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<br />84 --., 003741
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<br />II, He will promptly pay the indebtedn_ evidenced by .aid promiMory note at the tiJn... mdillthe
<br />manner therein provided.
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<br />b. He will pay all tax..., a......mentl, water rate., and other governmental or municipal eh.~nn...;'or
<br />iJnpOlitiom, for which provi.ion has not been made hereinbefore, and will promptly'deliver theollieialre<:6lpti
<br />therefor to the .aid mongagee,
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<br />c, He will pay .uch expen.... and feel a. may be incurred in the protection and maintenance of aid'
<br />property, including the fe... of any attorney employed by the mongagee for the collection of' any'oran..f
<br />the indebtedness hereby sccured, or foreclosure by mortgagee's sale, or couri proceedings, or--in-,an.y_"oth~:r:-
<br />litigation or proceeding affectinlZ said property. Attornevs' fees reaeonahly incurred in anv other .wav,shldl-he
<br />paid by the mort~a~or,
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<br />Said promillory note was given to secure a loan in which the Small BUline.. Admini.tration, an agency, of: the
<br />UnitedStatel of America, has participated, In compliance with oection 101.1 (d) of the Rules and Regulalione of:
<br />the S_II Bu.in.... Admini.tration [13 C,F.R. 101.1 (d) ], this in.trument i. to be con.trued and enfo,..,ed,inaeeord-
<br />....ce with applicable Federal law.
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<br />1, The mortgagor eovenanll and agr..... BI follow.:
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<br />d. For hettcr security of the indebtedness hereby se(:ured, upon the rrqucst of the mortgag~e, Jti
<br />successors or assigns, he shall execute and deliver a supplemental mortp;a~e or mort~af(e8 covering. any
<br />additions, improvements, or betterments made to the property hereinabove (lescrihec): arid an property
<br />acquired by it after the date hereof (all in Corm satisfactory to mortgagee). Furtbermore., should mortgat(or
<br />fail to cure au)" default in the pa) ment of a prior or inferior encumbrance 011 the property desc'ribed -by
<br />this instrument~ mort~agor hereby agrees to permit mortgagee f" "ure such default. but Inortgap::ee -is not
<br />obligated to do 50; and 6uch advances shall hec(p",e part of t'he )nrlebtl~dnc~s ~p.(~urerl hy this indr.l1nlent~
<br />subject to the same terms and conditions.
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<br />e. The rights created by this conveyance shall remain in full force and effect durinf! all~ p06tponeUlt!ul
<br />or extension of the time of the payment of the indebtedness evidencetJ hy !'iaifl promi1'\Sory note or an~c part
<br />thereof secured hereby,
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<br />J. He will continuoul!Ily maintain hazard insurance, of such type or types and in such amounts as '-~e
<br />mort~a~ee may' from time to time require on the improvementlj, now or Ilt~reaft{>r on l'!aid; pcopt"rty, -ami
<br />will pay promptly when due any premiums therefor, All insurance shall be carried in compani... acceptable
<br />to mortgagee and the policies and renewals thereof shall be held by mortgagee and have attached thereto
<br />los8 payable clauses in favor of and in form acceptable to the mortgagee. In event of lo&&, mortgag9rwilI-give
<br />immediate notice in writing to mortgagee~ and mortgagee may m~ke proof of ]088 if not made- promptly by
<br />mortgagor. and each insurance company concerned is hereby authorized and directed to make p_ayment for Iluch
<br />1068 directly to mortgagee instead of to mort~agor and mortgagee jointly~ and the insurance procee~ or any
<br />par~ thereof, may be applied by mortgagee a~ i~s option either to the reduction of the indebtedne.. hereby
<br />secured or to the restoration or repair of the property damaged or 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 then in Corce shall paM to the
<br />l)Urcha~er or mortgagee or, at the option of the mort~al!~e. nHt~. he sUrTt:'IHIt"rt"d for a reful1d.
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<br />g. He will keep all buildings and other improvements on ~aid property ill ~oOll repair and condition:
<br />will permit~ commit, or s.uffer no waste, impairment~ deterioration of said property or auy part thereof;
<br />in the event of failure of the mortgagor to keep the buildings 011 ~ai(l premises and tlw~e e,rectetl on said
<br />premises. or impro\-'ementtl there Oil, in p;ood repair~ the mort~agee Illay make 8w:h r~pair8 a~ ill its discretion
<br />it may deem necessary for the proper preservation thereof; and the fuB amount of each and every slIch
<br />payment shall be immediately due and pa)'able; and shall be secured by the lien of thi" mort!!af!e.
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<br />h. He will not voluntarilJ create or pennit to he created against the property subject to thil!l mortgage any
<br />lien or liens inferior or superior to the lien of this mortgage without the written consent of the mortgagee; and
<br />further. that he will keep and maintain the same free froUl the claim of all IH~r~ons !;upplyin~ labot" 01'
<br />materials for construction of any and all buildin~8 or improvenn'nts now heill~ f'rertf"rI or to he ('rected 011
<br />said premises.
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<br />i. He will not rent or aS5ign any part of the rent of ~aid mortgaged properly or demolish, or rt'H1U\'C.
<br />or substantially alter any hllildin,z; without the written <"oneellt of the mortftaJ!ep.
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<br />j. All awards of damages in connection with any condemnation for public lI~C of or iUjUf) 10 any of the
<br />property subject to this morl~age are hereby assigned and shall be paid to mOft!otl;l~ee, who ma)" apply the
<br />same to payment of the installments last due under said note, and mortga~ee i8 hereby authorized. in the
<br />nam€> or the mortgagor~ to execute and deliver valid acquittances then'oC and 10 appt~al from allY !'m~h award.
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<br />I.:. The nlOrt~af!:ee ~hall have Ihe riJ!ht to inspect the mortj!aJ!,ed premil\t~l" ill any rea!'inllablt~ time.
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<br />2. Default in any of the covenant! or conditions of this instrument or of the note or loan agreement secured
<br />hereby shall terminate the mortgagor's right to p08&e5&ion, U8e, and enjo}ment of the property. at the option of the
<br />mortgagee or his a..igns (it being agreed that the mor~ga~or shall have ouch right until defaul~). Upon any such
<br />de.fault~ the mortgagee shall become the owner of all of the rents and pr06tl'l accruing after default a8 securih'
<br />for the indebtedness secured hereby~ with thp. riaht to entAf upon &aid property for the purp08e of collecting guch
<br />rents and profitg. This instrument shall operate al an aaaignment of any rentalN on said property to lhat extent.
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<br />seA FO RM 9:2:8 12.731
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