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83-~.~~Utl`7~r
<br />$aid promissory note was given to secure a loan in which the Small Business Administration, an agency o[ the
<br />United-States of America, has participated. In compliance with section 101.1 (d) of the Rules and ReguLtions of
<br />the Smll Business Administration [13 C.F.R. 101.1 (d) ), this instrument is tc be construed and enforced in accord-
<br />ance with applicable Federal law.
<br />I. The ttwrtgagor covenants and agteea 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 />6. He will pay all nixes; aseeaamente, water rates, and other governmental or m:acipal charges, fines, or
<br />impositions, [or which provision has not been made hereinbefore, and will promptly deliver the of6eial receipts
<br />therefor to the said mortgagee.
<br />c. He will pay wch ezpettees and teen as may be incurred in the protection and maintenance of aid
<br />property, including the fees of any attorney employed by the mortgagee for the collection of any or alt of
<br />the indebtedness hereby aecored, or foreclosure by mortgagee's sale, or court proceedings, or in any other
<br />litigation or proceeding affecting said property. Attorneys' feu reasonably incurred in am~other way shall he
<br />paid by the mortgagor.
<br />d. For better security of the indebtedness hereby secured, np«u the request of the mortgagee, its
<br />euccessorv or assigns, he shall execute and deliver a supplemental mortgage or mortgages covering any
<br />additions, improvements, or betterments made to the property hereinabove described and all property
<br />acquired by it after the date hereof 1 all in fornt satisfactory to mortgagee i. Furthermore, should mortgagor
<br />fail [o cure any default in the payment of a prior or inferior encumbrance on the praperty described by
<br />thin instrument, mortgagor herel;y agrees to permit mortgagee to rune sorb default, but mortgagee is not
<br />obligated to do so: and such advances shall become part of the indebtedness secured by [his instrument,
<br />subject to the same terms and conditions.
<br />e. The rights created by this conveyance shall remain iu lull farce and elfect daring and postpwtrurrut
<br />or extension of the time ai the payment of the iudrbtednes~. evidenced b. -aid promissarv ante or env part
<br />thereoisecured hereby.
<br />/. He will continuously maintain hazard insurance, of such type or types and in each amounts as the
<br />mortgagee may from time to time require uu the improyemeuta nop ar hrreaftrr as .aid praperty, ;unl
<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 6e held 6v mortgagee and have attached thereto
<br />lose payable clauses in favor of and in form acceptable to the mortgagee. In event of lose, 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 />loan 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 indebtedneae hereby
<br />secured or to the restoration or repair of the property damaged or devtrayed. In event of foreclosure of this
<br />mortgage, or other transfer of title to said property in extinguishment of the indehtedneae secured hereby, all
<br />right, title, and intertst of the mortgagor in and to any insurance policies then in force shall pass to the
<br />purchaser or nrortgagrr or, at the option u( the mortgagee, nee. he ,urrrndrrnd Iar .t reload.
<br />g. He will keep all buildings and other imprayrnrent nit :aid property in goad repair and condiliou:
<br />will permit, commit, or suAer no waste, impairment, deterioration of said property or any part thereat,
<br />in the event of failure o[ the nwrtgagor to keep the buildings at said premises and tlmse erected on said
<br />premises, or improvematis thereon, in gaol repair, the mortgagee may utakr such repairs as in its discretion
<br />it may deem necusery for the proper preservation [hereof: and the. full amount of each and every such
<br />payment ahal- 6e immediateh• due and payable; and shall he secured be the lien of this ntortgagr.
<br />h. He will not valuntatily create ar permit to be 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 convent of the mortgagee; and
<br />further, that he will keep and maintain the rears tree from the. claim of all pr rsuns supplying lobar or
<br />nta,terials far convtntetion of anc and all buildings or intpruvrmrnts now being erected or to he erected mr
<br />void premises.
<br />i. He wit! not rent ar assign ant part of the rcut a[ said mortgaged proprrt, ar drmoGsh, ar rrtttu, c,
<br />ur substantially alter env building without the written ronsrut of the martga gee.
<br />j. A^ awardv of damages in connection with anT condewnalion for public use c( ar injur} Fu any of the
<br />property subject to this mortgage are hercbv avaigned and shall be paid to eortgagee, who may apply the
<br />same in payment of the installments lea due under said note, and awrtgaKer it hereby authorized, in the
<br />name of [hr mortgagoq to execute and deliver valid arquitiancer thereof and to appeal from any snch award.
<br />h. •t'he niortgager shall have the right to irtspect the mortgaged prrwie4•.• at ace, n•asonahle uuur.
<br />2:' I3etanlt in art? of the cavenantL of conditions of this instrument or of the note or lean agreement r_cured
<br />hereby ibailterraiaate efts mortgagor': ri{iltt to poasaaion, use, and enjoyment of the property, at the option of the
<br />mYrt~ttgee at his araiEtut fit being agreed that the mortgagor shall have ouch right until default). L!pon any such
<br />tftlatsh. the moriftagtx shall become the owner of all of the rents and profits scenting after default as security
<br />fttr the indebtcdnaa secured hereby, wfth the rfabt to entree upon acid property fnr the purpt»e of coltertinR such
<br />rcat- find pso4ta. Tfiia tnetiwment ithall opeuryile aa:ta aisigntnaslpt _af any rentals on said praperty to that extent.
<br />Y!w row stn tt-t t4
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