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201803263
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201803263
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Last modified
12/9/2019 6:37:50 PM
Creation date
5/24/2018 11:30:09 AM
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DEEDS
Inst Number
201803263
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5. Representations and Warranties of Borrower. Borrower hereby represents, <br />covenants and warrants to Lender as follows: <br />4833 -1883- 6326.3 <br />103736 \000096 <br />201803263 <br />(a) The representations and warranties in the Reimbursement Agreement and <br />the other Loan Documents are true and correct as of the date hereof. <br />(b) There is currently no Event of Default under the Reimbursement <br />Agreement, the Note or the other Loan Documents and Borrower does not know of any <br />event or circumstance which with the giving of notice or passing of time, or both, would <br />constitute an Event of Default under the Reimbursement Agreement, the Note or the <br />other Loan Documents. <br />(c) The Loan Documents are in full force and effect and, following the <br />execution and delivery of this Agreement, they continue to be the legal, valid and binding <br />obligations of Borrower enforceable in accordance with their respective terms, subject to <br />limitations imposed by general principles of equity. <br />(d) There has been no Material Adverse Occurrence since the date of the most <br />recent financial statement received by Lender. <br />(e) As of the date hereof, Borrower has no claims, counterclaims, defenses, or <br />set -offs with respect to the Loan Documents as modified herein. <br />(f) Borrower is validly existing under the laws of the State of its formation or <br />organization and has the requisite power and authority to execute and deliver this <br />Agreement and to perform the Loan Documents as modified herein. The execution and <br />delivery of this Agreement and the performance of the Loan Documents as modified <br />herein have been duly authorized by all requisite action by or on behalf of Borrower. <br />6. Limited Amendment; Ratification. This Agreement is given solely to amend <br />the Loan Documents as set forth herein. No further amendment or modification is made or <br />intended, and the terms and provisions of the Loan Documents, except as expressly modified <br />herein, shall continue in full force and effect after the date hereof. The warranties, <br />representations, covenants and agreements contained in the Loan Documents are hereby <br />specifically reaffirmed and remade by Borrower and each Loan Document is hereby ratified, <br />approved and confirmed in every respect. Borrower also hereby ratifies and confirms, as of the <br />date of the Loan Documents and as of the date hereof, the liens, encumbrances and security <br />interests in and on the Property intended to be created by the Loan Documents. <br />7. No Release or Novation. The obligations secured by the Loan Documents are <br />continuing obligations and nothing contained herein shall be deemed to release, terminate or <br />subordinate any lien, security interest or assignment created or evidenced by the Loan <br />Documents and all such liens, security interest and assignments and the priority thereof shall <br />relate back to the date that the Loan Documents were executed as referenced in the above <br />recitals. Borrower and Lender intend that this Agreement shall in no way affect the priority of <br />any such liens, security interest and assignments or constitute a novation of the indebtedness <br />secured thereby. <br />3 <br />
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