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84- ~'72CI-
<br />Said promissory note was glean Id secure a loan in which the ~r Ettsiaseis Administration, as agency of the
<br />1lttited States of .~merkca, hu partiefpated. la compliaaee with eectiwt 101.2 (dl of iht Ruks attd RegSFatiwts of-
<br />the Snmll 13utineu Administration i 13 C.F.R. 102.3 ! d i J, this itaatrvnrerst is to be construed and enforced in aeeord•
<br />aaseo wills applicable Federal law.
<br />1. The +nortgagor ooveoanb and agrees as follows:
<br />a. He will promptly par the iB~btedt>kas evidenced by wild prottaissory note at t>te lilacs atad its the
<br />manner therein provided.
<br />b, He will pay all fazes, areaxneata. water rates, and other goverstments) o€ mt:nieipal oitarges, fines+ of
<br />impositiota, for which proviaioa has not been made hereinbefttrc, and will prompt2r deliver the o6eial reeE3plit
<br />therefor to the said mortgagee.
<br />c. He will pay eoc2t tzpeaeea and fees u may be itwirred is the prouction and maintenance of said
<br />property, including the fees of any attamey employed by the mortgagee for the collection of spy or all of
<br />rhr indebtedaess hereby secured, or foreclaeure hr mortgagec'n sale, or court proceedings, or in any other
<br />!kliRation or proceeding aAeeting said pmpeny. Attornecs' frw.rc reasonahly incurred in anv other way shall he
<br />paid by the mortgagor.
<br />rl. Fvr better security of the indebtedness hereby ,ecured, upon the rryurst of the mortgagee, its
<br />atceeasors or assigns, he shall execute and deliver a supplemenia) murtgat;e ur mortgages covering anv
<br />addiNonr:, imprusernents, ur betterments made to flee properh hereinabove de=cribed and ail properi}
<br />acqutrerl by it alter the date hereof ~ all in form satisfacton to mortgagee ~. Furthermore, slmuld mortgagor
<br />fail to cure auy default in the payment of a prior or inferior encumbrance un the prupeity described kn
<br />this instrument, mortgagor hereb} agrees to permit mortgagee to wee such default, bu[ mortgagee is not
<br />obligated to do so; and such adyancee shalt become part of the indehu•dne±~ =reared by this instrument,
<br />subject to the game terms and conditions.
<br />e. The rights created by this eonveyanee shalt remain iu lull force uaol ekfect during auy poelpmirnirnt
<br />or eatenskon of the time nC the pat~nent of the indehtednetic eyidenerrl by .aid pmmiw~rv note or anc part
<br />thereof secured hereby.
<br />f. He will continuously maintain hazard insurance, of suck[ type or types and in such amoimb as the
<br />mortgageo cosy from time to time rryuirr ou the inipruvementn now ur herenflrr un raid proprrir, :uul
<br />will pay promptly when due any premiums therefor.:1<ll insurance shall be carried in companies acceptable
<br />to mortgagee and the policies and rermwals thereof shall be !:ctrl by mortgages and have attached thereto
<br />loss payable clauses in favor of and is form acceptable. to the mortgagee. [n event of Fuse, mortgagor will give
<br />irnmediste suttee in writing tv mortgagee, sad mortgagee may make proof of loss if not nsade promptly by
<br />mortgagor, and esrh itisuraace company concerned i. liereb} authorized and directed iu make payuteni for such
<br />loos directly to mortgagee instead of to mortgagor and mortgagee jointky, and the insurance proceeds, or spy
<br />part tbetxmt, may be applied by mortgagee at its option eithr_r to the reduction of the iutdebtedaese hereby
<br />scoured yr to the rrstoratioa yr repair o[ the property damaged or deatru}ed. !n event of forecl~ure 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 is sad to any insurance policies chap ip force shall peas to the
<br />purchaser rte mortgagee ur, at the option of the tnurtgagre, cosy ku =+arrend,•rt+cl !'<:r a refund.
<br />g. He wild keep all buildiaga and other improv:rtnentn un maid proper[} iu rood repair and runditiou:
<br />will permit, ronunit, or suffer no waste, impairment, deterioration of said property or an.' part ihereo(:
<br />in the event of failure o[ the mortgagor to keep the buikdingn on cold lrremise~ and [Im~r erected vn said
<br />premises, or improvement. thereon, in good repair. the mortgagee stay snake Each repairs a- in its discretion
<br />it »tay deem necessan for the proper prreervatiou thereof: and the full antouut of each and every each
<br />payment shat) be immediateks doe and payahie: and shat) he secured by for lien of this utortgsgr.
<br />h. He wilt not voluntarily create or permit to be crested against the property subject [o this mortgage any
<br />lken or liana inferior or sukeerior to the lien of this mortgage without the written consent of the mortgagee; and
<br />further, that he will keep and mniutain rhr •ame frrr frurm ih„ claim ~•t all prr.•uns -uppl}ing lahur ui
<br />materials for construction of auy and elk buildings or intpruveni.=ntr now being .crated or to br• erected ou
<br />4a1(1 prenlieCe.
<br />.. flr a:!! oat ern: ar a~sipn ar.: 1;ar::,f ilia r:: r.:.,f Baia ruarttZatted prup.~rt. ..r ~!rmulidt. ur croon e'
<br />ur substantially alter auy building without the written ruusem rd'the nturtgagee.
<br />j..~UI awards of damages in ennueMiua with anv couderutwtion for pubkir u.r of ur imjun b. an} ul tl+,•
<br />prop.•rt} .tihjrct to thin rmortt;agr are hereby assigned and shall be pall to nrmrtgagec, who xtta} appl} the
<br />-ante to pa.urent of doe instal{mruts to>t arse under +aid nuts, acrd nwrtgagrr i- here=ht :urlhorized. in rhr
<br />itanee of tkse mortgafitrr, tv execnle and deli+rr valid aryuittattcra t!}rreuf auo4 to appeal from anv such awanl.
<br />k. k'ftr uturtµaisrr shall kta+e rhr rght to mspert rhr mortgaged preteti++e> at any rea=ouablr tour.
<br />2. Defauh in any of lire covenants or conditiotu of this instrument or of the note or Loan agreement secured
<br />hereby shalt terminate ttrr, mortgagor's right to poasrasion, use, and rnjoyinent of rhr property, at the option of the
<br />n=nrtgligee or his assi{CnB tit >;einq agreed that the mortgagor shall have Such right until default}. upon any each
<br />dr[auh. the mortgagee shall hrrua.e the owner of nil of 4ite rcn[s and profits accruing after default as w•nority
<br />for the inrlebtcdnrss secured beech}', with tlee riXhE to enrr upon said proprrt} for the purpose of rvttlreting such
<br />rents and profits. Thin insuumrnt shall operate as an araigttment of sap rentals un said property to that extent.
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