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<br /> 060306
<br /> ,;aid prarrtiasory note visa giivvv+,' to seeur+e a loan in which the Stull. Buainesa Adminlsermion. an agency of the
<br /> United States of America. halt a ipatetL IT, co~mplisace with section lou(d) of the Rules and I egttlations of partic
<br /> the Small Business Administritio t 113 C-FA 101.1(d) J, this intstrument it to be construed and enfomed in ac"rd-
<br /> ance with applicable Federal law.
<br /> 1. ;Ape mortgagor mweanants and agr+ece air follows:
<br />
<br /> a. fie will promptly pay ;he indebtedness evidenced by said promissory note at the times and in the
<br /> manner thertiu provided.
<br /> b. He will pay all taxes. asitessrnents, water rates, and other governmental cr mankipal charges, fines, or'
<br /> impositions, for which provision hat, not been made hereinbc:ore, and will promptly deliver the official receipti
<br /> therefor no the said mortgagee.
<br /> c. He will pay such expensex and feer as may be incurred in the protection and ttraintenance of said
<br /> property, including the ferw of any attorney employed by tht mortgagee for the collection of any t.r all of
<br /> the indebtedness hereby secured, or foreclosure by mottgager's sale, ur court procecdings, or ill na% other
<br /> litigation or proceeding affecting said property. Attorneys' fees reasonahk incurred in art% other wav shall 1+e
<br /> paid by the mortgagor,
<br /> ed. For better security of the indebtednew;4 hereb} secured, upon the trqur+l of the ntoricager, its
<br /> sueeessors or assigns, hr shall execute and deliver a suppirmental mortgage or ntortgagre co.--ring aw. ,
<br /> Additions, improyrntcttts, or brtternrnts made to file prolrrty
<br /> tinrarlt;a`grr~u,furthcrm pct,sind houldlmort¢, lert t,r
<br /> acquired by it after 111V lat.. her:nf iall in form sat ~
<br /> fai'i to cure any default in the payntent of a prior or inferior encumbrat,ce nn the l,roprrt- clr-,crihell h,-
<br /> or lrcreby agrees to per-wit mortgagee to cure such default, bill tnortgagre is not
<br /> in~Inu++rnt.
<br /> this inatrunaent, ;norlgaw 1 by this
<br /> oial,gaterl to \io so: and sue"' advance.. shall become part of the
<br /> rubjrrt t_, the tame terms anf9 conditions.
<br /> r, "T be rights created z+v this converancr shall remain in full force and effect dstring anc pu~tpwtrnu nt
<br /> or extrahion of the time of the payment of the •indrbtednr_•.tf ryi•leneed he raid promiuory stifle or anc part
<br /> thereonse'cured herc.b%.
<br /> Ale will continuousiv maintain hazard insurance, of such type or typeF and in such amounts as the
<br /> e o% or hrrrrflrr no -aifl properl%, iuul
<br /> rnortgagre rr.av from tiu,r tr• time require nit the intpeu~rm nt, n
<br /> will pay p.r)mptty when due any. premiums therefor. All insurance shall he carried in companies acceptable
<br /> to mortgagem and the polities and renewals thereof shall be held by mortgagee and ha%r attached thereto
<br /> loss payable. cfausrs in fa-.or cf and in form acceptable to the mortgager. In event of loss, mortgagor will give
<br /> immediate notice in wtiting to mortgagee, and mortgagee may
<br /> kproof d directed to make made prom
<br /> forlsubrty
<br /> payment
<br /> mortgagor, and each inrurnncr~ company concerned is hereby authorized
<br /> loos directly to mortgagee int.tead of to mortgagor and mortgagee jointly, and the insurance proceeds, or any
<br /> part thereof, nxav be applied by mortgagee at its option either to the reduction of the ;ndebtedness 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 cf title to said property in extinguishment of the indebtedness secured hereby, all
<br /> right, title, and interest of file mortgagor in and to any insurance policies their in force shall pass to the
<br /> purcha;cr or mortgagee or, at tite option of the morizager, slat tic aorrrodrrrd for it rr(+sml.
<br /> g, fir will krep all buiidings . td other intprovenient+ nn raid proprrt• in good repair and condition:
<br /> will permit, commit, or Fuffer no t+apte, inrltairtrent. sletertoratton of said property fir any earl thereof.
<br /> rrriuke- and tho-r erected un said
<br /> in the event of failure of the nutrtgagu: to keep the b+tildings on said
<br /> prertiseF, or improyemenu, thereon. in good repair, the mortgagee may make;uch r• livirs a-• in its discretion
<br /> it may deem necessary for the proper preservation thereof; and the full atrnnunt of rarh anti r\rr. •ttr•h
<br /> payment shall be intmediate'•.y der and pa}able: and shall he secured h% Cite lien of thi- nu,rtgat:e,
<br /> h. Ile will not voluntarily create or permit to be created against the property subject to this mortgage an•
<br /> lien or liens inferior or superior to the lien of this mortgage without the written cuni\ent of the mortgzgee: am!
<br /> ftirther, that hr x'ill keep and maintain the enter free front the claim of all l,rrwuns rulfpkinlt laleur of
<br /> materials for construction of any avid all buildings or itoprovemrnt~ stow h.•iog rrectrd or to he erected on
<br /> said pretmises:
<br /> r, lie will not rent or m+sign an) part of the rent of sml mortg,ag--d proprrv, or dentoli-h, or rrtturr,
<br /> ur iuV-taniially alter asts building without the written consent of the mortgal:er.
<br /> j. All awards of Hama},, s in connection with snv condet-onatiott for public to-r of or iujurs off an% of the
<br /> property subject to this nicrtgage ire hereby assigned and shall be paid lu rttortgager, who nia% appl} the
<br /> tiente to payment of the installntents la+t dw under said note, and nu,rtgagee i* herrb\ antf+orized, in the
<br /> name of the mortgagor, to execute and deii-.er valid acquittances tltrrrof and to appeal frn•te AM Poch ilward.
<br /> A. The mortgager shall base the right to inrpret tilt tuortgaKr41 pretniw, at any rr o-mialhle isitfr.
<br /> Default in any of the covenants or conditions of this instrument or of the note or loan arreemrnt secured
<br /> hereby shall terminate the mortgagor's iight to possession, 'use. and enjo_ nest of the propert% at the option of the.
<br /> naortgagrr or his amigns (it being agreed that the mortgagor ehail hav,• sueh right until default). Upon any such
<br /> default. ila- •nnr•~'qee slsall beccmr the owner of all of the rents Awl profit, sccruinr, after default as security
<br /> for the ;n3ekrrr:de,ra. Pecurrcl hereby, with the right to enter upon said property for the purpoo' of collecting such
<br /> rents an4i profits- This instrument shall operate as an amignmrnt of any rentals on .aid property to that extent.
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