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<br />73-- UU37~'t4
<br />Said promissory note was given to secure a loan in which the Small Business Administration, an agency of the
<br />United States of America, has participated. In compliance with section 101.1 (d) of the Rules and Regulations of
<br />the Shall Business Administration [13 C.F.R. 101.1(41 J, this instrument is to be construed and enforced in accord-
<br />ance with applicable Federal law.
<br />1. The mortgagor covenants and agrees as follows:
<br />a. He will promptly pay the indebtedness evidenced by said promissory note at the times and in the
<br />manner therein provided.
<br />b. He will pay all taxes, aseesaments, water sates, and other governmental or m:at;cipai charges, fines, or
<br />impositions, for which provision has not been made hereinbefore, and will promptly deliver the official receipts
<br />therefor to the said mortgagee.
<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 far the collection oC any or all of
<br />the indebtedness hereby secured, or foreclosnre b}' mortgagee's sale, or court proceedings, or in any other
<br />litigation or proceeding affecting said property. Attorneys' fee, reasonable incurred in am other war shall be
<br />paid by the mortgagor.
<br />d. For better security of the indebtedness hereby secured, upon the request of the mortgagee, its
<br />successors or assigns, he shall execute and deliver a supplemental mortgage m mortgages covering anc
<br />additions, improvements, or betterments made to the properh' 6ereinnbo+c described :md all propert}'
<br />acquired by it after the date hereof tall in form satisfactory to mortgagee i. Furtlu•nnnre, should mort¢agor
<br />fail to curs any default in the payment of a prior or inferior encumbrance on the properh described by
<br />this instrument, mortgagor hereby agrees to perntit mortgagee to rare such default. but mortgagee is not
<br />obligated to do so; and such advances shall become part nt the indehtrdnrss enured by this instnunen4
<br />subject to the same terms and conditions.
<br />e. The right= created by this eoncecance ,hail remain in full tone and rlfect during au+ pustponeurrnt
<br />or extension of the time of the payment of the indebtedness evidenced be said promicnrv note or an+ hart
<br />thereof secured hereby.
<br />f. He will continuously maintain hazrzd insurance, of such type or types and in such amounts as the
<br />mortgagee map from time [n time require on the improvements now ur 6rrrafter uu said prnprrtc, :mil
<br />will pay promptly when due ant premiums therefor. All insurance shall be carried in companies acceptable
<br />to mortgagee and the policies and renewals thereof shall be held be mortgagee and have attached therew
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<br />loss payable clauses in favor of and in farm acceptable to Ehe mortgagee. in event of ions, mortgagor will give
<br />immediate notice in writing to mortgagee, sad mortgagee may- make proof of lass if not made promptly by
<br />mortgagor, and each insurance company concerned is hereby authorized and directed to make payment for such
<br />lass directly to mortgagee instead of to mortgagor and mortgagee joint}}-, and the insurance proceeds, or any
<br />part ther~oF, may be applied by mortgagee at its optioa either to the reduction of the indebtedness 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 force shall pass to the
<br />purefiaser or mortgagee or, at the option ui the mortgagee, may be surrrndrr+•d Gtr a refund.
<br />g. He will l-eep all buildings and other improvements on said proprrt} iu good repair tool condition:
<br />will permit, commit, or suffer no waste, impairment, deterioration of said properh or av}' part thereof;
<br />in the event of failure of the mortgagor to keep the buildings ou said premises :md those erected mt said
<br />premises, or improvement; thereon, in good repair, the mortgagee may make such repairs as in its discretion
<br />i! may deem necessan~ for the proper presen~atiwt thereof; sent the full amount of each and reset >nch
<br />payment shall be immediately doe and payable; and shall be .rcnred b+ tier lien of thi- mortgage.
<br />h. He will not voluntarily create or permit to be created against the properh- subjeri to this mortgage any
<br />lien ar liens inferior or superior to the lien of this mortgage without the written consent of the mortgagee; and
<br />further, that he will Jeep and maintain ihr -suer Irrr from the rieim of all }n•nonr ~uppkin~ laiwr or
<br />materials for ronstructiun of anc and ail buildings nr irnpnnemrnt> now print; rrerted nr to hr rrertrd nu
<br />said premises.
<br />is Ne will not rent or assign an} part of [be rent of said mortgaged property nr demolish, or rruu,+c.
<br />or >ubstantialh~ alter ant building without the written rnn-rut of Ihr mortga~rr.
<br />j. All awards of damage- in tonurriiun with ant cundenmalimt for puhlir use of r.: iujur+ to sett u( ihr
<br />property subject to this mortgage are hereby assigned and shall br paid a> ntortgager, who mac apply the
<br />same to pa~ntrnt of the inetailnte-nts le.t due under said Hole. and nrurtgager i- hereby authorized, in the
<br />name of else mortgagor, to rtiecutr and deliver talid ac ,uittances thereof and to appe:d from tote such atyanl.
<br />S. The mortgagee shall have the right to inspect the mortgaged premise. at anc rrasnnablr time.
<br />2. Default in any of !be ttovenanls or conditions of this instrument or of the note or loan agreement secured
<br />hereby shall terminate the mot•[gagor's right to p.,taeaession, use, and enjoyment of the propertti-, at the option of the
<br />mortgagee or his assigns !it being agreed that the mortgagor shall have such right until de{sole). Upon any ouch
<br />default, the mortgagee shall become the owner of all of the rents and profits accruing after default as security
<br />for the indebtedness secured hereby, with the right to enter upon acid property for the purpose of collecting such
<br />rents and profits'llfis,i~trument shall operate as an assignment of any rentals on said property to that extent.
<br />SBA Fp RM 92812~~31
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