(m) All taxes, governmental assessments and insurance premiums that previously became due and owing with respect to the related Mortgage, Mortgage Note and Mortgaged Property have been paid.
(n) The terms of the Mortgage Note and the Mortgage have not been impaired, waived, altered, extended, deferred or modified in any respect from the date of origination, except in accordance with the Guides and applicable law and as included in the Collateral File, Credit File or Servicing File. The terms of any waiver, alteration or modification are reflected in the Mortgage Loan Schedule and have been approved by the FHA and the title insurer, to the extent required thereby.
(o) Each Mortgage is a valid, subsisting and enforceable first lien on the related Mortgaged Property securing the related Mortgage Note’s original principal balance, free and clear of all encumbrances and liens having priority over the lien of the Mortgage except for (A) the lien of non-delinquent 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 that are acceptable to mortgage lending institutions generally in the area in which the Mortgaged Property is located and either (i) are referred to or otherwise considered in the appraisal made for the originator of the related HECM Loan or (ii) do not adversely affect the updated appraised value of the related Mortgaged Property as set forth in such appraisal, and (C) other matters to which like properties are commonly subject that, in each case, do not individually or in the aggregate materially interfere with the benefits of the security intended to be provided by the related Mortgage.
(p) No violation of any environmental law, rule or regulation exists or existed with respect to any Mortgaged Property, and Seller has no reasonable grounds to suspect the presence of any toxic materials or other environmental hazards on, in or that could affect any Mortgaged Property (other than those substances commonly used in connection with home maintenance and repair and which have not been misused) nor the presence of any material adverse environmental condition with respect to any Mortgaged Property (including, but not limited to, the condition of the soil, water, ground water, the presence of hazardous substances, asbestos, mold, radon or underground storage tanks), except that has been expressly disclosed to Purchaser in writing prior to the Closing Date. Neither Seller nor, to Seller’s Actual Knowledge, the related Mortgagor has received any notice of any violation or potential violation of any such law, rule or regulation.
(q) The Advances set forth on the Cut-Off Date Stated Principal and Advance Balance pertaining to each HECM Loan (i) are valid and subsisting amounts owing to Seller, (ii) are documented and supported on a loan level basis, (iii) are carried on the books of Seller at values determined in accordance with generally accepted accounting principles and (iv) are not subject to any set-offs or claims of the Mortgagor arising from acts or omissions of Seller that could be asserted against Purchaser.
(r) Each HECM Loan (i) provides that any Principal Advance increases the outstanding principal balance of related HECM Loan and is secured by an interest in the same Mortgaged Property as the related HECM Loan, (ii) provides for a principal limit in accordance with the Guides, (iii) contains provisions that do not permit recourse against the Mortgagor, (iv) provides that all