No Additional Collateral. The related Mortgage Note is not and has not been secured by any collateral except the lien of the corresponding Mortgage(s) and the security interest of any applicable security agreement and chattel mortgage or other collateral specified in the related Loan Documents. There are no subordinate mortgages or junior liens securing the payment of money encumbering any related Mortgaged Property (other than Permitted Encumbrances, taxes and assessments, homeowner association dues and fees, mechanics and materialmen’s liens (which are the subject of the representation in paragraph (v) above), and equipment and other personal property financing). Seller has no knowledge of any mezzanine debt secured directly by interests in the related Mortgagor. No mezzanine debt is secured directly by interests in the related Mortgagor.
Appears in 2 contracts
Sources: Master Repurchase Agreement (Angel Oak Mortgage, Inc.), Master Repurchase Agreement (Angel Oak Mortgage, Inc.)