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79- uU3733
<br />Said prontiseory note was given to secure a loan in which the Small Business Administration, an agency of the
<br />United Staten of America, has participated. In compliance with section 101.1 (d) of the Rules sad Regulations of
<br />the Sta~all Bnainees Administration (13 C.F.R. I01.1(d) ], this instrument is to be construed and enforced in accord-
<br />aacc with applicable Federal law.
<br />1. The mortgagor covenants sad agroea ae follows:
<br />a. He will promptly pay the indebtedatxe evidenced by said promissory note at the times and in the
<br />mannertberein provided.
<br />6. He will pay all taxes, atttreaameate, water rates, and other governmental or atu;.:cipal charges, fines, or
<br />impoaitiona, for which ptovitdon has not been made hereinbefore, and will promptly deliver the official recciptb
<br />therefor to the said mortgagee.
<br />c. He will pap such ezpenem and fees as may he incurred in the protection and maintenance of said
<br />property, inctudiag the fees of any attorney employed by the mortgagee for the collection of any or all of
<br />the indebtedness hereby secured, or foreclosure b}• mortgagee's sale, or court proceedings, or in any other
<br />litigation or proceeding affecting said property. ?ttiorneys fees reasonahh incurrcrl in gnu other way shall he
<br />paid by the mortgagor.
<br />d. For better security of the indebtedness hereby secured, upon the rcyuest of the mortgagee, its
<br />successors of assigns, he shall execute and deliver a supplemental mortgage or mortgages courting any
<br />additions, improvements, or betterments made to the property ln•reinabove described and ail property
<br />acquired by it after the date hereof fall in fornt satisfactory to mortgagee 1. Furthennnre, slwuld mortgagor
<br />fail to cure any defauh in the payment of a pror or inferior encumbrance on ihr property described by
<br />this instrument, tortgagor hereby agrees to permit mortgagee to cure such default, but mortgagee is not
<br />obligated to do so; and such advanep shall become part of the indebtedness secured by this instrument.
<br />subject to the same terms and conditions.
<br />e. Tits rights ereaied by this conveyance shall remain in full Corce and effect during an. pustpuucutrnt
<br />or extension of the time oC the payment of the indebtedness evidenced be said promissory ante or an. part
<br />thereof secured heeebv.
<br />J. He will continuously maintain passed insurance, of such type or types and in such amotmta ss the
<br />mortgagee may from time to time require on the improvements now ur hrrea[trr nn raid property, and
<br />will pay promptl}• when due any premiums therefor. All insurance shall be carried in companies acceptable
<br />to mortgagee and the policies and renewals thereof shall be held by mortgagee and have attached thereto
<br />- -- -- --dssa-gaya6le--r-lanarsia favoz Qf _a_ttd in_fortn- acceptable to the mogagee. In event of loss, mortgagor will give
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<br />immediate notice in writing to mortgagee, and mortgagee may make proof oC loss 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 irsurance 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 propertv damaged or destroyed. In event of foreclosure of this
<br />mortgage, or other transfer of title to said propertv in extinguishment of the indebtedreaa secured hereby, all
<br />right, title, and interest of the mortgagor in and to any imurance policies then in Corce shall pass to the
<br />purchaser or tnortgagrr or. at the option of the mortgagee, may hr surrendered for a refund.
<br />g. He will keep all buildings and other improvements ou said proprrh io food repair and condition:
<br />will permit, commit, or suffer no waste, impairment, deterioration of said properly or anv part thereof:
<br />in the event of failure of the mortgagor to keep the buildings ou said prrnuses and tho>e erected on said
<br />premises, or improvements thereon, in good repair, the mortgagee utav uwkr such repairs as in its discretion
<br />ii mac deem necessan~ for the proper preservation thereof; and the full amount of each and r+er+ such
<br />payment shall be immediately due and payable. end shall be secured by the lien of this mort~agc.
<br />h. He will not voluntarily create or permit to be created against the property subject to this mortgage any
<br />lien or liana interior or superior to the lien oC this mortgage without the written consent of the mortgagee; and
<br />further, that he will Keep and maintain the same free from ills claim nt all per>un- supphing Iabur ur
<br />materials for construction of any and all buildings ur impro.ement. nos twing .reefed ar to hr steeled on
<br />said premises.
<br />i. Hr will no[ tent or assign ants part of the retu of sa i.l mortgaged pn+prrh or demnli.h. ur rrmo+e-
<br />ur sabstantiallc alter any huilding witi:out the written : nnsrut of the mortxa For-.
<br />j. A]! awards of damage; ut connection with au} eortdenutatimt fur public u.r of or injure to anv of t6r
<br />prolx•rty subject to this mortgage are irerebs assigned and shall be paid to mortgagee. who man appl} the
<br />=ante to payutrnt oC the installments last due under said nuts, and nturtgagee i. herehv authorized, in the
<br />name of the mortgagor, to execute and deliver valid acquittance- thereof and to appeal from am such award.
<br />k. 'Fhe mortgagee shall Gave the right to inspect the mortgaged premiK•• at any rr:+.ouablr lime.
<br />2. Defauh in any of the coveaanta or conditions of this ittatrument or of the note or loan agreement secured
<br />hereby shall terminate the mortgagors right to posaeaaion, use, and enjoyment of the propertv, at the option of the
<br />Mortgagee or pia assigns tit being agreed that the mortgagor shall have such right until default 1. Upon any ouch
<br />default, the mortgagee shall become the ownee of all of the yenta and profits accruing after default as securiiv
<br />for the indebtedne~ secured hereby, with the right to enter upon said property for the purpose of collecting each
<br />mats and pradiU. This instrument shall operate u an seaigtuaent of any rentals on said property to that extent.
<br />59A FO FM 92a f2-73t
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