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200204303 First, to the payment of accrued interest on the unpaid principal and Second, toward the reduction of the principal of the Note. If the note shall be executed by the said Mortgagor and payable to the order of said Mortgagee at Minneapolis, Minnesota and Mortgagor shall repay to said Mortgagee, its successors or assigns at the times and with interest as hereinafter specified, all sums advanced in protecting the lien of this Mortgage, in payment of taxes on said premises, insurance premiums covering buildings thereon, principal or interest on any prior liens, expenses and attorney's fees herein provided for, the sums advanced for any other purpose authorized herein, and shall keep and perform all the covenants and agreements herein contained, then this Mortgage shall be null and void and shall be released at the Mortgagor's expense. Section 1.4 The Mortgagor, for itself, its successors and assigns does hereby covenant and agree with the Mortgagee, its successors and assigns to pay the principal sum of money and interest as above specified; to pay all taxes and assessments now due or that may hereafter become liens against said premises at least ten days before penalty attaches thereto; to pay, when due, both principal and interest of all prior liens or encumbrances, if any, above mentioned, and to keep said premises free and clear of all other prior liens or encumbrances; to commit or permit no waste on said premises and to keep them in good repair; to complete forthwith any improvements which may hereafter be under course of construction thereon, and to pay any other expenses and attorney's fees incurred by said Mortgagee, its successors or assigns by reason of litigation with any third party for the protection of the lien of this Mortgage. CPrtinn 1 S In case of failure, to pay said taxes and assessments, prior liens or encumbrances, expenses and attorney's fees as above specified, or to insure said buildings and deliver the policies as provided for herein, the Mortgagee, its successors or assigns may pay such taxes, assessments, prior liens, expenses and attorney's fees and interest thereon, or effect such insurance, and the sum so paid shall bear interest at the highest rate permitted by law from the date of such payment and shall be impressed as an additional lien upon said premises and be immediately due and payable from the Mortgagor, its successors or assigns, to said Mortgagee, its successors or assigns and this Mortgage shall from the date thereof secure the repayment of such advances with interest. Section 1.6 Mortgagor covenants and agrees with Mortgagee, so long as any indebtedness hereby secured shall remain unpaid, to give to Mortgagee prompt notice in writing of any condition or event which constitutes an event of default, or which, after notice or lapse of time or both, would constitute such an event of default. Mortgagor shall maintain the existence of the corporation comprising Mortgagor named ST. PAUL'S LUTHERAN CHURCH. III