|
~gei QtTG9f?ts7
<br />Said promisaoty cote was given to secure a loan in which the Small Business Administration, an agency of ehe
<br />Uni€ed Stag of Atneriea, has participated. In compliancy with rec':an 141.1{d~ of the Rules and Regulations of
<br />the St®11 $ttsiness Administration (13 GF.R_ 141.1td1 j, thin instrument is to be construed and enforced fn areord-
<br />aatx with applicable Federal Lw.
<br />1. The lnottgagnr eovenanta and agues as follows:
<br />at. He will ptctmptl: p:y the indebtednes evidenced by said plvmiasory rate at the timce and in the
<br />tnnnau therein grocided.
<br />b. He will pay all tazea, amearmeata, water rates, and other goyeramental or mtt;.icipal rhargee, fitter, Iu
<br />imgaaiiions, for which provirioa has not been made hereir_before, and will promptly deliver the official ret-2iytr.
<br />thetelor to the acid ~6+6ce-
<br />e. He will pay such e:penxr and fees as may be incarred in the protection and maintenance of uid
<br />property, including the F~ of any attorney employed by the mortgagee for the collectfoa of arc or all of
<br />the iadehtedtxss hereby secured, or foneela_QUre by mortgagee's stie, or court pmceerlings, ur in arc other
<br />litigation or proceeding affecting said property. Attorney: f~ reasonably incurrcrl in any other way shall be
<br />paid by the mortga{toc
<br />d For berier security of the indebtedness hereby secured, upon the reyuest of the mortgagee, its
<br />aocceaaora ar a:~gn~ he shall execute and delicrr a supplemental mnrtkrge ar nlariy;ages revering any
<br />additions, improvements, ar brttermeais made to the property hcreinabuyc tie.cribed end all property
<br />acquired be it after the date hrteoE ! al) in form satisfactory to nrongager ~. Furthennorr, should mortltagnr
<br />ryt .e _:. aar_-'t' :s .l._a a . at ~ ;.,t..~:a..~ ...}..,~...-~..,. :t.... .are.- .t.._,•r:t.ad f,.~
<br />Chit instrument, mortgagor hereby agrees to permit mortgaKee to .cure such defauh, but utortKagre is not
<br />obligated to do so: and such adyanct_ shall become part of the indebtrtinc.< -retired by thin in-torment,
<br />sttbjrrt to the same terms and conditions.
<br />r. The rights treated by this ronyeyane+e sha11 remain in fulf force rod effect duriu~ ant pustiwlerutrnt
<br />or uteavon of the time of tltc pacmrnt of the indebtedness evidenced b: -aid pronti: vyn~ n}rte or any Mari
<br />tkrrc+ol secured iureby_
<br />f. He will ctmtinuously maintain hazard imsuranr ; of such type or types and is such amotmta as the
<br />eaort~Cager may from tine to line -~ryuirr rxt the imprarement> raw nr hrreafirr ttu >air) praprrtt, ,}nd
<br />wall pay promptly when due any prrmiltms therefor. All itnuraace shall be carried in companies atrrptable
<br />to >mt•tgagrr stad the paliciu and renewals thereof shall br held by mortgagee and have attached thereto
<br />ktaa payable rlawes in favor of and io form arttptable to the mortgagee. Ia event of lose, mortgagor will give
<br />simtmediate mtticc in w-ritiag fa tnort{tagre, atad martFagee mac make proof of loan if not made promptly by
<br />mort~or, and each iasuramce company raacrroed is hereby authorised and directed to make payment Eor atteh
<br />ions directly to mortgagee instead of w mortgagor and mortgagee jointly, sod the icsurante proceeds, or nay
<br />part thereof, may be applied by mortgagee at its option either to the reductiaa of the iadebtedttesa heteh}'
<br />seruted ar io the miozaYioa or xpair of the prop~em damaged or drstzayed. la eyrrtt of forrcloaltrr of Ibis
<br />mortgage, or otltrr transfer of tick to acid propertc is eztintvishmrnt at the indebtedness -ecured hereby, all
<br />right, title. amd interest of ti}e mortgagor ut and tw any ituunttcr policies then is forte =hail psss to the
<br />puttytaaer nt morigage~r or. at illy nptiwt of !hr nenrlga~re. way !x .a}rrcndrn"t for a mfunrt,
<br />g. Erie wifl keep ail lntirdimgs and other taiprcrv caicnfs ni; .aid ptaEpeffv itt r -td repair au : yanniiiolt:
<br />will grrtaait, Commit, or toffee no aastC. impxirment. detrriaratinn n. -aid pral}ertc- ur env part thereof:
<br />im the cvertt of failorr nF the mortgagor to Erep the huildittgE nn said prr~tnise> sod tltasr rrrcteri un said
<br />ptentises, rat impmvcatent: thereon. in gaol repair, the mortEagrc uta~ uu.C,r such rrl}airs r: in its thsrrrtion
<br />if may dera neyr~aE~ar'y it# 111Y p[tvpef prrsrrvatinit thereat: and the {n11 an}fi lint Uf Cach alld Pi Pty .tlrh
<br />payment shall be iatmcdiairly dllt anal payable: and sha11 I]r err-ore+i by the Jtru of Chi. mnrt{tair.
<br />k. $e w%13 not s•oluaiarity rrraie az permit to br rtratrd against the propezy subject to thin mortgafCr and
<br />firm tv liens inferior ar saperiar to the firm of this mnngage without the written Consent of the morlgattre; and
<br />fttrtlur, that br w-ill lrep and maintain ihr tan}r dyer frwri Sftr cisilu of all prrwn. :upltit inr lalwr al
<br />aaattrriak far maatruetian of any and all building. ar unpraventrnt. Isot, heir: erected or to ltr errrtrd nu
<br />.,aid pzFatiaEec.
<br />i. Ifr t+ifl not rent ur aesiga any part of the rent of .aid martgagrd pralwrt~ ur drmalish. or rrlo ut e.
<br />.vr .~ub>taatially abet any hnildine without the wriftcn conscltt of ihr mort~ager.
<br />~. All asruds of damages is cortnerliua with arty wndemnation for public one of err iujur+ to ant ut the
<br />f..rnpct°ty subjetY to this mortgage are l:rmby assigned -tad shall be paid to mar:gageC, ahu mat apply for
<br />Ease W laaynleni of ihr iastallatymts last doe under said note, and mortgagee i. hereby authorized, in thr•
<br />naalr of the tamer, t4 tatrcatr and drlitrr valid arquiltanres thereat and to a;}prat frown .try such at.anl.
<br />L. The atoripwger si:all hate the right M ittspert the tnarlgagerf premise. at am rrawatablr time.
<br />t iaa at-y of the covenants to eomditiotn of this instrument ar of the note or Loan agtcemrnt secured
<br />Iweby aittlN frraainate the taottgagor ~ right to possession, one, and enjoyment of the property, at the opiiaa ai the
<br />mantgatgee or lt» atatigns tit ] agreed that the martgagcrr shall have stteh tight until default). Upon any aurh
<br />e4fauh, the ®ott{.aFer shall become the awmrr of all of the teats and profits accruing after default az security
<br />Fhlr ~ t+rrutcd hereby, with ihr tight to mtwr open eaid property for the purpose of col{ecting such
<br />nmes~~: 'T'his iostevmeat aha : operate as as aattignraent of sac rentals on said proprrh• to that extent.
<br />50A fpf2M r2E {2.]t)
<br />
|