Common use of Title to Properties; Liens and Encumbrances Clause in Contracts

Title to Properties; Liens and Encumbrances. Except as set forth in the Schedule of Exceptions, the Company owns, or holds under lease, all real and personal property used by it in its business. All property owned by the Company (all of which is listed on EXHIBIT "3.13" hereto) is so owned free and clear of all mortgages, pledges, liens or charges.