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200605274 Section 2.3 SECURED OBLIGATIONS. Borrower's obligations for the payment of the Obligations and the performance of the Other Obligations shall be referred to collectively herein as the "Secured Obligations." Section 2.4 PAYMENT OF OBLIGA nONS. Borrower will pay the Secured Obligations at the time and in the manner provided in the Loan Agreement, the Note and this Security Instrument. Section 2.5 INCORPORATION BY REFERENCE. All the covenants, conditions and agreements contained in (a) the Loan Agreement, (b) the Note and (c) all and any of the other Loan Documents, are hereby made a part of this Security Instrument to the same extent and with the same force as if fully set forth herein. Article 3 - PROPERTY COVENANTS Borrower covenants and agrees that: Section 3.1 INSURANCE. Borrower shall obtain and maintain, or cause to be maintained, in full force and effect at all times insurance with respect to Borrower and the Property as required pursuant to the Loan Agreement. Section 3.2 TAXES. Borrower shall pay all Taxes assessed or imposed against the Property or any part thereof in accordance with the Loan Agreement. Section 3.3 LEASES. Borrower shall not enter into any Leases for all or any portion of the Property unless in accordance with the provisions of the Loan Agreement. Section 3.4 WARRANTY OF TITLE. Borrower has good, indefeasible, marketable and insurable fee simple title to the real property constituting part of the Property and good indefeasible and marketable title to the balance of the Property, free and clear of all Liens whatsoever except for the Permitted Encumbrances, such other Liens as are permitted pursuant to the Loan Documents and the Liens created by the Loan Documents. This Security Instrument, when properly recorded in the appropriate records, together with any Uniform Commercial Code financing statements required to be filed in connection therewith, will create (a) a valid, perfected first priority lien on the Property, subject only to Permitted Encumbrances and the Liens created by the Loan Documents and (b) perfected security interests in and to, and perfected collateral assignments of, all personalty (including the Leases), all in accordance with the terms thereof, in each case subject only to any applicable Permitted Encumbrances, such other Liens as are permitted pursuant to the Loan Documents and the Liens created by the Loan Documents. Borrower shall forever warrant, defend and preserve the title and the validity and priority of the Lien of this Security Instrument and shall forever warrant and defend the same to Lender against the claims of all Persons whomsoever. Section 3.5 PAYMENT FOR LABOR AND MA TERIALS. Borrow:er~will promptly pay when d~e all bills and costs for labor, materials, and specifically fabricated materials incurred in . cOllnectionwith the Property andmwer permit to exist beyond the due date thereof in respect of . .the Property or any part thereof any Lien or security interest, even though inferior to the Liens and the security interests hereof, and in any event never permit to be created otexistin respect of . the Property or any part thereof any other or additional Lien . or security.. interest. other than. the 6 Nebraska [TPW: NYLEGAL:505604.2] 20528-00030 05/131200602:00 PM