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200204303 4Prtinn 1 _1 fl The Mortgagor shall provide the said Mortgagee with a full copy of its parochial and annual reports including the treasurer's reports and committee reports, within a reasonable time after the end of its fiscal year. The reports shall include information on the congregation's income and expenses and such other financial information as is available. Failure to provide such reports shall, at the option of the Mortgagee, constitute a default in this Mortgage. Section 1.11 Insurance The Mortgagor shall obtain, maintain and keep in full force and effect during the term of this Mortgage the following insurance: A. Against loss or damage by fire, lightning and other risks customarily covered by standard extended coverage endorsement, together with a vandalism and malicious mischief endorsement, all in such amounts as may from time to time be required by Mortgagee, but in no event in any amount less than the full replacement cost of the improvements now existing or hereafter erected or placed upon the premises, including the cost of debris removal, and of all property, and, in the event, in an amount not less than the unpaid principal balance secured by this Mortgage; B. Comprehensive general public liability insurance for a minimum amount of $3,000,000.00 against claims for bodily injury, death or property damage occurring in, on or about the demised premises. C. Flood insurance upon the Mortgaged Property in such form and amount as may from time to time be required by Mortgagee, if the Mortgaged Property is located in a designated flood plain area; D. Insurance upon the Mortgaged Property against such other casualties and contingencies as Mortgagee may from time to time require including, but not limited to, sprinkler insurance in amounts acceptable to Mortgagee, all in such manner and form as may be satisfactory to Mortgagee. All insurance shall be placed with a company or companies to be approved by said Mortgagee, and the policy or policies held by and payable to said Mortgagee, and in the event any sum of money becomes payable under such policy or policies, the Mortgagee shall have the option to receive and apply the same on account of the indebtedness hereby secured or to permit the Mortgagor to receive and use it, or any part thereof, for other purposes, without thereby waiving or impairing any equity lien or right under or by virtue of this Mortgage, and may place and pay for such insurance or any part thereof, without waiving or affecting the option to foreclose or any right hereunder, and each and every such payment shall bear interest at the Note rate of interest. VA