Common use of Ownership of Property; Insurance Coverage Clause in Contracts

Ownership of Property; Insurance Coverage. 4.9.1. SBBX and each SBBX Subsidiary has good and, as to real property, marketable title to all material assets and properties owned by SBBX or any SBBX Subsidiary in the conduct of its businesses, whether such assets and properties are real or personal, tangible or intangible, including assets and property reflected in the balance sheets contained in the SBBX Regulatory Reports and in the SBBX Financial Statements or acquired subsequent thereto (except to the extent that such assets and properties have been disposed of in the ordinary course of business, since the date of such balance sheets), subject to no material encumbrances, liens, mortgages, security interests or pledges, except (i) those items which secure liabilities for public or statutory obligations or any discount with, borrowing from or other obligations to FHLB, inter-bank credit facilities, or any transaction by SBBX acting in a fiduciary capacity, (ii) statutory liens for amounts not yet delinquent or which are being contested in good faith, (iii) non-monetary liens affecting real property which do not adversely affect the value or use of such real property, and (iv) those described and reflected in the SBBX Financial Statements. SBBX and each SBBX Subsidiary, as lessee, has the right under valid and existing leases of real and personal properties used by SBBX or such SBBX Subsidiary in the conduct of their businesses to occupy or use all such properties as presently occupied and used by each of them.

Ownership of Property; Insurance Coverage. 4.9.14.10.1. SBBX HNC and each SBBX HNC Subsidiary has good and, as to real property, marketable title to all material assets and properties owned by SBBX HNC or any SBBX each HNC Subsidiary in the conduct of its businesses, whether such assets and properties are real or personal, tangible or intangible, including assets and property reflected in the balance sheets contained in the SBBX HNC Regulatory Reports and in the SBBX HNC Financial Statements or acquired subsequent thereto (except to the extent that such assets and properties have been disposed of in the ordinary course of business, since the date of such balance sheets), subject to no material encumbrances, liens, mortgages, security interests or pledges, except (i) those items which secure liabilities for public or statutory obligations or any discount with, borrowing from or other obligations to FHLB, inter-bank credit facilities, or any transaction by SBBX an HNC Subsidiary acting in a fiduciary capacity, (ii) statutory liens for amounts not yet delinquent or which are being contested in good faith, (iii) non-monetary liens affecting real property which do not adversely affect the value or use of such real property, and (iv) those described and reflected in the SBBX HNC Financial Statements. SBBX HNC and each SBBX Subsidiarythe HNC Subsidiaries, as lessee, has have the right under valid and existing leases of real and personal properties used by SBBX or such SBBX Subsidiary HNC and its Subsidiaries in the conduct of their businesses to occupy or use all such properties as presently occupied and used by each of them.

Ownership of Property; Insurance Coverage. 4.9.1. SBBX (a) VIST and each SBBX VIST Subsidiary has good and, as to real property, marketable title Title to all material assets and properties owned by SBBX VIST or any SBBX each VIST Subsidiary in the conduct of its businesses, whether such assets and properties are real or personal, tangible or intangible, including assets and property reflected in the balance sheets contained in the SBBX VIST Regulatory Reports and in the SBBX VIST Financial Statements or acquired subsequent thereto (except to the extent that such assets and properties have been disposed of in the ordinary course of business, since the date of such balance sheets), subject to no material encumbrances, liens, mortgages, security interests or pledges, except (i) those items which secure liabilities for public or statutory obligations or any discount with, borrowing from or other obligations to FHLB, inter-bank credit facilities, or any transaction by SBBX an VIST Subsidiary acting in a fiduciary capacity, (ii) statutory liens for amounts not yet delinquent or which are being contested in good faith, (iii) non-monetary liens affecting real property which do not adversely affect the value or use of such real property, and (iv) those described and reflected in the SBBX VIST Financial Statements. SBBX VIST and each SBBX Subsidiarythe VIST Subsidiaries, as lessee, has have the right under valid and existing leases of real and personal properties used by SBBX or such SBBX Subsidiary VIST and VIST Subsidiaries in the conduct of their businesses to occupy or use all such properties as presently occupied and used by each of them.

Ownership of Property; Insurance Coverage. 4.9.15.8.1. SBBX PFS and each SBBX PFS Subsidiary has good and, as to real property, marketable title to all material assets and properties owned by SBBX PFS or any SBBX each PFS Subsidiary in the conduct of its their businesses, whether such assets and properties are real or personal, tangible or intangible, including assets and property reflected in the balance sheets contained in the SBBX PFS Regulatory Reports and in the SBBX PFS Financial Statements or acquired subsequent thereto (except to the extent that such assets and properties have been disposed of in the ordinary course of business, since the date of such balance sheets), subject to no material encumbrances, liens, mortgages, security interests or pledges, except (i) those items which secure liabilities for public or statutory obligations or any discount with, borrowing from or other obligations to FHLBFHLB and FRB, inter-bank credit facilities, or any transaction by SBBX a PFS Subsidiary acting in a fiduciary capacity, (ii) statutory liens for amounts not yet delinquent or which are being contested in good faith, (iii) non-monetary liens affecting real property which do not adversely affect the value or use of such real property, and (iv) those described and reflected in the SBBX PFS Financial Statements. SBBX PFS and each SBBX Subsidiarythe PFS Subsidiaries, as lessee, has have the right under valid and existing leases of real and personal properties used by SBBX or such SBBX Subsidiary PFS and its Subsidiaries in the conduct of their businesses to occupy or use all such properties as presently occupied and used by each of them.

Ownership of Property; Insurance Coverage. 4.9.1. SBBX (a) Target and each SBBX Target Subsidiary has good and, as to real property, marketable title to all material assets and properties owned by SBBX Target or any SBBX each Target Subsidiary in the conduct of its businesses, whether such assets and properties are real or personal, tangible or intangible, including assets and property reflected in the balance sheets contained in the SBBX Target Regulatory Reports and in the SBBX Target Financial Statements or acquired subsequent thereto (except to the extent that such assets and properties have been disposed of in the ordinary course of business, since the date of such balance sheets), subject to no material encumbrances, liens, mortgages, security interests or pledges, except (i) those items which secure liabilities for public or statutory obligations including but not limited to, real estate taxes, assessments and other governmental levies, fees or charge or any discount with, borrowing from or other obligations to FHLB, inter-bank credit facilities, or any transaction by SBBX an Target Subsidiary acting in a fiduciary capacity, (ii) statutory liens for amounts not yet delinquent or which are being contested in good faith, (iii) non-monetary liens affecting real property which do not adversely affect the value or use of such real property, (iv) mechanics liens and similar liens for labor, materials, services or supplies provided for such property incurred in the ordinary course of business for amounts not yet delinquent or which are being contested in good faith and (ivv) those described and reflected in the SBBX Target Financial Statements. SBBX Target and each SBBX Subsidiarythe Target Subsidiaries, as lessee, has have the right under valid and existing leases of real and personal properties used by SBBX or such SBBX Subsidiary Target and its Subsidiaries in the conduct of their businesses to occupy or use all such properties as presently occupied and used by each of them.

Ownership of Property; Insurance Coverage. 4.9.1. SBBX (a) Investors Bancorp and each SBBX Investors Bancorp Subsidiary has good and, as to real property, marketable title to all material assets and properties owned by SBBX Investors Bancorp or any SBBX each Investors Bancorp Subsidiary in the conduct of its businesses, whether such assets and properties are real or personal, tangible or intangible, including assets and property reflected in the balance sheets contained in the SBBX Regulatory Reports and in the SBBX Financial Statements Investors Financials or acquired subsequent thereto (except to the extent that such assets and properties have been disposed of in the ordinary course of business, since the date of such balance sheets), subject to no material encumbrances, liens, mortgages, security interests or pledges, except (i) those items which secure liabilities for public or statutory obligations or any discount with, borrowing from or other obligations to FHLB, inter-bank credit facilities, or any transaction by SBBX an Investors Bancorp Subsidiary acting in a fiduciary capacity, (ii) statutory liens for amounts not yet delinquent or which are being contested in good faith, (iii) non-monetary liens affecting real property which do not adversely affect the value or use of such real property, and (iv) those described and reflected in the SBBX Financial StatementsInvestors Financials. SBBX Investors Bancorp and each SBBX Subsidiarythe Investors Bancorp Subsidiaries, as lessee, has have the right under valid and existing leases of real and personal properties used by SBBX or such SBBX Subsidiary Investors Bancorp and its Subsidiaries in the conduct of their businesses to occupy or use all such properties as presently occupied and used by each of them.

Ownership of Property; Insurance Coverage. 4.9.1. SBBX (a) Alpena Banking Corporation and each SBBX Alpena Banking Subsidiary has good and, as to real property, marketable title to all material assets and properties owned by SBBX it or any SBBX each Alpena Banking Subsidiary in the conduct of its businesses, whether such assets and properties are real or personal, tangible or intangible, including assets and property reflected in the balance sheets contained in the SBBX Regulatory Reports and in the SBBX Financial Statements Alpena Banking Financials or acquired subsequent thereto (except to the extent that such assets and properties have been disposed of in the ordinary course of business, since the date of such balance sheets), subject to no material encumbrances, liens, mortgages, security interests or pledges, except (i) those items which secure liabilities for public or statutory obligations or any discount with, borrowing from or other obligations to FHLB, inter-bank credit facilities, or any transaction by SBBX an Alpena Banking Subsidiary acting in a fiduciary capacity, (ii) statutory liens for amounts not yet delinquent or which that are being contested in good faith, (iii) non-monetary liens affecting real property which that do not adversely affect the value or use of such real property, and (iv) those described and reflected in the SBBX Financial StatementsAlpena Banking Financials. SBBX Alpena Banking Corporation and each SBBX Subsidiarythe Alpena Banking Corporation Subsidiaries, as lessee, has have the right under valid and existing leases of real and personal properties used by SBBX or such SBBX Subsidiary Alpena Banking Corporation and its Subsidiaries in the conduct of their businesses to occupy or use all such properties as presently occupied and used by each of them.

Ownership of Property; Insurance Coverage. 4.9.1. SBBX (a) Seller and each SBBX Seller Subsidiary has good and, as to real property, marketable title to all material assets and properties owned by SBBX Seller or any SBBX each Seller Subsidiary in the conduct of its businesses, whether such assets and properties are real or personal, tangible or intangible, including assets and property reflected in the balance sheets contained in the SBBX Seller Regulatory Reports and in the SBBX Seller Financial Statements or acquired subsequent thereto (except to the extent that such assets and properties have been disposed of in the ordinary course of business, since the date of such balance sheets), subject to no material encumbrances, liens, mortgages, security interests or pledges, except (i) those items which secure liabilities for public or statutory obligations including but not limited to, real estate taxes, assessments and other governmental levies, fees or charge or any discount with, borrowing from or other obligations to the FHLB, inter-bank credit facilities, or any transaction by SBBX a Seller Subsidiary acting in a fiduciary capacity, (ii) statutory liens for amounts not yet delinquent or which are being contested in good faith, (iii) non-monetary liens affecting real property which do not adversely affect the value or use of such real property, (iv) mechanics liens and similar liens for labor, materials, services or supplies provided for such property incurred in the ordinary course of business for amounts not yet delinquent or which are being contested in good faith and (ivv) those described and reflected in the SBBX Seller Financial Statements. SBBX Seller and each SBBX Subsidiarythe Seller Subsidiaries, as lessee, has have the right under valid and existing leases of real and personal properties used by SBBX or such SBBX Subsidiary Seller and the Seller Subsidiaries in the conduct of their businesses to occupy or use all such properties as presently occupied and used by each of them.

Ownership of Property; Insurance Coverage. 4.9.1. SBBX EXX and each SBBX EXX Subsidiary has good and, as to real property, marketable title to all material assets and properties owned by SBBX EXX or any SBBX each EXX Subsidiary in the conduct of its their businesses, whether such assets and properties are real or personal, tangible or intangible, including assets and property reflected in the balance sheets contained in the SBBX EXX Regulatory Reports and in the SBBX EXX Financial Statements or acquired subsequent thereto (except to the extent that such assets and properties have been disposed of in the ordinary course of business, since the date of such balance sheets), subject to no material encumbrances, liens, mortgages, security interests or pledges, except (ia) those items which secure liabilities for public or statutory obligations or any discount with, borrowing from or other obligations to FHLBFHLB or ACBB, inter-bank credit facilities, or any transaction by SBBX a EXX Subsidiary acting in a fiduciary capacity, (iib) statutory liens for amounts not yet delinquent or which are being contested in good faith, (iiic) non-monetary liens affecting real property which do not adversely affect the value or use of such real property, and (ivd) those described and reflected in the SBBX EXX Financial Statements. SBBX EXX and each SBBX Subsidiarythe EXX Subsidiaries, as lessee, has have the right under valid and existing enforceable leases of real and personal properties used by SBBX or such SBBX Subsidiary EXX and its Subsidiaries in the conduct of their businesses to occupy or use all such properties as presently occupied and used by each of them. Neither EXX nor any EXX Subsidiary is in default under any lease for any real or personal property to which either EXX or any EXX Subsidiary is a party, and there has not occurred any event that, with lapse of time or the giving of notice or both, would constitute such a default. EXX is not a party to any agreement pursuant to which it has securitized any of its assets.