For each Interest rate Improvement Time ahead of the relevant Closure Go out, or no, owner otherwise their agent made rate of interest alterations, while the relevant, for the HELOC which happen to be within the conformity on related Mortgage, Credit Arrangement and you can applicable rules

(m) Conducting business. All parties which have had any interest in the HELOC, whether as mortgagee, assignee, pledgee or otherwise, are (or, during the period in which they held and disposed of such interest, were) (i) in compliance with any and all

relevant licensing requirements of the rules of condition where the Mortgaged House is located, and you may (ii) both (A) planned in legislation of these county, (B) qualified to conduct business in such state, (C) a federal deals and financing connection, a discount lender or a national bank which have a main office in such condition, otherwise (D) perhaps not doing business this kind of county.

(n) Term Insurance rates. Where required by state law or regulation, the Mortgagor has been given the opportunity to choose the carrier of the required insurance. Seller, its successors and assigns, are the sole insureds of such lender’s title insurance policy, the assignment to the Purchaser of the Seller’s interest in such title insurance policy does not require any consent or notification to the insurer which has not been obtained or made, and such lender’s title insurance policy is valid and remains in full force and effect and will be in force and effect upon the consummation of the transactions contemplated by this Agreement. No claims have been made under such lender’s title insurance policy, and no prior holder or servicer of the related Mortgage, including Seller, has done, by act or omission, anything which would impair the coverage of such lender’s title insurance policy, including without limitation, no unlawful fee, commission, kickback or other unlawful compensation or value of any kind has been or will be received, retained or realized by any attorney, firm or other Person, and no such unlawful items have been received, retained or realized by Seller.

(o) Zero Non-payments. There is no default, breach, violation or event of acceleration existing under the Mortgage or installment loans in Ohio the Credit Agreement and no event has occurred which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a default, breach, violation or event of acceleration, and neither Seller nor its predecessors have waived any default, breach, violation or event of acceleration.

While doing so, such as label insurance coverage affirmatively means ingress and you may egress, and you can against encroachments by or on the brand new associated Mortgaged Possessions or one notice therein

(p) Zero Mechanics’ Liens. There are no mechanics’ or similar liens or claims which have been filed for work, labor or material (and no rights are outstanding that under the law could give rise to such liens) affecting the Mortgaged Property which are or may be liens prior to, or equal or coordinate with, the lien of the Mortgage, except for such liens as are expressly insured against by a title insurance policy referred to in (n) above.

(q) Area of Developments; No Encroachments. All improvements which were considered in determining the Appraised Value of the Mortgaged Property lie wholly within the boundaries and building restriction lines of the Mortgaged Property, and no improvements on adjoining properties encroach upon the Mortgaged Property. No improvement located on or being part of the Mortgaged Property is in violation of any applicable zoning and building law, ordinance or regulation and the Seller has not received any notice of noncompliance with any applicable use or zoning law, building law, occupancy law, ordinance, regulation, standard, license or certificate with respect to such Mortgaged Property.

(r) Origination; Fee Terminology. The HELOC was originated by or in conjunction with a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or similar institution which is supervised and examined by a federal or state authority.