Condominiums. If the Mortgaged Property is a condominium unit or a planned unit development (other than a de minimis planned unit development), or stock in a cooperative housing corporation, such condominium, cooperative or planned unit development project meets the eligibility requirements of Fxxxxx Mxx and Fxxxxxx Mac.
Condominiums. Borrower shall not submit any Mortgaged Property to a condominium regime during the Term of this Agreement.
Condominiums. To the extent that this lease applies to condominiums, Lessee acknowledges that the premises is part of a condominium unit, and therefore Lessee’s use and occupancy of the premises is subject at all times to the terms of provisions, covenants and restrictions of the Declaration of the Condominium Ownership covering the building and all applicable rules, regulations and by-laws of the condominium association as amended or added to from time to time (collectively “Condominium Documents”), copies of which have been provided to the Lessee. The failure of Lessee to perform or observe any of the duties and obligations applicable to Lessee under the Condominium Documents shall constitute a default under this lease. Lessee shall indemnify Lessor and hold it harmless from any damages, direct or indirect, as a result of such non-performance by Lessee.
Condominiums. Borrower shall cause the applicable Individual Property Owner, with regard to each Condominium and the related Condominium Documents, to:
Condominiums. Each condominium project shall be reviewed by the Plan Commission and Village Board for the land development or subdivision elements of the project by reviewing the condominium plat and all supporting documents as required by Chapter 703 Wis. Stats., and other applicable statutes, as well as these land division and subdivision regulations, as if the project was a plat or certified survey map depending upon the number of lots and/or units involved. SECTIONS 83.06 – 83.08 Reserved. GENERAL PROVISIONS
Condominiums. Borrower intends to create a condominium form of ownership with respect to the Property, in order to permit the sale and separate ownership of the Penthouse Units. The declaration of condominium and all offering statements, prospectuses, contracts of sale for condominium units, deeds to condominium units and all other documents and matters relating to the creation of the condominium form of ownership for the Property and to the sale of condominium units (collectively, the “Condominium Documents”) shall prior to the filing of any such documents or the sale of any condominium units be approved by Lender and all appropriate governmental authorities having jurisdiction and shall be in full compliance with all applicable local and Federal laws, rules and regulation, including, without limitation, the laws and regulations of the State of Nevada relating to condominiums. The Condominium Documents shall not grant to the owners of the Penthouse Units any rights that materially adversely effect the remaining portions of the Property, and specifically, without limitation, the Condominium Documents shall not permit the owners of the Penthouse Unit to prevent the rebuilding of the Improvements following a casualty or a condemnation or prevent the owners of the portion of the Property other than the Penthouse Unit from making any alterations of the Property (other than alterations that would prevent access to the Penthouse Units). Borrower’s marketing plan for the condominium units shall satisfy all the requirements of and shall be in full compliance with all local and Federal laws, rules and regulations applicable to condominiums and the sale thereof, including, but not limited to the condominium laws of the State of Nevada and the rules and regulations pertaining thereto. The Condominium Documents shall not after approval by Lender and its counsel and acceptance and approval by the applicable governmental agencies be modified or amended in any material respect without the prior written consent of Lender, except for such modifications or amendments as may be required to conform the Condominium Documents to the requirements of applicable local and Federal laws, rules and regulations. Borrower hereby assigns to Lender all of Borrower’s right, title and interest in and to the Condominium Documents as additional security for the payment of the Debt and the observance and performance by Borrower of the terms, covenants and provisions of the Loan Documents on Borrower’s part...
Condominiums. The Borrower Parties shall not submit any Mortgaged Property to a condominium regime during the Term of this Agreement.
Condominiums. If such Property is a condominium unit, none of the Borrowers are “sponsors” or nominees of a “sponsor” under any plan of condominium organization affecting the unit, the ownership and sale of any such condominium unit will not violate any federal, state or local law or regulation regarding condominiums or require registration, qualification or similar action under such law or regulation and such condominium unit is in conformity with all requirement of the Federal National Mortgage Association relating to condominium units.
Condominiums. For use when Borrower owns all units in a condominium:
