Common use of Condition of Property; Condemnation Clause in Contracts

Condition of Property; Condemnation. In the case of each Mortgage Loan, one or more engineering assessments were performed by an independent engineering consultant firm and except as set forth in an engineering report prepared in connection with such assessment, the related Mortgaged Property, to the Seller's knowledge, was as of origination, and, to Seller's actual knowledge, is as of the Closing Date, in good repair, free and clear of any damage that would materially and adversely affect its value as security for such Mortgage Loan. If an engineering report revealed any material damage or deficiencies, material deferred maintenance or other similar conditions either (1) an escrow of funds was required or a letter of credit was obtained in an amount sufficient to effect the necessary repairs or maintenance or (2) such repairs and maintenance have been completed. To Seller's knowledge, as of origination of such Mortgage Loan, there was no proceeding pending, and, to the Seller's actual knowledge, no such proceeding for the condemnation of all or any material portion of the Mortgaged Property securing any Mortgage Loan has been noticed or commenced. As of the date of the origination of each Mortgage Loan: (a) all of the material improvements on the related Mortgaged Property lay wholly within the boundaries and, to the extent in effect at the time of construction, building restriction lines of such property, except for encroachments that are insured against by the lender's title insurance referred to in Paragraph 8 below or that do not materially and adversely affect the value or marketability of such Mortgaged Property, and (b) no improvements on adjoining properties materially encroached upon such Mortgaged Property so as to materially and adversely affect the value or marketability of such Mortgaged Property, except those encroachments that are insured against by the lender's title insurance referred to in Paragraph 8 below.

Condition of Property; Condemnation. In the case of The Mortgaged Property for each Mortgage Loan, one Loan is in good repair and condition and free of any structural deficiencies or more engineering assessments were performed by an independent engineering consultant firm and except as set forth in an engineering report prepared in connection with such assessment, the related Mortgaged Property, to deferred maintenance that would influence the Seller's knowledge, was as of origination, and, ’s decision to Seller's actual knowledge, is as originate any such Mortgage Loan or the Buyer’s decision to purchase such Mortgage Loan in a Transaction. As of the Closing Date, in good repair, free and clear date of any damage that would materially and adversely affect its value as security for such Mortgage Loan. If an engineering report revealed any material damage or deficiencies, material deferred maintenance or other similar conditions either (1) an escrow of funds was required or a letter of credit was obtained in an amount sufficient to effect the necessary repairs or maintenance or (2) such repairs and maintenance have been completed. To Seller's knowledge, as of origination of such Mortgage Loanorigination, there was no proceeding pendingpending for the total or partial condemnation of any related Mortgaged Property that materially affects the value thereof, and, to the Seller's actual knowledge, there is no such pending proceeding for the total or partial condemnation of all or any material portion the related Mortgaged Property that materially affects the value thereof. To the best of Seller’s knowledge (based on surveys and/or title insurance obtained in connection with the origination of the Mortgaged Property securing any Mortgage Loan has been noticed or commenced. As Loans), as of the date of the origination of each Mortgage Loan: (a) , all of the material improvements on the related Mortgaged Property that were considered in determining the value of the Mortgaged Property lay wholly within the boundaries and, to the extent in effect at the time of construction, building restriction lines of such property, except for encroachments that are insured against by the lender's ’s title insurance policy referred to in Paragraph 8 below herein or that do not materially and adversely affect the value or marketability of such Mortgaged Property, and (b) no improvements on adjoining properties materially encroached upon such Mortgaged Property so as to materially and adversely affect the value or marketability of such Mortgaged Property, except those encroachments that are insured against by the lender's title insurance Title Policy referred to in Paragraph 8 belowherein.

Condition of Property; Condemnation. In the case of each Mortgage Loan, one or more engineering assessments were performed by an independent engineering consultant firm and except as set forth in an engineering report prepared in connection with the origination of such assessmentMortgage Loan, the related Mortgaged PropertyProperty is, to the Seller's knowledgeknowledge (after inquiry of its servicer, was as of origination, and, to Seller's actual knowledge, is as which servicer may be an affiliate of the Closing Date, in good repairSeller), free and clear of any damage that would materially and adversely affect its value as security for such Mortgage Loan. If an engineering report revealed Loan (except in any material damage or deficiencies, material deferred maintenance or other similar conditions either (1) such case where an escrow of funds was required or a letter of credit was obtained in an amount insurance coverage exists sufficient to effect the necessary repairs or maintenance or (2) such repairs and maintenance have been completedmaintenance). To Seller's knowledge, as The Seller has not received notice and has no knowledge of origination of such Mortgage Loan, there was no any proceeding pending, and, to the Seller's actual knowledge, no such proceeding pending for the condemnation of all or any material portion of the Mortgaged Property securing any Mortgage Loan has been noticed Loan. To the Seller's knowledge (based solely on surveys (if any) and/or the lender's title policy (or, if not yet issued, a pro forma title policy or commenced. As "marked up" commitment) obtained in connection with the origination of each Mortgage Loan), except as set forth on Schedule C-7, as of the date of the origination of each Mortgage Loan: , (a) all of the material improvements on the related Mortgaged Property lay wholly within the boundaries and, to the extent in effect at the time of construction, building restriction lines of such property, except for encroachments that are insured against by the lender's title insurance policy referred to in Paragraph 8 below or that do not materially and adversely affect the value value, marketability or marketability current use of such Mortgaged Property, and (b) no improvements on adjoining properties materially encroached upon such Mortgaged Property so as to materially and adversely affect the value or marketability of such Mortgaged Property, except those encroachments that are insured against by the lender's title insurance policy referred to in Paragraph 8 below.

Condition of Property; Condemnation. In the case of each Mortgage Loan, one or more engineering assessments were performed by an independent engineering consultant firm and except as set forth in an engineering report prepared in connection with the origination of such assessmentMortgage Loan, the related Mortgaged PropertyProperty is, to the Seller's knowledgeknowledge (after inquiry of its servicer, was as of origination, and, to Seller's actual knowledge, is as which servicer may be an affiliate of the Closing Date, in good repairSeller), free and clear of any damage that would materially and adversely affect its value as security for such Mortgage Loan. If an engineering report revealed Loan (except in any material damage or deficiencies, material deferred maintenance or other similar conditions either (1) such case where an escrow of funds was required or a letter of credit was obtained in an amount insurance coverage exists sufficient to effect the necessary repairs or maintenance or (2) such repairs and maintenance have been completedmaintenance). To Seller's knowledge, as The Seller has not received notice and has no knowledge of origination of such Mortgage Loan, there was no any proceeding pending, and, to the Seller's actual knowledge, no such proceeding pending for the condemnation of all or any material portion of the Mortgaged Property securing any Mortgage Loan has been noticed Loan. To the Seller's knowledge (based solely on surveys (if any) and/or the lender's title policy (or, if not yet issued, a pro forma title policy or commenced. As "marked up" commitment) obtained in connection with the origination of each Mortgage Loan), except as otherwise set forth on Schedule C-7, as of the date of the origination of each Mortgage Loan: , (a) all of the material improvements on the related Mortgaged Property lay wholly within the boundaries and, to the extent in effect at the time of construction, building restriction lines of such property, except for encroachments that are insured against by the lender's title insurance policy referred to in Paragraph 8 below or that do not materially and adversely affect the value value, marketability or marketability current use of such Mortgaged Property, and (b) no improvements on adjoining properties materially encroached upon such Mortgaged Property so as to materially and adversely affect the value or marketability of such Mortgaged Property, except those encroachments that are insured against by the lender's title insurance policy referred to in Paragraph 8 below.

Condition of Property; Condemnation. In the case of each Mortgage Loan, one or more engineering assessments were performed by an independent engineering consultant firm and except as set forth in an engineering report prepared by an independent engineering consultant in connection with the origination of such assessmentMortgage Loan, the related Mortgaged PropertyProperty is, to the Seller's knowledge, was as of origination, and, to Seller's actual knowledge, is as of the Closing Date, in good repair, repair and free and clear of any damage that would materially and adversely affect its value as security for such Mortgage Loan. If an engineering report revealed Loan (except in any material damage or deficiencies, material deferred maintenance or other similar conditions either (1) such case where an escrow of funds was required or a letter of credit was obtained in an amount insurance coverage exists sufficient to effect the necessary repairs or maintenance or (2) such repairs and maintenance have been completedmaintenance). To Seller's knowledge, as As of the date of origination of such the Mortgage Loan, there was no proceeding pending, and, to pending for the Seller's actual knowledge, condemnation of all or any material part of the related Mortgaged Property. The Seller has not received notice and has no such knowledge of any proceeding pending for the condemnation of all or any material portion of the Mortgaged Property securing any Mortgage Loan has been noticed or commencedLoan. As of the date of the origination of each Mortgage Loan: Loan and, to the Seller's knowledge, as of the Closing Date (a) all of the material improvements on the related Mortgaged Property lay wholly within the boundaries and, to the extent in effect at the time of construction, building restriction lines of such property, except and none of the material improvements on the related Mortgaged Property encroached over any easements, except, in each case, for encroachments that are insured against by the lender's title insurance policy referred to in Paragraph PARAGRAPH 8 below or that do not materially and adversely affect the value Value or marketability current use of such Mortgaged Property, Property and (b) no improvements on adjoining properties materially encroached upon such Mortgaged Property so as to materially and adversely affect the value or marketability Value of such Mortgaged Property, except those encroachments that are insured against by the lender's title insurance policy referred to in Paragraph PARAGRAPH 8 below.

Condition of Property; Condemnation. In The Mortgaged Property for each Loan is in good repair and condition and free of any structural deficiencies or deferred maintenance that would influence the case of each Mortgage originator’s decision to originate any such Loan or the Buyer’s decision to purchase such Loan, one or more engineering assessments were performed by an independent engineering consultant firm and except as set forth in an engineering report prepared in connection with such assessment, the related Mortgaged Property, to the Seller's knowledge, was as of origination, and, to Seller's actual knowledge, is as . As of the Closing Date, in good repair, free and clear date of any damage that would materially and adversely affect its value as security for such Mortgage Loan. If an engineering report revealed any material damage or deficiencies, material deferred maintenance or other similar conditions either (1) an escrow of funds was required or a letter of credit was obtained in an amount sufficient to effect the necessary repairs or maintenance or (2) such repairs and maintenance have been completed. To Seller's knowledge, as of origination of such Mortgage Loanorigination, there was no proceeding pendingpending for the total or partial condemnation of any related Mortgaged Property that materially affects the value thereof, and, to the Seller's actual knowledge, there is no such pending proceeding for the total or partial condemnation of all or any material portion the related Mortgaged Property that materially affects the value thereof. To the best of Seller’s knowledge (based on surveys and/or title insurance obtained in connection with the origination of the Mortgaged Property securing any Mortgage Loan has been noticed or commenced. As Loans), as of the date of the origination of each Mortgage Loan: (a) , all of the material improvements on the related Mortgaged Property that were considered in determining the value of the Mortgaged Property lay wholly within the boundaries and, to the extent in effect at the time of construction, building restriction lines of such property, except for encroachments that are insured against by the lender's ’s title insurance policy referred to in Paragraph 8 below herein or that do not materially and adversely affect the value or marketability of such Mortgaged Property, and (b) no improvements on adjoining properties materially encroached upon such Mortgaged Property so as to materially and adversely affect the value or marketability of such Mortgaged Property, except those encroachments that are insured against by the lender's title insurance Title Policy referred to in Paragraph 8 belowherein.

Condition of Property; Condemnation. In the case of each the Mortgage Loan, one or more engineering assessments were performed by an independent engineering consultant firm and except as set forth in an engineering report prepared in connection with such assessment, the related Mortgaged Property, to the Seller's knowledge, was as of origination, and, to Seller's actual knowledge, is as of the Closing Date, in good repair, free and clear of any damage that would materially and adversely affect its value as security for such the Mortgage Loan. If an engineering report revealed any material damage or deficiencies, material deferred maintenance or other similar conditions either (1) an escrow of funds was required or a letter of credit was obtained in an amount sufficient to effect the necessary repairs or maintenance or (2) such repairs and maintenance have been completed. To Seller's knowledge, as of origination of such the Mortgage Loan, there was no proceeding pending, and, to the Seller's actual knowledge, no such proceeding for the condemnation of all or any material portion of the Mortgaged Property securing any the Mortgage Loan has been noticed or commenced. As of the date of the origination of each the Mortgage Loan: (a) all of the material improvements on the related Mortgaged Property lay wholly within the boundaries and, to the extent in effect at the time of construction, building restriction lines of such property, except for encroachments that are insured against by the lender's title insurance referred to in Paragraph 8 below or that do not materially and adversely affect the value or marketability of such Mortgaged Property, and (b) no improvements on adjoining properties materially encroached upon such Mortgaged Property so as to materially and adversely affect the value or marketability of such Mortgaged Property, except those encroachments that are insured against by the lender's title insurance referred to in Paragraph 8 below.

Condition of Property; Condemnation. In the case of each Mortgage Loan, one or more engineering assessments were performed by an independent engineering consultant firm and except as set forth in an engineering A property inspection report was prepared in connection with such assessmentthe origination of each Mortgage Loan (except in certain cases where the Mortgaged Property was newly constructed). With respect to the Mortgaged Properties for which property inspection reports were prepared on or after July 1, 1999 or for which there is no property inspection report but a Certificate of Substantial Completion from an architect was submitted, other than as disclosed in the related report, (a) such Mortgaged PropertyProperty is, to the Seller's knowledge, was as of origination, and, to Seller's actual knowledge, is as of the Closing Date, in good repair, (i) free and clear of any damage that would materially and adversely affect its value as security for such the related Mortgage Loan. If an engineering report revealed any material damage or deficiencies, material deferred maintenance or other similar conditions either ; and (1ii) an escrow of funds was required or a letter of credit was obtained in an amount sufficient good repair and condition so as not to effect materially and adversely affect its value as security for the necessary repairs or maintenance or related Mortgage Loan; and (2b) such repairs and maintenance have been completed. To to the Seller's knowledge, all building systems contained on such Mortgaged Property are in good working order so as of origination of such not to materially and adversely affect its value as security for the related Mortgage Loan, there was no proceeding pending, and, . With respect to the Seller's actual knowledgeremaining Mortgaged Properties for which property inspection reports were prepared prior to July 1, 1999, (a) such Mortgaged Property is (i) free and clear of any damage that would materially and adversely affect its value as security for the related Mortgage Loan; and (ii) in good repair and condition so as not to materially and adversely affect its value as security for the related Mortgage Loan; and (b) all building systems contained on such Mortgaged Property are in good working order so as not to materially and adversely affect its value as security for the related Mortgage Loan. The Seller has received no such notice of the commencement of any proceeding for the condemnation of all or any material portion of any Mortgaged Property. To the Mortgaged Property securing any Seller's knowledge (based on surveys and/or title insurance obtained in connection with the origination of the Mortgage Loan has been noticed or commenced. As Loans), as of the date of the origination of each Mortgage Loan: (a) , all of the material improvements on the related Mortgaged Property that were considered in determining the value of the Mortgaged Property lay wholly within the boundaries and, to the extent in effect at the time of construction, and building restriction lines of such property, except for encroachments that are insured against by the lender's title insurance policy referred to in Paragraph 8 below herein or that do not materially and adversely affect the value or marketability of such Mortgaged Property, and (b) no improvements on adjoining properties materially encroached upon such Mortgaged Property so as to materially and adversely affect the value or marketability of such Mortgaged Property, except those encroachments that are insured against by the lender's title insurance Title Policy referred to in Paragraph 8 belowherein.