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<br /> 77- 00 � � �i "1
<br /> Said promissory note wao givea to �ecure a loan in which the Small Bu�inese Administration, an agency of the
<br /> � Unitad State� of Ametica, 6a� particip�ted. ln compliance with section 101 .1 ( d ) of the Rulea and Regulations ot
<br /> tkae Small Buainew Administration [ l3 C.F.R. 101 . l ld ) ] , thia inetrument ie to be construed and enforced in accord-
<br /> anoe wit6 applicable Federal Lw.
<br /> 1. The mortgagor �wvenants uad agrees u follows :
<br /> s. He wil! promptly pay the inde6tedaeM evideaced by �aid promiwory nou at t6e timm ead in the
<br /> mamer thereia provided.
<br /> b. He will pay �11 ta:e�, a�wsmeats, water rates, and other governmental or municiprl chargu. fim�, or
<br /> impwitioiu, (or which provision has not heea made hereinbefore, and will promptly deliver the o�cia! receipL
<br /> tberefor to the uid moR6agee.
<br /> c. He will pay �uch ezpen�es and fees w may be incurred in the protection aad mainteaaace oI �aid
<br /> prop�rty, including the fees af any attorney employed by ehe mortgagee for the collection of any or all of
<br /> the indebttdnew hereby xewred, or forecloeure by nwrt�eaKee'� eule, ur court proceedinKe, ur iu anr other
<br /> liti6ation or proccedinq aSectin{[ eaid property. Attornev� frer. reaaonablc incurred in am� other wyv ehall F►r
<br /> paid by the mortRaRor.
<br /> d. For better eecurity of the indebtedneue herehp eecured, upon the rrqur.xt of the mortgagee, ite
<br /> wcceesore or aeuigna, he ehall ezecute and deliver u aupplemental mortKrKe cir mortKaKee covering an�
<br /> edditione, improvemente, or bettermente made to the proprrty hrreinabo� e Jeeeribed and all propert �
<br /> acquired by it after the date hereof � ail in fotm eatie(actury tu n�ortgaKee i . Furt6rrmore, ehould mortKaKor
<br /> fail tu cure any default in tlie pa} mrnt of a prior or inFerior encumbrouce on the pruperty deavribed b}'
<br /> thie inetrument, mortRaRor hereby aRreee to permit mortgagee tu curr vuch default, but �nort�aµre ies not
<br /> obligated to do eo ; and euch advancea xhall become part of the indebtrdneH: wrrurr�� b� thiF inntrument ,
<br /> rubject to the same terme and conditione.
<br /> e. The right�r created by thix conveyance xhall remain in full forcr and efirct durinK an � puutpunru�rnt
<br /> or ezteneion of the time of the payment o( the iudehtedneed evidencnd M taid prorr� ixr.or} nute or anc parl
<br /> thereof secured hereby.
<br /> f. He will continuou�ly maintain ha:ard insurance, of wch type or type� and in aneh aa�ounts a� Lhe
<br /> mori�[aRee may frum time to time reyuire un � he impruvementK now ur I�rrea[trr un �ai�l E.roperl � , auJ
<br /> will pay promptly when due any promiums therefor. All inaurance ahall be carried in compaaia acetptable
<br /> to mortgagee and the policies and reaewals thereof ehall be held by mortgagee aad have attached thereW
<br /> loa� payable clau�ee ia favor of and in form acceptable to the mortgagee. In event of low, mortgagor will give
<br /> immediate notice in writing to mortgagee, and mortgagee may make proof of low if nat made promptly by
<br /> mortgagor, and each iwurance company concerned in hereby authoriaed and directed to mrke payment for �uc6
<br /> lor directly W mortaagee instead of to mortgagor and mortgagee joindy, and the insurance proceed�, or any
<br /> part theteot, may be applied by mortgagee at iu option either to the reductioa of the indebt�dnw hereby
<br /> secured or to the rertoration or repair of the property damaged or destroyed. In event of foroclosure of thiu
<br /> mortaage. or other tran�fer of title to said property in eztinguishment of the indebtedneu �ecured henby, all
<br /> righ4 title, aad interest of the mottgagor in aad to any ineurance policia then ia force rhall paw to the
<br /> purchaser ur moHgager ur, at thn option of the morlRaRre, ma� br surrrndrred Cur e reh�ud.
<br /> g. He will keep all buildinge and other improrementd on said pruprrl� in �;oud repuir and cundition :
<br /> will permit, commit, or euAer no waete, impairment, deterioration of e�aid propert � or an� part thereof :
<br /> ia d�e event o[ failurr of the mortgagor to Ieeep the bnildinge mi naid prrmieee and thoNe rrected on said
<br /> preminea, or improvementK thereon, in FooJ repair, the mortKagee tnay make auoh repaire aP in itR diecretion
<br /> it may deem necexaary for the proper preeervation thereof ; and the Eull amouM o( each and rvrn �aoh
<br /> paynae.nt ehall be immediately due and peyablr : and shall be Necured b} the lirn of �hi� mnrtRaRr.
<br /> 14. He will not voluaurily create or permit to be croated againet the property �ubject to this mortgage any
<br /> lien or lien� interior or euperior to the lim of thi� mortKage without the written consent of the mortgagee : and
<br /> furthrr, that hr wil! lceep and maintain the �ame free Iro�n tllr claiiu u( all NrrNonK �.upplyinK labor or
<br /> uialerials f�r eonsuuction of nay and all buildin�[e or impruvemrntx now FwinK rrrctrd or to FN' PIPOLPf� on
<br /> wid premi�es.
<br /> i . He will not rent or ae�siRn any prrt of the rrnt of eaid mortKuKrd proprrt � or drmoli�h , or rrmuvr,
<br /> or dubetanlially rller any buildinK withuut thr writtrn eunereri� of thr murtycaKer.
<br /> j. All award� ot dama�� in connection with any co�demnation fot public uee ol' ur injun tu au� ul � hr
<br /> property subject to thie mortqage are hereby aeeigned aad ehall be paid to mortKr�ee, who mar ■ppty thr
<br /> aame to pa� inrnt of ihe inatallmente laxt due under eaid nute, and mortRaKer is herrb�' authorized, in thr
<br /> namr of ihe tnortga6or, to esocute and deliver valid requittances thereof and to ap{w�ai (rom a�n' x�uh aw� rd .
<br /> k. The mortRaRee xhall have the riKht tu inepect �hr �uortKnKed preminr� at any rraeonrble timr. � �
<br /> L 2. Defwk it a� ef t6e oovea�nb or cowditiom of t6i� ia�trummt or of the note or lwn agreea►ent �ecurod i^ � Y
<br /> l�eteby �haU terasiaate tl�e moel,Ra�or's ri6ht te pw�erion, we, aad eajoyment of the property, at the option of tht
<br /> a►oetsasee or his auigas ( it bein�,r agreed tl�at the mortga�or �hall l+ave such right until de(ault ) . Upon any suc6 �.
<br /> ir(auk, tiv w�wtR�6wr ehall breo+n� the ownrr ef �1) oL t6e reats aed pro6ts aec�vinit after def�ult u �ecuritv
<br /> f�r thw in�iwbuwinrnr �nr� ti�rrby, with tl+w ris6t to ee�v�r upon �aid property tor the purpae of �•ollectiny[ �uch
<br /> roe4 and proSU. This iastrument �hall openee ar an a�ip�ment of my rontaL on said property to ehat exteat. ��
<br /> S �A F017M f2! (2.7l) �
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