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~i(~5653
<br />Said promissory note was given to secure a loan in which the Small Business Administration, an agency of the
<br />United States a€ America, has participated. In compliance with action 20I.lld) of the Rules and Regulations of
<br />the Smll Buaineee Administration [13 C.F.R. 101.1(d) i, this instrument is w be construed and enforced in accord-
<br />ance with applicable Federal law.
<br />1. The mortgagor covenants sad agrees as follows:
<br />a $e 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 fazes, aseeaementa, water rates, and other governmental or mna:e,pai charges, fines, or
<br />impasitiona, for which provision has not been made hereinbefore, and will gromptly deliver the o(Gciai rei~;pt;
<br />therefor to the said mortgagee.
<br />c. He will pay such expenses and (sea ae may be incurred in the protection and maintenance of said
<br />property, including the fees of any attorney employed by the mortgagee far the collection of any or all of
<br />the indebtedness hereby secured, or foreclosure by mortgagee's sale, or court proceedings. or in anv other
<br />litigation of proceed°mg affecting said property. Attornecs' (ees reasonahic inenrrcd in anv other way shall he
<br />paid by the mortgagor.
<br />d. For better security of the indebtedness hereby secured, upon the r+•yurst of the nwrtgagee, its
<br />- successors or assigns, he shat} execute and deliver a supplemental mortgage nr mortgages covering anv
<br />additions, improvements, or bettemrents made to the proper[c berrinahur e• desrribrd and alt propertr~
<br />acquired by it attar the date hereof i all in farm aatisfuctory ua mortgagee ~. Furtbennore, should mortgagor
<br />fat} to cure any default in the payment ref' a prior or inferior enrumbrancx un the propert'p +lescriher} by
<br />this instrument, mortgagor hereby agrees to permit mortgagee. to rare such default, but mortgagee is not
<br />obligated to do so; ;md such advances shall become part ref the indrbtrduee. ~ecurerf 1++~ lbi,. iuarunrnt,
<br />subject to the same terms and conditions.
<br />c. The rights created by this conveyance shall rmnaiu ir+ {'u!I Force end rlfert dnriug ^ur pustponrunrn t.
<br />or extension of the time of the payment of dre in Jcbtednr±s er idence+l be >aid promisson note ur am par(
<br />thereofsecared hereby. -
<br />f. He will continuously maintain hazard insurance, of such type or types and in such amormte ae the
<br />mortgagee may from time to time require nn the improvement. now nr 6errait.•r un ~airl propene, .md
<br />will pay promptly- when due any premiums therefor. All insurance shall be carried in companies acceptable
<br />to mortgagee and the policies and renewals thereof shall be heki by mortgagee and have attached thereto
<br />loss payable clauses in favor of and in form acceptable to the mortgaeee. in event of loss, mortgagor will give
<br />immediate notice in writing to mortgagee, and mortgagee, mu)' make proof ui loss if not made pmmpdy by
<br />martgagoq and each insurance company concerned is hereby audrorized .end directed to make payment for such
<br />loss directly to mortgagee instead of to mortgagor and m+rrtgagre jainit}, and the insurance pmoreds, or any
<br />par, thereof, may ~ applied by otort~rgoe at its optinrr eitheu to the rrductiaa c,f the indebtedness hereby
<br />secured or to the restcration or repair of fbe property <iatmagnd nr drstrr,ved- in event +if inrerJoaure of this
<br />mortgage, nr other transfer of title to said property in <.xt~utg~teiahment of the indebtedtte~ secured hereby, all
<br />right, title. and interest of the mortgagor in and to any' tryruranrr po}ieies then in fnree =}salt pass us the
<br />purdraser or nxortgager nr. ut ihr +eptiott ::1 the mnrtgager..n.ar h,- ,:.. r,-ti,;,~rr,f f~rr ,+ rain u.i.
<br />F. He will keep all buildings and outer improvements cn .aid parprrtr iu tourl repair .aid ronditiou:
<br />will permit, commit, or suffer no waste. impai nnen t, deterioration of paid irroprnr ur ,urr part tbereo(:
<br />in the event uC failure of the mortgagor to keep the buildings un said pn•miae- .nut thine rrrru•.d un naid
<br />prerui~s, or improvement- thereon, in good repair, the murtga kre mac muk<• : ur-L rrpoin a- in it• di>cretiun
<br />it tnay deem necessarc f•or the proper prese~rva[imt thereof: and the Fall nnwuut of each ,uul rr.•rr -urh
<br />payment shall be itmncdiuteh- doe :uul par ablrc :md =hall be secu rr•d br ti:~~ lien ni' iln. r,+ort ~agr.
<br />h. He will not voluntarily create or permit to be created against the property subject to thin mortgage an•
<br />lien or liens inferior or superior to the lien of this mortcage without the written consent of the mortgagee; and
<br />[urtheq that hr will kerrp and nu+iutaiu the ..;our trey Iruw the claim of .ill p<~n.un~ -apple ins fab,~r o.
<br />nwteriula for construNiun of :ury and all buildings ur inrfuuvenuartr nary hrniu •~rrvir,l ..r io h,~ „r+•rt,•~i ,n
<br />xaid prenrisca.
<br />i. He will nut nmt ur assign ;err part uF ihr rent of >aid uuutgagrd pruprn+ ~~r .ie~ur+~li.h...i n~nur, ~~
<br />or subsluntialh' alter stn huildiug without 16e rarittrn run=rot of die nnu~t g.reer.
<br />j. All awards of damages iu ronuection wiilt uu} condrruuatimt for public use of oc mien .u cur of Ib,-
<br />prupert+- snbjeet to this mortgage urr trernc~ assigned soft shun br peril to ruurtguper•. rvho nrav apple dtr-
<br />.atur- to Irarutent nt !hr in=talluu•nt- !u<<t doe under =slat uulr. ;a:d mortgagee ;. bcr,=h; authr,ricrd, in th•~
<br />uanu• of ihr mortgagor, to execute and dr•livrr valid arquiu.urc.-. thereof and t.. ,rhpral from .+ur .urh sward.
<br />A. ~fitr mortgagee sleaJl have tlu• right to in~pert tL<• mprtgar=+•d prrvni.e. ,o ,mr r,.+•uuahl,• Iim,•.
<br />2. Default in any of the covenants or ronditiona of this inatrnmrnt or of the uotr or Ltan agrrenu^nt srnrrrd
<br />hereby aball terminate the mortgagut r right to pos~ston, use, and enjoyment of the grape rt y, ut der option of the
<br />mortgagee ar his assigns tit bring agn•ed that the mortgagor shall have sucL rigfn until default i. upon any such
<br />default. the mortgagee shall become the owner of all of dte rents and prufith aeertrina after drlault as .erurvtr
<br />flee t}r,. in+lebtedneas secured herrk;v, with the riR6t to enter upon said ~rogertv fur the purpose nl ~~oSlectiug such
<br />rents and praGts• This inatnFment shall rrperate as an awi¢nrnrnt of an}' rental; on said property to that ••xtent.
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