111.01C
Lease Modifications
Requirements
As you review each Material Commercial Lease Material Commercial LeaseLease, sublease, license, concession, grant, or other possessory interest for commercial purposes comprising 5% or more of the Property's annual EGI, or relating to: solar power, thermal power generation, or co-power generation, or the installation of solar panels or any other… modification, you must consider if it:
- violates any of the requirements of this Section;
- contains terms that are inconsistent with the Mortgage Loan Mortgage LoanMortgage debt obligation evidenced, or when made will be evidenced, by the Loan Documents, or a mortgage debt obligation with a Fannie Mae credit enhancement. Test Notes-SV Test Again Sub-bullet test1 Sub-bullet test2 ; or
- presents risks that are inappropriate for the Mortgage Loan Mortgage LoanMortgage debt obligation evidenced, or when made will be evidenced, by the Loan Documents, or a mortgage debt obligation with a Fannie Mae credit enhancement. Test Notes-SV Test Again Sub-bullet test1 Sub-bullet test2 .
If any of these conditions are present you must:
- require the Borrower BorrowerPerson who is the obligor per the Note. to modify the Material Commercial Lease Material Commercial LeaseLease, sublease, license, concession, grant, or other possessory interest for commercial purposes comprising 5% or more of the Property's annual EGI, or relating to: solar power, thermal power generation, or co-power generation, or the installation of solar panels or any other… appropriately; or
- address the items in the Tenant Estoppel Certificate ( Form 6413 ) and/or the Subordination, Non-Disturbance, and Attornment Agreement ( Form 6415 ).