Common use of Warranties of Assignor Clause in Contracts

Warranties of Assignor. Assignor hereby warrants and represents the following: (a) Assignor is the sole holder of the landlord’s or owner’s interest under the Leases and has good right to sell, assign, transfer and set over the Leases and the Rents to Lender; (b) Assignor has made no assignment other than this Assignment of any of Assignor’s rights in any of the Leases or the Rents (and other than any assignment with respect to any loan being repaid in full with the proceeds of the Loan); (c) Except as otherwise disclosed in writing to Lender, all of the Leases provide for Rent to be paid monthly in advance, all Rent due to date has been collected and no Rent has been collected more than one month in advance; (d) To the best of Assignor’s actual knowledge, and except as otherwise disclosed in writing to Lender, no Tenant under any of the Leases has any defense, set off or counterclaim against Assignor; (e) The Schedule of Leases attached as Exhibit B lists all of the Leases currently in effect for the Real Property; (f) Each of the Leases and any amendments thereto submitted by Assignor to Lender constitutes the entire agreement between the parties thereto, and to Assignor’s actual knowledge there are no agreements, undertakings, representations, or warranties, either oral or written, which have not been submitted to Lender; (g) To the best of Assignor’s actual knowledge, each of the Leases is valid, in full force and effect, and enforceable in accordance with its terms; and (h) Except as otherwise disclosed in writing to Lender, no rental concession in the form of any period of free rent or any other waiver, release, reduction, discount or other alteration of the Rent due or to become due has been granted by Assignor or, to the best of Assignor’s actual knowledge, any prior landlord to any Tenant under the Leases for any period subsequent to the effective date of this Assignment.

Warranties of Assignor. Assignor hereby warrants makes the following representations ------------------------- and represents warranties, each of which representation and warranties shall survive the following: (a) Assignor is the sole holder assignment of the landlord’s or owner’s interest under Lease, is material and is being relied upon by Assignee in entering into this Agreement and Lessor in consenting to the Leases assignment of the Lease, and has good right to sell, assign, transfer is true in all respects as of the date of this Agreement and set over shall be true in all respects on the Leases and the Rents to LenderEffective Date; (b) Assignor has made no assignment other than this Assignment of any of Assignor’s rights in any of the Leases or the Rents (and other than any assignment with respect to any loan being repaid in full with the proceeds of the Loan); (c) Except as otherwise disclosed in writing to Lender, all of the Leases provide for Rent to be paid monthly in advance, all Rent due to date has been collected and no Rent has been collected more than one month in advance; (d) a. To the best knowledge of Assignor’s actual knowledge, and except as otherwise disclosed in writing to Lender, no Tenant under any of the Leases has any defense, set off or counterclaim against Assignor; (e) The Schedule of Leases attached as Exhibit B lists all of the Leases currently in effect for the Real Property; (f) Each of the Leases and any amendments thereto submitted by Assignor to Lender constitutes the entire agreement between the parties thereto, and to Assignor’s actual knowledge there are no agreements, undertakings, representations, or warranties, either oral or written, which have not been submitted to Lender; (g) To the best of Assignor’s actual knowledge, each of the Leases Lease is valid, in full force and effecteffect and is ratified by Assignor. b. The Lease constitutes the entire Agreement between Lessor and Assignor with respect to the Leased Premises, has not been assigned, supplemented or modified in any manner whatsoever, and enforceable no arrangements, agreement or understandings exist between Lessor and Assignor with respect to the Leased Premises, or either of them, except as specifically set forth in the Lease. c. All terms, covenants and conditions to be performed, discharged and satisfied by Lessor have been fully performed, discharged satisfied, including, without limitation, the completion of all improvements required to be completed by Lessor under the Lease, and all required contributions by Lessor to Assignor have been received. The term of the Lease commenced on or about September 18, 1986 and expires on May 31, 2006 (as extended by the FOURTH AMENDMENT), unless sooner terminated in accordance with its terms; and (h) Except as otherwise disclosed in writing to Lender, no rental concession in the form of any period of free rent or any other waiver, release, reduction, discount or other alteration terms of the Rent Lease. The current minimum rent due or to become due has been granted by Assignor or, to under the Lease is Three Thousand Nine Hundred Thirty-Seven and 04/100 ($3,937.04) per month. d. To the best knowledge of Assignor’s actual knowledge, any prior landlord to any Tenant under there is no existing defenses or offsets which Assignor has against the Leases enforcement of the Lease by Landlord and there exist no events which would constitute a basis for any period subsequent to such defenses or offsets upon the effective date lapse of this Assignmenttime or giving of notice, or both.