Common use of Warranties of Title Clause in Contracts

Warranties of Title. Mortgagor warrants that Mortgagor has and owns good and marketable fee simple title in and to the Land and the Improvements thereon and has the right to mortgage the same; that Mortgagor owns the Fixtures on the Land free and clear of all liens, claims or other encumbrances except as set forth in Schedule B, Section 2 of the title insurance commitment issued by Lawyers Title Insurance Corporation in connection with this Mortgage (the "TITLE COMMITMENT"); and that this Mortgage is a valid and enforceable lien on the Mortgaged Property of the Mortgagor, the covenants, restrictions, reservations, conditions, and easements approved by the Mortgagee. Mortgagor covenants that it shall (a) preserve such title and the validity and priority of the lien hereof and shall forever warrant and defend the same to Mortgagee against the claims of all and every person or persons, corporation or corporations and parties whomsoever claiming or threatening to claim the same or any part thereof, and (b) make, execute, acknowledge, and deliver all such further or other mortgages, documents, instruments or assurances, and cause other mortgages, documents, instruments or assurances, and cause to be done all such further acts and things as may at any time hereafter be reasonably desired or required by Mortgagee to fully protect the lien of this Mortgage.

Warranties of Title. Each Mortgagor jointly and severally warrants that the Mortgagors or a Mortgagor has and owns good and marketable fee simple title in and to the Land and the Improvements thereon and has the right to mortgage the same; that Mortgagors or a Mortgagor owns the Fixtures on the Land free and clear of all liens, claims or other encumbrances except as set forth in Schedule B, Section 2 of the title insurance commitment issued by Lawyers Title Insurance Corporation in connection with this Junior Mortgage (the "TITLE COMMITMENT"); and that this Junior Mortgage is a valid and enforceable lien on the Mortgaged Property of the MortgagorMortgagors subject only to the liens of the Senior Mortgages (as defined in Section 41 hereof), the covenants, restrictions, reservations, conditions, and easements approved by the MortgageeMortgagee and liens permitted by the Secured Agreement. Each Mortgagor jointly and severally covenants that it shall (a) preserve such title and the validity and priority of the lien hereof and shall forever warrant and defend the same to Mortgagee against the claims of all and every person or persons, corporation or corporations and parties whomsoever claiming or threatening to claim the same or any part thereof, and (b) make, execute, acknowledge, and deliver all such further or other mortgages, documents, instruments or assurances, and cause other mortgages, documents, instruments or assurances, and cause to be done all such further acts and things as may at any time hereafter be reasonably desired or required by Mortgagee to fully protect the lien of this Junior Mortgage.