The following permitted title exceptions:

• lien of current real property taxes, water charges, sewer rents and assessments not yet due and payable;
• covenants, conditions and restrictions, rights of way, easements and other matters of public record acceptable to the LenderLenderPerson Fannie Mae approved to sell or service Mortgage Loans. and specifically identified in the Title Policy;
• pre-printed exceptions (general and specific) and exclusions set forth in the Title Policy and acceptable to the LenderLenderPerson Fannie Mae approved to sell or service Mortgage Loans. ;
• rights of tenants (as tenants only) under leases (including subleases) pertaining to the PropertyPropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). ;
• if the Mortgage LoanMortgage LoanMortgage debt obligation evidenced, or when made will be evidenced, by the Loan Documents, or  a mortgage debt obligation with a Fannie Mae credit enhancement. is cross-collateralized, the lien of the Mortgage for another Mortgage LoanMortgage LoanMortgage debt obligation evidenced, or when made will be evidenced, by the Loan Documents, or  a mortgage debt obligation with a Fannie Mae credit enhancement. contained in the same cross-collateralized group; and
• condominium declarations of record acceptable to the LenderLenderPerson Fannie Mae approved to sell or service Mortgage Loans. and identified in the Title Policy, provided that none of items (a) through (f), individually or in the aggregate, materially interferes with the current marketability or principal use of the PropertyPropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). , the security intended to be provided by the Mortgage, or the current ability of the PropertyPropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). to generate net cash flow sufficient to service the Mortgage LoanMortgage LoanMortgage debt obligation evidenced, or when made will be evidenced, by the Loan Documents, or  a mortgage debt obligation with a Fannie Mae credit enhancement. or the Borrower’sBorrower’sPerson who is the obligor per the Note. ability to pay its obligations when they become due.