Common use of Mortgaged Property Undamaged Clause in Contracts

Mortgaged Property Undamaged. The Mortgaged Property (and with respect to any Cooperative Loan, the Cooperative Unit) 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. There have not been any condemnation proceedings with respect to the Mortgaged Property and the Borrower has no knowledge of any such proceedings.

Appears in 10 contracts

Samples: Master Loan and Security Agreement (Aames Investment Corp), Loan and Security Agreement (Aames Financial Corp/De), Loan and Security Agreement (Aames Financial Corp/De)

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Mortgaged Property Undamaged. The Mortgaged Property (and with respect to any Cooperative Loan, the Cooperative Unit) 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. There have not been any condemnation proceedings with respect to the Mortgaged Property and the Borrower Seller has no knowledge of any such proceedings.

Appears in 3 contracts

Samples: Master Repurchase Agreement (New York Mortgage Trust Inc), Master Repurchase Agreement (Aames Investment Corp), Master Repurchase Agreement (American Home Mortgage Investment Corp)

Mortgaged Property Undamaged. The Mortgaged Property (and with respect to any Cooperative Loan, the Cooperative Unit) 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. There have not been any condemnation proceedings with respect to the Mortgaged Property and the Borrower Seller has no knowledge of any such proceedings.

Appears in 3 contracts

Samples: Master Repurchase Agreement (Tree.com, Inc.), Master Repurchase Agreement (Sirva Inc), Master Repurchase Agreement (Tree.com, Inc.)

Mortgaged Property Undamaged. The Mortgaged Property (and with respect to any Cooperative Loan, the Cooperative Unit) is undamaged by waste, fire, earthquake or earth movement, windstorm, flood, tornado or other casualty so as to materially and adversely 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. There have not been any condemnation proceedings with respect to the Mortgaged Property and the Borrower Seller has no knowledge of any such proceedings.

Appears in 1 contract

Samples: Master Repurchase Agreement (Caliber Home Loans, Inc.)

Mortgaged Property Undamaged. The Mortgaged Property (and with respect to any or Cooperative Loan, the Cooperative Unit) Unit 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 or Cooperative Unit as security for the Mortgage Loan or the use for which the premises were intended and each Mortgaged Property is in good repair. There have not been any condemnation proceedings with respect to the Mortgaged Property and the no Borrower has no knowledge of any such proceedings.

Appears in 1 contract

Samples: Master Loan and Security Agreement (American Home Mortgage Holdings Inc)

Mortgaged Property Undamaged. The Mortgaged Property (and with respect to any Cooperative Loan, the Cooperative Unit) is undamaged by waste, fire, earthquake or earth movement, windstorm, flood, tornado or other casualty so as to materially 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 repairintended. There have not been Seller has no knowledge of any condemnation proceedings with respect to the Mortgaged Property and during the Borrower period the Mortgaged Property has no knowledge of been serviced by Servicer, there have not been any such proceedings.

Appears in 1 contract

Samples: Master Repurchase Agreement (PennyMac Mortgage Investment Trust)

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Mortgaged Property Undamaged. The Mortgaged Property (and with respect to any Cooperative Loan, the Cooperative Unit) 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. There have not been any condemnation proceedings with respect to the Mortgaged Property and the Borrower Seller has no knowledge of any such proceedings.

Appears in 1 contract

Samples: Master Repurchase Agreement (PHH Corp)

Mortgaged Property Undamaged. The Mortgaged Property (and with respect to any or Cooperative Loan, the Cooperative Unit) Unit is undamaged by waste, fire, earthquake or earth movement, windstorm, flood, tornado or other casualty so as to adversely affect adversely the value of the Mortgaged Property or Cooperative Unit as security for the Mortgage Loan or the use for which the premises were intended and each Mortgaged Property is in good repair. There have not been any condemnation proceedings with respect to the Mortgaged Property and the Borrower no Seller has no knowledge of any such proceedings.

Appears in 1 contract

Samples: Master Repurchase Agreement (American Home Mortgage Investment Corp)

Mortgaged Property Undamaged. The Mortgaged Property (and with respect to any Cooperative Loan, the or Cooperative Unit) , 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 or Cooperative Unit, as applicable, as security for the Mortgage Loan or the use for which the premises were intended and each Mortgaged Property is in good repair. There have not been any condemnation proceedings with respect to the Mortgaged Property and the Borrower has no knowledge of any such proceedings.

Appears in 1 contract

Samples: Master Loan and Security Agreement (Long Beach Financial Corp)

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