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<br />QO•~+ . t~cr~.r3sTi
<br />Said promissory note was liven to secure a loan in which the Small $usineas Administration, an agency of the
<br />Enited States of America, has participated. la compliance with section 107.1fd) of the Rules and [[egrt#ations of
<br />the Shall Business Administration (13 C.F.R. 101.3 i r1 t ~, this instrument is to 6e construed and enforced in sewed.
<br />atmce with applicable Federal law.
<br />1. The mortgagor ewvenanL and agrees aA follows:
<br />a. He will promptly pap the indebtedttees tvidanced by said prombwry note at the time aad io the
<br />manner therein provided.
<br />b. He will psy all taxes, ssrrnemenu, water tarn, and other governmental or mtttt;cipai charges, Ewes, or
<br />impositions, for which provtsiots has not been made hereinbefore, and will ptumpdy deliver the of&ial nosipic
<br />therefor to the said mortgage.
<br />c. He will pay such expenen sad fees as may be incurred in the protection and tmaiatemaaw of said
<br />property, including the fen of any attorney employed by the mortgagee for the eollactioa of say or all of
<br />the indebtedness hereby secured, or foreclosure by mortgagee's sale, or rear! proceedings, or in any other
<br />litigation or proceeding aHectinµ said property. Attarnev~ Tres rearronahl+ incurred in am other way shall be
<br />paid by the mortgagor.
<br />d. Eby better security of the indrhtrdness hereby secured, upon the reyuret of the mortgagce, its
<br />sueceasors or asaiµns, hr shall extents and deliver a supplemental mortget;e or nrortµattes covering an+•
<br />additions, improremerets, or betterments made to the proprrh hr•reinalwye Jesrribetl .rod all properh'
<br />acgrnred 6. it after the date hereof ~ all in fornt ++atiafactorv to mortgagee ~ . Furthrnuorr, sbuuld mortgagor
<br />fail to curt env defaul! in the payment of a prior or inferior encumbrance on the properh' dexribed by
<br />this instnunrnt, nmrtgagor hereby agrees to permit mortgagee to r~ure >urh del'+ult. but mortgatter is not
<br />obligated to do wr: ,rod such adyurces shall hrennte part of the inr{ehtrdnrs .stared hr This instrument,
<br />subject to the same terms and runditiuns.
<br />r. The rights created by this eonaraartCe shall remain iu full force and eHrrt dnriug any puatpuneutrnt
<br />er ext.•nsion of the time of the pavnr~nt n( the indebtedness rvidrnee«! by said promi!wm` ante ur env part
<br />thereof secured hereby.
<br />J. Ho will continuously maintain hazard insurance, of such type or types and in such amotwts as the
<br />mortgagee nrav from time to time rr.fuirr on the iurpruvrrnents nos nr hrrraltrr un raLl pruprrta. :ru+I
<br />will pay pmmpdv when due any premiums therefor. Ali insurance shall lee carried in companies aceeptabk
<br />to mortgagor. and the policies and renewals thereof shall be held ha' mortgagee and hour. attached thereto
<br />lom payable clauses in favor of and in form acceptable to t}re rnurtgagee. fn event of lose, mortgagee will give
<br />immedittte notice in writing to mortgagee, and mortgagee may make proof uC loss if net made promptly by
<br />tnwtgagor, and each inauraucr company euncrrnrd is herehs authuritrd sad dirrrled m make payment for such
<br />loss directly to mortgagee inn[ead uC w nturtgrgur end nturtµvgre juinth, and the Insurance proceeds, ur any
<br />part thereof, may be applied by mortgagee at rte option tether to the rrduetion ui the indebtedness hereby
<br />secure+f err to the rraturatiun ur repair of the property damaµr+l ur +leatrurrd. In ryrnt of forrrleeure of this
<br />mortgage, or other transfer of title to ±aid property its exlinguishntrnt of thr indebtedness secured hereby, all
<br />right, title, and interest of the mortgagor in and to any insurance policies then in farce shall pass to the
<br />Inrrchaarr ur n+urtgagrr or, at the option of the nmrtgager. was br surn•ndrrcd for a reload.
<br />g. Hr will keep all buildings .ntd other impnrarnuntts uu ,aid proper!) w ;;uo+l rrp,tir ,urd runditiou:
<br />will permit, commit, ur suffer no ..rite, impairment. deterioration of .aid propene nr ana port thereof:
<br />in the earns of failure of the nwng,+gnr to krrp the buildings un said premier. :end thoM• e•rrrlyd ou avid
<br />prrntisrs, or improventrnis thrrrou. in good repair, the mortgagor orgy nurkr• .•ucli repairs as iu its dtscrrtinn
<br />it may deem nrer,wry for the proper prrernaliun thereof; and the full amount ul each and terra sorb
<br />payment shall br. immediately due and payable: and shall tw srcrtrrd ha the Iien of this nett! µagr.
<br />h. Hr will not yoluatarih create ur Irerntit to be treated against the pnrprrty subjrrt to this mortgaµe any
<br />lien ur liens inferior ur superior to the Iieu of this nu,ngage without the written ruuserot of the nturtgaµee; sad
<br />further, that hr well krrp and nra urtam Ihr .sort tyre innu the i Iruu ..I .ell prrsuu...uppla inp labor ur
<br />nWlCrials fe[ totter ntcUOtt of out sod ill fruildings or rntprua euv~nr- now br+nµ ,•mrrrd ,u t.. br ,•n•ru+d nn
<br />oriel premises.
<br />Me will not teat or assign any part of the runt of .air! ruortgagrd purprrla nr d+•minish, or rrun,+v.
<br />nr suhslautially alter anc hutlding without the written runsent of the murtµaµer•.
<br />j. .1i1 awards+,f +{amagrs ut couurruuu with vuv .ou+icuurrtum cur pui,he r,s, .d .a tut~ra ^r .++ra .~! rhr
<br />pnrprny ,objets ht this nturtt:age urn hrrrbc aserKurd ,end -hat! by p,ud nr nurnaagra, wlw uuy apply li+c
<br />=amt to pd auto! of the utstalhuents la-t due undr7 said note, cud ntungap,rr i- bertha .r:n hnrrard, rn the
<br />tame of the nmrtµaµM, fa ezeeulr cud delta rr .slid aryuiRanres Ilrrrrcd and t.r appeal from ana .urh ewer,!.
<br />A, fhr norrlµaKr+• -hall base the right n, ursprrt Ihr unreiµaµe•d prwru-r. ,d rna r,-n•orraltlr Ina,-.
<br />2. [hfsuh in any of lhr eevertanU or crutditions of this instrument or of the note or Ioan agrermrnt secured
<br />hereby vha.H trrminatr the rrtungagur's right to pwarnstun, use, and rnjoymrm „f the property, al the option of the
<br />mortgagor or his assians ~ it lrrutµ agreed that the murtgygur shall Naar -urh rrght until default i. [: pun any such
<br /><[cfauh, the nux tpaltrr ,halt l.rrurnr the owner of ail of the rents :utd prolits arxrwng after default as +erurity
<br />for the: tndebtrdnese srrured hrttYry. with the, riahi to rater upon said proprny for the purlwsr nt rottrcting sorb
<br />rrnf, and pvabt.. 'Ch%r inNrumrnt .hall operate as art asslLruaMt of env rentals on _•a+d pruprrty tea that extent.
<br />ao. , _ ~u ,.., ~. -
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