Common use of Mortgage in Good Standing Clause in Contracts

Mortgage in Good Standing. There is no default (or event or occurrence which, with notice or lapse of time or both, if uncured, would constitute a default) under the Mortgage, and all of the following that have become due and payable have been paid: (1) taxes; (2) governmental and other assessments; (3) insurance premiums; (4) water, sewer and municipal charges; (5) leasehold payments; and (6) ground rents.

Mortgage in Good Standing. There is no default (or event or occurrence which, with notice or lapse of time or both, if uncured, would constitute a default) under the Mortgage, and all of the following that have become due and payable have been paidpaid or an escrow of funds sufficient to pay them has been established and funded and is held by the Originator: (1) taxes; (2) governmental and other assessments; (3) insurance premiums; (4) water, sewer and municipal charges; (5) leasehold payments; and (6) ground rents.