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<br />Said promissory note was given to secure a loan in which the Smnll Business Administration an agency of the
<br />United States of America, has participated. In compliance with section 101.11 d 1 of the Rulee and Regulations of
<br />the Small Business Administration [13 C.F.R. IDl.lidl ), this instrument is to be construed and enforced in accord-
<br />ance with applicable Federal law.
<br />I. The mortgagor covenants and agrees ae 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, aseesemente, water rates, and other governmental or mu:.izipai charges, fines, or
<br />impoeition0. for which provision has not been made hereinbefore, and will promptly deliver the official receipts
<br />therefor to the said mortgagee.
<br />c. He will pay such expenses and fees ae 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 proceerlinge, or in any other
<br />litigation or proceeding affecting said property. Attorneys' free reasnnahh~ incurred in arty other way shall he
<br />paid by the mortgagor.
<br />d. For better security of the indebtedness herehv secured, upon the rryuest of the mortgagee„ its
<br />successors or assigns, he shall execute and deliver a supplemental mortgage or mortgages covering am'
<br />additions, improvements. or hrttermenta made to the property hereinaboce descrfberl :md all property
<br />acquired be it after the date hereof ~ all in form satisfactory to mortgagee i . Furdtennore, should mortgagor
<br />fail to cure anv default in the payment of a prior or inferior encumbrance mt the property described hr
<br />thin instrument, urortgagor herehv agrees to permit mortgagee to cure such default, but mortgagee is not
<br />obligated to do so: and such advances shall become part of tLe iudehtrdnrss .reared by this instrument
<br />subject to the same terms and conditions.
<br />r•. The rights created be this conveyance shall remain in full inter and rifest dnriug au. pustpuneuteul
<br />or extension oC the time of the payment of the in dehtedneas rvidencrrl br said promissory note or anv part
<br />thereof secured hereby.
<br />/. He will continuously maintain hazard insurance, of such type or types and in each amotmte ae the
<br />mortgagee may Frmu time to Time require on the improvements now ur hereafter ou said property, :out
<br />will pay promptly when due any premiums therefor. All insurance shalt be carried in companies acceptable
<br />to mortgagee and the policies and renewals [hereof shall be held by mortgagee and have attached-thereto
<br />Toss 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 proo[ oC lose if not made promptly by
<br />mortgagor, and each insurance company concerned is hereby authorized and directed to make payment for such
<br />loss directly to mortgagee instead of to mortgagor and mortgagee jointly, and the insurance proceed0..or any
<br />part thereof, may be applied by mortgagee at its option either to the reduction of the indebtednese hereby
<br />secured or to the. restoration or repair of the property damaged or destroyed. In event of forecloeun 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 ur mortgagee or, at the option of the mortgagee, may be ~urrrudrreJ far a refuurl.
<br />g. He will keep all buildings uud othec improvements ou said pmprrty iu goad, repair sari condition:
<br />will permit commit, or suRer uo waste, impairment, deterioration of said properly' or anv hart thereofc
<br />in the event of failure of the mortgagor to keep the buildings mt said premises arid. Iltose erected on said
<br />premises, or improvements thereon, iu good repair, the mor[}tagee may make such-teiiairsna in~:its discretion
<br />it may deem necessary for the proper preservation thereof; and the frill' antqunt of each and. every such
<br />payment shall 6e immediatek due and payable:, and shall be secured by the lien of this mortgage. -
<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 of this mortgage without the written consent of [he mortgagee; and
<br />[umber, that he. will keep and maintai^ the same free irmu the, claim of all persons supplying lobar or
<br />materials (or construction of anv and all buildings or improvements now being rrrrted or to he erected ou
<br />said premises.
<br />i. He will nut rent ur assign any pert of the teat of said mortgaged property or demolish, or remove,
<br />ur substantially alter any building without the wri ttrn eonacut of the tttortgager.
<br />j. All awards u[ damages in couttection with any condemnation for public use of ur injury to-any of Fhe
<br />property subject to this mortgage are hereby assigned and shall be pail to mortgagee; who may apply the
<br />same to payment of the inetallmrnta last due under said note, and mortgagee i. hereby authorized, in the
<br />nnntr of t1u• mortgagar, to execute amt deliver valid acquittances thrreoF noel to appeal Frmn any such award.
<br />k. The uwmgnger shall have the right to inspect the mortgaged premise ut any reaanuable time,
<br />2, Ikfault in any of the covenants or conditions of this instrument or of the nme or loan agreement scoured
<br />hereby shall terntinme the mortgagor's right to possession use, and enjoyment of the property, at the option of the
<br />ftroriga}tee or his assigns tit bring agreed that the martgagur shall have such right-until de[aultl. Upon any such
<br />default, the mortgagee alsall become the owner of all of the yenta and profits accreting after default as secnrih•
<br />Car the indebtedness secured hereby, with 4he ripltFta ent.rr txpun---acid property for the purpose of collecting such
<br />rents amt profits. Thin instrtnnent shall operate ae an assignment of any rentals on acid praprrty to that extent.
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