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<br />- Said promissory note was given to secure a Lean in which the Small Business-Administrazion, an agency of the - ---
<br />Ilnited States of America, has participated. In compliance with section 101.1(d) of the Rules and Regnlatiotro of
<br />the Sf~all Business Administration (33 C.F.R. 101.1 {d i j, this instrument is to lie construed sad enforced in aewrd-
<br />aace with applicable Federal law. -
<br />1. The mortgagor covenants and agrees as fo}lowe:
<br />a. He will promptly pap the iudebtedrteas evidenced by said promissory note at~ihe.time6 aad_is the
<br />manner therein provided.
<br />b. He will pay all Lazes, assessments, water rates, and other governmental or tnt::.ieipai charges, fittes, a
<br />impoaitiona, for which provision has not been made hereinbeLore, and will promptly deliver the of5cial reaapi:
<br />- - therefor to the said mortgagee - . - - -
<br />c. He will- pay each ezpensea and fees an-may be incurred in the protection and mairttenaneo of. said
<br />property, including the fees of any attorney employed by the mortgagee for the collectitin,of arty or all of
<br />the indebtedness hereby secured, or foreclosirre'by mortgagee: sale, or court proceedings, or in any, other
<br />- litigation or proceeding affecting said property. Attorney.,' fees rrasonahh' incurred in-any other wavshall he
<br />paid by the mortgagor.
<br />d. For better security of the indebtedness hereby secured, upon the regcest of the mortgagee, its
<br />successors or assigns, he shall execute and deliver a supplemental mortgage nr nmrtgages covering any
<br />additions, improvements, er betterments made to tht propertc hrreinabove described and al! property
<br />acquired by it after the date hereof ~ all in form satisfactory to mortgagee ~. Furthermore, should mortgagor
<br />tail to cure any default in the payment of a prior or inferior encumbrance nn the propertc described by
<br />this instrument, mortgagor hereby agrees to permit mortgagee to cure such default. but mortgagee is not
<br />obligated to do so: and such advances shall become part of the indehu•dne=. ~rrure+l by this instrument.
<br />subject to the same terms and conditions.
<br />e. The rights created by this conveyance shall remain in full force and effect +lurirtg au. past puneulrut
<br />or extension of the time of the payment of the indebtedness evidenced by .aid promissory outs or arty part
<br />thereof secured hereby.
<br />- ~. He will continuously maintain hazard insurance, of such n•pe or t}'pes and~in such amoanta as the
<br />mortgagee rosy from time to time retluire uu the improvements now or hereafter uu -ai+i prop+•rt}, :uul
<br />will pay promptly when des any premiums therefor. All insurance shall be carried in companies acceptable
<br />Yo mortgagee and the poiiciea and renewals thereof shall be 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 to make payment for such
<br />lass directly to mortgagee instead of to mortgagor and mortgagee jointly, and the insurance proceeds, or any
<br />Bart thereof, may 6e applied by mortgagee at its option either to the reductian of the indebtedness hereby
<br />secured or to the resmration or repair of the property damaged or destroyed. In event oL (orecloaure 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 in and to env insurance policies then in force shall pans to the
<br />purchaser or mortgagee or. at the option of the nmrtgagee, mar be surrendered (or a reload.
<br />g. He will keep all buildings and other improvements on said prnpertp in good repair amd cunditiml:
<br />-. will permit, commit, or suffer no waste, impairment, deteriorartou of said properly or any part thereof:
<br />in-the event of failure of the mortgagor to keep the buildings rot said prenliaes amd those erected on said
<br />premises, oc improvements [hereon, in good repair, the, mortgagee may make such repairs a= in ifs discretion
<br />it nmy deem necessary for the proper preservation thereof: and the FuII anunuri uC each and serer such
<br />-payment shall be imntediateh' ehle :uul payable; and shall he secured by Iite lien u( this uwrtgage.
<br />- h. He will not voluntarily create or pern.it to be created against the property subject to this mortgage any
<br />lien or.liena inferior or superior to the lien of this mortgage without the written consent of the mortgagee; and
<br />furtheq that he will keep and maintain the same free from th+• claim of :111 pr rsun~ rupph~ing labw~ or
<br />- :-~ materials (ur-construction of any and a^ buildings or imptovenn~ntc now being rreeU•d or Io hr erected ou
<br />- --~ said premises. .
<br />- - i. He will not rent or a~i~n an} part o[ the rent oI said nxlrteaged ptroprrly or detnolish, or reulnre.
<br />or substantially alter auv building witbuttt the written ennsent of the mortgagee.
<br />- j. All awards of dagtages in cotection with env cuudenmutimt for public use of ur injury h+ ;uq u( the
<br />properly subject to this mortgage are hereby assigned aml >hall be paiif to mortgagee, who map-apply the
<br />same to pu}'ulrut of the installnlenis last due under said note, and mortgagee is hereby authorized, in the
<br />- name o[ tlse-~mtortgagor, to execute and deliver valid acquittamees thereof and to appeal fntml any such awwd.
<br />k. 'fhe tuurtgagee shall have the right to inspect the mortgaged premise. :u unc rea.nnable time.
<br />? 2r'Default lit any. of'the covenants or conditions of this instrument or of the note or loan agreement secured
<br />hereby shall terminate the mortgagor's right to possession, use, and enjoyment of the property, at the optimt of the
<br />rnortgageo or his assigns lit being agreed that the mortgagor shelf have such right until default). Upon any ouch
<br />- default, the mortgagee. shall become the owner-of-all-~: i9f--I}ih-rents and profits accruing after default ae srnuity
<br />for: the indebtedness secured hereby, with ?he right to enrrrttpon said property for the purpose of collecting such
<br />rents surf- pmfpta. This instrument shalt operate-aaan aaeignment of any rentals on said property to that extent.
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<br />SBA FORM 32e f2•l'31
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