Common use of Condominium Declaration Clause in Contracts

Condominium Declaration. Borrower hereby represents and warrants to Lender that (i) Cedar-▇▇▇▇▇▇▇, LLC, a Delaware limited liability company is the sole owner of all of the Units (as defined in the Condominium Declaration), Common Elements (as defined in the Condominium Declaration), Limited Common Elements (as defined in the Condominium Declaration) and other real property subject to the Condominium Declaration, (ii) Borrower is the sole Declarant (as defined in the Condominium Declaration) under the Condominium Declaration, (iii) the Association (as defined in the Condominium Declaration) has never been formed and there is no condominium association or other homeowner’s association in existence as of the date hereof, (iv) as of the date hereof, Borrower, as the holder of the Declarant rights, is not aware of any violation of the covenants, conditions, restrictions, rules and regulations set forth in the Condominium Declaration, and (v) the assessment regime set forth in the Condominium Declaration has not been established or imposed and, as of the date hereof, there are no assessments due and owing under the Condominium Declaration.