Common use of Covenant of Title Clause in Contracts

Covenant of Title. Mortgagor is the owner of fee simple title to the Mortgaged Property, subject to no lien, charge or encumbrance except for Permitted Liens (as defined in the Indenture) and as listed on SCHEDULE B attached hereto and made a part hereof (the "PERMITTED EXCEPTIONS"); and this Mortgage is and shall remain a valid first mortgage lien on the Mortgaged Property subject only to the Permitted Exceptions. Mortgagor has full corporate power and lawful authority to mortgage the Mortgaged Property in the manner and form herein done, and to perform all of its obligations hereunder. Mortgagor shall preserve such title, and shall forever defend such title and the validity and priority of the lien hereof against the claims of all persons and parties except as aforesaid.