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<br />83~04411
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<br />Said promilWlry note was given to ,,'cure a loan in which the Small Busines. Administration, an agency of Ihe
<br />United States of America, has participated. In compliance with section 10].1 (d) of the Roles and Regulations of
<br />the StF.J1Busines. Administration []3 C.F.R. 101.](d)], Ihis instrument is to 00 construed and enforced in accord.
<br />"Dce with applicable Federal law.
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<br />1. The mortgagor cM'eoan18 and agre"" as follows :
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<br />a. He will promptly pay the indehtedness evidenced ~y said promi..ory note at the times aDd ill the
<br />maDDer thereiD provided.
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<br />b. He will pay all taxes, assessmcDts, water rates, and other governmental O!, m:.;...kipai charges, fines, or
<br />impositions, for which provision has not been made hereinbefore, and will promptly deliver the official re,,;,jpts
<br />therefor to the said mortgagee.
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<br />c. He will pay such e"penses and fees as 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 indehtedness hereby securcd, or foreclosure hy mortgagee's sale, or court proeee,lings, or in any other
<br />litigation or proceeding affeclin!: said property, Altornevs' fees reasonahly ineurrcd in anv other wav shall he
<br />paid hy the mortll;ap:or.
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<br />d. For beller security of Ihe indebtedness her..hy seeur..,I, "pon the ""'l,,..st of the morlllagee, its
<br />.successors or assi~ns., he ~hall execute and deli\'er a :-;upplemental Jl1ort~a~e or- Inortl!a~es co\'~ring any
<br />additions, imprOyemenlS, or hetterments made to Ihe property hereinabo\'e described ami all property
<br />acquired by it after the date hereof (all in form satisfactory to Hlort~agee). Fl1rtlu-nnore, shoul(! rnortgag,or
<br />fail to cure any default in the pa~-ment of a prior or inferior ('flculllhrauce Oil the property (!escribed hy
<br />this insttlUllent, lnort~a~or hereby agrees to pcrnlit nlort~agee to t.'ure ~u('h c1efault~ hut nlortft;a~ee is not
<br />obligated to do 80; and such advances shall become parI of Ihe in,lent<"lnc.. "','lIred hy Ihis instrllmenl,
<br />subject to the same terms and conditions.
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<br />", The rights created by this conveyance shall remain ill full forec ifnd dfeet dllrin!! am p"slpu'1<'1I1<'1I1
<br />or extenE-ion of the time of the pa)"lnent of the ind('htedness evidenced h~' ~aitl prollli:-sory nole or an~ p;ul
<br />thereof securcd hercby.
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<br />f. He will continuously maintain hazard in.urance, of ouch typc or types and in such amoun18 as the
<br />nlortltal!ee Jnay frolll tittle to tinle ft'f)uire on the iJHI)ro\'emel1t~ now or lwre-itftt>r tnl :-ai.1 propt'rly, ,uHI
<br />will pay promptly when due any premiums Iherefor. All in.uTance shall he carried in companics acceptable
<br />to mortgagee and the policies and renewals thereof shall hc held hy mortgagee and have attached Ihereto
<br />loss payable c1auscs in fa,.or of and in form acceptahle to the mortgagce. 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 />nlortgagor, and each insurance company concerned is her("by authorized and directed to nlake payment for such
<br />loss directly to mortgagee instead of to mortgagor and mortgagee jointly, and the insurance proceeds, or any
<br />part thereof, may be applied hy mortgagee at its option either to Ihe reduction of the indehtedness hereby
<br />secured or to Ihe restoration or repair of Ihe property damaged or destroyed. In event of foreclosure of this
<br />mortgage, or other transfer of title to said property in extingui_hment of the indebtedness secured hereby, all
<br />right, title, and interest of the mortgagor in and to any insurance policies then in force shall pa.. to the
<br />pUreh8$Cr ur tllortgage~ or, at the option of the mor'~a~t"e, Jllay Ju.' ::ourrt>IHlt.4n.tl for a refulut
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<br />g. He will keep all buildings and olher imprO\elllenls on ;aillp"'p,'rIY in ;:outl r"pair anti cundilion:
<br />,,,-i)) permit, conuuit, or suffer no wa~te, impairtuent, deterioration of saitJ properly or any part thereor~
<br />in the e,.ent of failure of the mortgagor to keep Ihe buildinjls un sai,1 premises ,,",l IhMe ere~ted on sai,1
<br />prelnises, or illll)fo\'elnents thereon.. in ~ood repair, the nlort~a~ec luay make 8uch rt4pairs a~ in its (liscretion
<br />it may deem necessar~' for the proper preservation thereof; and the full amount of each and e"ery sn~h
<br />payment shall be immediately tlue anti I'a~able: anti shall be secure,1 hy the lien of Ihis morlj!;3:.<e.
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<br />h, He will not voluntarily create or pennit to he created against the property .uhject to this mortgage any
<br />lien or liens inferior or superior to the lien of this mortgage without the written conoent of the mortgagec; and
<br />furlher, thaI he will keep and maintain the same free from the claim of alll",r"un. ;upplyin/( labur ....
<br />nlaterials for construction of any ~UHJ all huildini!s or impro\'enlt'nts nnw hein~ t'rectf':tl or In he ('reete<< nn
<br />said. premises.
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<br />;. He will not rent or a~sjgn any part of the rent of toOuid nIortgage-d pl'opt'rty or (tt"lllOli:,;,h, 0'- rell1un:,
<br />or :oub:Hantially alter .any hnildin~ ",,"ithoulthe written ('onsent of the mort~"i!e(~.
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<br />j. All awards of dalllagt!::) in cOllnection with any cOllclelUnalioJl for public lI~e or or illj\lf) to au~ of the
<br />prolwrty subject to Ihis 1lI0rl~age arc Iwrehy assigned ,llld shall be paid tu murtllagee, whu ilia)' apply Ihe
<br />:--ame to paYllu.'nt of tlte institllnl(,l\ts 13:'ot dne under ~aid note, anti 111ortga~ee is- hereby aUlhorized.. in the
<br />nanu~ of the ulorlgagor, to ex('cutc anu cleli\'er valid acqujtlalH~e.j Ih~reof ~\1lfl In aplu--ul frolH allY :001l('h awar(L
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<br />/", Th.. llIurtjtagee shall have Ih.. ri:.<hl to inspecllhe Illort!,a!!ed I'remis.', "I;tny ft'"""",,hl., li'Ill'.
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<br />2. Default in any of the covenants or conditions of this instrument or of the note or loan agreement secured
<br />hereh)' shall terminate the mortgal!or'. right to possession, use, and enjoyment of the property, at Ihe option of the
<br />mortgagee or his assi/(llS lit being al!reed that the morlglll\or .hall ha\'e such right until default). UpOll any such
<br />default, the mort/(agee .hall become the owner of all of the renlo and profits accruing after default as "ecurit\'
<br />for the indebtedness secured ht'Tcby, witht"" ril!.ht to enl"r uponsai<l property for the purpuse of ,'oll..."ting .uch
<br />rent$and profits: This instrument shall operate liS an as&ignlllent of any rentals Oil said property 10 Ih.t extent.
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<br />S6A Yo AM 926 (2..13)
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