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4 <br /> <br />(a) Name and Address of Debtor: Legacy Christian Academy <br /> 3037 Bunker Lake Boulevard <br /> Andover, MN 55304 <br /> <br /> (b) Name and Address of <br />Secured Party: Falcon National Bank <br /> 1010 W. St. Germain Street, Ste. 150 <br /> St. Cloud, MN 56301 <br /> <br />(c) Description of the types of property covered by this Fixture Filing is <br />described herein <br /> <br />(d) The real estate to which such fixtures are or are to be attached is described <br />on Exhibit A attached hereto, the record owner of which is Debtor. <br /> <br /> 1. Statutory Covenants. Mortgagor makes and includes in this Mortgage the <br />Statutory Covenants and other provisions set forth in Minnesota Statutes Section 507.15 <br />and the Mortgagor covenants with the Mortgagee the following Statutory Covenants: <br /> <br /> (a) To warrant the title to the mortgaged premises, subject only to the <br />encumbrances listed on Exhibit B attached hereto ("Permitted Encumbrances"). <br /> <br /> (b) To pay the indebtedness as herein provided, provided that only those <br />obligated to repay the Note, whether as makers, guarantors, or otherwise shall be <br />obligated under this covenant. <br /> <br /> (c) To pay all taxes. <br /> <br /> (d) To keep all buildings insured against fire for an amount not less than <br />the full replacement cost but in any event not less than the unpaid amount of the <br />Note and by all prior mortgages (if any) and against other hazards for the amounts <br />specified by Mortgagee for the protection of the Mortgagee, including, but not <br />limited to, lightning, hazards under the usual extended coverage endorsement, and <br />all other hazards and risks of direct physical loss occasioned by any cause <br />whatsoever, subject only to the exceptions and exclusions, if any, agreed to by <br />Mortgagee. All such policies shall name Mortgagee as loss payee under the so- <br />called standard mortgage clause, contain no pro rata reduction provisions and <br />provide for not less than thirty (30) days notice to Mortgagee of the cancellation of <br />said policy. Mortgagor shall provide to Mortgagee not less often than annually, a <br />current certificate of insurance reflecting the insurance coverages required hereby. <br /> <br /> (e) That the mortgaged premises shall be kept in repair and no waste <br />shall be committed. <br />