Common use of Mortgaged Property Undamaged Clause in Contracts

Mortgaged Property Undamaged. 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. 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 2 contracts

Sources: Loan Agreement (Southern Pacific Funding Corp), Loan Agreement (Southern Pacific Funding Corp)

Mortgaged Property Undamaged. The To the best of the Borrower's knowledge, 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. 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 2 contracts

Sources: Master Loan and Security Agreement (Advanta Corp), Master Loan and Security Agreement (Advanta Corp)

Mortgaged Property Undamaged. 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. 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

Sources: Master Loan and Security Agreement (American Business Financial Services Inc /De/)

Mortgaged Property Undamaged. The Mortgaged Property is undamaged by waste, fire, earthquake or earth movement, windstorm, flood, tornado or other casualty so as to affect materially and 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 Seller has no knowledge of any such proceedings.

Appears in 1 contract

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

Mortgaged Property Undamaged. The To the best of Seller’s knowledge, the Mortgaged Property is undamaged by waste, fire, earthquake or earth movement, windstorm, flood, tornado or other casualty so as to affect materially and 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

Sources: Master Repurchase Agreement (PennyMac Mortgage Investment Trust)

Mortgaged Property Undamaged. The To the best of the Loan Originator's knowledge, 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. There have not been any condemnation proceedings with respect to the Mortgaged Property and the Borrower no Loan Originator has no knowledge of any such proceedings.

Appears in 1 contract

Sources: Sale and Servicing Agreement (Advanta Corp)

Mortgaged Property Undamaged. The Mortgaged Property is was undamaged by waste, fire, earthquake or earth movement, windstorm, flood, hurricane, 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 repairLoan. 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

Sources: Master Servicing and Trust Agreement (GSAA Home Equity Trust 2006-15)

Mortgaged Property Undamaged. 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 repairintended. 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

Sources: Master Loan and Security Agreement (Source One Mortgage Services Corp)

Mortgaged Property Undamaged. 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 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

Sources: Funding Agreement (Fieldstone Investment Corp)

Mortgaged Property Undamaged. The To Seller’s knowledge, the Mortgaged Property 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

Sources: Master Repurchase Agreement (Centex Land Vista Ridge Lewisville III General Partner, LLC)

Mortgaged Property Undamaged. 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. 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

Sources: Master Repurchase Agreement (Contifinancial Corp)

Mortgaged Property Undamaged. 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. There have not been any condemnation proceedings with respect to the Mortgaged Property and the Borrower no Seller has no any knowledge of any such proceedings.

Appears in 1 contract

Sources: Master Repurchase Agreement (Aames Investment Corp)

Mortgaged Property Undamaged. The To the best of the Seller's knowledge, 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. 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

Sources: Master Repurchase Agreement (Advanta Corp)