Titan Europe 2007-1 (NHP) Limited - Irish Stock Exchange

(l) Subject as set out in paragraph (k) above:
(i) the Security Agent has a good and marketable title to the Mortgages at law, subject to paragraph
(cc) below, and all things necessary to complete the Security Agent’s title to such Mortgages have
been done or are in the process of being done; and
(ii) the Security Agent is (subject to necessary registrations and recordings to the extent set forth in
paragraph (cc) below) the legal, and the Loan Seller is the beneficial, owner of the Mortgages, free
and clear of all material encumbrances, overriding interests (in each case, other than those to which
each relevant Property is subject), claims and equities and there were at the time of completion of
the relevant Mortgage, no adverse entries of encumbrances or applications for adverse entries of
encumbrances against any title at the Land Registry in England, or (as applicable) the Registers of
Scotland, Land Registry of Northern Ireland or Registry of Deeds for Northern Ireland, to any
relevant Property which would rank in priority to the Security Agent’s or the Loan Seller’s
interests therein.
(m) The Loan Seller is the legal and beneficial (subject to any necessary registrations) owner of the Libra
Loan free and clear of all encumbrances (other than those to which each Property is subject) and
claims.
(n) The legal and beneficial right, title and interest of the Loan Seller in the Libra Loan and the legal and
beneficial right, title and interest in the Related Security may be assigned, pledged or, as the case may
be, transferred absolutely, or, as the case may be, by operation of law or pursuant to the Loan
Documents, otherwise transferred to the Issuer.
(o) Immediately prior to advancing the Libra Whole Loan, the Properties charged as security therefore
were valued for the Loan Arranger by an independent, qualified surveyor or valuer appointed by the
Loan Arranger (on the basis of 50 sample full property inspections and, in addition, 187 sample
external inspections) and the principal amount advanced under the Libra Whole Loan at the date of
such advance did not exceed 87.6 per cent. of the amount of the Valuation.
(p) Prior to advancing the Libra Whole Loan, the Loan Arranger engaged an environmental consultant to
conduct at least a Stage 1 survey of the Properties. The results of such environmental survey did not
disclose any material violation of applicable environmental laws prior to the origination of the Libra
Whole Loan or the Closing Date in respect of which: (i) an operations and maintenance plan was not
established by the Borrower; (ii) a reserve was not established to remedy the relevant violation; or (iii)
all steps required to cure such violation were not taken.
(q) Prior to making the advance under the Libra Whole Loan, Reports on Title (excluding the Subsequent
Certificates of Title) were prepared by lawyers who addressed such reports to the Loan Arranger and
the Security Agent, which disclosed nothing which caused the Loan Arranger to decline to proceed
with the advance on its agreed terms.
(r) As at the Closing Date, to the best of the Loan Arranger’s knowledge:
(i) each Property is covered by a buildings insurance policy maintained by the relevant Obligor or
another person with an interest in the relevant Property on a full reinstatement basis and against the
risks and to the extent recommended in the insurance due diligence report provided in connection
with the Libra Whole Loan prior to the advancing of the Libra Whole Loan;
(ii) the Security Agent has been named as a co-insured in respect of each such policy or otherwise its
interest has been noted on the policy;
(iii) the relevant insurance policy for each relevant Property provides cover in respect of at least three
years’ loss of rent; and
(iv) the Loan Arranger has not received and (so far as the Loan Arranger is aware) nor has the Security
Agent received written notice that any such insurance policy is about to lapse on account of failure
by the relevant entity maintaining such insurance to pay the relevant premia.
(s) None of the Loan Seller, Original Lender or Loan Arranger has received written notice and to their
knowledge (without having made any specific enquiries) neither the Borrower nor any Obligor is in
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