Fallbrook Mall Loan Clause Samples

Fallbrook Mall Loan. There was a post closing condition to obtain a new CO for a portion of the old Sears space that was converted into a health club and restaurant (both have licenses). There was an exception in the Officer's Certificate with respect to the CO for that particular deal. A $2,000,000 escrow at closing was required in connection with a condition under the Kmart lease, and a condition of the release of those funds included the delivery of the new COs.