Ask a real estate pro: Should I be worried after bank denies condo loan because of ‘rec lease?’

Q: I am buying a condo unit. My lender just told me they found a reference in the community documents to a “rec lease.” The association told them it was paid off, but the bank wanted more proof and denied my loan. I found a local bank that will give me a loan if the association states in writing that the rec lease was paid off. Should I be concerned with this? — Anna

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