Common use of Mortgaged Property Undamaged; No Condemnation Proceedings Clause in Contracts

Mortgaged Property Undamaged; No Condemnation Proceedings. As of the Servicing Transfer Date, there is no proceeding pending or threatened for the total or partial condemnation of the Mortgaged Property. The Mortgaged Property is undamaged by waste, fire, earthquake or earth movement, windstorm, flood, tornado or other casualty so as to affect adversely the value of the Mortgaged Property as security for the Mortgage Loan or the use for which the premises were intended and each Mortgaged Property is in good repair. Since the origination of the Mortgage Loan, there have not been any condemnation proceedings with respect to the Mortgaged Property;

Appears in 10 contracts

Samples: Assignment and Recognition Agreement (Morgan Stanley IXIS Real Estate Capital Trust 2006-1), Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Home Equity Loan Trust 2005-4), Assignment and Recognition Agreement (Morgan Stanley Home Equity Loan Trust 2006-3)

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Mortgaged Property Undamaged; No Condemnation Proceedings. As of the related Servicing Transfer Date, there is no proceeding pending or threatened for the total or partial condemnation of the Mortgaged Property. The Mortgaged Property is undamaged by waste, fire, earthquake or earth movement, windstorm, flood, tornado or other casualty so as to affect adversely the value of the Mortgaged Property as security for the Mortgage Loan or the use for which the premises were intended and each Mortgaged Property is in good repair. Since the origination of the Mortgage Loan, there have not been any condemnation proceedings with respect to the Mortgaged Property;

Appears in 9 contracts

Samples: Assignment and Recognition Agreement (Morgan Stanley Home Equity Loan Trust 2006-2), Assignment and Recognition Agreement (Morgan Stanley Home Equity Loan Trust 2006-3), Assignment and Recognition Agreement (Morgan Stanley Home Equity Loan Trust 2006-1)

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