Common use of Warranty of Title; Power and Authority Clause in Contracts

Warranty of Title; Power and Authority. Grantor warrants that, with respect to the fee interest in the Premises, it has a good and marketable title to an indefeasible fee estate subject to no lien, charge or encumbrance, that the Ground Lease is subject to no lien, charge or encumbrance of any kind and is prior to all liens, charges and encumbrances whatsoever on the fee interest of the landlord thereunder, except in either case such as are listed as exceptions to title in the title policy insuring the lien hereof; and, Grantor further warrants that, with respect to the leasehold interest in the Premises, that it is the owner of a valid and subsisting interest as tenant under the Ground Lease, that the Ground Lease is in full force and effect, there are no defaults thereunder and no event has occurred or is occurring which after notice or passage of time or both will result in such a default; that it owns the Chattels, all leases and the Rents in respect of the Mortgaged Property and all other personal property encumbered hereby free and clear of liens and claims; and Grantor warrants that this Deed is and will remain a valid and enforceable lien on the Mortgaged Property subject only to the exceptions referred to above. Grantor has full power and lawful authority to subject the Mortgaged Property to the lien hereof in the manner and form herein done or intended hereafter to be done. Grantor will preserve such title, will preserve such leasehold estate created by the Ground Lease and will forever warrant and defend the same to Trustee and Beneficiary and will forever warrant and defend the validity and priority of the lien hereof against the claims of all persons and parties whomsoever. Grantor will perform or cause to be performed all of the covenants and conditions required to be performed by it under the Ground Lease, will do all things necessary to preserve unimpaired its rights thereunder, and will not (i) enter into any agreement modifying or amending the Ground Lease that would reduce the term of the Ground Lease, increase the amount of rent payable thereunder (except as contemplated by the provisions of the Ground Lease) or have a material adverse effect on the lien created by this Deed or the rights of Beneficiary hereunder or (ii) for so long as the Ground Lease is in effect, release the landlord thereunder from any obligations imposed upon it thereby. If Grantor receives a notice of default under the Ground Lease, it shall immediately cause a copy of such notice to be sent by registered United States mail to Beneficiary.

Warranty of Title; Power and Authority. Grantor Mortgagor warrants that, with respect to the fee interest in the Premises, it has a good and marketable title to an indefeasible fee estate subject to no lien, charge or encumbrance, that the Ground Lease is subject to no lien, charge or encumbrance of any kind and is prior to all liens, charges and encumbrances whatsoever on the fee interest of the landlord thereunder, except in either case such as are listed as exceptions to title in the title policy insuring the lien hereof; and, Grantor Mortgagor further warrants that, with respect to the leasehold interest in the Premises, that it is the owner of a valid and subsisting interest as tenant under the Ground Lease, that the Ground Lease is in full force and effect, there are no defaults thereunder and no event has occurred or is occurring which after notice or passage of time or both will result in such a default; that it owns the Chattels, all leases and the Rents in respect of the Mortgaged Property and all other personal property encumbered hereby free and clear of liens and claims; and Grantor Mortgagor warrants that this Deed Mortgage is and will remain a valid and enforceable lien on the Mortgaged Property subject only to the exceptions referred to above. Grantor Mortgagor has full power and lawful authority to subject the Mortgaged Property to the lien hereof in the manner and form herein done or intended hereafter to be done. Grantor Mortgagor will preserve such title, will preserve such leasehold estate created by the Ground Lease and will forever warrant and defend the same to Trustee Mortgagee and Beneficiary Mortgagee and will forever warrant and defend the validity and priority of the lien hereof against the claims of all persons and parties whomsoever. Grantor Mortgagor will perform or cause to be performed all of the covenants and conditions required to be performed by it under the Ground Lease, will do all things necessary to preserve unimpaired its rights thereunder, and will not (i) enter into any agreement modifying or amending the Ground Lease that would reduce the term of the Ground Lease, increase the amount of rent payable thereunder (except as contemplated by the provisions of the Ground Lease) or have a material adverse effect on the lien created by this Deed Mortgage or the rights of Beneficiary Mortgagee hereunder or (ii) for so long as the Ground Lease is in effect, release the landlord thereunder from any obligations imposed upon it thereby. If Grantor Mortgagor receives a notice of default under the Ground Lease, it shall immediately cause a copy of such notice to be sent by registered United States mail to BeneficiaryMortgagee.

Warranty of Title; Power and Authority. Grantor Mortgagor warrants that, with respect to the fee interest in the Premises, it has a good and marketable title to an indefeasible fee estate subject to no lien, charge or encumbrance, that the Ground Lease is subject to no lien, charge or encumbrance of any kind and is prior to all liens, charges and encumbrances whatsoever on the fee interest of the landlord thereunder, except in either case such as are listed as exceptions to title in the title policy insuring the lien hereof; and, Grantor Mortgagor further warrants that, with respect to the leasehold interest in the Premises, that it is the owner of a valid and subsisting interest as tenant under the Ground Lease, that the Ground Lease is in full force and effect, there are no defaults thereunder and no event has occurred or is occurring which after notice or passage of time or both will result in such a default; that it owns the Chattels, all leases and the Rents in respect of the Mortgaged Property and all other personal property encumbered hereby free and clear of liens and claims; and Grantor Mortgagor warrants that this Deed Mortgage is and will remain a valid and enforceable lien on the Mortgaged Property subject only to the exceptions referred to above. Grantor Mortgagor has full power and lawful authority to subject mortgage the Mortgaged Property to the lien hereof in the manner and form herein done or intended hereafter to be done. Grantor Mortgagor will preserve such title, will preserve such leasehold estate created by the Ground Lease and will forever warrant and defend the same to Trustee and Beneficiary Mortgagee and will forever warrant and defend the validity and priority of the lien hereof against the claims of all persons and parties whomsoever. Grantor Mortgagor will perform or cause to be performed all of the covenants and conditions required to be performed by it under the Ground Lease, will do all things necessary to preserve unimpaired its rights thereunder, and will not (i) enter into any agreement modifying or amending the Ground Lease that would reduce the term of the Ground Lease, increase the amount of rent payable thereunder (except as contemplated by the provisions of the Ground Lease) or have a material adverse effect on the lien created by this Deed Mortgage or the rights of Beneficiary Mortgagee hereunder or (ii) for so long as the Ground Lease is in effect, release the landlord thereunder from any obligations imposed upon it thereby. If Grantor Mortgagor receives a notice of default under the Ground Lease, it shall immediately cause a copy of such notice to be sent by registered United States mail to BeneficiaryMortgagee.

Warranty of Title; Power and Authority. Grantor warrants -------------------------------------- that, with respect to the fee interest in the Premises, it has a good and marketable title to an indefeasible fee estate subject to no lien, charge or encumbrance, that the Ground Lease is subject to no lien, charge or encumbrance of any kind and is prior to all liens, charges and encumbrances whatsoever on the fee interest of the landlord thereunder, except in either case such as are listed as exceptions to title in the title policy insuring the lien hereof; and, Grantor further warrants that, with respect to the leasehold interest in the Premises, that it is the owner of a valid and subsisting interest as tenant under the Ground Lease, that the Ground Lease is in full force and effect, there are no defaults thereunder and no event has occurred or is occurring which after notice or passage of time or both will result in such a default; that it owns the Chattels, all leases and the Rents in respect of the Mortgaged Property and all other personal property encumbered hereby free and clear of liens and claims; and Grantor warrants that this Deed is and will remain a valid and enforceable lien on the Mortgaged Property subject only to the exceptions referred to above. Grantor has full power and lawful authority to subject the Mortgaged Property to the lien hereof in the manner and form herein done or intended hereafter to be done. Grantor will preserve such title, will preserve such leasehold estate created by the Ground Lease and will forever warrant and defend the same to Trustee and Beneficiary and will forever warrant and defend the validity and priority of the lien hereof against the claims of all persons and parties whomsoever. Grantor will perform or cause to be performed all of the covenants and conditions required to be performed by it under the Ground Lease, will do all things necessary to preserve unimpaired its rights thereunder, and will not (i) enter into any agreement modifying or amending the Ground Lease that would reduce the term of the Ground Lease, increase the amount of rent payable thereunder (except as contemplated by the provisions of the Ground Lease) or have a material adverse effect on the lien created by this Deed or the rights of Beneficiary hereunder or (ii) for so long as the Ground Lease is in effect, release the landlord thereunder from any obligations imposed upon it thereby. If Grantor receives a notice of default under the Ground Lease, it shall immediately cause a copy of such notice to be sent by registered United States mail to Beneficiary.

Warranty of Title; Power and Authority. Grantor warrants that, with respect to the fee interest in the Premises, it has a good and marketable title to an indefeasible fee estate subject to no lien, charge or encumbrance, that the Ground Lease is subject to no lien, charge or encumbrance of any kind and is prior to all liens, charges and encumbrances whatsoever on the fee interest of the landlord thereunder, except in either case such as are listed as exceptions to title in the title policy insuring the lien hereof; and, Grantor further warrants that, with respect to the leasehold interest in the Premises, that it is the owner of a valid and subsisting interest as tenant under the Ground Lease, that the Ground Lease is in full force and effect, there are no defaults thereunder and no event has occurred or is occurring which after notice or passage of time or both will result in such a default; that it owns the Chattels, all leases and the Rents in respect of the Mortgaged Property and all other personal property encumbered hereby free and clear of liens and claims; and Grantor warrants that this Deed is and will remain a valid and enforceable lien on the Mortgaged Property subject only to the exceptions referred to above. Grantor has full power and lawful authority to subject the Mortgaged Property to the lien hereof in the manner and form herein done or intended hereafter to be done. Grantor will preserve such title, will preserve such leasehold estate created by the Ground Lease and will forever warrant and defend the same to Trustee and Beneficiary and will forever warrant and defend the validity and priority of the lien hereof against the claims of all persons and parties whomsoever. Grantor will perform or cause to be performed all of the covenants and conditions required to be performed by it under the Ground Lease, will do all things necessary to preserve unimpaired its rights thereunder, and will not (i) enter into any agreement modifying or amending the Ground Lease that would reduce the term of the Ground Lease, increase the amount of rent payable thereunder (except as contemplated by the provisions of the Ground Lease) or have a material adverse effect on the lien created by this Deed or the rights 0rights of Beneficiary hereunder or (ii) for so long as the Ground Lease is in effect, release the landlord thereunder from any obligations imposed upon it thereby. If Grantor receives a notice of default under the Ground Lease, it shall immediately cause a copy of such notice to be sent by registered United States mail to Beneficiary.