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<br /> . .78-
<br /> U00275
<br /> Said pcomieaory note was Siven to eecurc a toun in which the Small Busineas Administration, an agency of the
<br /> fUnited States of rlmerica, haa. participated. In . compliance with aectiuq 101 .1 ( d ) of the Rulea and Regulationa of
<br /> the Smnll Bueineeb Adminietration [ 23 GF.R. 101.1 ( d ) j , thie inetzument ie to be conatrued nnd enforced in accord-
<br /> nnce with applicahle Federal law.,
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<br /> . F� . . . . : . � .� ... � , , . . . . �. � � . : . . . . ' . � . . . . , ,. . � . . � . �. .
<br /> 1. The mo�tgagor covenanta and agreee ae foilowe : ' : .. . : . . :
<br /> � . . . � . . . r. � . Y .. .. . . . .. . . . . . . . . .. � . . . . . � � . _ .. . � . .
<br /> a. He will promptly pay the indebt�dneee evidenced by eaid promiaeory iiote at the timee`and in the
<br /> F. :, , manaer thereia provided. , . . j :
<br /> . • � , b. He will pay all taxee, aeeeaementa, water ratee, and other governmentaiormunicipal charge.s, fines, or
<br /> impoeitione, for which provieiou hae not been made hereinbetoze, and will promptly deliver the of�cial receipta
<br /> - . ` therefor to the said mortgagee. '
<br /> c. He will pay euch expenees and f�ee ae may ba incurred in the proteetion and mnintenance of aaid
<br /> property, includiag the feee of any attorney employed by the mortgagee for the collection of any or all of
<br /> the indebtedneee hereby eecured, or forecloaure by mortgegee's sale, or court proceedings, or in any other
<br /> , - litigation or proceeding afLectin� eaid propertp. Attorneys' fees reasonably incurred in any other way ehall be
<br /> paid by the mortRaRor.
<br /> d. For better eecurity of the indebiedness hereby eecured, upon the requeeri of the mortgagee, ita
<br /> succeaeore or aeaigne, he ehall execute and deliver a aupplemental mortgage or mortgngea covering any
<br /> additioas, improvements, or betterments made to the property hereinabove described and all property
<br /> acquired by it after the date hereof (all in forni satisfnctor� io mort�agee ) _ Furthernioce, ehould mortgagor
<br /> fail to cure any default in the puyment oF a prior or inferior encumbrance on the property deecribed by
<br /> this inntrument, mortgagor hereby agrees to pezmit mortgagee to cure such default, but mortgagee is not
<br /> obligated to do so ; and euch advances 6hall become part of the indebtednecs eecured by this instrument,
<br /> eabject to the eame terme and conditione.
<br /> e. The righte created by thie conveyance ehall remain iu Iull Corce und efiect durin� unp poe[punenteu [
<br /> or ractenaion of tl�e time of the payment of the indebtednees evidenced by eairi promi.sory note or any part
<br /> thereof secured hereby.
<br /> j. He wili coa '.inuouely maintain hazard insurance, of euch type or types and in euch amounte aa the
<br /> � mortgagee may from time to time require on the improrements now ur hr.realter on K31lI � proyerty, :md
<br /> will pay promptly when due any premiums therefor. All ineurunce shall be carried in companies acceptable
<br /> to mortgagee aad the pc+2iciea and renewale thereof ehall be held by mortgagee and have attached thereto
<br /> loae payable claueee in favor of and in Corm acceptable to the mortgagee. In event ot lose, mortgagor wili give
<br /> immediate notice in writing to mortgagee, and mortgagee may make prooF of loea if not made prompQy by
<br /> mortgagor, and each insurance company concerned ia hereby authorized and dizected to make payment for euch
<br /> loea directly to morigngee inetead of to mortgagor and mortgagee jointly, and the inaurance proceede, or aay
<br /> part thereof, may be applied by mortgagee at iu option either to the reduction of the indebtedneea hereby
<br /> eecn:ed or to the 'reatoration or repnir of the pYoperty damaged or destroyed. Ia event of forecloeure of thie
<br /> mortgage, or other tranafer of tit]e to "eaid property in extinguishment of the indebtedness secured hereby, a11
<br /> right, title, and intereat of the mortgagor in and to any insurnnce policiea then in forca shall pasa to the
<br /> - purchaeer or mortgagee or, at die option of the niortgaRee, tnay be surrendered for a refiuid.
<br /> g. He will keep all buildinga and other improvemente on aaid property in good repair and conditioii ;
<br /> will permiq commit, or suffer no waste, impaizment, deterioration of said property or any part thereof;
<br /> in the event of failure of the mortgagor to keep the buildings on said premiees and thoae erected on eaici
<br /> premixs, or improvemente thereon, in good repair, the mortgagee may make aucli repairs as in itn diecretion
<br /> it may deem necessary for the proper preservation thereof; and the fu11 umount of eacli and every s�c9t
<br /> payment ehall be immediately due und payable ; and shall be eecured by the lien o( thi�s mortgaFe.
<br /> h. He will not voluntarilp create or p�rmit to be created againet the property eubject to thia mortgage any
<br /> lien or liens inferior or auperior to the lien of thie mortgage without the written coneent of the mortgagee ; and
<br /> Fnrther, that he will iceep and maintain the same free from tlte clai�n uf all pernons nupplying labor or
<br /> � materialaSor.conatruction oC any and all buildin�s or impro�emente now being erected or to be erected ou
<br /> . , eaid premisee. . , , . ..n ... . . � _ ,
<br /> ' i.�He� wili aot rent or aeeign ariy part of the rent of said mortgage�: pruperty or demolieh, or remuv"c,
<br /> or aubetantially alter any building without ihe written wnaent of the mort�a�ee.
<br /> �' �� � ' :•� • j, 'All awarde of damageein connection with any condemnation tor public uee of ur injury to any of tLe
<br /> property aubject to this mortgage are l�ereby �eeigned and shall be paid to mortRagee, who' may apply the t
<br /> eame to payment o[ the iaetallmente last due under said note, and mortgagee ia hereb�• authorized, in the '." ' � s
<br /> t ��< . name oE�the mortgagoc„to eacecute,and deliver valid acquittances thereof and to appcal from any such a��•erd. ` �" *� ;,
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<br /> � , k The mortqaRee�el�all have fhe riRht to inepect the mortRaged premineK At any reaeonable time. � � ¢
<br /> 2:;Default°in any of the covenanta or conditione of thie inatrument or oF the noce or ]oan agreement eecured +
<br /> here`by. ehaII terminate the mortgagor's right to poeaeaeion, ux, and enjoyment of the property. at the option of the , `�;,�
<br /> ' moitgagee os his aeeigns , (it;,being.dgreed that t1�e mortgagor ehall have auch right �uatil defnult ) . Upon any euch
<br /> � j:K�
<br /> default, ; the mortga ee ahall become the owner of x11 of the zenu and profits accruing afier default ae secnrity -- ~ :�
<br /> for the indebtednem eecured hereby. with the riRlat to mter , npon eaid property for the purpoee o[ collecting euch
<br />. ' "renta and profite. Thitl inetrnment eha]1 opera[e as dn aaeignmrnt of aay rentals on eaid property to that extent.
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