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This excerpt taken from the MRVL 8-K filed May 24, 2007. PERMITTED ENCUMBRANCES Those exceptions set forth in Schedule B of that certain policy of title insurance by First American Title Insurance Company, order number 4305-5218025C dated November 7, 2003, the “standard” title exceptions shown on the commitment to issue such title insurance policy, and such other liens and matters disclosed by [an updated title search, as such additional matters are reasonably acceptable to the Beneficiary]. |