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~-~ "' ~ ~7~~.~~O.fJO. dateC+ Ao-i1 9, 197°,~ an,i rvr rria:! a o.,+ ni., o9_Pti19=7 (the "Senior Encumbzance"). The Mortgagor represents, warrants, cov- enants, and agzees that: (a) Mortgagor will promptly pay when due and payable the installments of interest and principal and other such sums and charges mentioned in and made payable under the Senior Encumbrance; (b) Moztgagor will promptly perform and observe all of the terms, covenants, and conditions required to be performe3 and observed by Mortgagor under the Senior Encumbrance within the periods provided in the Senior Encumbrance, and will do all things necessary to preserve and keep the Senior Encumbrance free from default; (c) Mortgagor will furnish to American promptly after receipt copies of all notices, demands or other statements given to Mortgagor by the holder of any Senior Encumbrance; (d) Mortgagor will furnish to American, upon demand, proof of payment of all items which are required to be paid by Mortgagor gursuant to the Senior Encumbrance, and groof of payment of which is required to be given to the holder .of any indebtedness secured by the Senior Encumbrance; and (e) Mortgagor will not permit any liens of any kind to accrue or remain on the Property which might take precedence over the lien of this Mortgage except the Senior Encumbrance. The generality of the provisions of this Paragraph relating to the Senior Encumbrance shall not be limited by other provisions of this Mortgage setting forth particular obligations of the Mortgagor which are also required of the Mortgagor under the Senior Encumbrance. 4. Should any default occur in the payment of any installment of principal or interest on, or any other amount required to be paid under the Senior Encumbrance, and s„gold any such a,-nount remain unpaid for 15 days from the date when due (or for any longer grace period expressly provided in the Senior Encumbrance), or should any action be commenced to foreclose tip Senior Erc:nabranee: then aZl or part of the amount of the Obligation secured by this Mortgage shall become due and payable at any time thereafter at the option of American. Should any default be made in the payment of any install- ment of principal or interest or of any other amount required to be paid under the Senior Encumbrance, or if Mortgagor should fail to perform any requirements under the Senioz Enceanbrance, American may at its option pay or perform the same, and all sums hereafter advanced by P.raerican for such payments or for expenses incurred in such performance, together with interest at the default rate set forth in the Mote from the time such payment was made or expense incurred, shall be payable by the Mortgagor to American on demand and shall be added to the Obligation and deemed to be secured by this Mortgage, and such amount may be collected under this Mortgage. 5. Mortgagor shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, haz- ards included within the term "extended coverage," rent loss and such other hazards, casualties, liabilities, and contingencies with insur- ance carriezs approved by American. Such insurance shall be main- tained in the amount of at least 80 percent of the insurable value of such- improvements and for such periods as American shall require. All insurance policies and renewals of such policies shall be in form reasonably acceptable to American and shall include a standard martgagee's clause in favor of and in form reasonably acceptable to American. At least 15 days prior to the expiration date of the poli- cies, Mortgagor shall deliver to American renewal policies acceptable to American, and Mortgagor shall promptly furnish to American all receipts of premiums relating to such policies. In the event of loss, Mortgagor shall give immediate written notice to the insurance -2-