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80_ ,..1 ;.,, BE` 105064
<br />Said promissory note was given to secure a loan in which the Small Business Administration, an agency of the
<br />United States of America, has participated. In compliance with section 101.1(d) of the Rules and Regulations of
<br />the Small Business Administration (13 C.F.R. 101.1(d) 1, this instrument is to be construed and enforced in accord -
<br />slave with applicable Federal law.
<br />1. The mortgagor covenants and agrees as follows:
<br />a. He will promptly pay the indebtedness evidenced by said promissory note at the times and in the
<br />manner therein provided.
<br />b. He will pay all taxes, assessments. water rata, and other governmental or municipal charges, fines, or
<br />impositions, for which provision has not been made hereinbefore, and will promptly deliver the official re6eipm
<br />therefor to the said mortgagee.
<br />c. He will pay such expenses and feet as may be incurred in the protection and maintenance of amid
<br />property, including the fees of any attorney employed by the mortgagee for the collection of any or all of
<br />the indebtedness hereby secured, or foreclosure by mortgagee's sale, or court procee+lings, or in anv other
<br />litigation or proceeding affecting said property. AttornevF foes reasonahh incurred in anv other wav shall he
<br />paid by the mortgagor.
<br />d. For better security of the indebtedness hereby secured, upon the request of the mortgagee its
<br />successors or assigns, he shall execute and deliver a supplemental mortgage or mortgages covering any
<br />additions, improvements, or betterments made to the property hereinabo\e described and all propen\
<br />acquired by it after the date hereof fall in form satisfactory to mortgagee;. F'urtVtrnnorr, should mortgagor
<br />fail to cure any default in the payment of a prior or inferior encimnbrartrr nu the proper[\ described by
<br />this instrument. mortgagor hereby agrees to hermit mortgagee to cure such default. but tortgagee is not
<br />obligated to do so. and such advancrs shall become part of the in lehtrtlucs- ecured by this instrument,
<br />subject to the same terms and conditions.
<br />r. The rights created by this conveyance shall remain in full force and rifest during ant poopourment
<br />or extension of the time of the payment of the indebitedne.. evidenced by said pmnrissary store or an\ fats;
<br />thereof secured herebv.
<br />f. He will continuously maintain hazard insurance, of such type or types and in such amounts as the
<br />mortgagee may from tittle to time require on the impro.emrnts now or hereafter tin saitl profwrt.. Anti
<br />will pal` promptly when due any premiums therefor. All insurance shall be carried in companies acceptable
<br />to mortgagee and the policies and renewals thereof shall be held by mortgagee and have attached thereto
<br />loss payable clauses in fay or of and in form acceptable to the mortgagee. In event of loss, mortgagor will give
<br />immediate notice in writing to mortgagee, and mortgagee may make proof of lass if not made promptly by
<br />mortgagor, and each insurance company concerned is I erehy authorized and directed to make payment for suck
<br />lam directly to mortgagee instead of to mortgagor and mortgagee jointly, and the insurance proceeds, or any
<br />part thereof, may be applied by mortgagee at its option either to the reduction of the iadebtednema herebv
<br />secured or to the restoration or repair of the property damaged or destroyed. In event of foreclosure of this
<br />mortgage, or other transfer of title to said property in extinguishment of the indebtedness secured hereby, all
<br />right, title, and interest of the mortgagor in and to any insurance policies then in force shall paw to the
<br />purchaser or mortgagee or, at the option of the nmrtg• gee. ran+ he aurrender -1 for a refund.
<br />lie will keep all buildings and other improtements on .aid proltrrt, it] _ood repair all condition:.
<br />\.ill permit, commit, or suffer no v.aatr_ impairment, deterioration of sal +i proper; \ or any pan thereof:
<br />in the event of failure of the mortgagor to keep the buildings oil .aid premtises and tho. -r erect +l on said
<br />premises, or impro+cresols thereon. in Bowl repair, the mancagre may stake ucb reltairs a= in it* discretion
<br />It Dray drat necessar% for the proper prrservation therm #: and the suit utietint of each ant# Paler\ .uric
<br />payment shall be imntediatety litre and pa) able. and shall Ile seeurrd b\ the lien of this morixa.P.
<br />t fi. ;lie will not voluntarily crepte.or perinit.ta he created against the property subject to this mortgage any
<br />lien or liens inferior or superior to the lien of this mortgage without the written content o f the mortgagee; and
<br />further, that fir will keep anti maintain slip .ante it" from the claim ,.1' all prrwns atspplrintt labor or
<br />materials for construction of anv_ and all buildings or improvements now being erected or to lie everted on,
<br />said premises.
<br />i. fir will not rent or a,aign and part of the rent of said mortgaged property or drnmlieh..,r rrow.e.
<br />or ,uhsiantially alter ally building without the written consent of the nwrtgager.
<br />I. Ali awards of damages in connection witb any condemnation for public trse of or injurer to ant of &I-
<br />property subject to this mortgage are hereby assigned and shall be paiil to mortgagee, who may tpply the
<br />same to pstinent of Fite installment$ last due under said note, still mortgarer is hertht authorizetf, to the
<br />nanw of the mortgagor, to execute and oleli +er valid acquittances thereof and to appeal from AM such agar +t_
<br />A. The oortgagee shall have the right to inspect the tortgaged premise- at ant rer,.,miable ism,•.
<br />t Default in any of the covenants or conditions of this instrument or of the note or loan agreement secured
<br />Item* shall terminate the mortgagors right to possession, use, and enjoyment of the property, at the option of the
<br />mortgagee or his maligns fit being agreed that the mortgagor shall have such right until default). Upon any such
<br />default. the mortgagee ehmlt become the owner of all of the rents and profits areming after default as serurtiv
<br />for the indebtedness secured hereby, with the right to enter upon said property for the purpose of collecting such
<br />rent* and profit. This onsirument rhail operate as an assignment of any rentals on said property to that rytent.
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