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<br />83- 004464
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<br />Said promi880ry note was' given to secure a loan in which the Small Business Administration, an agency of the
<br />United.Statcsof America, has participated. In compliance with section 101.1(d) of the Rules and Regulations of
<br />the Small Business Administration [13 C.F.R. 101.1 (d) j, this instrument is to be construed and 'enforced in accord.
<br />anoowith applicable Federal law.
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<br />1. The mortgagor ClWenants and agrees as follows:
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<br />4. He will promptly pay the indebtednet!ll evidenced by said promissory note at'the timea and'ia the
<br />manner therein provided.
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<br />b. He will pay all taxes, assessments, water rates, and other'govemmental or mur.k~palchargea,fines,or
<br />llnpoeitil)D8, for which provision has not been made hereinbefore, and will promptly deliver theoflicialreL-eipu
<br />therefor to the said mortgagee;
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<br />c. He will pay such expenses 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 indebtedness hereby secured, or foreclosure by mortga!,ee's sale; or court proceedings, or in any other
<br />litigation or proceeding affecting said property, Attorne,'s' fees reasonahh' inenrr",j in am' other wav shall he
<br />paid by the mortgal/or,
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<br />d. For better security of the indebtedness hereby secured, "pon the rcqut'st of the mortgagee, its
<br />successors or assigns, he shall execute and deliver i:\ $upplemental lnort/;!:al!e or nlort~aJ!;es cov?'ring any
<br />additions, improvements, or h"tterments made to the prop..rtv IwreinahoH d..scrihed and all property
<br />acquired by it after the date hereof i all in form .satisfactory to Illortgagee I. Furtht>'nnor{>~ should nlortgal!or
<br />fail to cure any default in the paynlent of a prior or inferiof encumbrance 011 the property described h~f
<br />this instrunlent~ Inortf:ta~or hereby a~rees to permit mort~agee to 1,'Uft" ~u('h default~ but mortga~ee is not
<br />obligated to do SO~ and such advances shall beconle part of tlH~ inclehh.dlw:,!'i ~t"t'l1rt"rI h~' thi~ ins.trunlent.
<br />subject to the same terms and conditions.
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<br />e. The rights created by this conveyance shall renlain in full force and etIect llurill~ au~ postpUllt'melll
<br />or extension of the tinle of the paymf'nt of the iIHJ{'btedne~~ p\'irieIlN'.] h~ :-aid pr()mi:o;;~ory lIofe or an~ part
<br />thereof secured herch,.,
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<br />f. He will continuously maintain hazard insurance, of such type or types and in such amounts as the
<br />nlortp;a~ee nlUY' frOIH tiDle to time require on the improvt"lnent~ now Of ht'Tt"after on :--aitl proIH'rly~ and
<br />will pay promptly when due any premiums therefor. All insurance shall he carried in companies acceptable
<br />to mortgagee and the policies and renewals thereof shall he held hy mortgagee and have attached thereto
<br />loss payable clauses in fa"or of and in form acceptable to the mortgagee. In event of 10Sll, mortgagor will give
<br />immediate notice in writing to mortgagee. and mortgagee may make proof of 1088 if not made promptly hy
<br />mortgagor. and each insurance company concerned is herehy authorized and directed to make payment for such
<br />loss directly to mortgagee instead of to mortgagor and mortgallee jointl~', and the insurance proceeds, or any
<br />part thereof, may be applied by mortgagee at its option either to the reduction of the indebtedness hereby
<br />secured or to the restoration or repair of the property damaged or destro~'ed, In event of foredosure of this
<br />mortgage, or other transfer of title to said propert~' in extinguishment of the indehtedness seeured herehy, 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 mortgag~e or~ at the option of the Illorl~a:;r:t"e~ nl.a~' ht. :,\Irrt'utlt'I't.(1 ror i1 refund.
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<br />g. He will keep all buildings and other impro\"cments on ::-aiJ prupt'rly ill ~()utl ft'p;..ir auti condition:
<br />will pertnit, camluit, or suffer no waste, inlpairnlenl~ deterioration of :,aitl property or any part thereof;
<br />in the event of failure of the mortgagor to keep the buildinll. on "aid premi.e" and tho"," ....ect..d on said
<br />prenlises, or inlprovenlenb thereon~ in g:ood repair. the nlort~a~~e may make :,lu'h rt'lhlir~ ~i:'o in il:-. dis.cretion
<br />it 11M)' cleCln necessary for tht' proper preservation therf'of: ~ul(l the full amollnt of ead, mH{ t'H'r~ :o.llfh
<br />p'ayment shaH be immediately tine and pa,.'ablt": and shaH he securef! hy the lien of thi~ mort:z:af.!t'.
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<br />h. He will not \'oluntaril}' create or permit to be created against the property suhject to this mortgage any
<br />lien or liens inferior or superior to the lien of this mortgage without the wrilten consent of the mortgagee; and
<br />further, Utat he win keep and lnaintain the ~anlt.' free from the duilH of aU per:o;ons :-liPplyinf! labor 01'
<br />illaterials for construction of an~. and all buildinfl.s or irnpro'H:'llIt'Uh no\\.' hl'in~ ,'rt'eli',l or to he f'n't~tt'd 011
<br />said.premises.
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<br />i. He will not rent or 3t\sigu any part of the renl of ~aitl nlortgageti propl'rl~ or dt'molI~h. or rpmllve~
<br />ur ~ubslanlial1y alter any huildin~ without the wriUe,n ('onsent of the morlllal!et',
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<br />j.AlIawards of damages in connectioll with any wndemnatioll for puhlic us," of or injur) III any of tht'
<br />I.roperty subject to this mort!(age are hereby assigued and ,hall he paid to llI11rtllagee, who ma,' apply the
<br />s~nle, t~, pa~.l11ent of tlte i.nstalhut"nls last due under ~aiu note. and lI1ortga~ec j~ hereby aUlhorized, in the
<br />n~JiH;' 'or il,~~"mortga'goi"~' to eXeCIJ.te and deliver valid a{'quittanced tllt~Teof and II) appeal from an~ l"ul'lt awartl.
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<br />k'iTbe,JlIurtllallee "I,lall have the ril'ht 10 in.pe~1 the mortllal'd I'rellli",,, <It <IllY fl,a,,,,,,.!.le tillll',
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<br />"2: ''oetauli in any of the cOvenants or conditions of this instrument or of the note or Joan agreement secured
<br />hereby shall terminate the mortgallor's right to possession. use, and enjoyment of the property. at the option of the
<br />tlllj!;lgageeor his a8&igns (it being agreed that t~e, It!()r~j1go~shall have .uch right until default), UpOll any such
<br />d~l,",ul~, the mortgagee shall become the owner'.otallo'tilie: rents and profits an,ruing aftt'r default a6 securitv
<br />(~the, inrlebtedness secured hereby, with,tly>i~~t;tO:eq:tlll' u~Q,n~cI property for tbe purpose of ,.ollecting such
<br />rents a.nd profits. This in&trumenl .haJJ operate as an astignment of any rent.ls on said property to that extent.
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<br />saA. FO RM 928 (2~'3)
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