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<br />Sand promissory note was given to secure a Loan in which the Small Busiaeas Administration, an agency of the
<br />United Sxates of America, has gazticipated. in compliance with section lOl.lld} of the Rules and Regnlationa of
<br />the Small Business Administration {13 C.F.R_ 101.1 (d) 1, this instrument is to be canatrned and enforced in accord-
<br />aew with applicable Federal law.
<br />1. T7te mattgagar tpveaants and agrees as follows:
<br />a. He will promptly pay the indebtedness evidenced by said promimory note at the times and in the
<br />manner therein provided.
<br />b. He will pay all fazes, assessments, water Wren, and other governmental ar mt:;,i;:ipal charges, fates, or
<br />impositions, for which proviafoa has not been made hereinbefare, and will promptly deliver the o~cial receipts
<br />therefor to the said mortgagee.
<br />c. He will pay ane6 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 far the collection oC any or all of
<br />-the indebtedness hereby secured, or foreclosure by mortgagee's sale, or court proceedings, or in any ocher
<br />-litigation or proceeding Meeting said property. Attorneys' fees reasonable incnrrcd in am~ other way shall be
<br />paid by the mortgagor.
<br />d. For better security of the indebtedness hereby secured, upnu the reyuest of the mortgagee, ire
<br />succe~ars ar assigns, hz shall zxecute and deliver a supplrmeneat mortgage nr mortgages covering any
<br />additions, improvements, or betterments made. m ills pruprrq• leereinabuye described and alt property
<br />acquired by rt alter the date hereof i all in fornt satisfactory m uurrt};agee ~. Fttrthrrnore, should mortgagor
<br />fail to cure anc rlefanlt in the payment of a prior or interior encumbrance nn the pruprrh~ described by
<br />this instrument, mortgagor hereby' agrees to permit mortga;;ea ttt cure such default. but nmrtgager is not
<br />obiigateri to do so; and such advances shall 6eaorne parr of the inrlehtt-dnrs. =r,-u red by this instrument,
<br />subject to the same terms and conditions.
<br />e. The tights created by this conveyance shall reutain in full fnrre and e6ect during guy pustpunrutrnt
<br />or extension o! the time oC the payment of the hulchtedness evidenced by said prntnissnn~ Holt ur any part
<br />thereof secured hereby.
<br />/. He wfll coneinuously maintaih hazard insurance, of such type or types and in such emounta ae the
<br />mortgagee may from time to time require uu the, improvement: ^nw ur hereafter ua ,aid prnpcrtc. and
<br />wiii pay promptly when due any premiums therefor Alt insurance shalt be carried in companies acceptable
<br />to mortgagee and the policies and renewals thereof shall be held by mortgagee and have attached thereto
<br />lose payable clauses in favor of and in .`orm acceptable ro the aortgagee. I-t event of loss, mortgagor wiii give
<br />immediate natiee in writing to mortgagee, sad mortgagee tray make proof of lo>a if not made promptly by
<br />mortgagor, and each insurance company concerned i> hereby authorized and directed to make payment nor such
<br />loss directly to mortgagee instead of to mortgagor and mortgagee jointly, and the insurance proceeds, or any
<br />part thereof, may be applied by mortgagee at its option either to the re<luction of the indebtedness hereby
<br />secured or to the restoration or repair of the prape~rty darntageti or destroyed. in event of foreclosure ai this
<br />mortxage, or other transfer of title to said property in rxtinguishmrn! of the indebtedness secured hereby, al}
<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 optimt uF the mortgagee, may lte snrrrndrrrd fur a refiutri.
<br />g. He wiii keep all buildings and other improvements on said property in good repair and cmulitimu
<br />will permit; commit, or suffer no waste, impairment, deterioration of said pn>perh~ or any part thereof:
<br />in the event of failure of the mortgagor to keep the buildings cot said premise.. and those stetted on said
<br />premises, or ineproventents thereon, in good repair, the mortgagee may make such repair. as in its discretion
<br />it may deem necessary for the propee preservation thrreoL• stud the full amount of rarh and every .urh
<br />payment shad be immediately ,hte and- payable; and shall be scented by the lien of this mortKagr.
<br />h. He will not voluntarily create or permit to be created against the property subject to this mortgage any
<br />lien or hens inferior or superior to the lien of this mortgage without the written consent of the mortgagee; avd
<br />furtheq that he will keep and maintain the saute Irer (rum the claim ul all prrsous .applying labor or
<br />materials for constwetion of any and all buildings ur intproyrments now (wing ,vetted ur to he erected on
<br />said premises.
<br />i. Hu will not rent ur a,sign any part of the rent of said mortgaged properly ur demolish. or rrtnuvr•
<br />or substantially alter env building without the written consent mf the mortgagee.
<br />j. Ail awards of danmgea in connection with any eondenututiou fur public use of of htjun at anc of the
<br />propcrl} snbjrct to this mortgage are hereby assigned and shall be paid to nturtgagee, who may apply dlr.
<br />same to paynteut of the instalharuts last doe under said nuts, and mortgagee is hereby uutlmrized, in the
<br />name of th••. mortgagor, to exenrtr. and deliver valid acquittances thereof and to appeal from :un such awnnl.
<br />6•. "I•he utnrtgager .bat! have the right to inspect the mortgaged prrmisv.- at any rrasoatable time.
<br />2: Default -in 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 option of the
<br />mortgagee or his assigns i.it being agreed that the mortgagor shall have such right until defaultl. upon any such
<br />defauh, the mortgagee shalt become the owner of all of the rents and profits accruing after default as security
<br />fur thcigdebteilness secured hereby, with_ths right to=enerr upon wid property for the purpose of •~nliecting each
<br />teats and profif~..."t'hia instrument shall mperate as an assignment of avy rentals on said property to that extent.
<br />saw r4 Flq 3ia i •-~}t
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