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��s'��3359 repair, and, in case any damages should result from any cause, proper and suitable repairs will be immediately made and installed so that the improvements on said premises will be maintained in at least as good condition as the same are at the present time, or as they shall be after development, ordinary wear and tear excepted. 4 . The Mortgagor shall maintain a policy or policies of insurance providing coverage for fire, extended coverage, vandalism and malicious mischief, and such perils as the Mortgagee may require . The policy must be issued by an insurance company approved by the Mortgagee and must provide coverage in an amount to the full insurable value of the premises and in satisfaction of any co-insurance requirements, which amount must not be less than the principal amount of the Note secured hereby. The policy must contain a standard mortgage clause naming the Mortgagee as first mortgagee and containing a 30-day non-cancellation clause and a loss payable clause in favor of the Mortgagee . The original policy and all renewals thereof (or certified copies of the same) shall be held by the Mortgagee . If the Mortgagor fails to procure, pay for and deliver to the Mortgagee any policy or policies of insurance and/or renewals thereof, the Mortgagee may at its option, but shall be under no obligation to do so, effect such insurance and pay the premiums therefor, and the Mortgagor will repay the Mortgagee on demand any premium so paid with interest at the per annum rate of fifteen percent (15%) from the date of payment, and the same shall be secured by this Mortgage . 5 . Mortgagor will pay all taxes, charges, or assessments of every kind and nature that may be levied or charged upon said premises herein described, as soon as the same may be due, and will , before the first day of each month following the period when said payment is due, deliver to the Mortgagee the receipt of the proper officer showing the payment of same . If the Mortgagor fails to discharge any taxes, charges, or assessments by their due, the Mortgagee may, at its option, but shall be under no obligation to do so, pay such taxes, charges or assessments and the Mortgagor will repay the Mortgagee, on demand, any amounts so paid with interest at the rate of fifteen percent (150) per annum from the date of payment, and the same shall be secured by this Mortgage . 6 . Mortgagor shall keep said premises free from all judgments, mechanic ' s liens, and all other statutory liens of whatsoever nature, and if any action or proceeding be commenced to which action or proceeding the holder of this Mortgage is made a party or in which it becomes proper or necessary to defend or uphold the lien of this Mortgage, Mort�agor agrees to pay to the Mortgagee, all sums, including costs, expenses and reasonable ager�ts and attorneys ' fees which it may extend, or for which it may become obligated in any proceedings, legal or otherwise, to establish and sustain the lien of this Mortgage, or its priority, 3