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improvements now or hereafter erected on the Land in good repair and condition, ordinary
<br />depreciation excepted. Mortgagor will not commit or permit waste, will not alter the design or
<br />structural character of any building now or hereafter erected on the Land without the prior written
<br />consent of Mortgagee, will not do any act or thing that would unduly impair or depreciate the
<br />value of the Mortgaged Property, and will not abandon the Mortgaged Property. In the event of
<br />the failure of Mortgagor to keep the buildings or other improvements in good repair, Mortgagee
<br />may make such repairs at Mortgagor's expense as in Mortgagee's discretion it may deem
<br />necessary for the proper preservation thereof, and any sums paid for such repairs shall bear
<br />interest from the date of payment at the rate specified in the Note, shall be due and payable on
<br />demand, and shall be fully secured by this Mortgage. Mortgagor will not remove from the Land
<br />any fixtures or personal property included in the Mortgaged Property unless the same is
<br />immediately replaced with like property, subject to the lien and security interest of this Mortgage,
<br />of at least equal value and utility. Mortgagor will comply with all present and future laws,
<br />ordinances, regulations, and requirements of any governmental body applicable to the Mortgaged
<br />Property and to the occupancy and operation thereof, including without limitation, all applicable
<br />provisions of Minn. Stat. § 504B.178 with respect to-any security deposits received by it, and all
<br />covenants required of it by the provisions of Minn. Stat. § 504B.161, subd. 1.
<br />4. MORTGAGOR'S DUTY TO PAY TAXES. Mortgagor shall pay, before a fine or
<br />penalty might attach for nonpayment thereof, all taxes, assessments and all other charges
<br />whatsoever levied upon or assessed, placed or made against the Mortgaged Property. Mortgagor
<br />shall, upon written request by Mortgagee, promptly deliver to Mortgagee any receipts for the
<br />payment of such charges; provided, however, that Mortgagor need not pay any such taxes,
<br />assessments or other charges so long as Mortgagor shall in good faith contest such taxes,
<br />assessments or other charges by appropriate legal proceedings effective to prevent the
<br />enforcement of any lien created by such failure to pay, and to prevent the loss of any of the
<br />Mortgaged Property. Mortgagor likewise will pay all taxes, assessments, and other charges,
<br />levied upon or assessed, placed or made against, or measured by, this Mortgage, or the
<br />recordation hereof, or the Indebtedness secured hereby.
<br />5. MORTGAGOR'S DUTY TO PAY UTILITIES. Mortgagor will pay all charges
<br />made by utility companies, public or private, for electricity, gas, heat, water, or sewer, furnished
<br />to or used in connection with the Mortgaged Property or any part thereof, and upon written
<br />request by Mortgagee, will promptly deliver to Mortgagee receipts for the payment of such
<br />charges; provided, however, that Mortgagor need not pay any such charges so long as Mortgagor
<br />Development Name, City
<br />LMIR-Combination Mortgage, Security Agreement
<br />and Fixture Financing Statement
<br />Dev. #
<br />4 Date
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