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85- 004553 <br />"Trustee" shall include singular and plural, regardless of <br />gender. All other terms used herein which are defined in <br />the Agreement shall have the same meanings when used herein <br />as assigned them in the Agreement unless the context other- <br />wise requires. <br />Section 2. Title to the Project and the Status of <br />the Lien of this Mortgage. <br />(a) The Borrower is lawfully seized of the fee <br />simple title in and to the Land and the Borrower has a <br />good right to grant and convey the same; the lien of <br />this Mortgage is a first, prior and superior lien and <br />encumbrance on the Land, subject only to Permitted <br />Encumbrances as defined in the Agreement, and the <br />Borrower hereby warrants and will defend fee simple <br />title thereto against the lawful claims of all persons, <br />subject.only to such Permitted Encumbrances. <br />(b) The Borrower will be lawfully seized of the <br />fee simple title to the entire Project upon its comple- <br />tion pursuant to the terms of the Agreement and the <br />Borrower shall have a good right to grant and convey <br />the same; upon the completion of the Project, this <br />Mortgage shall be a first, prior and superior lien and <br />encumbrance on the entire Project, subject only to <br />Permitted Encumbrances as defined in the Agreement, and <br />the Borrower hereby warrants and will defend fee simple <br />title thereto against the lawful claims of all persons. <br />Section 3. The Notes. The Borrower agrees to pay <br />the Notes with all interest thereon in accordance with their <br />terms and to pay all sums the failure to pay which may <br />result in the acquisition of a lien prior to the lien of <br />this Mortgage before such a prior lien may attach. <br />Section 4. Taxes and Assessments. The Borrower <br />agrees to pay: <br />(a) Before delinquent, all taxes and assessments <br />of every type or nature affecting the Project; <br />(b) All other charges and encumbrances which may <br />now or hereafter be or appear to be a lien prior to the <br />lien of this Mortgage; <br />(c) All taxes upon this Mortgage or on the inter- <br />est of the Issuer or the Trustee herein, or upon the <br />Agreement or the Notes or debt secured hereby; pro - <br />vided, however, that the total amount so paid for any <br />taxes pursuant to this subparagraph (c), together with <br />the interest payable on said indebtedness, shall not <br />exceed the highest lawful rate of interest in Nebraska. <br />-5- <br />L <br />