|
200400766,
<br />(d) Disclosure: No representation or warranty of Borrower in this Security
<br />Instrument or any statement or certificate furnished or to be furnished by Borrower
<br />pursuant to this Security Instrument or in connection with the transactions contemplated
<br />herein contains or shall contain any untrue, inaccurate, or misleading statement of material
<br />fact or omits to state a material fact necessary in order to make a statement contained
<br />therein not misleading.
<br />(e) Financial Information: The most recent annual financial statements of the
<br />Guarantor, Michael D. Raasch, delivered to Lender during the loan application process at
<br />Lender's request (the "Annual Financial Statements and Federal Income Tax Returns ")
<br />accurately present the financial condition of the Guarantor referred to therein.
<br />(f) Litigation: No suits, actions, governmental investigations or inquiries,
<br />proceeding (including, without limitation, condemnation or eminent domain proceedings),
<br />or other litigation is pending or, to the best of Borrower's knowledge, proposed or
<br />threatened, against or affecting Borrower, the Property, or the Collateral which, singularly
<br />or in the aggregate, if adversely determined, would materially inhibit or impair Borrower's
<br />ability to perform hereunder or reduce or restrict Borrower's interest in the Property or the
<br />Collateral, and Borrower knows of no basis for any such litigation.
<br />(g) Loan Documents: All representations and warranties of Borrower contained
<br />in the Note, Assignment of Leases and Rents and the Hazardous Substances Certificate
<br />and Indemnity Agreement entered into by Borrower are true and accurate in all material
<br />respects to the extent not inconsistent with the representations and warranties of Borrower
<br />contained herein.
<br />(h) Property: Neither the whole nor any portion of the Property is subject to any
<br />pending condemnation, taking, or other similar proceeding by any public or private
<br />authority, and, to the best of Borrower's knowledge, no such condemnation or taking is
<br />threatened or contemplated with respect to the Property. Borrower is unaware of and has
<br />not been notified of any plan, study, or effort by any governmental authority or agency
<br />which in any way affects or would affect the present use or zoning of the Property nor any
<br />existing, proposed, or contemplated plan to widen, modify, or realign any street or
<br />highway adjoining the Property. The Property and the occupancy by or operation of the
<br />Borrower's business at the Property is not in violation of any law or any building, zoning,
<br />fire, health, or other ordinance, code, or regulation, and neither Borrower nor any tenant
<br />has received any notice or request from any governmental authority, insurance company or
<br />board of fire underwriters alleging any such violation or requiring or calling attention to
<br />the need for any work, repairs, construction, alterations or installation on or in connection
<br />with the Property which has not been heretofore complied with. There exist adequate
<br />rights of egress from and ingress to the Property, and there is currently adequate access to
<br />all water, sewer, gas, electric, telephone, drainage, and other utility equipment and services
<br />required by law or necessary for the operation of the business currently operated on the
<br />Property, and, to the best of Borrower's knowledge, no fact, condition, or threatened or
<br />proposed action exists which would or could have the effect of diminishing such rights.
<br />(i) Environmental Matters: For purposes of this Security Instrument, "Hazardous
<br />Substances" shall mean asbestos in a friable state or condition, non - contained
<br />polychlorinated biphenyls ( "PCBS "), petroleum or petroleum products, and any hazardous
<br />or toxic waste or substance or related material defined or treated as a "hazardous
<br />substance" or "toxic substance" or "hazardous waste" or "toxic waste" (or comparable
<br />term) in the Comprehensive Environmental Response, Compensation and Liability Act (42
<br />U.S.C. 9601, et seq.) ( "CERCLA "), the Hazardous Materials Transportation Act (49
<br />U.S.C. 1801, et seq.), the Resource Conservation and Recovery Act (42 U.S.C. 6901, et.
<br />seq.) ( "RCRA "), or any other applicable federal, state or local statute, law or ordinance,
<br />and any rules and regulations promulgated thereunder (jointly, the "Applicable
<br />Environmental Law "). No Hazardous Substances have been generated, used, discharged,
<br />dispersed, released, disposed of, or allowed to escape on or under the Property in violation
<br />of Applicable Environment Law. No asbestos or asbestos - containing substance presently
<br />in a condition or in a sufficient quantity as to violate Applicable Environmental Law has
<br />been installed, used, incorporated into or disposed of on the Property. No underground
<br />liquid storage tanks are located on the Property. No notice has been received by Borrower
<br />or any tenant with respect to, nor is Borrower aware of any basis for, any federal, state or
<br />local agency investigation, administrative order, consent order or decree, litigation, or
<br />
|