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<br /> $aid promiesory note was given to aecare a loan in which the Small Busineas Administration, an agency of the
<br /> United States of America, has "pAzticipated: . In compliance with aection 101 .l ( d ) ot ;he Rules and Regulatione of
<br /> I the Small Busineas Administration [ 13 C.F. R. 101 .1 ( d ) � , this inatrument ie to be conetrued and enfor6ed in accord-
<br /> ance with applicable Federal law.
<br /> L The mortgagor covenante and agrees ae followe :
<br /> `' a. 'He will promptly pay the indebtednesd evidenced by said promiasory note at the times and in the
<br /> manner therein provided.
<br /> b. He will pay all taxee, asseeemente, water ratea, and other governmental ormunicipal chargea, fines, or
<br /> � impoeitione, for which provieion has not been mede hereinbefore, and will pzomptly deliver t6e o9icial receipte
<br /> therefor`to the eaid mortgagee.
<br /> c. He will pay auch expenacs and fees ae may be incurred in the protection and maintenance of said
<br /> property, ' including tl�e fees of any attorney employed by the mortgagee for the coliection of any or all of
<br /> the indebtedneae herehy secured, or foreeloaure by morxgRgee's sale, or court proceedings, or in any other
<br /> liflgation or proceeding affectin� eaid property. Attnrneys' fees reasonablq incurred in anv other way shall he
<br /> paid by the mort�aRon
<br /> d. For better security of the indebteduese hereby secured, upon the request of the mortgagee, its
<br /> succesaora or assigns, he ehall execute and deliver a eupplemental mortga�e or mortga �es covering any
<br /> additiona, improve�nents, or bettennenta made to the property hereinabove described and all property
<br /> acquired by it after the date hereof ( all in form aatisfactory to mortgagee ) . Furthermore, ehould mort�a�or
<br /> fail to cure nny default in the payfnent of a prior or i �ferior encumbrance on the property described by
<br /> this instrmnent, mortgagor hereby agrees to permit mortgagee to cure such default, but mortgagee is not
<br /> obligated to do so ; and euch advancea ehal] become part of the indebtednr.e� aecured by thiR inrtrument,
<br /> nubject to the same terms and conditions.
<br /> e. The righta created by this conveyance ahali remain in full force and etTect duriug an }- pontpuuement
<br /> or extension of the time of the payment of the indebtednese evidenced by seid promiw:ory uote or any part
<br /> thereof secured hereby.
<br /> f. He will coatinuouely maintain hazard ineurance, of such type or types and in such amounte ae dse
<br /> mortgagee may from time t� time require ou the improvements noy' or hr.reafter on � air1 }�ropert ��, :+ nJ
<br /> will pay promptly when "due any premiume therefor. All insurance ehall be carried in companiea acceptabte
<br /> to mortgagee aad , the . policies and ` renewals thereof ehall be held by mort&agee 'and have attached thereto '
<br /> �; loes payable clauses in favor of and in form acceptable to the mortgagee. In event of loss, mortgagorwill give
<br /> � s; - imraediate nopce in writing to mortgagee, and mortgagee may make proof of loas if not made prompdy by
<br /> mortgagor, nnd each ineurance com
<br /> pany concerned is hereby aut�horized und directed to make payment�4'or euch
<br /> loes dizectly to mortgagee inatead of to mortg�gor and mortgagee 'jointly, and the ineurance proceeda, or any
<br /> part thereof, may be appiied by mortgagee at ite option either to the reduction of the indebtednees hereby
<br /> secured or to the reatoration or repair of; She property Jamaged or deatroyed. In event of forecloeure 'of thie
<br /> � mortQage, or othei transfer of title. to eaid. property � in extinguiehment �of �tha indebtedness secured hereby, all . .
<br /> � righy title, and in[ereet of the mortgagor in and lo any insurance policies then in force shall paes`to the
<br /> purchaeer ur mortgagee or, at the option of the n�ortga�ee, mav be surrendered for a refuud .
<br /> g. He .will keep all buildinge and other improvert�ents ou naid property in good repair and conditioii ;
<br /> ` ; will peimit, commit, or' su8er no waste, ' impairment, deterioratiotl of saitl property or any ; part ,thezeof ;
<br /> in the event of failure of the mortgagor to keep the buildings ' ou eaid premiaes and tbo�e erected on said y
<br /> premises; or improvemente thereon, in� good . repair, tl�e mortgagee inay make such repaire ae, in its discretion
<br /> '. it may deem neceasary for the proper ' preaervation thereof ; and , the full umount of each and everyi such
<br /> payment ahull be immediately due 'and payable ; and shull be secured by the lien of thiw �nortza�e.
<br /> h. He will not voluntarily creute or permit to be created againat the property eubject to thie morEgage any
<br /> , s .
<br /> lien or liene inferior or superior to the lien of thie mortgage without the wriiten consent bf the mortgagee ; and
<br /> lurtlier, Shat he will �ceep and maintain the aame free frmn tl�e claini uf a11 Ner�suns aupplying labur or
<br /> muteriale for conatruction of any and all buildinga or improvements now beinK erected or to }re erected ou
<br /> eaid premiees.
<br /> r i . He will not rent or aeseign an}' part of the reut oC euid mortgaged property or demolinh , or remove,
<br /> or eubstantially alter any buildinQ without the written consent of the mort �a �zee .
<br /> j. All awarde of damugee in connection with anv condemnation Ior public uae uf or injur � tu any of tt�e
<br /> property subjecl to thie mortgage are 3iereby aseigned aud shall be paid to mort �agre, Who may� aprly the
<br /> eame to puy�nent of the inetallmenta last due under said note, and mort�agee ie hereb� authorized, in the
<br /> ! name of the mortgagor, to execnterand deIiver valid acquittancee thereof and to appeal from any euch a�varJ .
<br /> k. Tl�e ntortRa �;ee sltall have the riuht to inepecl the mortga�ed premiee� at any reaFonable time.
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<br /> ; 2. . Defaalt in any of the covenante or condicione of thie inetrument oz of the note or loan agreement secured -
<br /> hereby shall terminate the mortgagor's right to poeseseion, uee, und enjoyment of the property, at the option of t2�e � , >
<br /> c+ --
<br /> L; mortgagee or his aesigna ( it being agreed that the mortgagor shall have such right unzil default ) . Upon any such , 1�
<br /> defaalt, the mortgagee ehall become the owner of aII `of the " renta and profite accruing after default ae security
<br /> for the indebtedness secured hereby, with the rieht to entPr upon said property for the purpoee of collecting euch
<br />� rents and profizs. This instrument ahall operate as an aeeignmenLof any rentals on eaid property to t6at extent.
<br /> � 56A FORM 928 ( 2-73 � �
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