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r <br />~ J <br />~iJ"'~ w.:~a Cl x? df <br />Said promissory note was given to secure a loan in which the Small Business Administration, an. agency of the <br />United States of America, has participated. In compliance with section lOl.ltd) of £he Rules and Regulations of <br />the Stall Business Administration (13 C.F.R. lOLlld) ], this instrument is to be construed sad enforced in accord- <br />atice with applicable Federal taw. <br />I. The mortgagor ~veoants and agrees u follows: <br />a. He will promptly pay the indebtedness evidenced by said promissory note at the times and is tlm <br />manner thetein provided. <br />6: He will pay alt taxes, asaessmenta, water nte4 and otber govermnenta- or'm:::ai+;lpa1 charges, fines, to <br />impositions, for which provision has not beta made hereinbefare, and will promptly defiver the official recelpia <br />therefor to the said mortgagee. <br />c. lie wilt pay such e:peneea and fees as may be incnrrtd in the protection and maintenance of said <br />property, including the fees of any attornt)• employed by the mortgagee for the collection of say or alI of <br />the indebtedness hereby secured, or forecloeure- by mortgagee's sale, or court proceedings, or in any other <br />Etiigation or- proceeding affecting said property-. Attorneys' fens reasonably incurred in am other w-av shall br <br />paid by the mortgagor. <br />d. For better security of the indebtedness hereby secured, upP^ the request of the mortgagee, its <br />succeasors or assigrs, he shall execute and deliver a supplemental mortgage nr mortgages covering any <br />additions, improvements, or bruerntents made to tl!e proprrty 6trein.rboce described untl all properh <br />acquired be it after the date hereof i all in Fornr satisfactory to mortgunee i. Furtbennnre.. shoufd mortgagor <br />fail :a cure mty default in the payment of a prior ur inferior r:ncu ntbra.ucc on the property described by <br />this instrument, mortgagor hereby agrees to permit mortgagee to f~ure such default. but mortgagee is not <br />obligated to do so; and such advances shall brcmae part of 16e indehirdue-. -reared by this instrument. <br />subject to the same terms and condition;. <br />r. The rights created by this conveyance shall remain in full forces :uul rtiect drying out purtpuurnn•ut <br />or extension of the time of the payment of the iudrMednrss evidenced bt .aid pmmissnn' ante ur ant part <br />thereof secured hereby. <br />f. He wEll continuously maintain Etazard insurance, of such type or types and in each amounts ae the <br />martgagee may from time in time require m! Ehr inil;rovemrnts now nr 6rrcaii.•r nu ..aid prnprrh. .end <br />wall pay promptly when due any premiums therefor.:111 insurance shall 1>e carried nt companies acceptable <br />to mortgagee and the policies and renewals thereof shall be held bg• martgagee anti have attached thereto <br />• foes payable clauses in favor Pf and in farm uceepzable to the mortgagee. In event of loss, mortgagor wilt give <br />immediate notice in writing to morigagez, and niostgager ntav rusks proot of loss i( rtut made promptIv 6v <br />mUrtaagPr, a[Id CJC-11nBLLCanCt• CUnapany' sane«rnrd i~ herrEly althF!I!r.rri and d'. ~rCtrd tit rFiakr t'.;iymeni fat such <br />Eons directly to mortgagee instead of to mortgagor and tnortgagce jointk, and the insurance proceeds. -+r any <br />part thereof, may be applied by mortgagee at its option either to the reduction of the indebtedness iterebv <br />secured ar to the restoration or repair of the property danragrd or destroyed. In event of foreclosure 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 any- insurance policies then in force shall peas to the <br />purchaser or mortgagee or, st the optinu of the mmrtgagrr. uuct br surrrudrn•d (nr a refund. <br />rs• He will keep all buildings and other inrlnotrmente ou maid property in ~;:uud repair :uul cuudilinn: <br />t+ill permit, commit, nr saner no waste, inrhair en4 detcriuratiuu of -aid proprrty ur :un port therruL <br />in the, rverrt n( Collars of the, nwrtgagor to keep the buildings mt ,aid prruuses and those erected ou said <br />premises, ur impravements the rran, in good repair, the tnort¢trgr:• may make sorb n•puirs .!~ iu its disrrrtimr <br />it may deem rcecessary~ iur the proper prrsen'atimt thereof; and the full amount of f•ar6 and even ~m•h <br />payment shalt he inuurrliately doe and pay able: and shall hr seeun•d bt the lien ..I' this nu!rtgag,•. <br />h. fie will not voluntarily create or permit to be oreated against the prnprrty subject to this mortgage any <br />lien or Netts inferior or superior to the lien of this mortgage without for written cwrarnt of the martgagee; and <br />further, that hr will keep mrd maintain thu ..ems Irrr I'rem the claim ..I all pcr.uus supplying labor ni <br />materials for cmu!tntctiMt of any :uul all buildings or iotproventrnts now bring rn•!•trd nr to hr +•rccird mr <br />said premises. <br />i. Hr will not rent or as+ign :!ny port of the rout of said :nnatgugfvl prnprrty nr dwuoli..h. m- t.mo+,•, <br />or subatamially alter auy building without the written consent nl' the mm~gager. <br />j. ail awards of damages in eonuection with auy condanu!ation (or public use of or injury n! auy of ibr <br />pay+rrly .object to this mortgage are hereby assigned ;uul shall !te puiil to martgagee•, rvhu may apply' the <br />+amr to pa}nreru ei' the inatallmruts last due under said ante, and nmrtguger is i!erebt :vuluuired, in du' <br />uann• a:C tlic mortgagor, to execute and deliver valid arquittancrs thereof and in appeal from cut .uyb ;!want. <br />k. `!'hc mnrrgagre shall have 11re right to iusluut Qw nw rlgaged prenusr-nt out reasonably fuse. <br />2. lhfault in any of the covenants or conditions nC this instrumttti nr of tha note .!r loan agreement secured <br />litreby shall terminair dtc morigagar's right w possession. use, and enjoyment of the property, at the option of the <br />rr>ortgagr+t ar his assigns lit being agreed that the mortgagor sbali have such right until defau[t). Upon any such <br />dtlsuh, the martaagtr shall become ihr owner of all of the rents sml profits arcruiug situ default as strurity <br />far the indebtednrs!! seeurrrl hereby, with tIm rts-tt io toter upon said proptrty for the purpPSa• of collrrting each <br />trots and profits. Phis inetruavrnt shalt aptrate as au ansiauntent of nor rentals nts said proEe.•rty to that extent. <br />