West Orange Fourth Round HEFSP_adopted 111025_Appendices

Section 3. -Residential Rental Property. The Owner hereby represents, covenants, warrants and agrees that: (a) The proposed project is located in the Township of West Orange in the County of Essex, in a residential neighborhood. The project involves the acquisition and renovation of a three- bedroom condominium home. (b) The Project is to be utilized at all times in accordance with the types of use as permitted by the Act and the Program and as may be approved by the Agency. The Project shall be subject to use and occupancy and/or lease agreements between the Owner and the residents. arrants and covenants Section 4. Low Income Tenants. The Owner hereby represe Tenants for a period that all of the units shall be occupied or available for occupancy by of thirty (30) years from the date hereof. Section 5. Additional Representations, Covenayts an: ranties of the Owner. The Owner represents, warrants and covenants th: organized, validly existing and in good transact business in the State; (if) has its Certificate of Incorporation with all thority to own or lease its properties and assets, including the Project and the Lan on its business as now being conducted (and as now contemplated), and to borrow théproegeds of the Loans; and (iii) has the power to execute and perform all the undertakings of thig Agreement and the other Loan Documents. (a) The Owner (i) is a non-profit corporat standing under the laws of the State and duly ai filed with the Agency a true and complete, o amendments, if any, thereto; (iii) has the (b) All necessary leg: che been taken to authorize the execution, delivery and performance of the Loan Dogum: y the Owner. the valid and legally bin obligations of the Owner, enforceable against the Owner in accordance {c) The Loan sna ave been duly executed and delivered by the Owner and constitute with their respective (d) To f the Owner's knowledge after due and diligent inquiry, the execution and performance of t greement, the Loan Documents and other instruments required pursuant to this Agreement by the Owner, (i) will not violate or, as applicable, have not violated, any provision of law, rule or regulations, any order of any court or other agency or government or any provision of any document to which the Owner is a party, and (ii) will not violate or, as applicable, have not violated, any provision of any indenture, agreement or

other agency or government or any provision of any document to which the Owner is a party, and (ii) will not violate or, as applicable, have not violated, any provision of any indenture, agreement or other instrument to which the Owner is a party, or result in the creation or imposition of any lien, charge or encumbrance of any nature other than the Permitted Encumbrances. (c) The Owner will, at the time of execution of this Agreement or at the time of the closing of the Loan and subject only to such exceptions as have been disclosed in writing to the Agency and which will not materially interfere with or impact the beneficial use of the Project and Land for purposes of the Project; have good and marketable title to fee simple interest in the premises 4