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<br /> 77. t � 07 � 68
<br /> Said pramusory note was givea to �ecur� a loan in which the Small Bu�ine�s Administratio�, an agency of the
<br /> � United Stata of America, !ws participated. In compliance with �ection 101 .1 ( d ) of the Rulcr and Regulation� ot
<br /> the Small Buune�s Administratioa [ 13 f..F.R. 101 . 11 d ) ] , thie inetrument ir to be constru�d and enforced in sccord-
<br /> +unoe with applicable Federal law.
<br /> 1. T'6e a�ortgago� �wvenanu and sge�ea� as follow� :
<br /> s. He will promptly pay the indebtednas evidenced by said prnmiswry note at the time� and in ehe
<br /> mamer therein pmvided.
<br /> b. He will pay all uzes, are�s�neau, waur rates, and other governmental or municipal char6w. fine�, or
<br /> impo�itiaw, tor whieh provi�ion ha� not beea made hereinbetore, and will promptly deliver the o8'ieial receipu
<br /> theretor to tl�e said mortgaaee.
<br /> c. He will pay �uch e�penser and feu u may be incurred in the protection and maintenanoe of uid
<br /> property, including the [eea of aay attorney emptoyed by the mortgaqee for the collection of any or a!1 0[
<br /> t6e indebtedne�s hereby eecured, or foreclwure by mortRa�eee'd enle, or cuurt pruceedinKs, or in any other
<br /> Gtigation or proceeding affectinQ eaid propertr . Attornevei feee mxeonabh incurred in anv other wav shall F�e
<br /> paid by the mortRaRor.
<br /> d. For better eecurity of the indebtedneee hereby e�ecured, upun the rryueNt uf the mortgagee, ite
<br /> succ�ors or aseiRne, he ehall execute and deliver a eupplemental mortKaKr or mortKaRee covering an}
<br /> udditione, improvemente, or bettermente made to the proprrty hrrrinabo� e deeuribed and all properh
<br /> acquirrd by it after the date hereof i all in form eatiefactury tu roortgagee i . F urthrrmorr, whould mort�aKor
<br /> (ail to cure atn- default in the pa� ment uf a prior or inferior rncumbrauce on thr, property de�cribeJ by
<br /> thie inetrument, mort�aRor hereby aqreea to permit mortRagee to cure ruc•h drfault, but mortKaRee ie not
<br /> obligated to do ao ; and euch elvancee xhall brcome part of the in�lebtrdnP�� wr.•ure�1 hq thi� in�trumen�,
<br /> wbject to the same terme and conditiono.
<br /> r. 7'he rights created by this conveyance eha11 remain in [ull torcr and eHect durinK au} Nwlpunrmrnl
<br /> or eztenaion of the time of thr payment of the inJebtednew� evidrnced h} waid promiw�x� uute or anc part
<br /> thereofeecured hereby.
<br /> j. He will coatinuou�ly maintain ha:ard 'uuurance, of such type or typa aad in �uch amounts a� the
<br /> mort�agee may Irom time to time require on the improvetnen�a now ur hrrraftrr on �ai�l proprrl � , and
<br /> will pay promptly when due any premiums there[or. All in�urance ahall be carried in companie� aoeept+ble
<br /> w mortgagee and the policie� and renewals thereof ohall be held by mortgagee aad have atuched thereto
<br /> Iw� payable clatues in Cavor of and ia form acceptable to the mortgagee. In event of lo�s, mortg�gor will give
<br /> imm�diate notice in writing to mortgagee, and mortgagce aaay make proof o[ loss if not msde promptly by
<br /> moetaagor, and eaeh in�urance company eoncerned is hereby authorised aad directed to maice payment for we6
<br /> la�s diroctly to mortaagee inatead of to mortgagor and mort�agee jointly, rnd the iarurance prooeeda, or auy
<br /> psrt thereot, may be applied by mortgagee at iU option either to the reduction of the ind�btedner 6enby
<br /> �eeur�ed or to the rertoration or repair of the property damaged or destroyed. In �vent o[ foteclosune of thu
<br /> mort��ge, or other tramfer of title to said property in extinguishment of the indebsednew recured 6ee�eby, all
<br /> rig6� title, aad intereat of the mortgagor ia and to any in�urance policia then in force shall par to the
<br /> purcl+a�er or mortgagcr or, at tLe option of the mort�eaRre, ina� k►r surrrnderrd (ur a refuu��.
<br /> �. He will koep aA buildiags and other impruvementN on said proprrt� iu µ�wd repair and conditiou :
<br /> will permit, commit, or euBer no waete, impairment, deterioration of �aid proprrty or an� part thereof :
<br /> in the event o[ failure of the mortgngor to keep the buildin�e un uaid premiee� and tho�e erected on said
<br /> premieee, or impruvementn thereon, in Rood repaiq the mortgagee may' makr auc6 repeir� ar in its diacretion
<br /> it may deem neceerar}• for the proper preservation thereof : and the (ull amuunt uf erch and evrry �uch
<br /> paymr,nt xha11 be immediately due and payeble : and shall be secured bc the lien of thi� mortKaKe.
<br /> la. He will not voluntarily create or permit to be creatrd again�t the property �ubject to thu moet�aae my
<br /> lien or lien� inferior or superior to the lien of thi� mortgage without the written con�ent of the mortaagee ; md
<br /> furt6er, th�t 6e will keep and mrintain the e�amr (ree from thr cleiw uf all �rrrNuuN eupphin{[ lakwr or
<br /> materials tor construction of aay and rll buildin�e or impmvemrnw now heinK rre�ctrd or to be �rected ou
<br /> wid premiaer.
<br /> e . He will not reat ur axsiRn any prrt of the rent oC eaid murt�[alCed pruyrr� � or drmolixh, or rr�nure,
<br /> or eubntantially alter anc buildinR without the written roneent o( the mortKaKer.
<br /> /. All awartL of damage+ ia comoctiun with any cun�ca►nrtiou fur Nublic u.r u( �r iujur � w au� u( tl��
<br /> proprrty eubject to thi. mortRage are hereby a�rigned and rhell be pri8 tu murtKaKce, who mr) apply thr.
<br /> wame to payment of the instaliments laxt due under said note, and murtguKee i� hereb�� aut6orised, in thr
<br /> oamr of the mort�aEor, to ezecute and deliver valid acquittances thereof and ro rppral from r�n} xueh awud.
<br /> k. The mortRaRee xl�all have th� riRht to indpeM the moHKrKeA premi«r� at eny reax�r��rblr timr.
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<br /> 2. Drtarlt i� aey of t6e oowesant� or emdition� af this ia�tru�nent or of the note or loan agreemeet �ecured }'. �, ,
<br /> Ll�eroby �all tenninata tLe mortgagor's right to powerioe, we, md enjoyaaeat o[ tl�e pmpetty. �t the optioa of t6e *, ��,
<br /> wortaa6ee or his a�siaes ( it bein� aqreed t6at t6e moKgagor ahall have �uch ri�t until def�ult ) - Upon aey wch �"'
<br /> i�twk, the mort�s�e+e �hall become the oweer s� di s[ ti� t�eau aed pw6te acenain�t after de[ault o aecurity
<br /> ter the iad�btedner seeured hcreby, with d►e ri�t to eo�wr rip00 Nld �/foptriy �or tl+e purpo�e o( colleet►n� �uch
<br /> reaq and pro6ts. This in�trument �hall operaee � u �est ef anr re�staL on uid preperty to that exteat. m_
<br /> SBA FORM Y2B (2-� 91 �
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