Subject to Gaming Laws and Liquor Laws, Trustor represents and warrants that Trustor lawfully holds and possesses fee simple title to that portion of the Subject Property constituting real property without limitation on the right to encumber, and that this Deed of Trust is a first priority lien on the Subject Property, subject only to the Permitted Liens (as defined in the Indenture). Neither Trustor, nor any Affiliate of Trustor, has any interest in any real property, not encumbered hereby, which is utilized in any material manner in connection with the use and/or operation of the Subject Property or which is necessary and required for the use and operation of the Subject Property.