Common use of Condition of Property; Condemnation Clause in Contracts

Condition of Property; Condemnation. Except as set forth in an engineering report prepared in connection with the origination of the related Purchased Loan and dated not more than 12 months prior to the Purchase Date, each Property is, to Seller's knowledge, free and clear of any damage that would materially and adversely affect its value as security for the related Purchased Loan (normal wear and tear excepted). Seller has received no notice, and has no knowledge, of any pending or threatened proceeding for the condemnation of all or any material portion of any Property. To Seller's knowledge, as of the date of the origination of each Purchased Loan (based on surveys and/or title insurance obtained in connection with the origination of the Purchased Loans) (a) all of the improvements on the related Property which were considered material in determining the appraised value of the Property lay wholly within the boundaries and building restriction lines of such property, except for encroachments that are insured against by the Title Policy referred to in paragraph 8 herein or that do not materially and adversely affect the value, principal use, or marketability of such Property, and (b) no improvements on adjoining properties encroached upon such Property so as to materially and adversely affect the value, principal use, or marketability of such Property, except those encroachments that are insured against by the Title Policy referred to in paragraph 8 herein.

Condition of Property; Condemnation. Except as set forth in an engineering report prepared in connection with the origination of the related Purchased Loan and dated not more than 12 months prior to the Purchase Date, each Property is, to Seller's ’s knowledge, free and clear of any damage that would materially and adversely affect its value as security for the related Purchased Loan (normal wear and tear excepted). Seller has received no notice, and has no knowledge, of any pending or threatened proceeding for the condemnation of all or any material portion of any Property. To Seller's ’s knowledge, as of the date of the origination of each Purchased Loan (based on surveys and/or title insurance obtained in connection with the origination of the Purchased Loans) (a) all of the improvements on the related Property which were considered material in determining the appraised value of the Property lay wholly within the boundaries and building restriction lines of such property, except for encroachments that are insured against by the Title Policy referred to in paragraph 8 herein or that do not materially and adversely affect the value, principal use, or marketability of such Property, and (b) no improvements on adjoining properties encroached upon such Property so as to materially and adversely affect the value, principal use, or marketability of such Property, except those encroachments that are insured against by the Title Policy referred to in paragraph 8 herein.

Condition of Property; Condemnation. Except as set forth in an engineering report prepared in connection with the origination of the related Purchased Loan Asset and dated not more than 12 months prior to the Purchase Date, each Property is, to Seller's knowledge, free and clear of any damage that would materially and adversely affect its value as security for the related Purchased Loan Asset (normal wear and tear excepted). Seller has received There is no notice, and has no knowledge, of any pending or threatened proceeding for the condemnation of all or any material portion of any Property. To Seller's knowledge, as As of the date of the origination of each Purchased Loan Underlying Asset (based on surveys and/or title insurance obtained in connection with the origination of the Purchased LoansUnderlying Assets) (a) all of the improvements on the related Property which were considered material in determining the appraised value of the Property lay wholly within the boundaries and building restriction lines of such property, except for encroachments that are insured against by the Title Policy referred to in paragraph 8 herein or that do not materially and adversely affect the value, principal use, or marketability of such Property, and (b) no improvements on adjoining properties encroached upon such Property so as to materially and adversely affect the value, principal use, or marketability of such Property, except those encroachments that are insured against by the Title Policy referred to in paragraph 8 herein.

Condition of Property; Condemnation. Except as set forth in an engineering report prepared in connection with the origination of the related Purchased Loan Asset and dated not more than 12 months prior to the Purchase Date, each Property is, to Seller's knowledge, is free and clear of any damage that would materially and adversely affect its value as security for the related Purchased Loan Asset (normal wear and tear excepted). Seller has received no notice, and has no knowledge, of any pending or threatened proceeding for the condemnation of all or any material portion of any Property. To Seller's knowledge, as As of the date of the origination of each Purchased Loan Underlying Asset (based on surveys and/or title insurance obtained in connection with the origination of the Purchased LoansUnderlying Assets) (a) all of the improvements on the related Property which were considered material in determining the appraised value of the Property lay wholly within the boundaries and building restriction lines of such property, except for encroachments that are insured against by the Title Policy referred to in paragraph 8 herein or that do not materially and adversely affect the value, principal use, or marketability of such Property, and (b) no improvements on adjoining properties encroached upon such Property so as to materially and adversely affect the value, principal use, or marketability of such Property, except those encroachments that are insured against by the Title Policy referred to in paragraph 8 herein.