The security interest granted to Lender pursuant to this Agreement constitutes and creates a valid and continuing first lien on and first security interest in the Collateral in favor of Lender. Debtor is the sole owner of the Collateral, and has good and marketable title to it, free and clear of all liens, security interests, encumbrances or adverse claims, except for the security interests created by this Agreement. No chattel mortgage, collateral chattel mortgage, statement of assignment, notice of assignment, notice of security interest or effective financing statement or other instrument similar in effect covering all or any part of the Collateral is on file in any recording in any jurisdiction. There are no effective pledges or collateral assignments affecting all or any part of the Collateral other than those in favor of Lender.