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*tortgagor covenants with Mortgagee and it's successors in interest rohat: (i) Mortgagor holds title to the Property in fee simple and`has lawful authority to mortgage the same, (ii)> the property is free of liens and en- cumbrances excepfi as stated above, and (iii) Mortgagor will defend the nropert}~ against the lawful claims of any person or entity., 1. PAYMENTS; Mortgagor shall promptly.'make all payments required under the Note and any other instrument securing the Note. -2. TAXES. Mortgagor shall ,pay each installment of-all taxes and special assessments. of every kind, nvw or hereafter levied and assessed against the property or any .part thereof, before same. become delinquent, without notice or demand and shall provide Mortgagee. with evidence of the payment of-same. Mortgagor shall pay all assessments which mae be levied upon Mortgagee's .interest herein or upon the Mortgage or the debt secured hereby"without regard to-any law that-may be enacted imposing payment of the whole or any part thereof upon the Mortgagee. 3. 'INSURANCE AND REPAIRSt Mortgagorshall'maintain fire and extended coverage .insurance ir_suring the. improvements 'and buildings constituting par[ of the Property for,an amount equal to-the actual cash value of such improvements, exclusive>pf foundations.,. but 3n no event for any amount less than the amount of the unpaid principal balance of the Note .r Such insurance policies. shall eontain a standard mortgage clause in €avor of Mortgageee and shall not be cancellable, terminable or modifiable without ten (10) day written notice to Mortgagee. Mortgagor shall promptly repair, maintain and replace the Property or any part thereof so that, except for ordinary near and tear, the Property shall not deteriorate. In no event shall the Mortgagor commit waste on or to the Property..' 2. ___.l l___.