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in good standing under the laws of the Sta.s indicated in the preamble
hereof, (u) has the corporate po~ver and autho?i~v to own its properties
and to carry on its business as notv being conductecl, ( iii ) has fully paid .
capital stock issued and outstanding, (iv, is qualified to do business in the
jurisdiction in t~•hich the Land is located, and (v) is in compliance with all
laws, regulations, ~rdinances and orders of public authorities applicable to
it and ( b) if a partnership, ( i) is duly organized, validly e~sting and in
good standing under the la~i~s of the state indicated in the preamble hereof,
( ii ) has partnership power and authority to o~vn its properties and to carry
on its business as now being conducted, (ui) is qualified to do business in
the jurisdiction in which the Land is located and is in compliance ~vith all
la~~s, regulations, ordinances and orders of public authorities applicable
to it.
3.2 VALIDITY OF IAAN INSTRUMENTS. (a) The execution, deliverq
and performance by Mortgagor of the Note and the Security Documents,
and the borro~ving evidenced by the Note, {i) are within the corporate
powers or partnership po~vers and purposes of Mortgagor, ( u) have been
duly authorized by all requisite corporate or partnership action, (iii) have '
:
received all necessary governmental approval, and (iv) will not violate any
provision of law, any order of any court or other agency of government, - '
the articies of incorporadon or the azticles of paztnership or bylaws of
Mortgagor or any indenture, agreement or other instrument to which Mort-
gagor is a pazty or by which it or any of its property is bound or be in con-
flict with, result in a breach of or constitute (with due notice and/or lapse
of time) a default under any such indenture, agreement or other instru-
ment, or result in the creation or imposition of any lien, charge or en-
cumbrance of any nature whatscever upon any of its property or assets,
except as contemplated by the provisions of the Security Documents; and
(b) the Note and the Security Documents, ~vhen executed and deiivered f
by 141ortgagor, t~ill constitute the legal, valid and binding obligations of -
l~iortgagor and other obligors named therein, if any, in accordance with
their respective terms.
3.3 Orx~x INFOF.~tATION. AIl other information, reports, papers
and data given to illortgagee with respect to b4ortgagor, to the loan
e~~idenced by the l~ote and Security Documents or to others , obligated
under the terms of d~e Securit}- Documents are accurate and correct in
~ooK 208 P~~E2848
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