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(j) all real estate and personal property taxes, special <br /> assessments and any other taxes applicable to the Development or <br /> the property or operations of the Partnership which are or will <br /> be due and payable have been or will have been paid in full, and <br /> all escrow accounts for future such taxes and assessments are <br /> fully funded to the extent required by the provisions of the <br /> Mortgages; <br /> (k) the sole General Partner of the Partnership is RVC <br /> Investments, Inc. RVC Investments, Inc. is a California <br /> nonprofit public benefit corporation duly organized, validly <br /> existing and in good standing under the laws of the State of <br /> California. RVC Investments, Inc. has all requisite power and <br /> authority to conduct its present business and perform all of its <br /> obligations under the Agreement; <br /> (1) all of (i) the fixtures, maintenance supplies, tools, <br /> equipment and the like now owned by the Partnership or to be <br /> appurtenant to, or to be used in the operation of the <br /> Development, as well as (ii) the rents, revenues and profits <br /> earned from the operation of the Development, are free and clear <br /> of all security interests and encumbrances except for the <br /> Mortgages and any security agreements under them; <br /> (m) all materials furnished to the Limited Partners are true <br /> and complete in all material respects; <br /> (n) the Partnership has been registered as a tax shelter <br /> under the federal tax laws; <br /> -41- <br />