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<br />s3~°~(~568CD
<br />Snid promisaorv ante was given to secure a loan in which the Small Bttsiaeae Administration, an agency of the
<br />United Staten of America, has participated. fn compliance with section 101.1{d} of the Rnlea and Regulations of
<br />the Small Business Administration [13 C.F.R. 1011 id i ), this inatratnent is to be construed and enforced in accord-
<br />ance with applicable Federal law.
<br />1. The mortgagor wvenante and agrees as follows:
<br />o. He will promptly pay the indebtedness evidenced by said promiaaory note at the times and is the
<br />manner therein provided.
<br />b. He will pay ,all taze~, aesesemeais, water rates, and other governmental or municipal charges, fitter, of
<br />imposition, for which provision has not been made bereinbefore, and will promptly deliver the af&cial tticeipta
<br />therefor to the said mortgagee.
<br />c. He will pay such expenses and fees as may be incurred in the protection and maintenance of said
<br />property, including the fees of any attoraey_employed by the mortgagee for the collection of any or all of
<br />the indebtedness hereby secured, or foreclosure by mortgagee's sale, or court proceedings, or in any other
<br />litigation or proceeding affecting said property. Attornevti fees reasonably inenrred in env other way shall }te
<br />paid by the mortgagor.
<br />d. For better aecurit}• of the indebtedness herehy secured, upon the request of the mortgagee, its
<br />euccesaors or assigns, he shall execute and deliver a supplemental mortgage or mortgages covering any
<br />additions, improvements, or betterntente made Io the praperty hereinabove described and ail property
<br />acquired by it after the date hereof 1 all in farm satisfactory to mortgagee ~. Furthennorr, should mortgagor
<br />fail to cure any default in the payment of a prior or in [rrior encumbrance on the property ile•.ecrihed he
<br />this instrument, martgagor hereby agrees to permit mortgagee to cure such defaule, but mortgagee is not
<br />obligated to do so; and such advances shall become part of the inrlehtedness +rcured by this Instrument,
<br />subject to the same terms and conditions.
<br />e. The rights created by this conveyance shall remain in full Farce and r•ifect during mt. poet pouru+rnt
<br />or extension of the time of the payment of the indebtedness evidenced 6y said pmmissorc note ar any part
<br />thereof secured hereby.
<br />(. He will continuously maintain haaard insurance, of such type or types and in such amounU as the
<br />mortgagee may from time to time require on the improvements now or hereafter on .air{ praperh. anJ
<br />will pay promptly whey due any pre-alums therefor. All insurance shall be carried in companies acceptable
<br />to mortgagee and the policies and renewals thereo! shall be held by mutgagee and have attached thereto
<br />loos payable cletteea in favor of and in form acceptable to the mortgagee.. In event of loss. mortgagor will give
<br />immediate notice in writing to mortgagee, and mortgagee may make proof of loos i f oat made promptly by
<br />mortgagor, and each inurance comgany concerned is hereby authorized and directed to make payment for such
<br />lose directly to mortgagee instead of to mortgagor and mortgagee jointl}~, and the insurance proceeds, or any
<br />hart thereof, may be applied lip mortgagee at its aptiou either to the erduetian of the inde:btednrsa herehy
<br />secured or to the restoration or repair of the property damaged ar deatroped. In event. o! foreclosure o! this
<br />mortgage, or other transfer of title to said property in extinguishment o! the indebtedness secured hereby, all
<br />right, title, and interest of the mortgagor in and to any insurance policies then in force eltall pass to the
<br />purchaser ar mortgagee or, at the option of the mortgagee, may be surrendered for a reftuul.
<br />g. He will keep all buildings and other impraveroents on said property in good repair and couditiou:
<br />will permit, commit, or suffer no waste, impairment, deterioration of said pmperh~ or any part thereof:
<br />in the event of failure of the martgagor to keep the buildings on said premises and those crerted on said
<br />premises, or improvements thereon, in good repair, the mortgagee may make such repairs us in its discretion
<br />it may deem necessary for the proper preservation theretd: and the full anwuut of each and evert .un•h
<br />payment shall be imntediateh• due and payable; and shall be secured by the lien of this nurrtgage.
<br />h. Ha will not voluntarily create or permit to be created against the property subject to this mortgage any
<br />lien or liens inferior or superior to the lien of this mortgage withmrt the written consent of the mortgagee; and
<br />fw•theq that he will keep and maintain the sums Free from the c{uiw of all persoue supplying labor or
<br />materials for construction of any and all buildings or improvements now hein¢ orectrd or to he erected ou
<br />said premises.
<br />i. He will nut rent or assign any part of the rent of said ntorigaged propcrt, ur dr•mnlish, or rrmu, e.
<br />or aubetuntiully alter any building without the written consent of the nutrtgugee.
<br />j. All awards of damages iu connection with any candenuration for puitlic use of or injury to uu} of the
<br />property subject to this mortgage are hereby assigned and shall be paid to nturtgagrr, who tray apply the
<br />same to pacmeni of the inetnllmeuta Inst due under said note, and mortgagee is hereby authorized, in the
<br />name of the. nwrtgagor, to execute and deliver valid acquittances thereof and a. appeal [rota am rush nwunl.
<br />k'. The nu>rtgagee shall have the right to respect the murigaged premisr~ at um reusorrable time.
<br />2: Default in any of [he covenants or conditions of this instrument or of the note or loan agreement secured
<br />hereby shall terrninatu the mortgagor's right to possession, use, and enjoyment of the property, at the option of the
<br />mortgagee or his assigns (it being agreed that the mortgagor shall have such right until default). Upon any each
<br />default, the mortgagee shall become the owner of all of the rents and profits accruing after default as security
<br />for the indebtedness secured hereby, with the riaht to enter upon said praperty far the purpose of rnllecting each
<br />roots and profits. Tltis instrument shall operate as an assignment of any rentals on acid property to that extent.
<br />SBA F9 R~r 9,T8 (?.•>:)1
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