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80=OG4596
<br />Said promissory note waa given to secure a loan in which the Small Businos Administration, an agency of the
<br />United States of America, has participated. In compliance with section 301.1(d) of the Rules and Regulations of
<br />the Small Business Admfniaeration [13 C.F.R. 101.1(dl ], this instrument is to he constraed:aetd enforced in aceord-
<br />aetoe with applicable Federal law. - - -
<br />1. The mortgagor covenants and agrees as follows:
<br />a. He will promptfy pap the indebtedness evidenced by xid pe+vmiseory note at the: limo :sad in tha
<br />manner tharein provided.
<br />b. He will pay all taxes, assessmeata, water salsa, and other governmental or munia'jpal.eirargn, &nat ar
<br />impositions, for wfiich ptavision has not been made hereinbefore, and will-promptly deliver the official rei~ipta.
<br />therefor to the said mortgagee. -
<br />c. He will pay such expenses and fees as may be incurred fn the protection and maintenance of said
<br />- property, including the feo of any attorney employed by the mortgagee for the collection.of any or aB oE.
<br />the indebtedness hereby secured, or foreclosure by mortgagee's sale, or court µroccetlings, ar in any. other
<br />- litigation or proceeding affecting eatd property. A!lomevs' fees reasanahh fncarrcd in acv oihcry:av shalllte
<br />paid by the mortgagor. - -
<br />d. Fur better security of the indebtedness hereby- secured, upon the request of the mortgagee, its
<br />successors or assigns. he shall execute and deliver a supplemental mortgage ar mnrtgages covering anv
<br />additions, improvements, or betterments made to the property hereinabwe described :md 'all properh~
<br />acquired by it after the date hereof tall in form satis[actorv to mortgagee 1. Furthermore, should mortgagor
<br />- fail to cure vn~ default in the pavment of a prior or inferior encumbrance ou the properh~ described by
<br />this instrument, mort};agor 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 indebtr+htrs. ~rcu red by this instrument,
<br />subject to the same terms and conditions.
<br />r. The rights created by this conveyance shall retrain iu Full force and r.lfect during an} uuslpuneuu•nt
<br />or extension of the time of the payment of the iu dohtedness evirlrneed b_c said prmnissnrc note or an+ part
<br />thereof secured hereby.
<br />~. He wilt continuously maintain hazard insurance, of such type or types and in each amounts ae the
<br />mortgagee may frmn time to time require on the intpnwrntant. raw ur hereafter uu .aid prmpori+, ;uul
<br />will pay promptly when due an}• premiums theretor.:111 insurance shall be carried in companies acceptable
<br />to mortgagee and the policies and renewals thereof shall be held by mortgagee and have attached thereto
<br />loss µayable clauses in favor of and in (arm acceptable to the mortgagee. In event of loss, mortgagor will give
<br />immediate notice in.wriiiag to mortgagee, and mortgagee may make proof of loss if rat made promptly by
<br />mortgagor, and each insurance company concerned is hrrebv authorized and directed to make payment for such
<br />loss directly tc mortgagee instead of to mortgagor and mortgagee jointly, and the insurance proceeds, ar any
<br />part thereof, may be applied by- mortgagee at its option either to the reduction of the indebtedness henbv
<br />secured or to dte restoration or repair of the property damaged or destroyed. In event of toreclosure of this
<br />nmrtgage, or other trattafer 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 policies then in force shall pass to the
<br />purchaser or mortgagee or, at the optiat of the mortgagee, utav be ,urn•ndrnvl for a refund.
<br />g. He will keep all 6uildinga and other improvements un said proµrrh im gaud repair and runditiou:
<br />will permit, commit, or suffer no waste, impairment, deleriaratiau al' said property or anv part therefL
<br />in the event at failure of the mortgagor to keep the buildings uu said promises and those erected un said
<br />premises, or improvements :hereon, in good repair, the mortgagee may utuke such repairs as in its discretinn
<br />it may deem necessary for the proper prrserv:u ion thereat; and the full unwuut of each and r+•rr. ~urh
<br />payment shall be imntrdiately due and payable: and shall be sncured by tits lira of this uuvt~agc.
<br />h. He will not voluntarily create or permit to be created against the µroµerty subject to thin mortgage any
<br />lien or liens interior ar suµeriar to the lien of this mongagr without the written consent of the mortgagee; and
<br />4trtber, that hr will keep and maintain the .•aure (err (nnt+ th+• rluiot of all prrsuns .applying labor nr
<br />materials tar cmtatruction of any and aI! buiWings ar imµroyenu•ms now bring t•rrotrd or to hr erected ou
<br />said premises.
<br />i. Ile will not rvni oe assig}} any purl of the rent of said tnortga}ted }rnrywr}y ur drmafisl}, ar r.=r++u+c,
<br />or substantially utter any huildina without the written cunseut of the nmrtgauer.
<br />j. All awards a[ damages in comteetiun with any coudrtunatiuu tar public use of ur injnr+ ro an+ nl' the
<br />property subject to dtis mortgage are hrrebv assigned and shall br paid k> umrtgagee, who nta} aµplp the
<br />same, to payment of the installments lint due under raid nun•, and nwrtRager i~ herrb+ nudurrired, in the
<br />- name of the mortgagor, to execute and deliver valid acqufttanees thereat' suet Ur aplxal from au+ .ucb ututnl.
<br />k. The uwrtgager shall have the right Ur inspect the nnrr}ga};ed prrwiw. at an+ n•a.,ntublc uun•.
<br />2. Default in any of the coveaante or conditions of this instrument or of the note or loan agreement secured
<br />hereby shalt terminzte the mortgagor's right to possession, use, and enjoyment of the propene, at the option of the
<br />mortgagee ar his assigns tit being agreed that the mortgagor shall have such right until default}. Upon eny such
<br />default, the mortgagee shall became the owner of all of the rents and profits accruing after default as nexurin•
<br />ftir the indebtedness necured hereby, with tfie riaht to enter upset said property for the purpose of collecting each
<br />rents and yju~its, Tbie-aastrument shall operate as as assignment of any rentals on paid, property to that extent.
<br />Sn~ FORM 92a 12-)3)
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