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85-- 004244 Obligation and the performance of the covenants and agreements herein undertaken to be performed by First Party. First Party represents and warrants: (i) that First --arty is lawfully possessed of the Real Estate and the Property of any kind; (ii) First Party has good and lawful authority to convey and mortgage the Mortgaged Property, in the manner and form hereby conveyed and mortgaged; (iii) that First Party is organized and lawfully existing under the laws of the State of Nebraska; (iv) that First Party has corporate power and authority to execute the Agreement described in this Mortgage and Security Agreement, and the execution and delivery thereof by the officers or general partners of First Party who are executing and delivering the same have been duly authorized and that all acts and proceedings necessary or proper in the premises have been duly done, performed and taken; that such Agreement is valid and enforceable in all respects according to its terms and conditions. (1) First Party expressly covenants and agrees that: (a) First Party shall at all times, at the cost and expense of First Party, keep all of the Mortgaged Property of an insurable nature constantly insured against loss or damage by fire, lightning, explosion, tornado and windstorm, and such other risks as Second Party may reasonably request, in an amount equal to the full insurable value thereof, or equal to the unpaid indebtedness secured hereby, whichever is less, and such insurance shall also be in a sum equal to such percentage of the insurable value of the property insured as may be required to prevent First Party from being considered as co- insurer thereof, such insurance to be in companies satisfactory to Second Party, and all such policies of insurance shall be so written as to make any loss occurring thereunder payable, by standard mortgage clause attached thereto, to Second Party as its interest may appear, irrespective of, and which may not be invalidated by, any act or default of First Party, and all such policies, or a certificate or certificates of the insurers or of an insurance agency satisfactory to Second Party, showing that such policies, with such mortgage clauses, are in force, shall be deposited with Second Party as additional security hereunder; and First Party shall also maintain at the cost and expense of First Party such public liability and other insurance as Second Party may -3- 0431t W L_ �.1