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8 L~~ ifyGaJJl. ~i
<br />Said promissory- nose was given to secare a loan in which the Small Business Administration, an agency of the
<br />United States of America, has participated. In campliance with section 1011(d) of the -ReIes and -Regulatiotta of _ -
<br />the Sir~ll Business Administration [13 C.F.R. 101.1(d) ], this instrument is to be construed and enforced in accord-
<br />aace with applicable Federal law.
<br />1. -The mortgagor covenants and agreee as follows:
<br />a. He will promptly pay the indebtedness evidenced by said promissory note at the times and in the
<br />manner therein provided.
<br />b. He will pay all razes, assessments, water rates, and other governnrenta[ or mi:vii ipai charges, fuses, or
<br />impositions, for which provision has not been made hereinbefarq and will promptly deliver the official rexipta
<br />therefor to the said mortgagee.
<br />c. He will pay each expenses and fees as may be incurred in the protection and maintenance of said
<br />` property, including the fees of any attorney employed by the mortgagee for the collection of any or aB of
<br />the indebtedness hereby secured, or foreclosure by mortgagee's sale, or court proceedings, or in any other
<br />litigation or proceeding affecting said property. Attorneys' fees reasnnabk incurred in any other way shall be
<br />paid by the mortgagor.
<br />d. For better security of the indebtedness hereby secured, upmr the request of the mortgagee, its
<br />successors or assigns, he shall execute and deliver a supplemental martgage or nmrtgages covering an}•
<br />additions, improvements, or betterments made to the property hercierabotc described and all property
<br />acquired by it alter the date hereof i all in Cornr satisfactory to mortgagee ~. Furthermore, should mortgagor
<br />fail to cure any default in the payment of a prior or inferior encurubrauce ou the property described by
<br />this instrument, mortgagor hereby agrees to perntit mortgagee to cure sarh default. but mortgagee is not
<br />obligated to do so; and such advances shall become port of the imlebh•dne-., s«•rurerl by this instrumenq
<br />subject to the same terms and conditions.
<br />e. The rights created by this conveyance shall remain in full force anti slicer during au} post puneotrnt
<br />or exten-ion of the time of the payment of the indebtedne> rvid,•nred b~ paid promi~ear}~ note ar an} part
<br />thereof secured hereby.
<br />J. He will continuously maintain hazard insurance, of aach type nr types and in each amounts as the
<br />mortgagee may Crom time to time require on the ingrrotemenls new or herea[trr on -aid proprrit, :uul
<br />will pay promptly when due any premiums therefor. Alf insurance shall fie carried in companies acceptable
<br />to mortgagee and the policies and renewals thereof shall fie. held by mortgagee and haze attached thereto
<br />loss 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 neade promptly by
<br />mortgagor, and each insurance company concerned is hereby authorized anti directed to make payment for such
<br />loss :lirectly to mortgagee instead oI to mortgagor and marsgagee jointly, and the insurance proceeds, ar any
<br />part thereof, may be applied by mortgagee at its optian either to the reduction of the indebtedness hereby
<br />aecur,~ed or to the restoration or repair of the property damaged or destroyed. In event of foreclosure of this
<br />mortgage, or ether 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 any insurance policiee then in force shall pass to the,
<br />purchaser or mortgagee ur, at the option of the mortgagee. mat he ,urrrndered fur a reload.
<br />g. He will keep all buildings and other improvements ou .aid properh iu good repair :uul nmditiou:
<br />will permit, commit, or suffer no waste. impairment, deterioratio^ of said pnrperty or any part thereof:
<br />in the event of failure of the mortgagor to keep the hnildings on said premises and those erected un said
<br />premises, or improvements thereon, in good repair. the martgagee may make such repairs a. in its discretion
<br />it nwy deem necessarc for the proper preservation thereof; and the full anunnu of each :uul every such
<br />payment shall he immerliatek due and payable: and shall be secured by the lien of this mortgage.
<br />h. He will not voluntarily create or permit to he created against the property subject to this mortgage any
<br />lien or liens inferior or superior to the Tien of thin mortgage without the written consent of the mortgagee; and
<br />further, drat he will keep and maintain the .wmr free from the claim of all prrvons supplcing labor ur
<br />materials for construction of anp and all buildings or impravement> now bring erected ur Io br rreehd nu
<br />said ¢remises.
<br />i. Hr will not reel ur assign nny part of the rent of said mortgaged pnrpr•rty or denurlish, or renurye,
<br />or substantially alter any building without the written crosser of the mortgagee.
<br />j. A^ awards of damages in connection with any cmulenmatimt for public use of or injure nr ant of the
<br />property subject to this mortgage arc hereby assigned and shall be paid to mortgagee, wbu may apply the
<br />sanw to pat« tent of the installments last due under said note, and enurtgagee i• hercbt authorized. in the
<br />name of the mortgagor, to execute and deliver valid acquittances thereof and to appeal from ;un .uch award.
<br />k.fhe mortgagee ,hall have the right tr irrepert the umrtga god premise- nt ;art reasonable tiuu.
<br />2. 13efauk in any of the covenants or conditions of this instrument or of the note or loan agceemcnt eecured
<br />hereby shall terminate the mortgagor's right to possession, use, and enjoyment of the property, at the option of the
<br />mortgagee or his assigns (it being agreed that the mortgagor shall have such right until default). Upon any such
<br />default, the mortgagee shall become the owner of all of the tents and profits accruing after default as securin~
<br />for [he indebtedness secured hereby, with the, right to enter upon said praperty for the purpose of collecting such
<br />rents-and profits. This instrument shall operate as an rssignme.^.t o[ any rentals on said property to that extent.
<br />SaA Fa RM 92a {2-13)
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