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, ' , y .. 200604217 (e) all proceeds of any unearned premiums on any insurance policies covering the Proj ect, including, without limitation, the right to receive and apply the proceeds of any insurance, judgments, or settlements made in lieu thereof, for damage to the Project; (f) all utility deposits made to procure or maintain utility services to the Land or the Building and any money, cash, negotiable instruments, documents of title, securities, deposit accounts or other cash equivalents, including interest or income earned thereon held by the Paying Agent under or in accordance with this Mortgage or the Agreement; (g) the right, in the name and on behalf of Company, to appear in and defend any action or proceeding brought with respect to the Proj ect and to commence any action or proceeding to protect the interests of Issuer and Purchaser in the Project; (h) the products and proceeds of the property described in the above (b) through (g) inclusive. TO HAVE AND TO HOLD the Project, together with all and singular the tenements, hereditaments, appurtenances, rights, privileges, and immunities now or hereinafter in any way belonging or appertaining thereto as security for the payment, when due, ofthe hereinafter described Notes, including the Series 2006 Note, and any and all indebtedness, obligations or liabilities ofthe Company as described herein, including the indebtedness, liabilities, or obligations of the Company to the Issuer or the Purchaser under and in accordance with the Agreement, and the Company hereby binds itsel f, its successors and assigns to warrant and forever defend all and singular the Project unto the Issuer, its successors and assigns against all persons now or hereafter claiming the same or any part thereof. Concurrent with the execution and delivery of this Mortgage and the Series 2006 Note, the Issuer has issued One Million Seventy Five Thousand Dollars ($1,075,000) principal amount of its Revenue Refunding Bonds, Series 2006 (Grand Island Regency Retirement Project) (the "Series 2006 Bonds") under the Agreement. The sum of One Million Seventy Five Thousand Dollars ($1,075,000) loaned by the Issuer to the Company pursuant to the Agreement evidenced by the Series 2006 Note was provided by the Issuer from the proceeds of the Series 2006 Bonds. Substantially all of these proceeds are to be used to advance refund and redeem a prior issue of 3