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<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. Ia compliance with section i01.1(d} of the Ruies and Regulations o[
<br />the Small Btrsineas Administratfoa [13 C.F.R. lOL2(d) ), this instrument is to be construed sad enforced in ac~rd-
<br />ance with applicable Federal law.
<br />1. The mortgagor cnveaanU and agrees as follows:
<br />a. Ilse will promptly pay the indebtedness evidenced by said promimory note at the times sad in the
<br />manner therein provided,
<br />b. He will pay all fazes, aesesements, water rates, and other goveromenisl or mit:ucipal charges, fines, or
<br />impceitions, for which provision has not been made hereinbefore, sad will pzompily deliver the official reixipts
<br />therefor to the said mortgagee.
<br />c. He wilt pay such eapenaes and fees as may be incurred in the protection and maintenance of said
<br />property, including the Fees of any attor•rtey employed by the mortgagee for the collection of any or all o[
<br />the indebtedness hereby secured, or foreclosure by mortgagee's sale, or rnurt proceedings, or in any other
<br />litigation or proceeding affecting said propert}'. Attorneys' fees reasonabh• incnrre<i in any other way 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 />succeesors or assigns, he shall execute and deliver a supplemental mortgage ar mortgages covering any
<br />additions, improvements, or betterments made m the property hereinaboye described and all ptoperh
<br />acquired by it after the date hereof fall in form satisfactory to mortgagee I. Furthermore, should mortgagor
<br />fail to cure any default in the payment of a prior or inferior encumbrance on the property described by
<br />_ a .,..r,,. o ,,, ,.,.moo _.. , .,...~tgsg .._.
<br />this instrument, martgagar hereby -grass *_o , _...it tnortgage .,, _,... .,..cl: ;!efauli, b.:. _..,; ~ ,s ..,.,
<br />obligated to do so; and such advances shall become part oC the irulehtedness secured by this instrumenq
<br />subject to the same terms and conditions.
<br />e. The rights created by this conveyance shall remain i^ Cull (ores and effect during an+ pustpuueutrut
<br />or extension of the time of the payment of the indebtedness evidenced he said pramissnry note or an} part
<br />thereof secured hereby.
<br />/. He will rnnlinuoualy maintain baaard insurance, of each type or types and in ench amounts as the
<br />mortgagee may From time to time require on the improvements now ur hereafter an said properh, :utd
<br />will pay prompQy when doe any premiums therefor. All insurance shall be carried in companies aceeptabie
<br />to mortgagce and the policies and renewals thereof shall be held by mortgagee and have attached thereto
<br />lose payable clauses in favor of and in form acceptable to the mortgagee. In event of loss, mortgagor will give
<br />immediate notice in writing [o mortgagee, end mortgagee may make proof of loss if not made promptly by
<br />mortgagor, and each insurance company coaeerned is hereby authorized and directed to make payment for such
<br />loss directly to mortgagee instead of to mortgagor and mortgagee jointly, and the insurance proceeds, ur 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 destroyed. In event of Foreclosure of this
<br />mortgage, or other transfer of tide to said property in extinguishment of the indebtedness secured hereby, all
<br />right, title, and interest of the mortgagor in and to aay insurance policies then in Cares shall pass to the
<br />purehax3er or mortgagee or, at the option uI the mortgagee, mac be surrendered Gtr a rehtnd.
<br />g. He will keep all buildings and other improvements on ;aid proprriy in gaud repair and cundiiion:
<br />will permit, commit, or suffer no waste, impairment, deterioration of said properh' or any part thereof;
<br />in the event of failure of the mortgagor to keep the buildings ou said premises and those erected on said
<br />premises, or ittiprovements thereon, in gaol repair, the mortgagee stay wake such repairs as in its discretion
<br />it may deem neees_wry for the proper preservatiat thereof; and the full amoant oC each and every such
<br />payment shall be immediately due and payable; and shall he secured by the lien of this mortgage.
<br />h. He will not voluntarily create or permit to be created against the property subject to this mortgage any
<br />lien or liens inferior or superior to the lien o[ ibis mortgage without the written consent of the mortgagee; and
<br />furtleer, that he will keep and maintain the saute free frmn ilte riaim of all persons :applying tabor ur
<br />materials for construction of anc and all buildings or improvements now being erected or to he erected an
<br />said premises.
<br />i. He will not rent ur assign any part of the rent of ,aid mortgaged property or demolish. ur remu, e_
<br />or substantially alter any building without the written consent of the mortgagee.
<br />j. All awards of damages iu connection with an} condemnatimt for public use of or injure to anc of the
<br />property subject to this mortgage are hereby assigned and shall be paid to mortgagee, who may apply the
<br />tame to payment o{ the instaAments-lase due ender said note, and mortgagee is hereby authorized, in the
<br />name of the mortgagor, to execute and deliver valid acquittances thereof and to appeal from any .uch a+vard.
<br />6•. The urortgagee shall have the right to inspect the mortgaged premisr~ at any reasonable Bute.
<br />2: IDefaalt in any o€ the covenants or conditions of Chia instrument or of the note or loan agreement secured
<br />hereby shalt teitniuate the mortgagor's right to posseasioa, use,-and enjoyment of the property, at the option of the
<br />mortgagee or his assigns (it being. agreed that the mortgagor shaft have such right until default). Upon any such
<br />defaul;, the -mortgagee sha[I become -the owtter of all- a€ the canto and profits accruing after default as security
<br />€or the in.~-te8aeea. s~nred hereby: with the right fo enter upon said property for the purpose- of collecting such
<br />rents sad profits. jfltie instrument shall operate.as aft assignment o€ any rentals on said property to that extent.
<br />SBA Fa RM 928 (2.73)
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