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",!!;"'1> 93-' 110869 Bonds and the Series 1993 Bonds are hereinafter collectively r2rerred to as the "Bonds") will be equally and ratably secured by the Notes. As further security for the payment of the Series 1993 Bonds and any Additional Bonds the Issuer has, pursuant to the terms of the Indenture, assigned all of its rights in and to the Notes and this Mortgage to the Trustee. As additional security for the Notes, and the indebted- ness, obligations or liabilities of the Company to the Issuer or the Trustee under and in accordance with the Agreement, the Company hereby covenants and agrees as follows: SECTION 1. Title to the Project and the, Status of the. Lien of this Mortqaqe. (a) The Company 18 lawfully seized of the fee simple title in and to the Land and the Company has a good right to grant and convey the same; the lien of this Mortgage is a first, prior, and superior lien and encumbrance on the Land, subject only to Permitted Encumbrances as defined in the Agreement, and the Company hereby warrants and will defend fee simple title thereto against the lawful claims of all persons, subject only to such Permitted Encumbrances. (b) The Company will be lawfully seized of the fee simple title to the entire Project upon its completion pursuant to the terms of the Agreement and the Company shall have a good right to grant and convey the same; upon the completion of the Project, this Mortgage shall be a first, prior, and superior lien and encumbrance on the entire Project, subject only to Permitted Encumbrances as defined in the Agreement, and the Company hereby warrants and will defend fee simple title thereto against the lawful claims of all persons. SECTION 2. The Notes. The Company agrees to pay the Notes with all interest thereon in accordance with their terms and to pay all sums, the failure to pay which may resul t in the 5