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20f0��512 the right to intervene or otherwise participate in any such actit�n ar proceedings, if an Event af Default shall have occurred. 4. Representations and Warranties. Martgagor hereby repres�nts, warrants and covenants with and to Martgagee that: (a) Mortgagor is a not-for-profit corporation duly organized, validly existing and in good standing under the laws of the State ii1 which the Premises is lacated. (b) Mortgagor has all requisite corporate power and authority to execute and deliver this Mort�age and the Note and to perform its obligations under this Mortgage and the Note and Martgagor has taken all necessary corporat� actiot� an its part to authorize the execution, deliv�ry and performance of this Mortgage and the Note. (c) This Mortgage and the Note have been duly executed and delivered by Mortgagor and constitut� the legal, valid and binding obli�ation of Mortgagor enforceabl� against Mort�agor in accordance with their respective terms. 5. Subordinatian. Mortgagee covenants with Martgagor that it shall, upan request in writing by Mortgagor, subordinate the lien of this Mortgage to subsequent martga�es which Mortgagor may need to execute for purposes af payin� for current improvements, rnaintenance, expansion of facilities, expansion af church programs and all other purposes. Mortgagor agrees ta perform all the obli�ations of any other mortgage which may become a lien on the Prernises. 6. Insurance and Taxes. At Mortgagor's expense, Mortgagor shall obtain and maintain in full force and effect with respect to th� Premises at all times during the continuance of this Mortgage "all risk" insurance against loss or damage in an amount equal to the full insurable value of the Pr�mises as well as general liability, property and worker's compensation insurance in such amaunts as reasonably determined by Mortgagor. All such insurance policies oar renewals thereof shall include a standard martga�e clause in favar of and in form acceptable to Mortgagee, which shall list Mortgagee as a lass payee. Mortgagor shall provide Mortgagee with a copy of said policies and all receipts of paid premiums. The policies of insurance shall provide for written notice to Mortgagee at least thirty (30) days prior ta any cancellation, modification or lapse thereof. In the event of loss, Mart�agor shall give prompt written notice to Mortgagee and Mortgagee may make proof of loss if not promptly made by Mortgagar. Martgagor shall pay real estate taxes, if any, arid assessments levied against the Pr�mises when such taxes and assessments become due. 7. Com liance with Laws. Martgagor shall comply with all statutes, regulations and rules which may be established by any legally constituted public authority with respect to the use, maintenance and care of the Premises. $. Event of Default. The occurrence of any ane af the following evencs shall constitute an event of default (an "Event of Default") hereunder: