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<br />79- ~a~ss5
<br />Said promissory note was given to secure a loan in which [he Small Business Administration, an agency of the
<br />United Stale9 of America, has participated. In compliance with section 101.1 (d) of the Rules and Regulations of
<br />the Small Business Administration [13 C.F.R. 101.1 (dl ], this instrument is to be construed and enforced in accord•
<br />saes wish applicable Federal law.
<br />i. The mortgagor covenants sad agrees as follows:
<br />a. He will promptly pay [he indebtedness evidenced by said promissory note at the times and in the
<br />manner therein provided.
<br />b. He will pay all fazes, aseesamenta, water rates, and other governmental or tra:.;iipai charges, Snea, or
<br />impaeitions, for which provision has not been made hereinhefate, and will pramptl} 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 aasd
<br />property, including the Fees of any attorney employed by the marigagee (or the collection of any or all of
<br />the indebtedness hereby secured, or Coreclosure by mortgagee .• sale, ar co::ri proceed ink>, or in any other
<br />litigation or proceeding affecting acid propem~..~ttornevs' tees reasanahh incurred in am other w~ac shall 1rP
<br />paid by the mortgaKOr.
<br />d. For better securih' of the, indebirdne` hereby secured, a}K+^ the u•yursi n( the mortgagee, Its
<br />successors or assigns, he shall execute and deliver a supplemental mortt;a_r or n+.+ri_ages roerring am
<br />additions improvements, or betterments made to the property hrrcinabua•• drscnbed and all proprrh
<br />acquired be it after the date hereof fall in toner satisfactory to mortgagee ~ . PurtLrnuarr, should mortgagor
<br />fail to cure anc default in the payment of a prior or inferior rncumbraucr ou ihr proprrta desrrihed by
<br />this insirun:ent, rortgagor hereby agrees to permit mortgagee to rare snrh de(autt. but mortgagee• is not
<br />obligated io do so; and such advances shall become part of il!P indrbt.,inr•• •+-.~un•d ha this iteinlmenG
<br />subject to the szme terms and conditions.
<br />.•. The right- created be this wnyevanee -hall remain iu full fun~r end ritrct +itviug aua pustputtewrnt
<br />or rzteliion of the time of the paa~ttent of the iudrhiPdnr.. eaidrnw•d h. •aid pratui.~on_ n,+ir or am hart
<br />thereof secured hereby.
<br />f. He will coatinuoush maintain hazard insurance, of such type ar types and in such amotmU as the
<br />n:arigagce mac from time to tir._r require ou the iml+rmements new ur hrrraiirr ou .rid propene, .end
<br />wilt pay premptly when doe any premiums therefor. All insurance shall be carried in companies acceptable
<br />to mortgagee and the policies and renewals thereo( shall he held be mortgagee and have attached thereto
<br />Inca pacabk clause in faaar of and in form acttptable to the mortgagee. In eaent of loss, mortgagor will give
<br />immediate notice in carting to mortgagee. and mortgagee may make proof of loss if not made prnmpth' by
<br />mortgagor, and each insurance company conmrned is hereby authorized and directed to make payment fur such
<br />loss dimtly to mortgagee instead of to mortgagor and mortgagee jointly, and the insurance proceeds, or any
<br />part thereof, mac be applied by' mortgagee at its option either to the reduction rf the indebtedness hereby
<br />secured or [o the restoration or repair of the property damaged ar destmced. In event of fomlosure 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 anc insurance policies then in force shall pass to the
<br />purchaser ur mortgagrr ar, at !br ontimt of the Mort CaEre, utaa Ix surrendrn•d for a refund.
<br />,r- He will keep all buildings and other intproaements au said proprrta in gaud repair and condition:
<br />silt permit, commit, or su$rr no waste, impairment, deterioration of said l,rctperty or any part thereof;
<br />in the caret of failure of the nmrtgagar to kerp the buildings uu -aid prru,ises and those erected on said
<br />perm i.PS, ur impm+emenis thercou. in gcrod repair. the mortgagrr maa tuakr sueie repairs as in its discretion
<br />it may deem nei^essan fur the proper prrsrraatioa thereof_ and the fell uuauut of racL and rases •nrh
<br />payment „hall be immediatrl+ clue and l.aaa6lr: and shall br secured by ter lien of thin mon~ase.
<br />A. He will not voluntarily creaxe or permit to be created against the property subject to this mortgage any
<br />lien nr lien inferior or sut.crior to She lien of this mortgage without the written consent of the mortgagee; and
<br />IurlLer, that he will ire}, and maintain the sa+ur Irrr from the claim ,d ell per-ons -upld+in~ lobar u+
<br />materials for rorLtruyhan of ana at:d ail buildings ur itnpruarm--nt- nna. bring «r.vtrd ur to hr Prerted au
<br />said prentises_
<br />+, HP will out rent ar a. -ign one l+ari ai the rent ul -.aid mort_3_rd pr~l„-eta ar demolish, or rrpto+r.
<br />+:r suh.tan;ialla alter one building without ihr x-ritirn ran<rut ai the mortgagor.
<br />j. _tLli awards of damrgee In ennr:rciion with ana cundenolatimt fur 1+ubiic uv of ur mjun to aua of the
<br />pro}rrta subject to this mortgage are hereby assigne+l and shall be paid to mortgagee, who may apple the
<br />.ante to puantrnt of the installments la-t doe under -aid note, and uwrtgager is herrba authorized, in the
<br />fume of the mortgagor, to et+rrutr and driiaer aalid arquittaucrs thereof and to appeal frutn ana -nrh guard.
<br />k, T`hr nwrtgagee shall Naar the right m insprrt the nutrigat:rd prrmiH•- at ana rrasunablr time.
<br />2, Default in say of the ooreaanla or rendition o! this instrument or of the note or loan agreement secured
<br />hereby shall terminate the mottFagoi s ri~tt to }wasession, use, and enjoyment of the property, at the option of the
<br />mt~igagtx nr his asaigrts +it being agreed that the martgaRar shall Kaye such right until default 1. Upon any such
<br />default, the morigaRee shall become the owner of aB of tht rents and profit accruing after default as security
<br />for the inde'ntednese secured hereby, with the right to enter upon said property Eor the purpose of collecting each
<br />rents amd pro&ta. 'T'his instrument shall operate as tm at+aipiment of any rentals on said property to that extent.
<br />}_r nil-L~+. -
<br />ssa ear-tan aze tz-~st
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