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UU1322
<br />Saud :Promneory note was given to secure a loan in which the Small Business Administration, an agency of the
<br />United State of Amer'", has Paftkipated. In compliance with section 101.1(d) of the Rules and Regulations of
<br />the Snaall Business Administration [13 C.F.R. 101.1(d) 1, this instrument is to be construed and enforced in accord•
<br />an" with aPPliaable Federal law.
<br />1. The mortgagor --ant. and agrees as follows:
<br />- He will Promptly pay the indebtedness evidenced by said promissory note at the time and in the
<br />gunner therein provided.
<br />b He will pay al! taxer, asresamcnts, water rates, and other governmental or municipal charges, finest, or
<br />impnitions, for which provision has not been made hereinbefore, and will promptly deliver the official receluts
<br />therefor to the said mortgagee,
<br />c• He will pay such expenses and fees me may be incurred in the protection and maintenance of said
<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 proceedings, or in any other
<br />litigation or proceeding affecting said property. Attornevs' fees reasonahiv incurred in any other way 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 am
<br />additions, improvements, or betterments made to the property hereinalime described and all property
<br />acquired by it after the date hereof iall in form satisfaclory to mortgagee). Furthermore, should mortgagor
<br />fail to cure any default in the payment of a prior ar inferior encumbrance on the property described by
<br />this instrument, mortgagor hereby agrees to permit mortgagee to cure such default, but mortgagee is not
<br />obligated to do so; and such advances shall become part of the in.lehtedness secured by this instrument,
<br />subject to the same terms and conditions.
<br />e. The rights created by this conveyance shall remain in full force end effect during ant poetpunement
<br />or extension of the time of the payment of the indebtedness evidenced by .aid pmmisson' cute or any part
<br />thereof secured hereby.
<br />/. He will continuously maintain hazard insurance, of such type or types and in such amounts as the
<br />mortgagee may front time to time require on the intpru rr vr en4 nnvc or hrrrafter on .aid property, and
<br />will Pay 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 />lose payable clauses in favor 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 loss if not made promptly by
<br />mortgagor, and each insurance company concerned is hereby authorized and directed to make payment for such
<br />lost directly to mortgagee instead of to mortgagor and mortgagee jointly. and the insurance proceeds, or any
<br />part thereof, may be applied by mortgagce at its option either to the reduction of the indebtedness hereby
<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 Pass to the
<br />purchaser or mortgage, (Jr. at the Option Of the mortgagee, may he surrrnolered for a refund.
<br />9- He will keep all buildings and other improvement-4 On said proptTty its [rood repair and condition:
<br />will permit. commit, or suffer no waste, impairment, deterioration of said
<br />in the event of failure of the prott,rty or say part thereof;
<br />mortgagor to keep the buildings On said premises and those '
<br />on said
<br />premises, or improvements thereon, in good repair, the mortgagre may make such repairs as in its discretion
<br />it may deem necessary for the proper preservation the anel the full amoum of each and every such
<br />payment shall he immediately due and payable; and shall he secured by the hen Of this mortgagee.
<br />h. He will not voluntarily create or permit to be created against the property subject to this mortgage any
<br />lien or liens inferior or superior to the lien o
<br />feather, that he will keep s f this mortgage without the written consent of the mortgagee; and
<br />end maintain the samee free fruat the claiue ul 4111 persons supplying labor ill materials for construction of any and all buildings or improvements
<br />said premises. 'low feting erected ur to hp pr,ctMb not
<br />i. He will not rent Or assign ant part (if the rent of said mortgaged propertt ur dr►nolish, nr ree nets,
<br />or NOW AnliAlly alter any huilding without the written romsent of he nrnrtgagre,
<br />j. All awards of damages in connection with amv cundenmation for public use Of ur injure rn ant ul' tin
<br />Property subject to this mortgage are hereby assigned and shall be paid to mortgagee, who rosy apply the
<br />same to payment of the ietsxecute drill last iv r under said note, and rnurtzaaer is herehv authorised, in Ill.,
<br />name o! fire nnorlgagor, to execute and deliver valid aequitionces Ihprprrf and to appeal from any such award.
<br />mortgagrr shall hove the right In inspect the mortgaged prrmise. „t gut reasonablr time. Art
<br />heleby 2= silt in any of the covenants rev conditfons of this instrument ter of the nnlr Or loan agrcempnt secured 6
<br />shall terminate the mortgagor's right to posspssiun, use, and enjoyment Of the property, at the Option of the s
<br />.e
<br />defy h, the rmorsgaae hall become Iho, Ownerl1e! ®II to! the slrrnlshand profits shrnting sheet dpfstalt �aa Pnrilh
<br />far the ind€t
<br />rents and profits. This instrumentt with ill"
<br />aeh tar upon said an assignment g,ropeNy for the purpose Of collecting such
<br />gnmrnl of env renlalo on said IerOlierty to that rment.
<br />a�d
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