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Home My WebLink About1620 . ~ ~ ~e ..;iiE~..,G Said prnmissory aote wu 6iven to ~ecure a loah i~ which the Smal1 Bwineas Administration. an agency of ihe Uniled Statea of A~nerica, has participatcd. Ia compliance with eeetion 101,1(d) df ihe Rules and Re;ulations of' the Stnall Busi~eas Adminiatration [ 13 C.F.R. 101.11 d) j, this in~trumcnt ia to be coaatrued +4nd enforced in-accord• +~noe with applicable Federal law. I. Tbe mortaagor coveaanta and agrees u lollow~: a He wiU promptly pay the indebtednew evideaccd by said prnmiraory aote ~?t the tima aad ia tbe manner therein prnvided. b. $e will paj all taYea, aesesaments, water ratea, and other governmeatal or muaicipal charges, Snes, or impositions, tor which provision h~s not becn made hereinbefore, and will pmmptly deliver the o$'icial recelpL therefor to t6e said mortga~eee. ~ c. He will pa~ auc6 ezpenees and (eea as may be incurred in the pmtecdon and maiatenanoe of said pmpertq, i~cluding the feea of aay tttorney emp)oped by the raorta~gee for the eollectiob of ~ny or all ot the indebtedness hereby aecured, or forecloeure by mortRagee'e eale, or court proce~din~[n, or in any other litigation or proceeding aHectinR esid property. Attorne~e fee~ reasonably incun~e~l in any other wav ~?hall be paid by the monga~or. ~ d For better eecurity of the indebtedneae hereby ~ecured~ upon tlie request of t1~e morigagee, i~s succeaaore or aeaigna, he ahall execute and deliver a eupplementa! mortgage or mortgagea covering an~~ additions, iroprovemente, or bettermenta made to tl~e propert~ hereinalw~•e deacribed and all propert~~ acquired b~• it after !he date hereof fall in form satisfactor~ to mottgagee{. Furtherniore, aho~ild mortRa~or tail to cure Any default in the pa~•ment of a prior or inferior encumbrance on the ~~ropertV deacribed b~~ this inatrument, mortga~or herebp a~crees to permit mortgagee to cure euch default, but mort~a~ee iR not obli~ated to do so; and auch advancex ehall become part of tlie indebtedneeu~ xrcured by ihi~ inRt~~a~ient, eubject to the same terma and conditions. ° e. The righte created by thie co~»~erance ehall remain in [ull iorce aud.effect duriu~ ani poatpunenir.nt or exteneion of the time of the papmpnt of the indebtedner.~? evidenced by er~id promi6sory note or anr part thereof eeeured hereb~. . ~ ~ J. He will continuoualy maintain basard ineurance, of such tppe or typea and in such araounts as the mort~a~ee may from tin~e to time require on the improvemeMe now or hereafter on eaid propPrtc, an~l will pay promptly when due any ptemiums therefor. All inauraace ahall be carried in companiee acceptable to mortgagee and the pc?liciea and renewala thereof ahall be held by mostgagee and have attached thereto ; lo6e payable clauaea in favor of and in fora~ acceptable to the mortgagee. In event o[ Iose, mortgaaor will give immediate notice in writina to mortgaace, and mortgagee may make proof of loea if not made promptly by mortgagor, and each inaurance company concerned is hereby authoriud and directed to make payment for eucb t loea directiy to mortg~gee inetead of to mortgagor and mortgagee jointly,~and the ineurance proceeds, or any part thereof, may be applied by mortgagee at ite option either to the reduction of the indebtednees hereby eecured or to the reatoration or repair of the property damaged or deatrnyed. In event of foreclosure of thia morigage, or oiher tranafer of title to aaid property in e:tinguiahmeat of the indebtednees eecured hereby, all ~ right, title, and intereat of the mortgagor ia and to aay iaeurance policiea then in force shall paes to the . purchaaer or mortgagee or, at die option of the mort~ca~tee. ma~- 1~e eurrendered (or a reftu~d. g. He will keep a11 buildiags and other intprovemeale on said property in ~ood re}~air and condition: wi11 permit, commit,•or su$er no waate, impairment. deterioration of said propert~• or an}- part thereof; in the event of failare of the a~ortgagor to keep the buildiuge ort said premisea and ~thoee .erected on eaid pren~ieea, or improvementa .thereon, in-~Coocl repair, the uwrtgagee ma~ ma~e each repairs aa in ite diecretion it may deem n~ceasary ,for the proper preeervatiot~ theieof; and the full amount of each an~l even anch payment aha11 be immediat~ly due and 'payable; and eha]l be eecured ~bv the lien of thie mort~a~re. /e. He will not voluntar~i}y create or permit to be cmated againat the property eubject to thie mottgage any ]ien or liene inferior or euperior to the lien of thie mott~age without the written coneent of the mortgagee; and further, that he will ~CeeE~ and maintain the eame fiee from the claim of all perriona ~uppl~in~ labor or ` materiala for conatruction of an~ and all buildin~a or improvemPnta now 1win~; rrecte~i or to bP erecied on eaid premiee.s. ' ~ i. He will not rent or aueign any part o[ the renl of said mottgaged property or demolieh, or temu~e, - or vub3tantially alter anc buildinR without the writte~ coneent of the mori~ca~ceP. j. All awarde of damagre in connection with any~ condemnaiion !or public e~~+e oF or injury to an}~ of the property aubject to thia mort~age are herebti a8eigned and shall be pai~l to mortRa~ee, who ma~• appl~ the +~ame to payntcv~t of !he inetallmente lant due under eaid note, and mort}~a~:ee i~ hereb~~ a~rthorized, in thp namP of thr mortga~or, to execute and deliver vali~i acquittance~ thereof and tn aE~pPal irom an~• Ruch aHar~l. R. ThP mort~caRee ~hall ha~~e thP riRht to innpect tlie moriKaKed premiarr at an~- ~eaPOUable time. -2. Default in any of the covenanta or conditione of thia inatrument or of the note or loan a~creement eecured hereby ahall terminate the mortga~cor'a right to poaeesaion, uee, and enjoynieat of the property, at the option of the mortRag~e or hia aeei~ne (it being agreed that the mortgaaor eha1l have euch right until defauit). Upon any such default. the mort~a~ee ehall become the oMner of all oi the reate and pm6ta accruing after defauit se eeci~rit~ for the indebtedneas eecured hereby, with the right to enter upon aaid property Ior ihe purpoee of collecting euch renta and profita. Thia instrument ehall operate aa an aeeignmeni oi an~ rentala on said prope~t _ to,~h~i e#tent. .4 _ d00K ~~~7 PACE ~.619 cL- ~A~1 Ferm 9iA U0~'li e _ , , . . . ~ - : . _