Warranties of Title and Authority. Grantor hereby represents and warrants that it is lawfully seized of an indefeasible fee title to the Trust Estate; that it has the authority and right to execute and deliver this Deed of Trust; that it shall defend the title to the Trust Estate against all claims and demands whatsoever; that the Trust Estate is free and clear of any and all liens, claims, encumbrances, restrictions, encroachments, and interest whatsoever in favor of any third party except as may be described in Exhibit "B" attached hereto, Beneficiary's title insurance policy, or as approved by Beneficiary in writing; that the Trust Estate is in compliance with and does not violate any applicable local, state, federal or other law, statute, rule or ordinance; and that any and all obligations it may have incurred in connection with the Property are current and without default. In the event any Grantor hereunder is a partnership, limited liability company or a corporation, each person executing this instrument on behalf of such entity individually and personally represents and warrants that this Deed of Trust and each other instrument signed in the name of such entity and delivered to evidence or further secure the obligations secured hereby is, in all respects, binding upon such entity as an act and obligation of said partnership, limited liability company or corporation.
