No Defenses. The Mortgage Loan (and the Assignment of Proprietary Lease related to each Co-op Loan) is not subject to any right of rescission, set-off, counterclaim or defense, including without limitation the defense of usury, nor will the operation of any of the terms of the Mortgage Note or the Mortgage or with respect to a Ginnie Mae Modified Loan, the terms of the Modification Agreement, or the exercise of any right thereunder, render either the Mortgage Note or the Mortgage or with respect to a Ginnie Mae Modified Loan, the Modification Agreement unenforceable, in whole or in part, or subject to any right of rescission, set-off, counterclaim or defense, including without limitation the defense of usury, and no such right of rescission, set-off, counterclaim or defense has been asserted with respect thereto, and, other than with respect to a Scratch and Dent Mortgage Loan, no Mortgagor was a debtor in any state or federal bankruptcy or insolvency proceeding at, or subsequent to, the time the Mortgage Loan was originated or with respect to a Ginnie Mae Modified Loan, at the time the Modification Agreement was entered into.
No Defenses. TheThis Agreement, the Note, the Mortgage and the other Loan (and the Assignment of Proprietary Lease related to each Co-op Loan) isDocuments are not subject to any right of rescission, set-off, counterclaim or defense, including without limitation the defense of usury, nor willwould the operation of any of the terms of this Agreement, the Mortgage Note orNote, the Mortgage or with respect to a Ginnie Mae Modified Loan, the termsany of the Modification Agreement,other Loan Documents, or the exercise of any right thereunder, render eitherthis Agreement, the Mortgage Note orNote, the Mortgage or with respect to a Ginnie Mae Modified Loan,any of the Modification Agreementother Loan Documents unenforceable, in whole or in part, or subject to any right of rescission, set-off, counterclaim or defense, including without limitation the defense of usury, and no suchusury. Neither β nor any Person claiming through β has asserted any right of rescission, set-off, counterclaim or defense has been asserted with respect thereto, and,defense. β knows of no facts that would support a claim of usury to defeat or avoid its obligation to repay the principal of, interest on, and other than with respect to a Scratchsums or amounts due and Dent Mortgage Loan, no Mortgagor was a debtor in any state or federal bankruptcy or insolvency proceeding at, or subsequent to,payable under, the time the Mortgage Loan was originated or with respect to a Ginnie Mae Modified Loan, at the time the Modification Agreement was entered into.Documents.
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