Common use of Mortgaged Property Undamaged Clause in Contracts

Mortgaged Property Undamaged. At origination, there was no proceeding pending or threatened for the total or partial condemnation of the Mortgaged Property or the Cooperative Project, as applicable. The Mortgaged Property or the Cooperative Project, as applicable, 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 or the Cooperative Project, as applicable, as security for the Mortgage Loan or the use for which the premises were intended;