Mortgagor Representations and Warranties Clause
(Mortgage, Ground Leased Property)

Summary

This mortgagor representations and warranties clause should be included in a mortgage secured by a ground lease. These representations and warranties confirm certain information, protect the leasehold mortgagee and are drafted from the perspective of the leasehold mortgagee. This clause includes practical guidance and drafting notes. For a full listing of key content covering construction, see Commercial Real Estate Acquisition Loan Resource Kit. For a full listing of key content covering acquisition financing, see Junior Associate Real Estate Resource Kit (Acquisition Finance). As indicated in the drafting notes to the clause, the leasehold mortgagee should perform certain due diligence to confirm that the representations are in fact correct. The capitalized terms used in these clauses should be conformed to the defined terms in the relevant leasehold mortgage. For more on ground leases, see Ground Leasing. For a leasehold mortgage template, see [Leasehold] Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Acquisition Loan).