direct employees. All other Any personnel employed at or in connection with the Property are the direct employees of Manager or its Affiliates (other than Borrower)the applicable Tenant.