Examples of Mortgaged Property in a sentence
Neither the Borrower nor the Guarantor is currently involved in a foreclosure or in a default on any indebtedness owing to the Permanent Lender or to any affiliate of the Permanent Lender or on any other indebtedness obtained for commercial purposes with respect to the Mortgaged Property.
To the best of the Borrower’s knowledge surface and storm water do not accumulate on the Mortgaged Property and do not drain from the Mortgaged Property across land of adjacent property owners, except as permitted by an easement or other agreement with such adjacent property owners.
Unless otherwise approved by the Bondholder Representative in writing, the Borrower agrees that all Mortgaged Property that consists of personal property (other than the books and records) will be located at the Project and that all books and records will be located at the Borrower’s place of business, which place of business will be immediately identified to Bondholder Representative upon request.
All of the Borrower’s obligations to creditors, including, but not limited to, all payments and accounts relating to the Mortgaged Property, are current.