the Mortgagor, all of which shall become subject to
the lien of this Mortgage as fully and completely, and with the same effect, as
though now owned by the Mortgagor and specifically described herein.
TO HAVE AND TO HOLD the Mortgaged Property unto the Mortgagee, its successors
and assigns, for the ratable benefit of the Secured Parties, forever, subject
only to Liens (as defined in the Credit Agreement), expressly permitted under
Section 6.02 of the Credit Agreement and to satisfaction and release as provided
in Section 3.04.
5
ARTICLE I
REPRESENTATIONS, WARRANTIES AND COVENANTS OF MORTGAGOR
Mortgagor agrees, covenants, represents and/or warrants as follows:
SECTION 1.01.
TITLE, MORTGAGE LIEN.
MORTGAGOR HAS GOOD AND MARKETABLE FEE
SIMPLE TITLE TO THE MORTGAGED PROPERTY, SUBJECT ONLY TO LIENS EXPRESSLY
PERMITTED UNDER SECTION 6.02 OF THE CREDIT AGREEMENT.
MORTGAGOR WILL FOREVER
WARRANT AND DEFEND ITS TITLE TO THE MORTGAGED PROPERTY, THE RIGHTS OF MORTGAGEE
THEREIN UNDER THIS MORTGAGE AND THE VALIDITY AND PRIORITY OF THE LIEN OF THIS
MORTGAGE THEREON AGAINST THE CLAIMS OF ALL PERSONS AND PARTIES EXCEPT THOSE
HAVING RIGHTS UNDER LIENS EXPRESSLY PERMITTED UNDER SECTION 6.02 OF THE CREDIT
AGREEMENT (BUT TO THE EXTENT OF THOSE RIGHTS).
SECTION 1.02.
CREDIT AGREEMENT.
THIS MORTGAGE IS GIVEN PURSUANT TO THE CREDIT
AGREEMENT.
MORTGAGOR EXPRESSLY COVENANTS AND AGREES TO PAY WHEN DUE, AND TO
TIMELY PERFORM, AND TO CAUSE THE OTHER LOAN PARTIES TO PAY WHEN DUE, AND TO
TIMELY PERFORM, THE SECURED OBLIGATIONS IN ACCORDANCE WITH THE TERMS OF THE LOAN
DOCUMENTS.
SECTION 1.03.
MAINTENANCE OF MORTGAGED PROPERTY.
MORTGAGOR WILL MAINTAIN THE
IMPROVEMENTS AND THE PERSONAL PROPERTY IN THE MANNER REQUIRED BY THE CREDIT
AGREEMENT.
SECTION 1.04.
INSURANCE.
MORTGAGOR WILL KEEP OR CAUSE TO BE KEPT THE
IMPROVEMENTS AND PERSONAL PROPERTY INSURED AGAINST SUCH RISKS, AND IN THE
MANNER, PURSUANT TO THE CREDIT AGREEMENT OR THE SECURITY AGREEMENT AND SHALL
PURCHASE SUCH ADDITIONAL INSURANCE AS MAY BE REQUIRED FROM TIME TO TIME PURSUANT
TO THE CREDIT AGREEMENT AND THE SECURITY AGREEMENT.
FEDERAL EMERGENCY
MANAGEMENT AGENCY STANDARD FLOOD HAZARD DETERMINATION FORMS WILL BE PURCHASED BY
MORTGAGOR FOR EACH MORTGAGED PROPERTY ON WHICH IMPROVEMENTS ARE LOCATED.
IF ANY
PORTION OF IMPROVEMENTS CONSTITUTING PART OF THE MORTGAGED PROPERTY IS LOCATED
IN AN AREA IDENTIFIED AS A SPECIAL FLOOD HAZARD AREA BY FEDERAL EMERGENCY
MANAGEMENT AGENCY OR OTHER APPLICABLE AGENCY, MORTGAGOR WILL PURCHASE FLOOD
INSURANCE IN AN AMOUNT REASONABLY SATISFACTORY TO MORTGAGEE, BUT IN NO EVENT
LESS THAN THE MAXIMUM LIMIT OF COVERAGE AVAILABLE UNDER THE NATIONAL FLOOD
INSURANCE ACT OF 1968, AS AMENDED.
SECTION 1.05.
CASUALTY CONDEMNATION/EMINENT DOMAIN.
MORTGAGOR SHALL GIVE
MORTGAGEE PROMPT WRITTEN NOTICE OF ANY CASUALTY OR OTHER DAMAGE TO THE MORTGAGED
PROPERTY OR ANY PROCEEDING FOR THE TAKING OF THE MORTGAGED PROPERTY OR ANY
PORTION THEREOF OR INTEREST THEREIN UNDER POWER OF EMINENT DOMAIN OR BY
CONDEMNATION OR ANY SIMILAR PROCEEDING IN ACCORDANCE WITH, AND TO THE EXTENT
REQUIRED BY, THE CREDIT AGREEMENT.
ANY NET PROCEEDS RECEIVED BY OR ON BEHALF OF
THE MORTGAGOR IN RESPECT OF ANY SUCH CASUALTY, DAMAGE OR