Common use of Condominium Documents Clause in Contracts

Condominium Documents. (a) Borrower shall cause Mortgage Borrower to promptly pay or cause to be paid all Common Expenses when the same become due and payable with respect to the Individual Property. Borrower shall not permit Mortgage Borrower to waive any obligation to pay Common Expenses without Lxxxxx’s prior written consent. Borrower shall cause Mortgage Borrower to promptly and faithfully observe, perform and comply in all material respects with all of the terms, covenants and provisions of the Condominium Documents and shall not permit Mortgage Borrower to do, suffer or permit to be done any act, event or omission that may cause a default or breach under any of the Condominium Documents. Borrower or Mortgage Borrower shall promptly notify Lender of (i) any adjustments made to the percentage of any Common Expenses and (ii) the imposition of any special assessments levied or assessed under the Condominium Documents. Upon Lxxxxx’s request, Borrower or Mortgage Borrower shall provide Lender with copies of all statements issued by the Board for Common Expenses pursuant to the Condominium Documents promptly after Borrower’s or Mortgage Borrower’s receipt thereof. Borrower shall or shall cause Mortgage Borrower to furnish to Lender such information and such other evidence as Lender may request from time to time concerning the applicable Individual Mortgage Borrower’s due observance, performance and compliance with the terms, covenants and provisions of the Condominium Documents, including, without limitation, evidence that such Common Expenses been so paid or are not then delinquent.

Condominium Documents. (a) Borrower shall cause Mortgage Borrower to promptly pay or cause to be paid all Common Expenses when the same become due and payable with respect to the Individual Property. Borrower shall not permit Mortgage Borrower to waive any obligation to pay Common Expenses without LxxxxxAdministrative Agent’s prior written consent. Borrower shall cause Mortgage Borrower to promptly and faithfully observe, perform and comply in all material respects with all of the terms, covenants and provisions of the Condominium Documents and shall not permit Mortgage Borrower to do, suffer or permit to be done any act, event or omission that may cause a default or breach under any of the Condominium Documents. Borrower or Mortgage Borrower shall promptly notify Lender Administrative Agent of (i) any adjustments made to the percentage of any Common Expenses and (ii) the imposition of any special assessments levied or assessed under the Condominium Documents. Upon LxxxxxAdministrative Agent’s request, Borrower or Mortgage Borrower shall provide Lender Administrative Agent with copies of all statements issued by the Board for Common Expenses pursuant to the Condominium Documents promptly after Borrower’s or Mortgage Borrower’s receipt thereof. Borrower shall or shall cause Mortgage Borrower to furnish to Lender Administrative Agent such information and such other evidence as Lender Administrative Agent may request from time to time concerning the applicable Individual Mortgage Borrower’s due observance, performance and compliance with the terms, covenants and provisions of the Condominium Documents, including, without limitation, evidence that such Common Expenses been so paid or are not then delinquent.. 104

Condominium Documents. (a) Borrower shall cause Mortgage Borrower Landlord may determine to promptly pay or cause to be paid all Common Expenses when the same become due and payable establish a condominium with respect to the Individual PropertyBuilding. Borrower If Landlord determines to establish a condominium, then, so long as Tenant is provided with a customary non-disturbance agreement in form and substance reasonably acceptable to Tenant and Landlord, this Lease shall not permit Mortgage Borrower be subject and subordinate to waive any obligation to pay Common Expenses without Lxxxxx’s prior written consent. Borrower shall cause Mortgage Borrower to promptly and faithfully observe, perform and comply in all material respects with all of the terms, covenants and provisions of documents creating the Condominium Documents and shall not permit Mortgage Borrower to do, suffer or permit to be done any act, event or omission that may cause a default or breach under any of condominium (the “Condominium Documents. Borrower or Mortgage Borrower shall promptly notify Lender of ”); provided, however, that (i) any adjustments made to in the percentage exercise of any Common Expenses right thereunder, Landlord shall use reasonable efforts to minimize any interference with Tenant’s use and (ii) the imposition of any special assessments levied or assessed under the Condominium Documents. Upon Lxxxxx’s request, Borrower or Mortgage Borrower shall provide Lender with copies of all statements issued by the Board for Common Expenses pursuant to the Condominium Documents promptly after Borrower’s or Mortgage Borrower’s receipt thereof. Borrower shall or shall cause Mortgage Borrower to furnish to Lender such information and such other evidence as Lender may request from time to time concerning the applicable Individual Mortgage Borrower’s due observance, performance and compliance with the terms, covenants and provisions enjoyment of the Condominium DocumentsLeased Premises and any appurtenant rights herein granted, including, without limitation, evidence that Tenant’s access to and from the Leased Premises, the Garage and the Common Areas; and (ii) neither the creation of the condominium nor the Condominium Documents shall (a) adversely modify, or expressly permit adverse modification of, the repair, maintenance, operation or service requirements set forth in this Lease, (b) diminish or adversely affect, to more than a de minimis extent, Tenant’s use of, or access to, the Leased Premises or to the Common Areas or Tenant’s other rights under this Lease, (c) increase Tenant nonmonetary obligations under this Lease to more than a de minimis extent, (d) increase Tenant’s monetary obligations under this Lease, or (e) cause the usable area of the Leased Premises or its ceiling heights to be reduced beyond a de minimis amount. Without limiting the foregoing, in no event shall any common area charges allocable to the unit containing the Office Portion be included in Operating Costs (as hereinafter defined) under this Lease if such Common Expenses been so paid or are not then delinquentcommon area charges would otherwise be considered to be Exclusions (as hereinafter defined) but for the implementation of the condominium regime. If applicable, the “Condominium Property” shall refer to the Office Portion of the Building and common elements associated therewith, as described in the Condominium Documents.

Condominium Documents. (a) Borrower shall cause Mortgage Borrower to promptly pay or cause to be paid all Common Expenses when the same become due and payable with respect to the Individual Property. Borrower shall not permit Mortgage Borrower to waive any obligation to pay Common Expenses without Lxxxxx’s prior written consent. Borrower shall cause Mortgage Borrower to promptly and faithfully observe, perform and comply in all material respects with all Upon substantial completion of the termsBuilding, covenants and provisions of the Condominium Documents and Property shall not permit Mortgage Borrower be submitted to do, suffer or permit to be done any act, event or omission that may cause a default or breach under any of the Condominium Documents. Borrower or Mortgage Borrower shall promptly notify Lender of (i) any adjustments made to the percentage of any Common Expenses and (ii) the imposition of any special assessments levied or assessed under the Condominium Documents. Upon Lxxxxx’s request, Borrower or Mortgage Borrower shall provide Lender with copies of all statements issued by the Board for Common Expenses condominium regime pursuant to the Condominium Documents promptly after Borrower’s or Mortgage Borrower’s receipt thereofto permit separate ownership and financing of the Commercial/Garage Unit and the Retail Unit, provided, however, that notwithstanding the submission of the Property to a condominium regime, Landlord shall remain directly liable for the performance of all its obligations under this Lease. Borrower shall or shall cause Mortgage Borrower Xxxxxx agrees to furnish subordinate this Lease to Lender such information the Condominium Documents and such other evidence as Lender may request from time to time concerning the applicable Individual Mortgage Borrower’s due observance, performance all future amendments and compliance modifications thereto and enter into any instruments reasonably requested by Landlord in connection with the termsforegoing so long as the same are not inconsistent with and would not impair any of the rights of Tenant under this Lease. As a condition to such subordination, covenants and provisions Landlord shall deliver to Tenant a Non-Disturbance Agreement from the Board in the form of Exhibit P attached hereto (the “Board SNDA”). Tenant acknowledges that the Landlord shall establish the Condominium by recording the Condominium Documents with the Registry of Deeds upon substantial completion of the Building. Xxxxxx further acknowledges that it has reviewed drafts of the Condominium Documents, includingwhich Landlord has provided to Tenant prior to the date hereof. Landlord shall have the right to make changes to such draft Condominium Documents as Landlord deems necessary or desirable in Landlord’s sole discretion; provided, without limitationhowever, evidence that Tenant shall have the right to approve any such Common Expenses been so paid change (which approval shall not be unreasonably withheld, conditioned or are not then delinquentdelayed) that could reasonably be expected to (i) materially and adversely affect any of Tenant’s rights under this Lease (ii) increase any of Tenant’s obligations under this Lease. Further, (i) under no circumstances shall the Board have the right to terminate this Lease or impose or assess any fines or penalties of any kind directly to Tenant, and (ii) in the event the Board fails to perform any of its obligations under the Condominium Documents and there is any material adverse effect on any of Tenant’s rights hereunder as a result thereof, Tenant shall have the right to require that Landlord use diligent efforts, at its sole cost and expense, to perform such obligations as soon as possible.

Condominium Documents. (a) Borrower shall cause Mortgage Borrower This Lease is subject and subordinate to promptly pay or cause to be paid all Common Expenses when the same become due and payable with respect to the Individual Property. Borrower shall not permit Mortgage Borrower to waive any obligation to pay Common Expenses without Lxxxxx’s prior written consent. Borrower shall cause Mortgage Borrower to promptly and faithfully observe, perform and comply in all material respects with all of the terms, covenants covenants, conditions and provisions restrictions contained in the Condominium Documents, in the form as they exist on the date of this Lease, which Condominium Documents, in the final form presented to Tenant, have been accepted by Tenant prior to the date hereof. Tenant shall comply with the terms and conditions of the Condominium Documents and shall not permit Mortgage Borrower to do, suffer or permit to be done any act, event or omission that may cause a default or breach under any of the Condominium Documents. Borrower or Mortgage Borrower shall promptly notify Lender of (i) any adjustments made to the percentage of any Common Expenses extent same affect and (ii) the imposition of any special assessments levied or assessed under the Condominium Documents. Upon Lxxxxx’s request, Borrower or Mortgage Borrower shall provide Lender with copies of all statements issued by the Board for Common Expenses pursuant relate to the Condominium Documents promptly after Borrower’s or Mortgage Borrower’s receipt thereof. Borrower shall or shall cause Mortgage Borrower to furnish to Lender such information and such other evidence as Lender may request from time to time concerning the applicable Individual Mortgage Borrower’s due observance, performance and compliance with the terms, covenants and provisions of the Condominium DocumentsDemised Premises, including, without limitation, evidence payment of all charges and assessments levied or imposed upon Landlord or the Demised Premises pursuant thereto that accrue during and are related to periods falling within the Term, except as otherwise set forth in this Lease regarding the allocation between Landlord and Tenant for capital items and capital expenditure items, or any other provision, of this Lease and except for the portion of any charges or assessments for the Amenities or Amenities Space (each as defined in the Master Deed), all of which excepted items shall be paid for by Landlord; provided, however, in the event of any conflict between the terms, covenants, conditions and restrictions contained in the Condominium Documents and the express provisions of this Lease, then, as between Landlord and Tenant, the provisions of this Lease shall govern and control. Notwithstanding that Landlord is responsible for payment of charges or assessments attributable to the Amenities or Amenities Space, Tenant shall have the right to use the same as Common Elements under the Condominium Documents, so long as the same remain Common Elements. Landlord shall provide to Tenant a copy of any proposed budgets, assessments, amendment and/or restatement or modification of the Master Deed, the By-Laws and the Rules and Regulations (including any proposed Site Plan Amendment, Execution of Documents or Common Utility Plan Amendment (as each is defined in the Master Deed). Landlord shall not amend, or consent to any amendment of, or consent to or approve of any matter under, the Master Deed, the By-Laws and the Rules and Regulations in each case without Tenant’s prior written approval, which approval will not be unreasonably withheld, delayed or conditioned if the same does not impose additional monetary obligations upon Tenant, or if the same do not materially and adversely decrease Tenant’s right or increase Tenant’s obligations under this Lease, or materially and adversely affect Tenant’s use and occupancy of the Demised Premises, or access within the Center, in any which case Tenant’s consent may be given or withheld in Tenant’s sole and absolute discretion. Tenant’s response to a request for approval (a) shall be given or withheld within ten (10) business days after request, (b) shall be deemed approved if Tenant fails to grant or withhold such consent within five (5) business days after Landlord provides a second written notice to Tenant which references this section of the Lease and conspicuously states in bold, 12 point font or larger, that Tenant has failed to grant or withhold such consent within ten (10) business days after the first request, and if Tenant fails to respond to the second written notice within five (5) business days of delivery of the second notice it shall be deemed that Tenant’s consent has been granted. Landlord represents and warrants to Tenant that as of the date hereof, (i) the Master Deed, the By-Laws and the Rules and Regulations have not been modified, amended or terminated, other than those amendments previously provided to Tenant; (ii) the Master Deed, the By-Laws and the Rules and Regulations are currently in full force and effect; (iii) Landlord has received no written notice that Landlord is in default under the Master Deed, the By-Laws and the Rules and Regulations beyond any applicable notice and cure period and has no actual knowledge of any default by the Association; and (iv) to the best of Landlord’s knowledge, the Master Deed, the By-Laws and the Rules and Regulations are superior in lien to all mortgages and related liens affecting the Demised Premises. Provided no Event of Default has occurred and is then continuing, Landlord shall promptly provide Tenant a copy of all written notices and materials related thereto (e.g., notice of annual or special assessments and proposed budgets, assessments, amendments and/or restatements or modifications of the Master Deed, the By-Laws and the Rules and Regulations (including any proposed Site Plan Amendment, Execution of Documents or Common Expenses been Utility Plan Amendment (as each is defined in the Master Deed)) which are received by Landlord regarding matters which will be the subject of any voting by the board of directors of the Association, and if Tenant notifies Landlord in writing within ten (10) business days after request that Tenant disapproves the matter(s) which will be the subject of any voting by the board of directors of the Association, then Landlord will not vote to approve any such matter, it being understood that if Tenant fails to so paid notify Landlord within two (2) business days after Landlord provides a second written notice to Tenant which references this section of the Lease and conspicuously states in bold, 12 point font or larger, that Tenant has failed to so notify Landlord within ten (10) business days after the first request, and if Tenant fails to respond to the second written notice within two (2) business days of delivery of the second notice, then it shall be deemed that Tenant shall have notified Landlord of Tenant’s approval of such matter(s). Landlord shall promptly forward to Tenant a copy of any and all notices and/or demands received by Landlord under or pursuant to the Master Deed, the By-Laws and the Rules and Regulations, which affect the Demised Premises or Tenant’s use or occupancy of the Demised Premises, the conduct of Tenant’s business therein, or Tenant’s rights or obligations pursuant to this Lease, or the use of the Common Elements by Tenant, or any matters relating to costs of the Association that may be Tenant’s obligation under the Lease. Following Landlord’s acquisition of the Land, Landlord shall obtain any third-party approvals required under the Master Deed, the By-Laws and the Rules and Regulations for the performance of Landlord’s Work, including, without limitation, Tenant’s elevations and signage. Landlord shall, at Tenant’s sole cost and expense, reasonably cooperate with and take all reasonably necessary actions in order to allow Tenant to inspect and audit the Association’s charges pursuant to Section 13.5 of the Master Deed, and Landlord shall take all necessary actions to make such records available to Tenant for inspection, copying and auditing. In accordance with Section 7.3 of the Master Deed, any agreements entered into by the Association with Landlord or an Affiliate of Landlord to perform services for the Association shall be based on commercially reasonable terms, and to the extent the same are not on commercially reasonable terms, then delinquent.any above-market charges incurred by the Association with respect to such agreements and allocated to Landlord under the Condominium Documents shall be paid by Landlord. No home office overhead, general and or administrative expenses, or executive salaries of any Affiliate of Landlord or the Sponsor (as defined in the Master Deed) shall be payable by Tenant, and to the extent the same is charged by the Association, shall be paid by Landlord. Tenant shall have the right to restrict parking and access to and upon the Limited Common Elements appurtenant to the Demised Premises and to otherwise exercise the rights and powers granted to Landlord with respect to the Demised Premises, as the Unit Owner thereof, to restrict the use and operation of the Limited Common Elements, all subject to and in accordance with the conditions and limitations set forth in the Master Deed and only to the extent the same affects the Demised Premises. Provided no Event of Default has occurred and is continuing, at the end of the Term, any capital or other reserves funded by Tenant to the Association shall be refunded by Landlord to Tenant, to the extent not previously expended by the Association. Anything herein this Lease to the contrary notwithstanding, if and so long as the Sponsor or any other Unit Owner, or their respective successors and assigns, is an Affiliate of Landlord, Landlord agrees to cause such Sponsor or Unit Owner to exercise any of its rights and powers in a manner that is consistent with this Lease, and does not diminish Tenant’s rights hereunder and does not increase Tenant’s obligations. Other than in connection with any collateral assignment made by Landlord in connection with any mortgage loan granted by Landlord, Landlord and any Affiliate of Landlord shall not transfer or convey to the owner of another Unit, or any other party, or lease or license to any occupant or user of any another Unit, or otherwise authorize or permit the use of any part of the Demised Premises or all or any portion of the Limited Common Elements appurtenant to the Demised Premises, by any party other than Tenant and Tenant’s invitees and no party(ies) shall be permitted or authorized by Landlord or any Affiliate of Landlord to utilize parking on the Limited Common elements appurtenant to the Demised Premises. As part of Landlord’s acquisition of the Land, Landlord shall obtain an estoppel certificate addressed to Tenant from the Association in the form attached hereto as Exhibit L.

Condominium Documents. (a) Borrower shall cause Mortgage Borrower to promptly pay or cause to be paid all Common Expenses when the same become due and payable with respect to the Individual Property. Borrower shall not permit Mortgage Borrower to waive any obligation to pay Common Expenses without Lxxxxx’s prior written consent. Borrower shall cause Mortgage Borrower to promptly and faithfully observe, perform and comply in all material respects with all of the terms, covenants and provisions of the Condominium Documents and shall not permit Mortgage Borrower to do, suffer or permit to be done any act, event or omission that may cause a default or breach under any of the Condominium Documents. Borrower or Mortgage Borrower shall promptly notify Lender of (i) any adjustments made to the percentage of any Common Expenses and (ii) the imposition of any special assessments levied or assessed under the Condominium Documents. Upon Lxxxxx’s request, Borrower or Mortgage Borrower shall provide Lender with copies of all statements issued by the Board for Common Expenses pursuant to the Condominium Documents promptly after Borrower’s or Mortgage BorrowerBxxxxxxx’s receipt thereof. Borrower shall or shall cause Mortgage Borrower to furnish to Lender such information and such other evidence as Lender may request from time to time concerning the applicable Individual Mortgage BorrowerBxxxxxxx’s due observance, performance and compliance with the terms, covenants and provisions of the Condominium Documents, including, without limitation, evidence that such Common Expenses been so paid or are not then delinquent.