Access; Utilities; Separate Tax Lots Sample Clauses

Access; Utilities; Separate Tax Lots. Each Mortgaged Property (a) is located on or adjacent to a public road and has direct legal access to such road, or has access via an irrevocable easement or irrevocable right of way permitting ingress and egress to/from a public road, (b) is served by or has uninhibited access rights to public or private water and sewer (or well and septic) and all required utilities, all of which are appropriate for the current use of the Mortgaged Property, and (c) constitutes one or more separate tax parcels which do not include any property which is not part of the Mortgaged Property or is subject to an endorsement under the related Title Policy insuring the Mortgaged Property, or in certain cases, an application has been, or will be, made to the applicable governing authority for creation of separate tax lots, in which case the Mortgage Loan requires the Mortgagor to escrow an amount sufficient to pay taxes for the existing tax parcel of which the Mortgaged Property is a part until the separate tax lots are created.
Access; Utilities; Separate Tax Lots. Each Mortgaged Property (a) is located on or adjacent to a public road and has direct legal access to such road, or has access via an irrevocable easement or irrevocable right of way permitting ingress and egress to/from a public road,
Access; Utilities; Separate Tax Lots. The Mortgaged Property is part of a tax parcel that includes certain non-collateral property owned by Macy’s (the “Macy’s Parcel”). Pursuant to a reciprocal easement agreement between the Mortgagor and Macy’s, the Mortgagor is required to make any payments due on the shared tax parcel directly to the related taxing authority and Macy’s is required to reimburse the Mortgagor for its pro rata share of any such payment. During any period when the Mortgaged Property and the Macy’s Parcel constitute a shared tax lot, any borrower obligation to escrow taxes or covenants to pay taxes will include any taxes attributable to the Macy’s Parcel. Provided that it would be commercially reasonable to do so under the circumstances, the Mortgage Loan documents require the Mortgagor to apply for, and make commercially reasonable efforts to obtain, approval from the applicable governmental authorities for the division of the Mortgaged Property and the Macy’s Parcel into separate tax lots. In addition, the Mortgage Loan documents (i) provide recourse for losses incurred by the lender as a result of the Mortgaged Property not constituting a separate tax lot, (ii) require the Mortgagor to cooperate with the lender to effectuate a tax lot split in connection with any enforcement of remedies by the lender under the Mortgage Loan documents and (iii) grant a power of attorney to the lender during the continuance of an event of default to effectuate a tax lot split on behalf of the Mortgagor.
Access; Utilities; Separate Tax Lots. The Borrower is a party to ongoing litigation, the outcome of which may impact access rights to water resources for the Mortgaged Property.
Access; Utilities; Separate Tax Lots. The Mortgaged Property consists of a tax lot that includes property that is not part of the Mortgaged Property. The Loan Documents require the Borrower to escrow with lender taxes and other charges for the entire tax parcel.
Access; Utilities; Separate Tax Lots. South Texas Hotel Portfolio The mortgaged property referred to as the “Laredo Property” in the South Texas Hotel Portfolio is assessed as part of a larger tax lot. The related mortgage loan agreement, for purposes of the tax escrow calculation, uses the entire lot and not just the mortgaged property referred to as the “Laredo Property” for determining monthly reserve amounts. There is no indication that an application has been made to the applicable governing authority for the creation of a separate tax lot. The Title Policy does not contain a separate tax lot endorsement.
Access; Utilities; Separate Tax Lots. Woodbridge Corporate Plaza Leased Fee (Loan No. 15) The Mortgaged Property is comprised of the Mortgagor’s leased fee interest and is included within shared tax parcels with the leasehold improvements located thereon. Until such time as the Mortgaged Property is separately assessed, the Mortgage Loan documents require the Mortgagor to escrow for the payment of taxes attributable to both the leased fee interest and the leasehold improvements.
Access; Utilities; Separate Tax Lots. Each Project Property that is subject to a Standard Lease Transaction or subject to the Hybrid Lease Transactions listed on Schedule 3.13(i) hereto (A) is located on or adjacent to a public road and has direct legal access to such road, or has access via an irrevocable easement or irrevocable right of way permitting ingress and egress to/from a public road and (B) is served by or has uninhibited access to rights to public or private water and sewer (or well and septic) and all required utilities, to the extent all are appropriate for the current use of such Project Property. With respect to a Project Property subject to a Standard Lease Transaction, except for transmission, communications, access and similar easement parcels, such Project Property constitutes one or more separate tax parcels which do not include any property which is not part of such Project Property.
Access; Utilities; Separate Tax Lots. The 14110 S Atlantic Ave Mortgaged Property is comprised of two separate tax parcels, of which one tax parcel includes an adjacent property which is not part of the Mortgaged Property. An application has been made to the applicable governing authority for the creation of separate tax lots, and the Mortgage Loan requires the Borrower to escrow an amount sufficient to pay its allocated amount of taxes for said existing tax parcel of which the Mortgaged Property is a part until the separate tax lots are created. 24 Pangea 20 (25) Local Law Compliance Certain building code violations are open at the 1475 State Street and 5501 W Washington Plaza Mortgaged Properties. 30 Lockaway Storage (25) Local Law The truck rental use on the Mortgaged Annex A-1 ID# Mortgage Loans Representations Exceptions – Schertz Compliance Property is a non-conforming use.
Access; Utilities; Separate Tax Lots. The related Mortgaged Property is a separate tax lot, however, the current tax bill includes the parcel C adjacent to the Mortgaged Property and owned by an affiliate of borrower. Borrower has provided a covenant in the loan documents whereby if the parcel C is ever owned by an unaffiliated entity, borrower shall cause the tax bill to reflect only the current Mortgaged Property.