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87. j-053V t -2- the terms, conditions or provisions of, or constitute a default under or result in or permit the creation or imposition of any charge or encumbrance upon any of the properties of the Mortgagor pursuant to any indenture, mortgage or other agreement or instrument to which the Mortgagor is a party or by which its properties are bound. 51.4. Governmental Filings. No approval, authorization or other action by, or filing with, any Federal, State, or local commission, board or agency, is required under existing law in connection with the execution and delivery by the Mortgagor of this Mortgage, except for the recording of this Mortgage and the filing of financing statements. 51.5. Validity; Etc., No Defaults. The Lease is a valid and subsisting lease of the property therein described and purported to be demised thereby for the term therein set forth and is in full force and effect in accordance with the terms thereof and has not been modified. To the best of Mortgagor's knowledge, there are no existing defaults (or existing matters which, with the giving of notice or the passage of time or both, would result in a default) by the Lessor. There are no existing defaults (or existing matters which, with the giving of notice or the passage of time or both, would result in a default) by the Mortgagor as Lessee, thereunder. The Mortgagor is the owner and holder of the Lease and of the leasehold estate created thereby. 51.6. No Subleases. There are no subleases of space in the building presently erected upon the premises demised under the Lease and constituting a portion of the Property, except those subleases which constitute Permitted Encumbrances. 52. Covenants of Mortgagor. The Mortgagor further covenants Ztth the Mortgagee as follows: 52.1. 'Payment of Secured Debt. The Mortgagor will punctually pay and give full performance with respect to the Secured Debt in accordance with their terms. 52.2. Rent, Taxes, Etc. The Mortgagor will pay or cause to be paid, when the same become due and payable by the Mortgagor pursuant to and to the extent required by the provisions of the Lease, (a) all rent, a R —J _ ..