Common use of Zoning Matters Clause in Contracts

Zoning Matters. Borrowers acknowledge that there are the following parking deficiencies at certain of the Properties (collectively, the “Parking Deficiencies”): (i) according to the existing zoning laws of the City of Herndon, Virginia, the number of automobile parking spaces on the Property known as Embassy Suites — Dulles Airport located at 1▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇ in Herndon, Virginia (the “Dulles Property”), is deficient by two (2) spaces, and (ii) according to the existing zoning laws of the City of Syracuse, New York, the number of automobile parking spaces on the Property known as Embassy Suites — Syracuse located at 6▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇ in East Syracuse, New York (the “Syracuse Property”), is deficient by five (5) spaces. Borrowers hereby represent and warrant to Lender that there is sufficient vacant land area on each of the Dulles Property and the Syracuse Property to enable Borrowers to eliminate the Parking Deficiencies by restriping the parking spaces on the Dulles Property and the Syracuse Property, respectively. Borrowers hereby covenant and agree that if Borrowers receive any violation notice with respect to any of the Parking Deficiencies or if the applicable Governmental Authority shall otherwise require that any of the Parking Deficiencies be remedied, Borrowers shall continuously and diligently take, or cause to be taken, all actions and do, or cause to be done, all things necessary to eliminate such Parking Deficiencies, which actions shall in all events be taken in compliance with all applicable Legal Requirements. Borrowers shall keep Lender advised beforehand as to the actions to be taken by Borrowers to comply with the provisions of this Section 4.1.15, shall provide Lender with true and correct copies of all submittals regarding, concerning or relating to the elimination of the Parking Deficiencies prior to the submission of the same to any Governmental Authority, shall provide Lender with true and correct copies of all documents regarding, concerning or relating to the elimination of the Parking Deficiencies prior to the execution of the same, and shall promptly advise Lender of all material developments regarding, concerning or relating to the Parking Deficiencies or the elimination thereof.

Zoning Matters. Borrowers acknowledge that there are the following parking deficiencies at certain of the Properties (collectively, the “Parking Deficiencies”): (i) according to the existing zoning laws of the City of Herndon, Virginia, the number of automobile parking spaces on the Property known as Embassy Suites — Dulles Airport located at 1▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇ in Herndon, Virginia (the “Dulles Property”), is deficient by two (2) spaces, and (ii) according to the existing zoning laws of the City of Syracuse, New York, the number of automobile parking spaces on the Property known as Embassy Suites — Syracuse located at 6▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇ in East Syracuse, New York (the “Syracuse Property”), is deficient by five (5) spaces. Borrowers hereby represent and warrant to Lender that there is sufficient vacant land area on each of the Dulles Property and the Syracuse Property to enable Borrowers to eliminate the Parking Deficiencies by restriping the parking spaces on the Dulles Property and the Syracuse Property, respectively. Borrowers hereby covenant and agree that if Borrowers receive any violation notice with respect to any of the Parking Deficiencies or if the applicable Governmental Authority shall otherwise require that any of the Parking Deficiencies be remedied, Borrowers shall continuously and diligently take, or cause to be taken, all actions and do, or cause to be done, all things necessary to eliminate such Parking Deficiencies, which actions shall in all events be taken in compliance with all applicable Legal Requirements. Borrowers shall keep Lender advised beforehand as to the actions to be taken by Borrowers to comply with the provisions of this Section 4.1.15, shall provide Lender with true and correct copies of all submittals regarding, concerning or relating to the elimination of the Parking Deficiencies prior to the submission of the same to any Governmental Authority, shall provide Lender with true and correct copies of all documents regarding, concerning or relating to the elimination of the Parking Deficiencies prior to the execution of the same, and shall promptly advise Lender of all material developments regarding, concerning or relating to the Parking Deficiencies or the elimination thereof.

Zoning Matters. (a) Borrowers acknowledge that there are the following parking deficiencies at certain of the Properties (collectively, the “Parking Deficiencies”): (i) according to the existing zoning laws of the City of HerndonJacksonville, VirginiaFlorida, the number of automobile parking spaces on the Property known as Embassy Springhill Suites — Dulles Airport – Jacksonville located at 1▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇ in Herndon, Virginia (the “Dulles Property”), is deficient by two (2) spaces, and (ii) according to the existing zoning laws of the City of Syracuse, New York, the number of automobile parking spaces on the Property known as Embassy Suites — Syracuse located at 6▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇ in East SyracuseJacksonville, New York Florida (the “Syracuse Jacksonville Property”), is deficient by five one (51) spacesspace (the “Parking Deficiency”). Borrowers hereby represent and warrant to Lender that there is sufficient vacant land area on each of the Dulles Property and the Syracuse Jacksonville Property to enable Borrowers to eliminate the Parking Deficiencies Deficiency by restriping the parking spaces on the Dulles Property and the Syracuse Jacksonville Property, respectively. Borrowers hereby covenant and agree that if Borrowers receive any violation notice with respect to any of the Parking Deficiencies Deficiency or if the applicable Governmental Authority shall otherwise require that any of the Parking Deficiencies Deficiency be remedied, Borrowers shall continuously and diligently take, or cause to be taken, all actions and do, or cause to be done, all things necessary to eliminate such the Parking DeficienciesDeficiency, which actions shall in all events be taken in compliance with all applicable Legal Requirements. Borrowers shall keep Lender advised beforehand as to the actions to be taken by Borrowers to comply with the provisions of this Section 4.1.154.1.15(a), shall provide Lender with true and correct copies of all submittals regarding, concerning or relating to the elimination of the Parking Deficiencies Deficiency prior to the submission of the same to any Governmental Authority, shall provide Lender with true and correct copies of all documents regarding, concerning or relating to the elimination of the Parking Deficiencies Deficiency prior to the execution of the same, and shall promptly advise Lender of all material developments regarding, concerning or relating to the Parking Deficiencies Deficiency or the elimination thereof. (b) Borrowers acknowledge that (i) there are three open building permits with respect to the Property known as Hampton Inn – Evansville located at ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ in Evansville, Indiana (the “Hampton Inn Evansville Property”), and (ii) there is one open building permit with respect to the Property known as Residence Inn by Marriott – Evansville located at ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ in Evansville, Indiana (the “Marriott Evansville Property”). Borrowers hereby covenant and agree that, from and after the Closing Date and subject to any other applicable provisions of this Agreement, Borrowers shall continuously and diligently take, or cause to be taken, all actions and do, or cause to be done, all things necessary to close such open building permits, which actions shall in all events be taken in compliance with all applicable Legal Requirements and shall be completed no later than February 15, 2006. In the event that the City of Evansville, Indiana or any other Governmental Authority shall require that any action be taken with respect to any such open building permit, Borrowers shall promptly comply with such requirement. Borrowers shall keep Lender advised beforehand as to the actions to be taken by Borrowers to comply with the provisions of this Section 4.1.15(b), shall provide Lender with true and correct copies of all submittals regarding, concerning or relating to the closure of such open building permits prior to the submission of the same to the applicable Governmental Authority, shall provide Lender with true and correct copies of all documents regarding, concerning or relating to the closure of such open building permits prior to the execution of the same, and shall promptly advise Lender of all material developments regarding, concerning or relating to such open building permits or the closure thereof.

Zoning Matters. (a) Borrowers acknowledge that there are the following parking deficiencies at certain of the Properties (collectively, the “Parking Deficiencies”): (i) according to the existing zoning laws of the City of HerndonJacksonville, VirginiaFlorida, the number of automobile parking spaces on the Property known as Embassy Springhill Suites — Dulles Airport – Jacksonville located at 14▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇ in HerndonJacksonville, Virginia Florida (the “Dulles Jacksonville Property”), is deficient by two one (21) spaces, and (ii) according to the existing zoning laws of the City of Syracuse, New York, the number of automobile parking spaces on the Property known as Embassy Suites — Syracuse located at 6▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇ in East Syracuse, New York space (the “Syracuse PropertyParking Deficiency”), is deficient by five (5) spaces. Borrowers hereby represent and warrant to Lender that there is sufficient vacant land area on each of the Dulles Property and the Syracuse Jacksonville Property to enable Borrowers to eliminate the Parking Deficiencies Deficiency by restriping the parking spaces on the Dulles Property and the Syracuse Jacksonville Property, respectively. Borrowers hereby covenant and agree that if Borrowers receive any violation notice with respect to any of the Parking Deficiencies Deficiency or if the applicable Governmental Authority shall otherwise require that any of the Parking Deficiencies Deficiency be remedied, Borrowers shall continuously and diligently take, or cause to be taken, all actions and do, or cause to be done, all things necessary to eliminate such the Parking DeficienciesDeficiency, which actions shall in all events be taken in compliance with all applicable Legal Requirements. Borrowers shall keep Lender advised beforehand as to the actions to be taken by Borrowers to comply with Pool 2 the provisions of this Section 4.1.154.1.15(a), shall provide Lender with true and correct copies of all submittals regarding, concerning or relating to the elimination of the Parking Deficiencies Deficiency prior to the submission of the same to any Governmental Authority, shall provide Lender with true and correct copies of all documents regarding, concerning or relating to the elimination of the Parking Deficiencies Deficiency prior to the execution of the same, and shall promptly advise Lender of all material developments regarding, concerning or relating to the Parking Deficiencies Deficiency or the elimination thereof. (b) Borrowers acknowledge that (i) there are three open building permits with respect to the Property known as Hampton Inn – Evansville located at 8▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ in Evansville, Indiana (the “Hampton Inn Evansville Property”), and (ii) there is one open building permit with respect to the Property known as Residence Inn by Marriott – Evansville located at 8▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ in Evansville, Indiana (the “Marriott Evansville Property”). Borrowers hereby covenant and agree that, from and after the Closing Date and subject to any other applicable provisions of this Agreement, Borrowers shall continuously and diligently take, or cause to be taken, all actions and do, or cause to be done, all things necessary to close such open building permits, which actions shall in all events be taken in compliance with all applicable Legal Requirements and shall be completed no later than February 15, 2006. In the event that the City of Evansville, Indiana or any other Governmental Authority shall require that any action be taken with respect to any such open building permit, Borrowers shall promptly comply with such requirement. Borrowers shall keep Lender advised beforehand as to the actions to be taken by Borrowers to comply with the provisions of this Section 4.1.15(b), shall provide Lender with true and correct copies of all submittals regarding, concerning or relating to the closure of such open building permits prior to the submission of the same to the applicable Governmental Authority, shall provide Lender with true and correct copies of all documents regarding, concerning or relating to the closure of such open building permits prior to the execution of the same, and shall promptly advise Lender of all material developments regarding, concerning or relating to such open building permits or the closure thereof.