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r 83~'005938 same and the Mortgagee from time to time may, at its option, make future additional advances and readvances according to the terms of the Operating Note and renew or extend Note(s) evidencin~ outstanding indebtedness which shall be secured hereby; provided that the total principal amount of unpaid indebtedness secnredby this Mortgage shall not at anyone time exceed $1,750,000.00 plus any advances to protect the security, then these presents shall be void, otherwise to be and remain in fu~l force. Mortgagor further covenants and agrees, with Mortgagee, as follows: 1, Payment. To pay the indebtedness and the interest thereon as provided Ln this Mortgage and the Note(s). 2. Title. Mortgagor is the owner of the Property, has the right and author i ty to mortgage 1:he Property I and warrants that the lien created hereby is a first and prior lien on the Property, except that the Property is encumbered by a Mortgage(s) described in Exhibit "A," but not to any modification, extension, replacement or renewal thereof and only to the amounts from time to time remaining unpaid thereon. With respect to any existing mortgage(s), Mortgagor hereby represents, warrants, covenants and agrees with Mortgagee that this Mortgage is lawfully executed and delivered and such execution and delivery does not violate the existing mortgage(s); the mortgagor will pay, when due and payable, the interest and installments of principal under the mortgage(s); the mortgagor will perform and observe all of the terms, covenants, provisions and conditions required to be performed and observed by the Mortgagor of the existing mortgage(s); and the failure of the Mortgagor to observe and perform all provisions of this paragraph shall constitute an event of default hereunder and shall entitle the Mortgagee to all the rights and remedies provided in paragraph 8 hereof. 3. Taxes, Assess~ents. To pay when due all taxes, special assessments and all other charges against the Property. 4. Insurance. To keep the improvements now or hereafter located on the real estate described herein insured against damage by fire and such other hazards as Mortgagee may require, in amounts and companies acceptable to the Mortgagee, and with loss payable to the Mortgagee. In case of loss under such policies the Mortgagee is authorized to adjust, collect and compromise, in its discretion, all claims thereunder and at its sole option, is authorized to either apply the proceeds to the restoration of the Property or upon the indebtedness secured hereby, but payments hereunder shall continue until the sums secured hereby are paid in full. 5. Rer.air, Maintenance and Use. To promptly repair, restore or rebui d any buildings or improvements now or hereafter on the Property; to keep the Property in good condition and repair I without waste, and free from mechanic's or other liens not expressly subordinated to the lien hereof; not to make, suffer or permit any nuisance to exist, nor to diminish or impair the value of the Property by any act or omission to act; and to comply with all requirements of law with respect to the Property. L 6. Condemnation. In the event the Property, or any part thereof, shall be taken by eminent domain, the Mortgagee is empoWered to collect and receive all compensation which may be paid for any property taken or for damages to property not taken, and Mortgagee shall apply such compensation, at its option, eJ.ther to a reduction of the indebtedness secured hereby or to repair and restore the property so damaged. 1. PEl.rf9nn<lnce b)'Mortg~ee. Mortgagee may, but shall !)aVEi' no Obligation, to do any act; .ich the Mortgagor has agreed but fails to do, and Mortg/ilgee may also do any act it deems -"'-