PARTICULARS OF PROPERTY MASTER TITLE NO. AND LOT PT NO. : Master Title No. H.S.(D) 82008, Lot No. P.T 5163 SECTION/TOWN/DISTRICT/STATE : Mukim of Petaling and District of Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur APPROXIMATE FLOOR AREA : 650 sq. feet. (60.39 sq. metres.) TENURE : Leasehold (99 years (expiring on 26/09/2094)) DEVELOPER / REGISTERED PROPRIETOR : Xxxxx Perusahan Sdn Bhd / Datuk Bandar Kuala Lumpur ENCUMBRANCE : Assigned to MALAYSIA BUILDING SOCIETY BERHAD LOCATION AND DESCRIPTION OF THE PROPERTY The subject property is a Three (3) Bedroom Low Cost Apartment identified as Parcel Xx. X00-00, Xxxxxx Xx. 0, Xxxxx Xxxxxx Kos Rendah Kampung Seri Malaysiaandbearing postal address at Xxxx Xx. X 00-00, Xxxxxxxxxx Xxx Xxxxxxxx, Xxxxx 0/000, Xxxxxxx Xxx Xxxxxxxx, 00000 Xxxxx Xxxxxx. RESERVE PRICE:- The property will be sold on an “as is where is” basis and subject to a reserve price of RM 95,000.00 (RINGGIT MALAYSIA NINETY FIVE THOUSAND ONLY), subject to the Conditions of Sale as printed in the Proclamation of Sale by way of an Assignment from the above Assignee/Lender subject to necessary confirmations/consent being obtained by the successful bidder (“the Purchaser”) from the Developer and/or other relevant authorities. Any arrears of quit rent, assessment, taxes, rates, maintenance charges and all other outgoing charges which are lawfully and rightfully due and payable to the Developer and/or other relevant authorities up to the date of the auction sale shall be paid out of the purchase money. All intending bidders are required to deposit with the Auctioneer 10% of the fixed reserve price for the said property by BANK DRAFT or CASHIER’S ORDERonly in favour of MALAYSIA BUILDING SOCIETY BERHADbefore the commencement of the auctionprior to the auction sale and pay the difference between the initial deposit and the sum equivalent to 10% of the successful bid price either in cash or bay way of credit card (Master / Visa) or bank draft or cashier’s orderand the balance of the purchase price (90%) shall be paid within one hundred and twenty (120) days from the date of the auction sale. For further particulars, please contact Messrs.Xxxx Xxxxxx & AssociatesSolicitors for the Assignee/Lender at Xxxx Xx. X-00-00, Xxx X, 00xx Xxxxx, Xxxx 12, Megan Avenue II, Xx. 00, Xxxxx Xxx Xxxx Xxxx, 50450 Kuala Lumpur.. Tel: 03-27155119Fax: 03-27157119 (Ref: MBSB/S1210000128) or the under mentioned Auctioneer:- MNP AUCTIONEERS (CENTRAL) SDN BHD (908971-X) SOON XXXX XXXX Penang Office (Main): Xx. 000, Xxxxx Xxxxxx Xxxxxx, 00000 Xxxxxx. KL Office: No. B-3A-2, Megan Avenue II, Xxxxx Xxx Xxxx Xxxx, 50450 Kuala Lumpur. Tel. No.: (PG): 00-000 0000, (KL) 00-0000 0000, H/P: 000-000 0000 / 000-000 0000 Fax No.: (PG): 00-000 0000 / (KL): 00-0000 0000 Email: xxxxx@xxx.xxx.xx Ref. No.: MNP/MBSB/KL/JUN15/2 Licensed Auctioneer PERISYTIHARAN JUALAN DALAM PERKARA PERJANJIAN PINJAMAN, SURATIKATAN PENYERAHHAKKAN XXX SURAT KUASA WAKIL KESEMUANYA BERTARIKH 30HB JUN 0000 XXXXXX XXXXXXXX BUILDING SOCIETY BERHAD (9417-K) PIHAK PEMEGANG SERAHHAK/PEMBERI PINJAMAN 1. KASSIM BIN MUSA (No. K/P: 370105-05-5269 / A0162914)
Management of Property (i) Each Individual Property will be managed at all times by the applicable Manager pursuant to a Management Agreement unless terminated as herein provided. Subject to Section 5.1(I), each Borrower and Operating Lessee shall comply with the terms of and enforce its rights under the Management Agreement in all material respects. The Management Agreement shall be terminated by Borrowers or Operating Lessee, at Lender’s request, upon thirty (30) days prior written notice to Borrowers, Operating Lessee and the applicable Manager (i) upon the occurrence of an Event of Default, (ii) if the applicable Manager commits any act which would permit termination by any Borrower or Operating Lessee under the Management Agreement and/or any applicable Franchise Agreement, (iii) the applicable Manager commits any act which constitutes an act of fraud, material misrepresentation, intentional misrepresentation, gross negligence, willful misconduct, misappropriation of funds, or intentional physical waste of any Individual Property, or (iv) Borrower changes the Manager or Franchisor of an Individual Property without prior written consent of Lender (except as otherwise permitted hereunder). If a manager is terminated pursuant hereto, or the Management Agreement is otherwise terminated by Manager pursuant to the terms contained therein, Borrowers and Operating Lessee shall promptly seek to appoint a replacement manager acceptable to Lender in Lender’s discretion, and Borrowers’ or Operating Lessee’s failure to appoint an acceptable manager within thirty (30) days after Lender’s request of Borrowers to terminate the Management Agreement or other termination of the Management Agreement shall constitute an immediate Event of Default. Borrowers or Operating Lessee may from time to time appoint a successor manager to manage an Individual Property, which successor manager shall be approved in writing by Lender in Lender’s discretion. Notwithstanding the foregoing, any successor manager selected hereunder by Lender, any Borrower or Operating Lessee to serve as Manager (a) shall be either (1) the Remington Manager provided, that the Remington Manager shall manage the applicable Individual Property pursuant to the terms of the master management agreement by and among the Borrowers and the Remington Manager, or (2) a reputable management company having at least seven (7) years’ experience in the management of commercial properties with similar uses as the Individual Properties and in the jurisdiction in which the Individual Properties are located and (ii) shall not be paid management fees in excess of fees which are market fees for comparable managers of comparable properties in the same geographic area.
Loss of Property all or a substantial part of the business or assets of any Security Party is destroyed, abandoned, seized, appropriated or forfeited for any reason, and such occurrence in the reasonable opinion of the Agent (acting on the instructions of the Majority Lenders) has or could reasonably be expected to have a Material Adverse Effect; or
Abandonment of Property We need not accept any property abandoned by an "insured".
Operation of Property To continue to operate the Property consistent with past practices.
Condition of Property Seller or the originator of the Mortgage Loan inspected or caused to be inspected each related Mortgaged Property within six months of origination of the Mortgage Loan and within twelve months of the Cut-off Date. An engineering report or property condition assessment was prepared in connection with the origination of each Mortgage Loan no more than twelve months prior to the Cut-off Date. To Seller’s knowledge, based solely upon due diligence customarily performed in connection with the origination of comparable mortgage loans, as of the Closing Date, each related Mortgaged Property was free and clear of any material damage (other than (i) deferred maintenance for which escrows were established at origination and (ii) any damage fully covered by insurance) that would affect materially and adversely the use or value of such Mortgaged Property as security for the Mortgage Loan.
Status of Property (a) The Land and Improvements are not located in an area identified by the Secretary of Housing and Urban Development, or any successor, as an area having special flood hazards pursuant to the National Flood Insurance Act of 1968, the Flood Disaster Protection Act of 1973, or the National Flood Insurance Reform Act of 1994, as each have been or may be amended, or any successor law (collectively, the “Flood Acts”) or, if located within any such area, Borrower has and will maintain the insurance prescribed in Section 3.06 below.
Possession of Property Possession of the Property free and clear of all uses and encroachments, except the Permitted Exceptions, shall be delivered to Purchaser at closing.
Condition of Properties All facilities, machinery, equipment, fixtures and other properties owned, leased or used by the Company are in reasonably good operating condition and repair, subject to ordinary wear and tear, and are adequate and sufficient for the Company’s business.
Description of Property A narrative description of the Real Estate, the improvements thereon and the tenants and Leases relating to such Real Estate.
