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79- j0i3~t~•::~b
<br />Said promissory 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 and Regulations of
<br />the Srrsall Business Administration [13 C.F.R. 101.1(4) 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 l.re
<br />manner therein peovided.
<br />b. He will pay alt taxes, assessments, water rates, and other governmental or maricipal 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 he incurred in the protection and maintenance of said
<br />property, including the fees of any attorney employed by the mortgagee for the collection of any or all of
<br />the indebtedness hereby secured, or foreclosure by mortgagee's sale, or court proceedings, or in any other
<br />litigation or proceeding affecting said property. Attorneys' free rcasonahh incurred in am othee way shall he
<br />paid by the mortgagor.
<br />d. For better security of the indebtedness hereby secured, upon the request of the +nortgagee, its
<br />successors or assigns, he shall execute and deliver a supplemental mortgage or mortgages covering any
<br />additions, inyrrovements, or betterments made to the property hrrrinabuyc described :md all property
<br />acquired by it after the date hereof call in form sutisfarton to ntortgagee~. Furt6rnuorr, should mortgagor
<br />(ail to cure say default in the payment of a prior or interior encumbrance ou the propertc described by
<br />this instrtm+eat, mortgagor hereby agrees to permit rnortgagee to Pure attrh defauh, but !nurt~ugre is trot
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<br />subject to the same terms and mnditione.
<br />r. 1'I+r rights crratrd by this cameyance shall remain in full force and rBect during any pustponrnuau
<br />ur rstension of the time of the payment of the indebtedness ecidPncerl by -aid prmui.+rory note or am part
<br />thereoEsecured hereby.
<br />J. He will continuouah• maintain haaard insurance, of such type or types and in such amounts as the
<br />mortgagee may from time to time rrquin• un the ingxo\rments now ur hrrru[ter on .aid proprrh, :uul
<br />will pay promptly when due any premiums therefor, Al! insurance shall be carried in companies acceptable
<br />to mortgagee and the policies and renewals thereof shall he held by mortgagee and have attached thereto
<br />lose payable clauses in favor of and in foznl acceptable to the mortgagee. En event of loss, mortgagor will give
<br />immediate notice in writing to mortgagee, and mortgagee may make proof of loss if not made promptly by
<br />mortgagor, and each insurance company concerned is hereby authorized and directed to make payment Ior such
<br />loss directly to mortgagee instead of to mortgagor and mortgagee jointly, and the insurance proceeds, or env
<br />part thereof, may br applied by mortgagee at its opliat either to the reduction of the indebtedness hereby
<br />secured or to the rrstoraNon or repair of the property damaged or destroyed. In event of foreclosure of this
<br />mortgage, or other transfer of tide to »aid property in extinguishment of the. indebtedness secured hereby, aft
<br />ctgftt, tttle, and it±trrest of the ntartgagur in and to any insurance palieies then iu fares shall peas to the
<br />n+rchaser ar morikat;e•r or, al lhr o lion u[ the mutt a rr, a+:u by sorn•ndrred for a reload.
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<br />}t• !tr w•il) kelp all buildings cud ether intpra\rntents an eairl property in i;ood repair .tttrl Pumlitiau:
<br />will prnait, commit, or suffer no waste, impairment, deterioration of said prupr•rh' or any part thereof:
<br />im the event of failure of the mortgagor to keep the buildings ntt said prrmise> and those crested an sold
<br />premises, ur improven+rnts thereon. in good repair, the ntorlgagE•P Itla\' tllake 9me11 h'I,U lrn Jr 111 Ile EEI%e retina
<br />it only deem nreessarc fur the proper presrryutiou thrrrof; and the Eull antcrunt of each :+ud rvry ..++Ph
<br />payu+rnt ..hall be inanedi:nrk doe :uui pay uhlr: Jnd shall hr .rrurrd b\ the lieu of thin auu•tgat:e.
<br />h. He will not voluntarily create or perntit to be crratrd against the property subject to this mortgage any
<br />lien ar hens inferior or superior to the lien of this mortgage without the written consent of the mortgagee; and
<br />iurthrr, [hut he will kreEi ;wd muintaut the .•;unr Irrr from the rl.+iw ut all prnans supphing labor ur
<br />I materials for ronstrurtion of .uty and all building, ar impnn rnu•nt> uo\. h,•in+; ,•nvtrd nr to he err•etrd on
<br />said pn•ntisrs.
<br />+. Hr will not rent ur areign an\ part of the rent of slid nu,rtgaµed prolrrry ur ,ic EUUli-h, ur rrneu, r.
<br />ur st+hsuuuiulk aher ,uly hoihltnic without the wriurn rrusrnt of the nn+rtFagrr.
<br />j. All awards of dantJgrs iu couuretiuu witl+ uuy cundenluution Ear publiv use of or injul\ to an\ u( tlu•
<br />proprrt) snbjrci io it+is nu+rigagr err Irrrrbc ussigncd :md shall hr paid to nturtgager, who ma\ app(v the
<br />~antr to pu}went of ll+e itt~tullmrnts Lt-t due under said nuh•--, sad mortgagee iA hrrrb\ authorised, im the
<br />nano` ol• t6c nwrtgagur, to execute and drli\rr \alid aeyuitluner~ tlu•rruf uud to appeal frnn+;ul\ such award.
<br />k. '1'hr nwrtgager shall pace the right to inspret the nutrtµuged prr+uisr•.:u any reasonable time.
<br />2. Default in any of the covenants or conditions of this instrument or oC the note or luau agreement assured
<br />hereby shall terminate the mortgagor's right to posateaion, use, and enjoyment of the property, at the option of the
<br />mortgagee or his assigns tit being agreed that the mortgagor shat) Kaye such right until default). Upon any° such
<br />default, the mortgagee shall hernme the owner of all of the rents and profits aPCruing after default as securty
<br />• for the indebtedness secured hereby, with the right to enter upon said property far the purpose of collecting such
<br />rents and profits. Thin instrument shall operate as an aaaignment of any rentals ou said properh• to that extent.
<br />SBA FO HM 928 t2-731
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