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The Company has duly authorized the execution, delivery and performance of this Agreement, has duly executed and delivered this Agreement;\n(iii) The execution and delivery of this Agreement by the Company and its performance and compliance with the terms of this Agreement will not violate the Company's Certificate of Formation or Limited Liability Company Agreement or constitute a material default (or an event which, with notice or lapse of time, or both, would constitute a material default) under, or result in the material breach of, any material contract, agreement or other instrument to which the Company is a party or which may be applicable to the Company or any of its assets or constitute a default or result in an acceleration under any of the foregoing, or result in the violation of any law, rule, regulation, order, judgment or decree to which the Company or its property is subject;\n(iv) This Agreement, assuming due authorization, execution and delivery by the Initial Owner, constitutes a valid, legal and binding obligation of the Company, enforceable against it in accordance with the terms hereof subject to applicable bankruptcy, insolvency, reorganization, moratorium and other laws affecting the enforcement of creditors' rights generally and to general principles of equity, regardless of whether such enforcement is considered in a proceeding in equity or at law;\n(v) No litigation is pending or, to the best of the Company's knowledge, threatened against the Company that would prohibit its entering into this Agreement or performing its obligations under this Agreement;\n(vi) No consent, approval, authorization or order of any court or governmental agency or body is required for the execution, delivery and performance by the Company or, or compliance by the Company with, this Agreement or the consummation of the transactions contemplated by this Agreement, except for such consents, approvals authorizations or orders, if any, that have been obtained prior to the Closing Date;\n(vii) The Company is an approved seller/servicer of conventional residential mortgage loans for \u2587\u2587\u2587\u2587\u2587\u2587 Mae or \u2587\u2587\u2587\u2587\u2587\u2587\u2587 Mac and is a HUD approved mortgagee pursuant to Section 203 of the National Housing Act, with the facilities, procedures, and experienced personnel necessary for the servicing of mortgage loans of the same type as the Mortgage Loans. The Company is in good standing to sell mortgage loans to and service mortgage loans for \u2587\u2587\u2587\u2587\u2587\u2587 Mae or \u2587\u2587\u2587\u2587\u2587\u2587\u2587 Mac, and no event has occurred, including but not limited to a change in insurance coverage, which would make the Company unable to comply with \u2587\u2587\u2587\u2587\u2587\u2587 Mae, \u2587\u2587\u2587\u2587\u2587\u2587\u2587 Mac or HUD eligibility requirements;\n(viii) No Litigation Pending. 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