Common use of Leaseholds Clause in Contracts

Leaseholds. With respect to any ground lease to which a Mortgaged Property is subject, (1) a true, correct and complete copy of the ground lease and all amendments, modifications and supplements thereto is included in the servicing file, and the Mortgagor is the owner of a valid and subsisting leasehold interest under such ground lease; (2) such ground lease is in full force and effect, unmodified and not supplemented by any writing or otherwise except as contained in the Mortgage File, (3) all rent, additional rent and other charges reserved therein have been fully paid to the extent payable as of the Purchase Date, (4) the Mortgagor enjoys quiet and peaceful possession of the leasehold estate, subject to any sublease, (5) the Mortgagor is not in default under any of the terms of such ground lease, and there are no circumstances that, with the passage of time or the giving of notice, or both, would result in a default under such ground lease, (6) the lessor under such ground lease is not in default under any of the terms or provisions of such ground lease on the part of the lessor to be observed or performed, (7) the lessor under such ground lease has satisfied any repair or construction obligations due as of the Purchase Date pursuant to the terms of such ground lease, (8) the execution, delivery and performance of the Mortgage do not require the consent (other than those consents which have been obtained and are in full force and effect) under, and will not contravene any provision of or cause a default under, such ground lease, (9) the ground lease term extends, or is automatically renewable, for at least five years after the maturity date of the Note; (10) the Buyer has the right to cure defaults on the ground lease and (11) the ground lease meets the guidelines of the applicable Agency, FHA, VA, RHS or HUD, as applicable.

Leaseholds. With respect to any ground lease to which If the Mortgage Loan is secured by a Mortgaged Property is subject, leasehold estate: (1A) a true, correct and complete copy of the ground lease and all amendments, modifications and supplements thereto is included in the servicing file, and the Mortgagor is the owner of a valid and subsisting leasehold interest under such ground lease; (2B) such ground lease is in full force and effect, unmodified and not supplemented by any writing or otherwise except as contained in the Mortgage File, otherwise; (3C) all rent, additional rent and other charges reserved therein have been fully paid to the extent payable as of the Purchase related Closing Date, ; (4D) the Mortgagor enjoys the quiet and peaceful possession of the leasehold estate, subject to any sublease, ; (5E) the Mortgagor is not in default under any of the terms of such ground lease, and there are no circumstances thatwhich, with the passage of time or the giving of notice, or both, would result in a default under such ground lease, ; (6F) the lessor under such ground lease is not in default under any of the terms or provisions of such ground lease on the part of the lessor to be observed or performed, ; (7G) the lessor under such ground lease has satisfied any repair or construction obligations due as of the Purchase related Closing Date pursuant to the terms of such ground lease, ; (8) H) the execution, delivery and performance of the Mortgage do not require the consent (other than those consents which have been obtained and are in full force and effect) under, and will not contravene any provision of or cause a default under, such ground lease, ; (9I) the ground term of such lease term extends, or is automatically renewable, for at least does not terminate earlier than five (5) years after the maturity date of the Mortgage Note; (10) the Buyer has the right to cure defaults on the ground lease and (11J) the ground lease meets is assignable or transferable; (K) the guidelines ground lease does not provide for termination of the applicable Agencylease in the event of lessee’s default without the mortgagee being entitled to receive written notice of, FHA, VA, RHS or HUD, as applicable.and a reasonable opportunity to cure the default; (L) the ground lease permits the mortgaging of the related Mortgaged Property; (M) the ground lease protects the mortgagee’s interests in the event of a property condemnation; and (N) the use of leasehold estates for residential properties is a widely accepted practice in the jurisdiction in which the Mortgaged Property is located;

Leaseholds. With respect to any ground lease to which a Mortgaged Property is subject, (1) a true, correct and complete copy of the ground lease and all amendments, modifications and supplements thereto is included in the servicing file, and the Mortgagor is the owner of a valid and subsisting leasehold interest under such ground lease; (2) such ground lease is in full force and effect, unmodified and not supplemented by any writing or otherwise except as contained in the Mortgage File, (3) all rent, additional rent and other charges reserved therein have been fully paid to the extent payable as of the Purchase Date, (4) the Mortgagor enjoys quiet and peaceful possession of the leasehold estate, subject to any sublease, (5) the Mortgagor is not in default under any of the terms of such ground lease, and there are no circumstances that, with the passage of time or the giving of notice, or both, would result in a default under such ground lease, (6) the lessor under such ground lease is not in default under any of the terms or provisions of such ground lease on the part of the lessor to be observed or performed, (7) the lessor under such ground lease has satisfied any repair or construction obligations due as of the Purchase Date pursuant to the terms of such ground lease, (8) the execution, delivery and performance of the Mortgage do not require the consent (other than those consents which have been obtained and are in full force and effect) under, and will not contravene any provision of or cause a default under, such ground lease, (9) the ground lease term extends, or is automatically renewable, for at least five ten years after the maturity date of the Note; (10) the Buyer has the right to cure defaults on the ground lease and (11) the ground lease meets the guidelines of the applicable Agency, FHA, VA, RHS or HUD, as applicable.

Leaseholds. With respect to any ground Part 2.9(b) of the Disclosure Schedule sets forth as of the Agreement Date an accurate and complete list of each lease (i) pursuant to which any real property (or any interest in real property) that is occupied by any Acquired Company (other than the Specified Subsidiary) on the Agreement Date and involves premises measuring in excess of 2,000 square feet is leased or licensed to or by any Acquired Company (other than the Specified Subsidiary); (ii) pursuant to which any real property (or any interest in real property) that is occupied by the Specified Subsidiary on the Agreement Date and involves premises measuring in excess of 10,000 square feet is leased or licensed to or by the Specified Subsidiary; or (iii) pursuant to which any real property (or any interest in real property) that constitutes a Mortgaged Property “mother hub” is subject, (1) a true, correct leased or licensed to or by any Acquired Company. The Company has Made Available to Purchaser accurate and complete copy copies of the ground lease all such Company Leases. Each Company Lease is in good standing and all amendments, modifications and supplements thereto is included in the servicing file, and the Mortgagor is the owner of a valid and subsisting leasehold interest under such ground lease; (2) such ground lease is in full force and effect. An Acquired Company has valid leasehold title to each Leased Real Property, unmodified in each case, free and not supplemented by clear of any writing or otherwise except as contained in the Mortgage File, Encumbrances (3other than Permitted Encumbrances). With respect to each Company Lease: (A) all rent, rents and additional rent and other charges reserved therein rents have been fully paid to the extent payable as paid; (B) no waiver, indulgence or postponement of the Purchase Date, lessee’s obligations has been granted by the lessor; (4C) the Mortgagor enjoys quiet and peaceful possession of the leasehold estate, subject to any sublease, (5) the Mortgagor is not in default under any of relevant Acquired Company has at all times complied with the terms of such ground leaseeach Company Lease; (D) there have been no events of default which, and there are taken together, would entitle the lessor to terminate any Company Lease; (E) no circumstances thatevent has occurred or circumstance or condition exists which, with the passage of time or the giving of notice, the lapse of time or boththe happening of any other event or condition, will or would result in reasonably be expected to become a default under such ground lease, (6) the lessor under such ground lease is not in default under any of the terms or provisions of such ground lease Company Lease on the part of any Acquired Company; and (F) to the lessor Knowledge of the Company, all of the covenants to be observed or performed by any other party under any Company Lease have been fully performed. All of the structures, (7) facilities, fixtures, systems, improvements and other items of property owned by any Acquired Company and located on any Leased Real Property are suitable in all material respects for the lessor under purpose of conducting the business of such ground lease has satisfied any repair or construction obligations due Acquired Company and as of the Purchase Date pursuant to Agreement Date, no Acquired Company has received any notice or other communication stating that the terms operation thereof by such Acquired Company as currently conducted is in violation of such ground leaseany Company Lease, (8) any applicable building code, zoning ordinance, Contract or any other applicable Legal Requirement. To the execution, delivery and performance Knowledge of the Mortgage do not require the consent (other than those consents Company, no parcel of Leased Real Property is subject to any decree or order of a Governmental Entity to be sold or is being condemned, expropriated or otherwise taken by any Governmental Entity in a manner which have been obtained and are in full force and effect) under, and will not contravene any provision of or cause a default under, such ground lease, (9) the ground lease term extendswill, or is automatically renewablewould reasonably be expected to, for at least five years after the maturity date deprive any Acquired Company of the Note; (10) the Buyer has the right to cure defaults on the ground lease and (11) the ground lease meets the guidelines of the applicable Agency, FHA, VA, RHS or HUD, as applicable.its leasehold interest therein. 2.10

Leaseholds. With respect to any ground lease to which If the Mortgage Loan is secured by a Mortgaged Property is subject, leasehold estate: (1) a true, correct and complete copy of the ground lease and all amendments, modifications and supplements thereto is included in the servicing file, and the Mortgagor is the owner of a valid and subsisting leasehold interest under such ground lease; (2) such ground lease is in full force and effect, unmodified and not supplemented by any writing or otherwise except as contained in the Mortgage File, otherwise; (3) all rent, additional rent and other charges reserved therein have been fully paid to the extent payable as of the Purchase related Closing Date, ; (4) the Mortgagor enjoys the quiet and peaceful possession of the leasehold estate, subject to any sublease, ; (5) the Mortgagor is not in default under any of the terms of such ground lease, and there are no circumstances thatwhich, with the passage of time or the giving of notice, or both, would result in a default under such ground lease, ; (6) the lessor under such ground lease is not in default under any of the terms or provisions of such ground lease on the part of the lessor to be observed or performed, ; (7) the lessor under such ground lease has satisfied any repair or construction obligations due as of the Purchase related Closing Date pursuant to the terms of such ground lease, ; (8) the execution, delivery and performance of the Mortgage do not require the consent (other than those consents which have been obtained and are in full force and effect) under, and will not contravene any provision of or cause a default under, such ground lease, ; (9) the ground term of such lease term extends, or is automatically renewable, for at least does not terminate earlier than five (5) years after the maturity date of the Mortgage Note; (10) the Buyer has the right to cure defaults on the ground lease and is assignable or transferable; (11) the ground lease meets the guidelines does not provide for termination of the applicable Agencylease in the event of lessee’s default without the mortgagee being entitled to receive written notice of, FHA, VA, RHS or HUD, as applicableand a reasonable opportunity to cure the default; (12) the ground lease permits the mortgaging of the related Mortgaged Property; (13) the ground lease protects the mortgagee’s interests in the event of a property condemnation; and (14) the use of leasehold estates for residential properties is a widely accepted practice in the jurisdiction in which the Mortgaged Property is located.

Leaseholds. Except with respect to Mortgage Loans secured by property located in the state of Hawaii, none of the Mortgage Loans are secured by mortgaged properties that are located on leaseholds. With respect to any ground lease to which a Mortgaged Property is subject, each Mortgage Loan secured by property located on leaseholds: (1) the lessor under the lease holds a true, correct and complete copy of the ground lease and all amendments, modifications and supplements thereto is included fee simple interest in the servicing file, and the Mortgagor is the owner of a valid and subsisting leasehold interest under such ground leaseland; (2) the terms of such ground lease expressly permit the mortgaging of the leasehold estate, the assignment of the lease without the lessor’s consent and the acquisition by the holder of the Mortgage of the rights of the lessee upon foreclosure or assignment in lieu of foreclosure or provide the holder of the Mortgage with substantially similar protections; (3) the terms of such lease do not (a) allow the termination thereof upon the lessee’s default without the holder of the Mortgage being entitled to receive written notice of, and opportunity to cure, such default, (b) allow the termination of the lease in the event of damage or destruction as long as the Mortgage is in existence, (c) prohibit the holder of the Mortgage from being insured (or receiving proceeds of insurance) under the hazard insurance policy or policies relating to the Mortgaged Property or (d) permit any increase in rent other than pre-established increases set forth in the lease; (4) the original term of such lease is not less than 15 years; (5) the term of such lease does not terminate earlier than ten years after the maturity date of the Mortgage Note; (6) the Mortgaged Property is located in a jurisdiction in which the use of leasehold estates in transferring ownership in residential properties is a widely accepted practice; (7) the lease is in full force and effect, unmodified and not supplemented by any writing or otherwise except as contained in otherwise; (8) the Mortgage File, (3) all rent, additional rent and other charges reserved therein have been fully paid to the extent payable as of the Purchase Date, (4) the Mortgagor enjoys quiet and peaceful possession of the leasehold estate, subject to any sublease, (5) the Mortgagor mortgagor is not in default under any of the terms of such ground lease, thereof and there are no circumstances thatwhich, with the passage of time or the giving of notice, notice or both, would result in a constitute an event of default under such ground lease, thereunder; (69) the lessor under such ground the lease is not in default under any of the terms or provisions of such ground lease thereof on the part of the lessor to be observed or performed, (7) the lessor under such ground lease has satisfied any repair or construction obligations due as of the Purchase Date pursuant to the terms of such ground lease, (8) the execution, delivery and performance of the Mortgage do not require the consent (other than those consents which have been obtained and are in full force and effect) under, and will not contravene any provision of or cause a default under, such ground lease, (9) the ground lease term extends, or is automatically renewable, for at least five years after the maturity date of the Note; (10) the Buyer lease or a memorandum thereof has been recorded and by its terms permits the right leasehold estate to cure defaults on the ground lease be mortgaged; and (11) such Mortgage Loan conforms to the Fanxxx Xxe Selling Guide in connection ground lease meets the guidelines of the applicable Agency, FHA, VA, RHS or HUD, as applicable.leases;

Leaseholds. Except with respect to Mortgage Loans secured by property located in the state of Hawaii, none of the Mortgage Loans are secured by mortgaged properties that are located on leaseholds. With respect to any ground lease to which a Mortgaged Property is subject, each Mortgage Loan secured by property located on leaseholds: (1) the lessor under the lease holds a true, correct and complete copy of the ground lease and all amendments, modifications and supplements thereto is included fee simple interest in the servicing file, and the Mortgagor is the owner of a valid and subsisting leasehold interest under such ground leaseland; (2) the terms of such ground lease expressly permit the mortgaging of the leasehold estate, the assignment of the lease without the lessor’s consent and the acquisition by the holder of the Mortgage of the rights of the lessee upon foreclosure or assignment in lieu of foreclosure or provide the holder of the Mortgage with substantially similar protections; (3) the terms of such lease do not (a) allow the termination thereof upon the lessee’s default without the holder of the Mortgage being entitled to receive written notice of, and opportunity to cure, such default, (b) allow the termination of the lease in the event of damage or destruction as long as the Mortgage is in existence, (c) prohibit the holder of the Mortgage from being insured (or receiving proceeds of insurance) under the hazard insurance policy or policies relating to the Mortgaged Property or (d) permit any increase in rent other than pre-established increases set forth in the lease; (4) the original term of such lease is not less than 15 years; (5) the term of such lease does not terminate earlier than ten years after the maturity date of the Mortgage Note; (6) the Mortgaged Property is located in a jurisdiction in which the use of leasehold estates in transferring ownership in residential properties is a widely accepted practice; (7) the lease is in full force and effect, unmodified and not supplemented by any writing or otherwise except as contained in otherwise; (8) the Mortgage File, (3) all rent, additional rent and other charges reserved therein have been fully paid to the extent payable as of the Purchase Date, (4) the Mortgagor enjoys quiet and peaceful possession of the leasehold estate, subject to any sublease, (5) the Mortgagor mortgagor is not in default under any of the terms of such ground lease, thereof and there are no circumstances thatwhich, with the passage of time or the giving of notice, notice or both, would result in a constitute an event of default under such ground lease, thereunder; (69) the lessor under such ground the lease is not in default under any of the terms or provisions of such ground lease thereof on the part of the lessor to be observed or performed, (7) the lessor under such ground lease has satisfied any repair or construction obligations due as of the Purchase Date pursuant to the terms of such ground lease, (8) the execution, delivery and performance of the Mortgage do not require the consent (other than those consents which have been obtained and are in full force and effect) under, and will not contravene any provision of or cause a default under, such ground lease, (9) the ground lease term extends, or is automatically renewable, for at least five years after the maturity date of the Note; (10) the Buyer lease or a memorandum thereof has been recorded and by its terms permits the right leasehold estate to cure defaults on the ground lease be mortgaged; and (11) such Mortgage Loan conforms to the Xxxxxx Mae Selling Guide in connection ground lease meets the guidelines of the applicable Agency, FHA, VA, RHS or HUD, as applicableleases.

Leaseholds. With respect to any ground lease to which a Mortgaged Property is subject, (1) a true, correct and complete copy of the ground lease and all amendments, modifications and supplements thereto is included in the servicing file, and the Mortgagor is the owner of a valid and subsisting leasehold interest under such ground lease; (2) such ground lease is in full force and effect, unmodified and not supplemented by any writing or otherwise except as contained in the Mortgage File, (3) all rent, additional rent and other charges reserved therein have been fully paid to the extent payable as of the Purchase Date, (4) the Mortgagor enjoys quiet and peaceful possession of the leasehold estate, subject to any sublease, (5) the Mortgagor is not in default under any of the terms of such ground lease, and there are no circumstances that, with the passage of time or the giving of notice, or both, would result in a default under such ground lease, (6) the lessor under such ground lease is not in Schedule 1-9 LEGAL02/41072931v2 default under any of the terms or provisions of such ground lease on the part of the lessor to be observed or performed, (7) the lessor under such ground lease has satisfied any repair or construction obligations due as of the Purchase Date pursuant to the terms of such ground lease, (8) the execution, delivery and performance of the Mortgage do not require the consent (other than those consents which have been obtained and are in full force and effect) under, and will not contravene any provision of or cause a default under, such ground lease, (9) the ground lease term extends, or is automatically renewable, for at least five years after the maturity date of the Note; (10) the Buyer has the right to cure defaults on the ground lease and (11) the ground lease meets the guidelines of the applicable Agency, FHA, VA, RHS VA or HUD, as applicable.

Leaseholds. Except with respect to Mortgage Loans secured by property located in the state of Hawaii, none of the Mortgage Loans are secured by mortgaged properties that are located on leaseholds. With respect to any ground lease to which a Mortgaged Property is subject, each Mortgage Loan secured by property located on leaseholds: (1) the lessor under the lease holds a true, correct and complete copy of the ground lease and all amendments, modifications and supplements thereto is included fee simple interest in the servicing file, and the Mortgagor is the owner of a valid and subsisting leasehold interest under such ground leaseland; (2) the terms of such ground lease expressly permit the mortgaging of the leasehold estate, the assignment of the lease without the lessor’s consent and the acquisition by the holder of the Mortgage of the rights of the lessee upon foreclosure or assignment in lieu of foreclosure or provide the holder of the Mortgage with substantially similar protections; (3) the terms of such lease do not (a) allow the termination thereof upo n the lessee’s default without the holder of the Mortgage being entitled to receive written notice of, and opportunity to cure, such default, (b) allow the termination of the lease in the event of damage or destruction as long as the Mortgage is in existence, (c) prohibit the holder of the Mortgage from being insured (or receiving proceeds of insurance) under the hazard insurance policy or policies relating to the Mortgaged Property or (d) permit any increase in rent other than pre-established increases set forth in the lease; (4) the original term of such lease is not less than 15 years; (5) the term of such lease does not terminate earlier than ten years after the maturity date of the Mortgage Note; (6) the Mortgaged Property is located in a jurisdiction in which the use of leasehold estates in transferring ownership in residential properties is a widely accepted practice; (7) the lease is in full force and effect, unmodified and not supplemented by any writing or otherwise except as contained in otherwise; (8) the Mortgage File, (3) all rent, additional rent and other charges reserved therein have been fully paid to the extent payable as of the Purchase Date, (4) the Mortgagor enjoys quiet and peaceful possession of the leasehold estate, subject to any sublease, (5) the Mortgagor mortgagor is not in default under any of the terms of such ground lease, thereof and there are no circumstances thatwhich, with the passage of time or the giving of notice, notice or both, would result in a constitute an event of default under such ground lease, thereunder; (69) the lessor under such ground the lease is not in default under any of the terms or provisions of such ground lease thereof on the part of the lessor to be observed or performed, (7) the lessor under such ground lease has satisfied any repair or construction obligations due as of the Purchase Date pursuant to the terms of such ground lease, (8) the execution, delivery and performance of the Mortgage do not require the consent (other than those consents which have been obtained and are in full force and effect) under, and will not contravene any provision of or cause a default under, such ground lease, (9) the ground lease term extends, or is automatically renewable, for at least five years after the maturity date of the Note; (10) the Buyer lease or a memorandum thereof has been recorded and by its terms permits the right leasehold estate to cure defaults on the ground lease be mortgaged; and (11) such Mortgage Loan conforms to the Xxxxxx Mae Selling Guide in connection ground lease meets the guidelines of the applicable Agency, FHA, VA, RHS or HUD, as applicableleases.

Leaseholds. With respect to any ground lease to which a Mortgaged Property is subject, (1) a true, correct and complete copy of the ground lease and all amendments, modifications and supplements thereto is included in the servicing file, and the Mortgagor is the owner of a valid and subsisting leasehold interest under such ground lease; (2) such ground lease is in full force and effect, unmodified and not supplemented by any writing or otherwise except as contained in the Mortgage File, (3) all rent, additional rent and other charges reserved therein have been fully paid to the extent payable as of the Purchase Date, (4) the Mortgagor enjoys quiet and peaceful possession of the leasehold estate, subject to any sublease, (5) the Mortgagor is not in default under any of the terms of such ground lease, and there are no circumstances that, with the passage of time or the giving of notice, or both, would result in a default under such ground lease, (6) the lessor under such ground lease is not in default under any of the terms or provisions of such ground lease on the part of the lessor to be observed or performed, (7) the lessor under such ground lease has satisfied any repair or construction obligations due as of the Purchase Date pursuant to the terms of such ground lease, (8) the execution, delivery and performance of the Mortgage do not require the consent (other than those consents which have been obtained and are in full force and effect) under, and will not contravene any provision of or cause a default under, such ground lease, (9) the ground lease term extends, or is automatically renewable, for at least five years after the maturity date of the Note; (10) the Buyer has the right to cure defaults on the ground lease and (11) the ground lease meets the guidelines of the applicable Agency, FHA, VA, RHS VA or HUD, as applicable.

Leaseholds. With respect to any ground lease to which a Mortgaged Property is subject, (1) a true, correct and complete copy of the ground lease and all amendments, modifications and supplements thereto is included in the servicing fileServicing File, and the Mortgagor is the owner of a valid and subsisting leasehold interest under such ground lease; (2) such ground lease is in full force and effect, unmodified and not supplemented by any writing or otherwise except as contained in the Mortgage File, (3) all rent, additional rent and other charges reserved therein have been fully paid to the extent payable as of the Purchase Date, (4) the Mortgagor enjoys quiet and peaceful possession of the leasehold estate, subject to any sublease, (5) the Mortgagor is not in default under any of the terms of such ground lease, and there are no circumstances that, with the passage of time or the giving of notice, or both, would result in a default under such ground lease, (6) the lessor under such ground lease is not in default under any of the terms or provisions of such ground lease on the part of the lessor to be observed or performed, (7) the lessor under such ground lease has satisfied any repair or construction obligations due as of the Purchase Date pursuant to the terms of such ground lease, (8) the execution, delivery and performance of the Mortgage do not require the consent (other than those consents which have been obtained and are in full force and effect) under, and will not contravene any provision of or cause a default under, such ground lease, (9) the ground lease term extends, or is automatically renewable, for at least five years after the maturity date of the Note; (10) the Buyer has the right to cure defaults on the ground lease and (11) the ground lease meets the guidelines of the applicable Agency, FHA, VA, RHS or HUD, as applicable.

Leaseholds. Except with respect to Mortgage Loans secured by property located in the state of Hawaii, none of the Mortgage Loans are secured by mortgaged properties that are located on leaseholds. With respect to any ground lease to which a Mortgaged Property is subject, each Mortgage Loan secured by property located on leaseholds: (1) the lessor under the lease holds a true, correct and complete copy of the ground lease and all amendments, modifications and supplements thereto is included fee simple interest in the servicing file, and the Mortgagor is the owner of a valid and subsisting leasehold interest under such ground leaseland; (2) the terms of such ground lease expressly permit the mortgaging of the leasehold estate, the assignment of the lease without the lessor’s consent and the acquisition by the holder of the Mortgage of the rights of the lessee upon foreclosure or assignment in lieu of foreclosure or provide the holder of the Mortgage with substantially similar protections; (3) the terms of such lease do not (a) allow the termination thereof upon the lessee’s default without the holder of the Mortgage being entitled to receive written notice of, and opportunity to cure, such default, (b) allow the termination of the lease in the event of damage or destruction as long as the Mortgage is in existence, (c) prohibit the holder of the Mortgage from being insured (or receiving proceeds of insurance) under the hazard insurance policy or policies relating to the Mortgaged Property or (d) permit any increase in rent other than pre-established increases set forth in the lease; (4) the original term of such lease is not less than 15 years; (5) the term of such lease does not terminate earlier than ten years after the maturity date of the Mortgage Note; (6) the Mortgaged Property is located in a jurisdiction in which the use of leasehold estates in transferring ownership in residential properties is a widely accepted practice; (7) the lease is in full force and effect, unmodified and not supplemented by any writing or otherwise except as contained in otherwise; (8) the Mortgage File, (3) all rent, additional rent and other charges reserved therein have been fully paid to the extent payable as of the Purchase Date, (4) the Mortgagor enjoys quiet and peaceful possession of the leasehold estate, subject to any sublease, (5) the Mortgagor mortgagor is not in default under any of the terms of such ground lease, thereof and there are no circumstances thatwhich, with the passage of time or the giving of notice, notice or both, would result in a constitute an event of default under such ground lease, thereunder; (69) the lessor under such ground the lease is not in default under any of the terms or provisions of such ground lease thereof on the part of the lessor to be observed or performed, (7) the lessor under such ground lease has satisfied any repair or construction obligations due as of the Purchase Date pursuant to the terms of such ground lease, (8) the execution, delivery and performance of the Mortgage do not require the consent (other than those consents which have been obtained and are in full force and effect) under, and will not contravene any provision of or cause a default under, such ground lease, (9) the ground lease term extends, or is automatically renewable, for at least five years after the maturity date of the Note; (10) the Buyer lease or a memorandum thereof has been recorded and by its terms permits the right leasehold estate to cure defaults on the ground lease be mortgaged; and (11) such Mortgage Loan conforms to the Fxxxxx Mae Selling Guide in connection ground lease meets the guidelines of the applicable Agency, FHA, VA, RHS or HUD, as applicable.leases;

Leaseholds. With respect to any ground lease to which a Mortgaged Property is subject, (1) a true, correct and complete copy of the ground lease and all amendments, modifications and supplements thereto is included in the servicing file, and the Mortgagor is the owner of a valid and subsisting leasehold interest under such ground lease; (2) such ground lease is in full force and effect, unmodified and not supplemented by any writing Sch. 1-12 LEGAL02/43731153v4 or otherwise except as contained in the Mortgage File, (3) all rent, additional rent and other charges reserved therein have been fully paid to the extent payable as of the Purchase Date, (4) the Mortgagor enjoys quiet and peaceful possession of the leasehold estate, subject to any sublease, (5) the Mortgagor is not in default under any of the terms of such ground lease, and there are no circumstances that, with the passage of time or the giving of notice, or both, would result in a default under such ground lease, (6) the lessor under such ground lease is not in default under any of the terms or provisions of such ground lease on the part of the lessor to be observed or performed, (7) the lessor under such ground lease has satisfied any repair or construction obligations due as of the Purchase Date pursuant to the terms of such ground lease, (8) the execution, delivery and performance of the Mortgage do not require the consent (other than those consents which have been obtained and are in full force and effect) under, and will not contravene any provision of or cause a default under, such ground lease, (9) the ground lease term extends, or is automatically renewable, for at least five years after the maturity date of the Mortgage Note; (10) the Buyer has the right to cure defaults on the ground lease and (11) the ground lease meets the guidelines of the applicable Applicable Agency, FHA, VA, RHS VA or HUD, as applicable.

Leaseholds. With respect to any ground lease to which a Mortgaged Property is subject, (1) a true, correct and complete copy of the ground lease and all amendments, modifications and supplements thereto is included in the servicing fileServicing File, and the Mortgagor is the owner of a valid and subsisting leasehold interest under such ground lease; (2) such ground lease is in full force and effect, unmodified and not supplemented by any writing or otherwise except as contained in the Mortgage File, (3) all rent, additional rent and other charges reserved therein have been fully paid to the extent payable as of the Purchase Date, (4) the Mortgagor enjoys quiet and peaceful possession of the leasehold estate, subject to any sublease, (5) the Mortgagor is not in default under any of the terms of such ground lease, and there are no circumstances that, with the passage of time or the giving of notice, or both, would result in a default under such ground lease, (6) the lessor under such ground lease is not in default under any of the terms or provisions of such ground lease on the part of the lessor to be observed or performed, (7) the lessor under such ground lease has satisfied any repair or construction obligations due as of the Purchase Date pursuant to the terms of such ground lease, (8) the execution, delivery and performance of the Mortgage do not require the consent (other than those consents which have been obtained and are in full force and effect) under, and will not contravene any provision of or cause a default under, such ground lease, (9) the ground lease term extends, or is automatically renewable, for at least five years after the maturity date of the Note; (10) the Buyer has the right to cure defaults on the ground lease and (11) the ground lease meets the guidelines of the applicable Agency, FHA, VA, RHS or HUD, as applicable.

Leaseholds. With respect to any ground lease to which If the Mortgage Loan is secured by a Mortgaged Property is subject, leasehold estate: (1A) a true, correct and complete copy of the ground lease and all amendments, modifications and supplements thereto is included in the servicing file, and the Mortgagor is the owner of a valid and subsisting leasehold interest under such ground lease; (2B) such ground lease is in full force and effect, unmodified and not supplemented by any writing or otherwise except as contained in the Mortgage File, otherwise; (3C) all rent, additional rent and other charges reserved therein have been fully paid to the extent payable as of the Purchase related Closing Date, ; (4D) the Mortgagor enjoys the quiet and peaceful possession of the leasehold estate, subject to any sublease, ; (5E) the Mortgagor is not in default under any of the terms of such ground lease, and there are no circumstances thatwhich, with the passage of time or the giving of notice, or both, would result in a default under such ground lease, ; (6F) the lessor under such ground lease is not in default under any of the terms or provisions of such ground lease on the part of the lessor to be observed or performed, ; (7G) the lessor under such ground lease has satisfied any repair or construction obligations due as of the Purchase related Closing Date pursuant to the terms of such ground lease, ; (8) H) the execution, delivery and performance of the Mortgage do not require the consent (other than those consents which have been obtained and are in full force and effect) under, and will not contravene any provision of or cause a default under, such ground lease, ; (9I) the ground term of such lease term extends, or is automatically renewable, for at least does not terminate earlier than five (5) years after the maturity date of the Mortgage Note; (10) the Buyer has the right to cure defaults on the ground lease and (11J) the ground lease meets is assignable or transferable; (K) the guidelines ground lease does not provide for termination of the applicable Agencylease in the event of lessee’s default without the mortgagee being entitled to receive written notice of, FHA, VA, RHS or HUD, as applicableand a reasonable opportunity to cure the default; (L) the ground lease permits the mortgaging of the related Mortgaged Property; (M) the ground lease protects the mortgagee’s interests in the event of a property condemnation; and (N) the use of leasehold estates for residential properties is a widely accepted practice in the jurisdiction in which the Mortgaged Property is located.

Leaseholds. With respect to any ground lease to which If a Mortgaged Property Mortgage Loan is subjectsecured by a leasehold estate, then (1A) a true, correct and complete copy of the ground lease and all amendments, modifications and supplements thereto is included in the servicing file, and the Mortgagor is the owner of a valid and subsisting leasehold interest under such ground lease; (2B) such ground lease is in full force and effect, unmodified and not supplemented by any writing or otherwise except as contained in the Mortgage File, otherwise; (3C) all rent, additional rent and other charges reserved therein have been fully paid to the extent payable as of the Purchase related Closing Date, ; (4D) the Mortgagor enjoys the quiet and peaceful possession of the leasehold estate, subject to any sublease, ; (5E) the Mortgagor is not in default under any of the terms of such ground lease, and there are no circumstances thatwhich, with the passage of time or the giving of notice, or both, would result in a default under such ground lease, ; (6F) the lessor under such ground lease is not in default under any of the terms or provisions of such ground lease on the part of the lessor to be observed or performed, ; (7G) the lessor under such ground lease has satisfied any repair or construction obligations due as of the Purchase related Closing Date pursuant to the terms of such ground lease, ; (8) H) the execution, delivery and performance of the Mortgage do not require the consent (other than those consents which have been obtained and are in full force and effect) under, and will not contravene any provision of or cause a default under, such ground lease, ; (9I) the ground term of such lease term extends, or is automatically renewable, for at least does not terminate earlier than five (5) years after the maturity date of the Mortgage Note; (10) the Buyer has the right to cure defaults on the ground lease and (11J) the ground lease meets is assignable or transferable; (K) the guidelines ground lease does not provide for termination of the applicable Agencylease in the event of lessee’s default without the mortgagee being entitled to receive written notice of, FHA, VA, RHS or HUD, as applicable.and a reasonable opportunity to cure the default; (L) the ground lease permits the mortgaging of the related Mortgaged Property; (M) the ground lease protects the mortgagee’s interests in the event of a property condemnation; and (N) the use of leasehold estates for residential properties is a widely accepted practice in the jurisdiction in which the Mortgaged Property is located;

Leaseholds. Except with respect to Mortgage Loans secured by property located in the state of Hawaii, none of the Mortgage Loans are secured by mortgaged properties that are located on leaseholds. With respect to any ground lease to which a Mortgaged Property is subject, each Mortgage Loan secured by property located on leaseholds: (1) the lessor under the lease holds a true, correct and complete copy of the ground lease and all amendments, modifications and supplements thereto is included fee simple interest in the servicing file, and the Mortgagor is the owner of a valid and subsisting leasehold interest under such ground leaseland; (2) the terms of such ground lease expressly permit the mortgaging of the leasehold estate, the assignment of the lease without the lessor’s consent and the acquisition by the holder of the Mortgage of the rights of the lessee upon foreclosure or assignment in lieu of foreclosure or provide the holder of the Mortgage with substantially similar protections; (3) the terms of such lease do not (a) allow the termination thereof upon the lessee’s default without the holder of the Mortgage being entitled to receive written notice of, and opportunity to cure, such default, (b) allow the termination of the lease in the event of damage or destruction as long as the Mortgage is in existence, (c) prohibit the holder of the Mortgage from being insured (or receiving proceeds of insurance) under the hazard insurance policy or policies relating to the Mortgaged Property or (d) permit any increase in rent other than pre-established increases set forth in the lease; (4) the original term of such lease is not less than 15 years; (5) the term of such lease does not terminate earlier than ten years after the maturity date of the Mortgage Note; (6) the Mortgaged Property is located in a jurisdiction in which the use of leasehold estates in transferring ownership in residential properties is a widely accepted practice; (7) the lease is in full force and effect, unmodified and not supplemented by any writing or otherwise except as contained in otherwise; (8) the Mortgage File, (3) all rent, additional rent and other charges reserved therein have been fully paid to the extent payable as of the Purchase Date, (4) the Mortgagor enjoys quiet and peaceful possession of the leasehold estate, subject to any sublease, (5) the Mortgagor mortgagor is not in default under any of the terms of such ground lease, thereof and there are no circumstances thatwhich, with the passage of time or the giving of notice, notice or both, would result in a constitute an event of default under such ground lease, thereunder; (69) the lessor under such ground the lease is not in default under any of the terms or provisions of such ground lease thereof on the part of the lessor to be observed or performed, (7) the lessor under such ground lease has satisfied any repair or construction obligations due as of the Purchase Date pursuant to the terms of such ground lease, (8) the execution, delivery and performance of the Mortgage do not require the consent (other than those consents which have been obtained and are in full force and effect) under, and will not contravene any provision of or cause a default under, such ground lease, (9) the ground lease term extends, or is automatically renewable, for at least five years after the maturity date of the Note; (10) the Buyer lease or a memorandum thereof has been recorded and by its terms permits the right leasehold estate to cure defaults on the ground lease be mortgaged; and (11) such Mortgage Loan conforms to the Xxxxxx Mae Selling Guide in connection ground lease meets the guidelines of the applicable Agency, FHA, VA, RHS or HUD, as applicable.leases;

Leaseholds. With respect to any ground lease to which a Mortgaged Property is subject, (1) a true, correct and complete copy of the ground lease and all amendments, modifications and supplements thereto is included in the servicing file, and the Mortgagor is the owner of a valid and subsisting leasehold interest under such ground lease; (2) such ground lease is in full force and effect, unmodified and not supplemented by any writing or otherwise except as contained in the Mortgage File, (3) all rent, additional rent and other charges reserved therein have been fully paid to the extent payable as of the Purchase Date, (4) the Mortgagor enjoys quiet and peaceful possession of the leasehold estate, subject to any sublease, (5) the Mortgagor is not in default under any of the terms of such ground lease, LEGAL02/40118759v8 and there are no circumstances that, with the passage of time or the giving of notice, or both, would result in a default under such ground lease, (6) the lessor under such ground lease is not in default under any of the terms or provisions of such ground lease on the part of the lessor to be observed or performed, (7) the lessor under such ground lease has satisfied any repair or construction obligations due as of the Purchase Date pursuant to the terms of such ground lease, (8) the execution, delivery and performance of the Mortgage do not require the consent (other than those consents which have been obtained and are in full force and effect) under, and will not contravene any provision of or cause a default under, such ground lease, (9) the ground lease term extends, or is automatically renewable, for at least five years after the maturity date of the Note; (10) the Buyer has the right to cure defaults on the ground lease and (11) the ground lease meets the guidelines of the applicable Agency, FHA, VA, RHS or HUD, as applicable.

Leaseholds. With respect to any ground lease to which a Mortgaged Property is subject, (1) a true, correct and complete copy of the ground lease and all amendments, modifications and supplements thereto is included in the servicing file, and the Mortgagor is the owner of a valid and subsisting leasehold interest under such ground lease; (2) such ground lease is in full force and effect, unmodified and not supplemented by any writing or otherwise except as contained in the Mortgage File, (3) all rent, additional rent and other charges reserved therein have been fully paid to the extent payable as of the Purchase Date, (4) the Mortgagor enjoys quiet and peaceful possession of the leasehold estate, subject to any sublease, (5) the Mortgagor is not in default under any of the terms of such ground lease, and there are no circumstances that, with the passage of time or the giving of notice, or both, would result in a default under such ground lease, (6) the lessor under such ground lease is not in default under any of the terms or provisions of such ground lease on the part of the lessor to be observed or performed, (7) the lessor under such ground lease has satisfied any repair or construction obligations due as of the Purchase Date pursuant to the terms of such ground lease, (8) the execution, delivery and performance of the Mortgage do not require the consent (other than those consents which have been obtained and are in full force and effect) under, and will not contravene any provision of or cause a default under, such ground lease, (9) the ground lease term extends, or is automatically renewable, for at least five years after the maturity date of the Note; (10) the Buyer has the right to cure defaults on the ground lease and (11) the ground lease meets the guidelines of the applicable Agency, FHA, VA, RHS or HUD, as applicable.