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<br />•Said promissory note was given to eecure 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 o[
<br />the Stta~ll Business Administration (13 C.F.R. 101.1(4) ], this instrument is to be construed and enforced in accord-
<br />ance with applicable Federal law.
<br />I. The mortgagor covenants and agrees ae follows:
<br />a. He will promptly pay the indebtednem evidenced by said promissory note at the times and in the
<br />manner therein provided.
<br />b. Ho will pay all taxes, assessments, water rates, and other governmental of mat'ucipal charges, fines, or
<br />impositions, for which provision has not been made hereinbefote, and will promptly deliver the official reccipt&
<br />therefor to the said mortgagee.
<br />c. He will pay such expenses and tees ae may be incurred in the protection and maintenance of said
<br />property, includeng the fees of any attorney employed by the mortgagee Eor the collection of any or ell of
<br />the indebtedness hereby secured, or foreclosure by mortgagee's sale, or court proceedings, or in env other
<br />litigation or proceeding aRecting said property. Attorneys' fees reasonably incurred in env other way shall he
<br />paid by the mortgagor.
<br />d. For bolter sxcurity of the indebtedness hereby secured, upon the rcyuest of the mortgagee, its
<br />successors or assigns, he shall execute and deliver a supplemental mortgage m umrtgages coveting am
<br />additions. improvement, or bMterments mode to the property hereinuhoye described and all propertt
<br />acquired by it after the date hereof i all in form satisfactory to mortgagee i. Furthrnuore, should ntortgaKnr
<br />fail to sure and default in the payment of a prior or inferior encumbrance ou the property described b~
<br />this instrument, mortgagor hereby agrees to permit mortgagee to cure such default, but mortga;. ~ is ant
<br />obiigatrd to do su; and such advances shall herontc part of the indehuvlm•ss .reared h~• this in-tnnnent,
<br />subject to the same terms and conditions.
<br />.•. "I'Fte rights created by this eonvcrance shall remain iu full fon•e and rtfect during nut pus[puneu,rn!
<br />or extension of the time of the payment of the indrh[ednes.. ryidrncrd by paid prmnissnry note or and part
<br />thcreofsecured hereby.
<br />/. He will continuously maintain hazard insurance, of each type or types and in such amounts as the
<br />mortttagee may From time to time rryuire un the improvement. now ur 6r•rraftcr nn ,aid proprrtt, :uul
<br />will pay promptly when due any premiums therefor. All 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 form acceptable to the mortgagee. In 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 w make payment for such
<br />lose directly to mortgagee instead of to mortgagor and mortgagee jointly, and Ehe insurance proceeds, w• env
<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 o[ the property damaged or destroyed. In event of foreclosure of thin
<br />tuortgagr, or other transfer of title to said property in extinguishnteot of the indebtedness secured hereby, all
<br />rirtht. title, and interest of the mortftaQOr in and to anti° insurance policies then in force shall pass to the
<br />purchaser or n+nrtgagrr or, at Ihr uptiote of the mortgagor, may hr .urrrudrn•<I for a refund.
<br />g. Hr will keep all bnilditt~ and other imµruteutrut~ on *aid property iu gaud repair :utd M.~dititu+-
<br />will permit, commit, or suffer nu wants, iny+uirmenl, deterior;Uimt of said proprrh or any part thrrroL•
<br />in the event of (ailur,° of the uutrtgagor to keep the buihlinKs uu said µremirr, and thn~_r rn•ctrd wt said
<br />pren+isrs, or improvetnrnts thereon, in good regain the ntortRugre u+u} woke ,urL repairs a- in its disrrrtintt
<br />it may deem nerrssan for the proper fuesrryatiun tl+rrcof: :uul the lull amount of e•a+•I+ and rccrt .ne6
<br />payment shat! 6r imntrdiate•Ic dnr and pa~ablr; and shall Lr .reared bt li+c• lieu of thi. nu,rtgagc.
<br />h. lie will eat voluntarily create or perntii m br +•reatrd against the proµrrty subject to this mortgage any
<br />lien or liens inferior or superior to the lien of thin mortgage without the written consent of the ntortgaµre; seal
<br />furthcq that hr will keep iu+d maintain tf+r ..our In•r from the vlaim cif all prr..unn .upl,h tug labor ut
<br />materials fur conetntctiun of auc wul -all building. ur improu•unvtR now bring rn•rlyd ur tc, be rrrctrel on
<br />said premises.
<br />i, Hr will not rent ur o,wign and part of the rear of .aid mortgaged pn,perh or drmoli~h, or erns++o,
<br />or substuntialh~ alter any huildiuµ without the written consent of the utortgaker.
<br />~. All awards u( duntages iu rouurctiuu with auk condruuratiou her public a>c cd or ucjui ~ i„ nut of tln
<br />prol;rrl~ >trlrjrct to this ncurkgagr a€r br€t_I+ti aw_~.i~,t+rd aml +ltall 1rr Irai,l ttt ttt;t€t;;agcr. who ors. apply tltr
<br />~an+r to pa.uu°nt cif the inst;dhurnls Ic.+t ,htr under said rote. ,nul murtFagre i-, hr€rhy attthoriard, itt the
<br />uantr of the mortgagor, to execute and deliver valid ac+luittance, tltrreof and to appeal from not such aw;ud,
<br />k, I'he n+ortgager shall have the right to insµecl the mortgat4rtl premise. at nut rra.ouable tour.
<br />2. Default in any of the covenants or conditions of this instrument ar of the note or loan agreement secured
<br />hereby shall terminate. the mortgagor's right to possession, use, and enjoyment of the property, at ihr option of the
<br />mortgagee or his assigns (it being agreed that the mortgagor shall have such right until default 1. Upon any such
<br />default. the mortgagoe shall become the owner of all of the tents and profits accnrin{; after default as secnrih'
<br />for the indebtrdncsa secured hereby, with the riaht to enter upon mid property for the purpose oC collecting such
<br />rents and profits. This instntment shall operate as an assignment of any rentals on said property to that extent.
<br />anA FORM 928 12-13)
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