Common use of Title to Mortgaged Property Clause in Contracts

Title to Mortgaged Property. Borrower has good and marketable title to all of the Mortgaged Property, subject to no lien, mortgage, pledge, encroachment, zoning violation, or encumbrance, except Permitted Encumbrances (specifically including special exceptions reflected in Lender’s title insurance policies insuring the Mortgage) which do not materially interfere with the security intended to be provided by the Mortgage or the current use or operation of the Land and the Improvements or the current ability of the Facility to generate net operating income sufficient to service the Loan. All Improvements situated on the Land are situated wholly within the boundaries of the Land.

Title to Mortgaged Property. Borrower has good and marketable title to all of the Mortgaged Property, subject to no lien, mortgage, pledge, encroachment, zoning violation, or encumbrance, except Permitted Encumbrances, which Permitted Encumbrances (specifically including special exceptions reflected in Lender’s title insurance policies insuring the Mortgage) which do not and will not materially interfere with the security intended to be provided by the Mortgage or the current use or operation of the Land and the Improvements or the current ability of the any Facility to generate net operating income sufficient to service the LoanLoan allocated to such Facility as shown on Schedule III. All Improvements situated on the Land are situated wholly within the boundaries of the Land, and no neighboring properties encroach onto the Land.