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1. Borrower represents and warrants that as of the
date hereof : "
i. Borrower is the owner and holder of the landlord's
interest under the Leases,
ii. there are no prior assignments of the Leases or of
any portion of the Rents due and payable or to become j
c~ue and payable thereunder which are presently i
outstanding,
i i i. the Leases, as approved, have not been modi f ied or €
amended, except
iv. all of the Leases are in full force and effect and
the respective terms thereof have commenced pursuant
to the provisions thereof, _
v. the premises demised under each of the Leases have
been completed.and the tenants under the Le~ses have
taken possession of the same on a rent-payinq basis,
vi. neither Borrow~er nor any tenant under the Leases is
in default under any of the terms, covenants or
provisions of the Leases and Borrower knows of no
event which, but for the passage of time or the '
giving of notice or both, would constitute an event
of default under any of the Leases,
vii. neither Borrower nor any tenant under the Leases has -
commenced any act ion or given or served any not ice
for the putpose of terminating any of the Leases, _
_ s
viii. all Rents due and payable under the Lease have been
paid in full and no such Rents have been paid more
than two (2) months in advance of the due dates
; thereof , and ~ ~
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' ix. there are no offsets or defenses to the payment of
~ any portion of the Rents.
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~ 2. ~Borrower s~all, at its sole cost and expense,
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~ _ i.~ observe and perform, or cause to be observed and
~ performed, each and every term, covenant and _
provision of the Leases on the part of the landlord
~ thereunder to be observed and performed,
~ ii. promptly send copies of all notices of d~fault which
~ Borrower sha12 send or receive under the Leases to -
~ Lende r, _
~ iii. enforce short of termination theceof, the observance
r~ and ~erformance of each and every term, covenant and
~ provision of the Leases on the part of the tenants
~ thereunder to be observed and performed, and
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