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<br />79- ®i~ 4~1.~
<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 Steall Business Administration [13 C.F.R. 101.1(d) ], this instrument is to be construed and enforced in accord-
<br />ance with applicable Federal law.
<br />1. The mortgagor covenants and agrees ae follows:
<br />a. He will promptly pay the indebtedness evidenced by said promissory note at the timm and in .ue
<br />manner therein provided.
<br />5. He will pay all taxes, aeaesementa, water zaten, and tither governmental or municipal charges, Saes, or
<br />impositions, for which provision has not been made hereinbefore, and will promptly deliver the ot4icial re~lpta
<br />therefor to the said mortgagee.
<br />c. He will pay- each 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 Cor the collection of any or all of
<br />the indebtedness hereby secured, or foreclosare by mortgagee's aide, or court proceedings, ar in any other
<br />litigation or proceeding affecting acid property. Attorneys' fees reaannahly incurrcrl in any other wev shall be
<br />paid by ~e .-.-,.crtFagar.
<br />d. For better security of the indebtedness hereby secured, upon the request of the nmrtgagee, its
<br />succeeaors or assigns, he shall execute and deliver a supplemental mortgage nr mortgages courting any
<br />additions, improvements, or brttermenta made to the property hercinaboye deseriberl and all property
<br />acquired b)• it after the date hereof (all in form satisfactory to mortgagee 1. r;unirrnunrr, airuuld;y-r;gaFa:
<br />fail to cute an) default in the payment of a prior or inferior encumbrance mt the property described by
<br />this instrument, mortgagor hereby agrees to permit mortgagee to rare such default, but ntortgugee is not
<br />obligated to do eo; and such advances shat) become part of the inrlebtednrss srrured by this in~trumen4
<br />subject to the same terms and conditions.
<br />r. 1'he rights created by this com~eyance shall remain in full [ores and effect during an) pustparrorrnt
<br />or extension of the tithe of the payment of the indebtedness evidenced b_. said promissory note or an) port
<br />thereof secured hereby.
<br />J. He will continuously maintain haaard ineurancc, of each type or types and is such amotmu as the
<br />mortgagee may from time to time require on the inrpruveturntr now or 6rrrafter mr ,.aid prnperh, and
<br />wit! pay prompth• when due any premiums therefor. all insurance shall be carried in companies acceptable
<br />to mortgagee and the policies and renewals thereof sha!I he held by mortgagee and have attached thereto
<br />lose pa)•able clauses in favor of and in form acceptable to the mortgagee. In oven! of loan, mortgagor will give
<br />immediate notice in writing to mortgagee, and mortgagee may make proof oC loan i( not made promptly by
<br />mortgagor, and each insurance company concerned is hereby authorized and directed to make payment far such
<br />l.,s. d;rPrrly m mnrtanorr instead of to mortgagor and mnrtauaee jointly, and the insurance 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 tits rrsturatinn or repair of the property damaged ar destsavrd. In event of foreclaaure of this
<br />ntartgage, ar other transfer oC title to said property- in extiriguisJ-imrnt of tt,.. indebiedneaa ~eurod herby, a1I
<br />right, title, and interest of the mortgagor in and to env insuratue policies then in Curse 1ta11 par•- to the
<br />purchaser or nrortgagre ur, ut der option of the nutrig:•••rr. rue, ha• ~urrrnden•d Cur .r refund.
<br />g. Hr will keep all buildings and other imprutemrnis ou seiil prnprrl) iu gaud rrpatr and nruditimr:
<br />W III hrfntlt, commit, or suffer no waste, impairment, drteriorution of said property or anc port thrreaf:
<br />in the event of failure of the mortgagor to keep the buildings mt said prevuisr. and tbo..r erected on said
<br />premises, nr improventrnts thereon, in good repair, the mortgagee nrr} make aymh repairs u.+ in its discretion
<br />it may deem nec•rssart for the proper preaervatiou thcr+•nf; .end the full amouru of each out{ rcrrt suelr
<br />payment -hall be imnrrdiuteh due :uul pa)a61e: and shall br ~rcured h~ the lieu ui tbi. murt~a~r.
<br />h. 1{e will not voluntarily create or permit to be treated against the property subject to this maNgage any
<br />lien ar lima inferior or superior to fire lien of this murtg_ age without the written consent of the mortaaare; and
<br />further, that hr will krrp and nruintaiu the +anrr fn•r from the claim ul all persons ~upphirng lalntr ur
<br />nrateriuls fur ruuslrurtiau of am and all buildings ur impnrtruu•nt> m+H h:•iug rn•rtrd ur Ar hr rrretrd ou
<br />said premises.
<br />i. 61r will not rent nr assign and part of the rent of said mortgaged pnrprrt. ur denruli~h, ur remote,
<br />nr subs!:mlially alter at» building witlwnt the wriurn eonseut ..f tlu• mortgaae+•
<br />j. API awards of +lanragra in eatuteetian with any candrnmutimt tar puhtie err of ,tr m{urn h: au) of the
<br />proper!! aubjrrt to this ntortgagr err hereby assigned and shat) lrr paid to ntnrtgagr€, who ma} apply the
<br />>unrr to pa)urr•nt of the installments last due under said Harr, and nrurtguger i• hrreh. authorized, in the
<br />uunrr of dn• nwrtgagaa to rxrcrrtr and deliter yaG<l acquittunee.. thereof and tr. appeal from aft) such award.
<br />k. •I•he ruortgugee shall hour the right to inspect the nwrtgaged premise.. ut any rrusnuable time.
<br />2; Default in any of the covenants or conditions of thin instrument or of the note ar loan agreement secured
<br />hereby shall terminate the moregagar'n right to possession, use, and enjoyment of the property, at the option of the
<br />mortgagee or hie assigns (it bring agreed that the mortgagor shall have such right until default). Upon any such
<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. ritiltt to enter upon said property foe the purpose o[ collecting ouch
<br />rents and profits. This instrument shall operate as an assignment of any rentals on said property to that extent.
<br />SBA FORM 92a (2.73)
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