RENTS
RELATED TO THE RELATED MORTGAGED PROPERTY.
(U)
ALL ESCROW DEPOSITS RELATING TO SUCH LOAN THAT ARE REQUIRED TO BE
DEPOSITED WITH THE RELATED SELLER OR ITS AGENT HAVE BEEN SO DEPOSITED.
5
(V)
THE RELATED MORTGAGED PROPERTY SECURING SUCH LOAN WAS AND IS FREE
AND CLEAR OF ANY MECHANICS' AND MATERIALMEN'S LIENS OR LIENS IN THE NATURE
THEREOF WHICH CREATE A LIEN PRIOR TO THAT CREATED BY THE RELATED MORTGAGE,
EXCEPT THOSE WHICH ARE (I) INSURED AGAINST BY THE TITLE POLICY REFERRED TO IN
(E) ABOVE OR (II) OTHERWISE INSURED AGAINST OR BONDED WITHIN 45 DAYS OF THE
SOONER TO OCCUR OF (A) KNOWLEDGE BY, OR (B) NOTICE TO, THE SELLER WITH RESPECT
TO SUCH MECHANICS' AND MATERIALMEN'S LIENS OR LIENS IN THE NATURE THEREOF.
(W)
NO IMPROVEMENT THAT WAS INCLUDED FOR THE PURPOSE OF DETERMINING THE
APPRAISED VALUE OF THE RELATED MORTGAGED PROPERTY SECURING SUCH LOAN LAY OUTSIDE
THE BOUNDARIES AND BUILDING RESTRICTION LINES OF SUCH PROPERTY IN ANY WAY THAT
WOULD MATERIALLY AND ADVERSELY AFFECT THE VALUE OF SUCH MORTGAGED PROPERTY OR
THE ABILITY TO OPERATE THE MORTGAGED PROPERTY UNDER THE RELATED LEASE (UNLESS
AFFIRMATIVELY COVERED BY THE TITLE INSURANCE REFERRED TO IN PARAGRAPH
(E) ABOVE), AND NO IMPROVEMENTS ON ADJOINING PROPERTIES ENCROACHED UPON SUCH
MORTGAGED PROPERTY TO ANY MATERIAL EXTENT.
(X)
(I) THERE EXISTS NO MATERIAL DEFAULT, BREACH OR EVENT OF
ACCELERATION UNDER, OR WITH RESPECT TO, SUCH LOAN, THE RELATED MORTGAGE, THE
RELATED MASTER LOAN AGREEMENT, ANY OF THE RELATED LOAN DOCUMENTS OR THE RELATED
LEASE, (II) THERE EXISTS NO EVENT (OTHER THAN PAYMENTS DUE BUT NOT YET
DELINQUENT) THAT, WITH THE PASSAGE OF TIME OR WITH NOTICE AND THE EXPIRATION OF
ANY GRACE OR CURE PERIOD, WOULD CONSTITUTE SUCH A MATERIAL DEFAULT, BREACH OR
EVENT OF ACCELERATION AND (III) NO PAYMENT ON SUCH LOAN IS, OR HAS PREVIOUSLY
BEEN, 30 OR MORE DAYS DELINQUENT.
(Y)
IN CONNECTION WITH THE ORIGINATION OF SUCH LOAN, SELLER INSPECTED
OR CAUSED TO BE INSPECTED THE RELATED MORTGAGED PROPERTY SECURING SUCH LOAN BY
INSPECTION, APPRAISAL OR OTHERWISE AS REQUIRED IN SELLER'S UNDERWRITING
GUIDELINES THEN IN EFFECT.
(Z)
NO LOAN DOCUMENT RELATED TO SUCH LOAN PROVIDES FOR ANY EQUITY
PARTICIPATION OR SHARED APPRECIATION RIGHTS AND NO SUCH LOAN DOCUMENT PROVIDES
FOR ANY CONTINGENT OR ADDITIONAL INTEREST IN THE FORM OF PARTICIPATION IN THE
CASH FLOW OF THE RELATED MORTGAGED PROPERTY SECURING THE LOAN, OR FOR NEGATIVE
AMORTIZATION.
(AA)
NEITHER SELLER NOR ANY AFFILIATE THEREOF HAS ADVANCED FUNDS, OR
INDUCED, SOLICITED OR KNOWINGLY RECEIVED ANY ADVANCE OF FUNDS FROM A PARTY OTHER
THAN THE RELATED BORROWER, DIRECTLY OR INDIRECTLY, FOR THE PAYMENT OF ANY AMOUNT
REQUIRED UNDER SUCH LOAN (OTHER THAN AMOUNTS PAID BY THE RELATED TENANT AS
SPECIFICALLY PROVIDED UNDER THE RELATED LEASE).
(BB)
TO SELLER'S KNOWLEDGE, BASED ON DUE DILIGENCE PERFORMED IN THE
ORIGINATION OR ACQUISITION OF COMPARABLE MORTGAGE LOANS BY SELLER IN ACCORDANCE
WITH THE UNDERWRITING GUIDELINES, (I) THE RELATED BORROWER AND THE RELATED
TENANT EACH WAS IN COMPLIANCE WITH ALL APPLICABLE LAWS RELATING TO THE OWNERSHIP