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201505771 <br />DB1/ 67190172.2 <br />EXHIBIT A <br />Permitted Encumbrances and Exceptions <br />1. The lien of taxes and assessments for the current year and subsequent years. <br />2. Matters that would be shown by an accurate survey and inspection of the property. <br />3. All covenants, restrictions, conditions, easements, reservations, rights -of -way, and other <br />matters of record, to the extent valid, subsisting and enforceable. <br />4. Zoning requirements, statutes, rules, orders, restrictions, regulations and ordinances of <br />governmental agencies or their instrumentalities relating to the property, the buildings <br />located thereon, their construction and uses, in force on the date hereof (if any such <br />exist). <br />5. All roads and legal highways. <br />6. Rights of parties in possession (if any). <br />7. Any licenses, permits, authorizations or similar items (if any) in connection with the <br />conduct of any activity upon the property. <br />