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.w._.
<br />v~ ~4
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<br />Said ptomissory note-was given to secure a loan in which the-Small Business Administration, an agency of the
<br />Upited States of America, has participated. In compliance with section 141.1 (d) of the Rules and Regulations of
<br />the St~t11 Business Adminietratiora [13 C.F.R. 141.1{d) J, this instrument is to 6e construed and enforced in accord•
<br />nave with applicable Federal late.
<br />1. The mortgagor waeaants and agrees as follows:
<br />a. 13e will ptomptlq pay the indebtedness evidenced by -said promissory note at the'timeb and"<ih the
<br />manner thereiti provided.
<br />fir Ha will gay all taxes, asenemcnts, water rate,; and other governmental or mnr.~cipal chargetii: fiae4 or
<br />impoeitiana; far which provision has not been made hareinbefore, and will promptly deliver the of6eisI ce~~lysa
<br />therefor to the raid mortgagee.
<br />c. $e will pay such expenxs and teas as may be incurred in the protection and maintenaace'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, orm atiy°other
<br />}itigation ar proceeding affecting said property. Attorneys' fees reasonably incurred in any othei way shall }ie
<br />paid6ythemortgagor. - - -
<br />d. For better security of the indebtedness hereby secured, upon the request of ibe mortgagee, iis- - -
<br />succesaora or aswigns, ha shall execute and deliver a supplemental mortgage nr mortgages covering. any -
<br />additiona, improvements, or betterments made to the properh hrreinaboye described and al! property
<br />acquired by it after the date hereof :all in form satisfactory to mortgagee~_ Furthermore, shoul<J atadgagor -
<br />fail to cure any default in the payment oC a prior or inferior encumbrance on the property- rlescri}red d»•
<br />this instrument. mortgagor hereby agrees to permit mortgagee to rare sorb default. but mortgagee is not -
<br />oblit;ated io do so; and such advances shall become part of the iodehtednrss secured he this instrument,
<br />subject to the same terms and conditions.
<br />s. The tights created by this conveyance shaft remain iu full facer and eltect during axis pustpwtrntrut
<br />er extensiatz of the time of ihr payment of the imdrhtedness rvidenert! by maid promissory ntrte or snv part
<br />thereo! secured hereby.
<br />J. Ha will continuously maintain hazard insurance, of ouch -type or types and in such amounts as the
<br />mortgagee uiay from tints to time require nu the improvement, nnw ur hereafter +m -aid property, and
<br />wilt pay promptly when due any premiums there For. AIf insurance shall fze carried in companies acceptable
<br />to mortgagee and the policies and renewals thereof shall be held by mortgagee and have attached thereto
<br />loan payable clauses in favor of and in form acceptable to the mortgagee.. In event of Iona, mortgagor will give
<br />immediate notice in writing €o mortgagee, and mortgagee may make proof oC loan if vat made promptly by
<br />mortgagor, sad each inaorance company concerned is hereby authorized and directed to make payment for each
<br />Ioes dixrctfy to mortgagee instead of to mortgagor and mortgagee jointly, and the ia4uranee proceeds, or any
<br />part thereat, nay be applied by mortgagee at iis option either to the reduction of the indebtedness hereby
<br />secured or to the restoration or repair of the property damaged ar 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 dren in Farce shall pass to the
<br />purchaser or :nortgagrr or, at the option of the mortgagee, mat be surreudrrrd 1'ur a refun<I.
<br />g. He will keep all buildings and other improvements ou said prnprrlti in gaud repair and runditiou:
<br />will permit, commit, ar sutler no waste. impairment, drterioratiott of said property or stn' part thereof;
<br />in the event of failure of the arortgagur tm keep the buildings uu said premises and elm>r erected on nail
<br />premises, or improvements thereon, in goad repaiq the ntorigagre may make sorb rrlrairs as in it. discretion
<br />3t may deem necessary far the proper preservation thereof::utd the full amount of rack and turn- such
<br />payment shall 6e immrdioteh- clue and payable: sled shall he secured by the lien of thi. nturtgxge.
<br />h. He will not voluntarily create or permit to be treated against the propert}' subject to this mortgage any
<br />ilea or liens interior or superior to the lien of thin mortgage without the written convent of the mortgagee; and
<br />further, that he will keep and maintain the name tree from the claim of all persons supplcin({ labor or
<br />xttaterials for construction of snv and all buildings or itnprovemrots ^ow being erected nr to hr erected on
<br />said-premises. - -
<br />i. He tvi11 not rant uc aeaign aqy Part oI the rent +zf-said otortgagcd pruprrtr-oE demolish, ur rrmurc,
<br />ur substantially, alter snv lmtildint. without the written consent of flee mortgay:er. ,
<br />j. Ail awards of dantagrs is coxztteclian with snv rotulentnation for public uoe of ur iujurt to and of the
<br />"- jiruperty subjeM to Chia mortgage era hereby assigned and shalt be paid to mortgagee, who may apply the
<br />same to payruent of the-installntenls lea due unde-x said uutr, need awrtgagee is hereby authorised, in the
<br />name of the enartga~r, to execute and deliver valid acquittances thereof and to appeal from :uty such aw-a rd.
<br />k. `1'he ntoNgager sltalf have the right to innpert the morEµaaed prruti~•r at anc rraautable tiue<-,
<br />$. F)efavlt in any at eha eravenanu or conditions of this instrument or ni the note ar loan agreement secured
<br />lterebay shall tmminate the mottgapar's ri{tht to paasemaion, use, and enjapment of the property, at the option of the
<br />mortgagee or his assigns fit being agreed that the mortgagor shall have ouch right until defauh), Upun any such
<br />default; flan mortgattea vhall haeome .the owner a[ all of eha refits and profits accruing after deiauft ae security
<br />for Hiss iisdalttndLMas secured hereby, with the ritlit to eattar-upon said property for the purpove of collecting such
<br />rents and prabts, This inatrutits»t shall ogtarnta r:an nsigttrtaeot of nay rentals an said property to that e.:tart.
<br />4aA rarest tM2a to+t tt
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