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~`_' i <br />80-fSt~5676 <br />Said promissory cote was given to secure a loan in which the Small Basinees Administration, an agmey of the <br />United States of America, hue participated. in wmpfiaace wiila section kll.l (d} of the Rules and Regulations of <br />the Stull Biuitieas Admiitietration (13 C.F.R. 141.1(d) ], this itmpaiment is to be construed and enforced is atxord- <br />ance with applicable Federal law. <br />I. The mortgagor mvmaate and agrees as folkwe: <br />a. He will promptly pay the indebtedness evidenced by said promissory note at the titata and in the <br />ataaner therein provided. <br />6. He wilt pay all tares, atteesemmts, water rates, and other governmental or m:t:.cipai chatrgee, fine, or <br />impositions, for whieli provision has not bem made hereinbefore, and will promptly deliver the official rea~ipL- <br />therefor to the said mortgagee. <br />c. He will pay each expenses and fees as may be incurred in the proteMion and maintenance of said <br />property, including the fetes of any attorney employed by the mortgagee for the collection of any or all of <br />the indebtedness hereby secured, or forealosure by mortgagee's sale, or court proceedings, or in any other <br />litigation or ptroceeding affecting said property. Attorneys' fees reasonahk incurred in any other way shall he <br />paid by the mortgagor. <br />d. For Witter securry of the indebtedness hereby secured, apart the rnlt:rst of the mortgagee its <br />aueeesaors or assigns, he shall execute and deliver a supplemental mortgage nr nmrtgages covering any <br />additions, improvements, or betterments made to the proprrty Lereinaboye described and all property <br />aequireil by it after the date hereof I all in form satisfactory to mortgagee ~. Furthermore. should mortgagor <br />fail to cure any default in the payment of a prior or interior encumbrance un the property described ln• <br />this instrument, mortgagor hereby agrees to permit mortgagee to e.ure such default, but mortgagee is not <br />obligated to do so; and such advance shall become part of the indebtedness srrured bs this instrument, <br />subject to the same terms and conditions. <br />e. The rights created by this conveyance shall remain in tali (acre and riiect during stn pustpuneutrut <br />or extension of the time of the payment of the indebtedness ryidrncrd bt -aid promissory note, or am part <br />thereof secured hereby. <br />J. He will continuously maintain hazard insurance, of such type or types and in ouch amounts ag the <br />mortgagee may tram time to time require on the improvrmeN~ now nr hrrruftrr an :aid proprrty, rout <br />will pay promptly when due any premiums therefor. All insurance shall be carried in companies acceptable <br />to mortgagee and Ehe policies and renewals thereoF shall he held by mortgagee and have attached thereto <br />lose payable clauses is favor o[ and in form acceptable to the mortgagee. In ey-ent of loss, mortgagor w ill give <br />immediate native in writing to mortgagee, and mortgagee near make proof of lose if not made promptly b <br />martgagoq and each iaetttanee company concerned is hereby authorized and directed to make payment (or sueh <br />Ions directh• to mortgagee instead of to mortgagor and mortgagee juiatly, and the insurance proceeds, ar any <br />pare thereof, mss be applied by mortgagee at its option either to the reduction of the indebcedness hereby <br />secured or to the restoration or repair o[ the property danmge:l or destroyed. In evens of foreclosure of this <br />mortgage, or other transfer of sills to said property in extinguishment of the indebtedness secured hereby, all <br />right, title, and interest of the mortgagor in and to env insurance policies then in (acct shall pass to the <br />purchaser or mortgagee oq at the optiau of the mortgagee, mat br eurmudrrrd fur a reload. <br />g. He will keep all buildings and other improvements ou said property iu gaud ngiair ;uul cmtditimt: <br />will permit, commie, or soRer no waste, impairment, deterioration of said property or any part thereof: <br />in the event of failure of the mortgagor to keep the buildings tut said premises and thu>r created un said <br />premises, or intprovenients thereon, in good repair. the mortgagee ntny make sueh repairs as in its discretion <br />it may deem necessary for the proper preservation thereof; and the full amount of each ;uul Byrn a+ah <br />paymem shall be immediatck due :md payable; and shall be secured by rite lieu of this nurrtgagr. <br />h. He will not voluntarily create or permit to be created against the property subject to this mortgage any <br />lien or liens interior or superior to the lien of this mortgage without the written couaent of the mortgagee; and <br />furtheq that he will keep and maintuiu the ~auu• Iree from the claim of all persons supplying labor ur <br />materials fur cents(ruction of any and ail buildings ur imprnyrmrnts now bring rrrrtrd or to he erevird ou <br />said premises. <br />i. Hr will not rrnl or assign :ml part of the rent u( said nturtgage+l proprrty ur demolish, ur rrmuy r, <br />ur substantially alter any huildiug yyithoui the wri ttrn consent of the mortgagor. <br />j. All awards aI damages iu caeutectiou with any aundrrnnatiun for public use of ur injury to any .+I the <br />property subject to this murigagr are herehp aseiguwi and shall be paid to mortgagee, who mac apply the <br />.wnie tri pat uuvtt of the instrdlmeuts last due ender said note, rout murtgagoe i. hrrrby aulharized, in the <br />name of for ntortgugoq to exec+ur. sell dally t•r valid acquiUmtce- thrrruf rout to nppr.d from any >urh ut,anl. <br />k. The uterrtgagre .ball haves the right to inspt•rt the mortgaged prenusr•~ ;rt any reasonable time. <br />2c Default in any of the covenants or conditions uC this instrument or nP the note or loan agreement secured <br />hereby shall terminate the mortgagor's right to possession, use, an$ enjoyment of the property. at the option of the <br />ntortgegee ur his assigns fit ht+ing agreed that the mortgagor shall have sash right until default). Lpon any such <br />de[ault, the mortgagee shall became the owner o[ ell of the rents and profits accruing after default ae security <br />Par the indehtedieess secured hereby, with the. right to enter upon said property for the purpose of cnlleeting sueh <br />rents and profits. 't'his itistn+nicitt shalt operate as an aaaignment of any rentals ou said proprrty to that rstent. <br />tt <br />50A rn RM a.I ~2-13{ <br />