Common use of Valid First Lien Clause in Contracts

Valid First Lien. The Mortgage is a valid, subsisting, enforceable and perfected first priority lien and first priority security interest, in each case, on the real property included in the Mortgaged Property, including all buildings on the Mortgaged Property. The appraisal of the Mortgaged Property does not list any material repair or maintenance items. The lien of the Mortgage is subject only to: a. the lien of current real property taxes and assessments not yet due and payable; b. covenants, conditions and restrictions, rights of way, easements and other matters of the public record as of the date of recording acceptable to prudent mortgage lending institutions generally and specifically referred to in Buyer’s title insurance policy delivered to the originator of the Mortgage Loan and (a) referred to or otherwise considered in the appraisal made for the originator of the Mortgage Loan or (b) which do not adversely affect the Appraised Value of the Mortgaged Property set forth in such appraisal; and c. other matters to which like properties are commonly subject which do not materially interfere with the benefits of the security intended to be provided by the Mortgage or the use, enjoyment, value or marketability of the related Mortgaged Property. Any security agreement, chattel mortgage or equivalent document related to and delivered in connection with the Mortgage Loan establishes and creates a valid, subsisting and enforceable first lien and first priority security interest on the property described therein and Seller has full right to pledge and assign the same to Buyer. The Mortgaged Property was not, as of the date of origination of the Mortgage Loan, subject to a mortgage, deed of trust, deed to secure debt or other security instrument creating a lien subordinate to the lien of the Mortgage.

Valid First Lien. The Mortgage mortgage is a valid, subsisting, subsisting and enforceable and perfected first priority lien and first priority security interest, in each case, on the real property included in the Mortgaged Propertymortgaged property, including all buildings on the Mortgaged Property. The appraisal of mortgaged property and all installations and mechanical, electrical, plumbing, heating and air conditioning systems located in or annexed to such buildings, and all additions, alterations and replacements made at any time with respect to the Mortgaged Property does not list any material repair or maintenance itemsforegoing. The lien of the Mortgage mortgage is subject only to: a. (1) the lien of current real property taxes and assessments not yet due and payable; b. (2) covenants, conditions and restrictions, rights of way, easements and other matters of the public record as of the date of recording acceptable to prudent mortgage lending institutions generally and specifically referred to in Buyer’s the lender's title insurance policy delivered to the originator of the Mortgage Loan and (ai) referred to or to otherwise considered in the appraisal made for the originator of the Mortgage Loan or (bii) which do not adversely affect the Appraised Value appraised value of the Mortgaged Property mortgaged property set forth in such appraisal; and c. (3) other matters to which like properties are commonly subject which do not materially interfere with the benefits of the security intended to be provided by the Mortgage mortgage or the use, enjoyment, value or marketability of the related Mortgaged Propertymortgaged property. Any security agreement, chattel mortgage or equivalent document related to and delivered in connection with the Mortgage Loan establishes and creates a valid, subsisting and enforceable first lien and first priority security interest on the property described therein and Seller has full right to pledge pledge, sell, transfer, and assign the same to BuyerBuyer or its designee (including the Custodian). The Mortgaged Property mortgaged property was not, as of the date of origination of the Mortgage Loan, subject to a mortgage, deed of trust, deed to secure secured debt or other security instrument creating a lien subordinate to the lien of the Mortgage.mortgage;

Valid First Lien. The Mortgage is a valid, subsisting, enforceable and perfected first priority lien and first priority security interest, in each case, on the real property included in the Mortgaged Property, including all buildings on the Mortgaged Property. The appraisal of Property and all installations and mechanical, electrical, plumbing, heating and air conditioning systems located in or annexed to such buildings, and all additions, alterations and replacements made at any time with respect to the Mortgaged Property does not list any material repair or maintenance itemsforegoing. The lien of the Mortgage is subject only to: a. (1) the lien of current real property taxes and assessments not yet due and payable; b. (2) covenants, conditions and restrictions, rights of way, easements and other matters of the public record as of the date of recording acceptable to prudent mortgage lending institutions generally and to any applicable Agency, and specifically referred to in Buyerthe lender’s title insurance policy delivered to the applicable Agency or Custodian, and originator of the Mortgage Loan and (a) referred to or otherwise considered in the appraisal made for the originator of the Mortgage Loan or (b) which do not adversely affect the Appraised Value of the Mortgaged Property set forth in such appraisal; and c. (3) other matters to which like properties are commonly subject which do not materially interfere with the benefits of the security intended to be provided by the Mortgage or the use, enjoyment, value or marketability of the related Mortgaged Property, and which will not in any way prevent realization of the full benefits of any FHA Insurance Contract, VA Guaranty Agreement or Rural Housing Service Guaranty. Any security agreement, chattel mortgage or equivalent document related to and delivered in connection with the Mortgage Loan establishes and creates a valid, subsisting and enforceable first lien and first priority security interest on the property described therein and the Seller has full right to pledge and assign the same to the Buyer. The Mortgaged Property was not, as of the date of origination of the Mortgage Loan, subject to a mortgage, deed of trust, deed to secure debt or other security instrument creating a lien subordinate to the lien of the Mortgage.

Valid First Lien. The Mortgage is a valid, subsisting, enforceable and perfected perfected, first priority lien and first priority security interestlien, in each casewith respect to the Mortgage Loans, of record on the a single parcel of real property included in estate constituting the Mortgaged Property, including all buildings and improvements on the Mortgaged Property. The appraisal of the Mortgaged Property does not list and all additions, alterations and replacements made at any material repair or maintenance itemstime. The lien of the Mortgage is subject only to: a. (i) the lien of current real property taxes and assessments not yet due and payable; b. (ii) covenants, conditions and restrictions, rights of way, easements and other matters of the public record as of the date of recording acceptable to prudent mortgage lending institutions generally and specifically referred to in Buyer’s the lender's title insurance policy delivered to the originator of the Mortgage Loan and (a) specifically referred to or otherwise considered in the appraisal made for the originator of the Mortgage Loan or (b) which do not adversely affect the Appraised Value of the Mortgaged Property set forth in such appraisal; and c. (iii) other matters to which like properties are commonly subject which do not materially interfere with the benefits of the security intended to be provided by the Mortgage or the use, enjoyment, value or marketability of the related Mortgaged Property. Any security agreement, chattel mortgage or equivalent document related to and delivered in connection with the Mortgage Loan establishes and creates a valid, subsisting subsisting, enforceable and enforceable perfected first lien and first priority security interest with respect to each Mortgage Loan on the property described therein and Seller Responsible Party has full right to pledge sell and assign the same to Buyer. The Mortgaged Property was not, as of the date of origination of the Mortgage Loan, subject to a mortgage, deed of trust, deed to secure debt or other security instrument creating a lien subordinate to the lien of the Mortgage.GSMC;

Valid First Lien. The Mortgage is a valid, subsisting, enforceable and perfected first priority lien and first priority security interest, in each case, on the real property included in the Mortgaged Property, including all buildings on the Mortgaged Property. The appraisal of the Mortgaged Property does not list any material repair or maintenance items. The lien of the Mortgage is subject only to: a. the lien of current real property taxes and assessments not yet due and payable; b. covenants, conditions and restrictions, rights of way, easements and other matters of the public record as of the date of recording acceptable to prudent mortgage lending institutions generally and specifically referred to in Buyer’s title insurance policy delivered to the originator of the Mortgage Loan and (a) referred to or otherwise considered in the appraisal made for the originator of the Mortgage Loan or (b) which do not adversely affect the Appraised Value of the Mortgaged Property set forth in such appraisal; and c. other matters to which like properties are commonly subject which do not materially interfere with the benefits of the security intended to be provided by the Mortgage or the use, enjoyment, value or marketability of the related Mortgaged Property. Any security agreement, chattel mortgage or equivalent document related to and delivered in connection with the Mortgage Loan establishes and creates a valid, subsisting and enforceable first lien and first priority security interest on the property described therein and Seller has full [***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. right to pledge and assign the same to Buyer. The Mortgaged Property was not, as of the date of origination of the Mortgage Loan, subject to a mortgage, deed of trust, deed to secure debt or other security instrument creating a lien subordinate to the lien of the Mortgage.

Valid First Lien. The Mortgage is a valid, subsisting, enforceable and perfected first priority lien and first priority security interest, in each case, on the real property included in the Mortgaged Property, including all buildings on the Mortgaged Property. The appraisal of the Mortgaged Property does not list any material repair or maintenance items. The lien of the Mortgage is subject only to: a. the lien of current real property taxes and assessments not yet due and payable; b. covenants, conditions and restrictions, rights of way, easements and other matters of the public record as of the date of recording acceptable to prudent mortgage lending institutions generally and specifically referred to in Buyerlender’s title insurance policy delivered to the originator of the Mortgage Loan and (a) referred to or otherwise considered in the appraisal made for the originator of the Mortgage Loan or (b) which do not adversely affect the Appraised Value of the Mortgaged Property set forth in such appraisal; and c. other matters to which like properties are commonly subject which do not materially interfere with the benefits of the security intended to be provided by the Mortgage or the use, enjoyment, value or marketability of the related Mortgaged Property. Any security agreement, chattel mortgage or equivalent document related to and delivered in connection with the Mortgage Loan establishes and creates a valid, subsisting and enforceable first lien and first priority security interest on the property described therein and Seller has full right to pledge and assign the same to BuyerAdministrative Agent. The Mortgaged Property was not, as of the date of origination of the Mortgage Loan, subject to a mortgage, deed of trust, deed to secure debt or other security instrument creating a lien subordinate to the lien of the Mortgage.

Valid First Lien. The Mortgage is a valid, subsisting, subsisting and ---------------- enforceable and perfected first priority lien and first priority security interest, in each case, on the real property included in the Mortgaged Property, including all buildings on the Mortgaged Property. The appraisal of the Mortgaged Property does not list any material repair or maintenance items. The lien of the Mortgage is subject only to: a. (1) the lien of current real property taxes and assessments not yet due and payable; b. (2) covenants, conditions and restrictions, rights of way, easements and other matters of the public record as of the date of recording acceptable to prudent mortgage lending institutions generally and specifically referred to in Buyer’s the lender's title insurance policy delivered to the originator of the Mortgage Loan and (ai) referred to or to otherwise considered in the appraisal made for the originator of the Mortgage Loan or (bii) which do not adversely affect the Appraised Value of the Mortgaged Property set forth in such appraisal; and c. (3) other matters to which like properties are commonly subject which do not materially interfere with the benefits of the security intended to be provided by the Mortgage mortgage or the use, enjoyment, value or marketability of the related Mortgaged Property. Any security agreement, chattel mortgage or equivalent document related to and delivered in connection with the Mortgage Loan establishes and creates a valid, subsisting and enforceable first lien and first priority security interest on the property described therein and Seller the Company has full right to pledge sell and assign the same to Buyerthe Purchaser. The Mortgaged Property was not, as of the date of origination of the Mortgage Loan, subject to a mortgage, deed of trust, deed to secure secured debt or other security instrument creating a lien subordinate to the lien of the Mortgage.;