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Home My WebLink About2348 ~j ~ ~ ~ ~ a~ ~ ~ $aid Qt,~oq aots ~~i~a to ~ecure a loan in ~rhich the $uuU Bwienew Adminiatratioti, an a~ency of the Uaitad Sts~as o[ A~riea. lw p~ticipat~etl,, Ia compliance with sectioq 10I.1(d ) ot the Rules aud Regulations ot the SmaU Bwi~s A~miai~tntioa [13 GF.R. 101.1(d) j, thu inatruracnt is to be construed and enforoed in accord• aaoe ~ritb apptieabk Fedesal LMr. i ~ l. Tbe iioet~oc co~aaat~ and aarees ia iollo+rr - s. He ~D pe+oaptl~ pa7 t6e iaaebtedaer eridenQed bp tdd promiworp note at the time~ aad im th~ maeuer tbes+eia pro~id~ed. . ~ b~, $e ~ril] pa~ sp ta~. a~tnta. water satea, and other soverameatal or muaidpal eharsa. 6ne~, or ispositio~r„ for wtiie6 pra?irioa ha~ oot been made hereinbeforG aad wiQ prompdy deliver the o~cial recaipu th~doe ts t6a nid siest~ee. a Ha wiU paY weh e~cpeo~es and tee~ ~ may be iacnrred ia the pmtection and mainten~aoe of aaid p~+operty, iadndias t1~e fae~ oi an~ attoraey employed by tl~a mortga6ee for the eolLeetion of any or all ot tb~ indeheaser 6ercb~ ~ecured. or forecloau~e by mortgagee's, iale, or court proceedings, or ia sny olher litiaatioa ot ~iraoeediu~ aHeetinR said propecty. AttornaYs' fees reaaonably incun~l in anr other wav shall be paid b~ the moryca~or. d For better secaritr of the indebtednees hereby eecured, upon the requeat of the mortgagee, ite weoeswn or au,iam, he shali eseente and deliver a aupplemental 'mart~qe or mort~ca~ea covering an~~ additions, improvcmcnta, or bettermeab made to the • progutx hereinabove . describet~ ~ and all propert~- aequired b~ it alter t5e date hereof (all in form eatiafactorytontortgagee). F~ttuera4ore,ahoald mortga~tor (ail to eure ans default in t6e pa~-ment af a prior or ihieclor ~eneumbrauce oa the property, deaecibed by this imtrument, martaa~or hereb~ agreea to permit mortgagee to cure such ~aefault,` liut mortga~ee ie not obli~yated to do so; md such advutces ahall become part o( the indebtednesn Recure~i by this inetrnment, subjeet s~ t6e s~me tecros u~d coaditions. t. 'Ibe ri~6ts crtated br this conreyance ehall remain in full [orce and eRect durin~[ an~~ poetpunement or ezteoaioa of the time of the payment of the indebtednese evidenced b~• eaid promieeon note or am• part thereof ~eeored herebp. f. ge ~riII eootia~wual~ maiaUin hasard 'uuusanoe, of wch type or types aad in euch amounts as the ~aee auy fmm time to tiane reqwre on the improvementa now or hereaftec on said propert~•, a~~d ~ W7 Pz'Oi°~P~ ~'~n dne an~ pre~niums thereEor. All inaurance shall be carried in co~npanies aooeptable to mort;,aaee and~ t6e policie~. and e~enewals thereof shall 6e held by mortgagee and have attached thereto loss payable cLnses in favor of and in form acceptable to the mortgaaee. In event o[ loes, mortgagor will give immediate notioe in r?ri~tin~ to mort6aaee, and mortgagee may malce prooi of loes if not made pmmpily by mort~or, and ~ach imurance eompany ooncerned ia hereby authorised and directed to make payment for sncL I loas directly to mort~aaee instud of to mortaagor and mortgagee jointly, and the insurance prooeed4 or any f part t6ereof, may be applic~ by mortsaaee at ita option either to the rednction of the indebtedn~s hereby ~ eecured or to the reatontion or repair of the properiy damaged or deatroyed. In event of forecloeure of this € mort~a~q or other tnnsfer of titk to said prnperty in eztinguishmml of the indebtedneas secured hereby, all ~ ri~ht, tide, and intereat of the mortaagor in and to anp inaurance policiea then in force ehall paes to the purchaser or mortg~a~re or. at tl~e option of the mort~[aRee, ma~~ be si~rrendered (or a rehu~~l. ~ a. He will keep a11 buildings wd other impro~ementa on said prapert~~ in good repair and condition; ~ r?ill permit, commi4 or euBer no w~aate, impairment, deterioration of said property or any part thereof; in the e~ent of failure of the mortgagor to kcep the buildinga on said premiaee and those erected on- aaid premi~es, or impro~emente thereon, in ~tood repair, the mortgagee may make such repaira as in ita diecretion = it may dcem necessarF for the proper preservation thereof; and the tull amount of each and ever}• such - payment ahaD be immediately due and psyable; aad ahall be secured b~ the lien of this mort~ta~te. ~ 3 k. He ~?ill not ~oluntaril~ create or permit to be created againat the property eubject to thie mortgage any ~ liea or liens inferior or snperior to the lien of this mortgage without the written coneent of the mortgagee; and further, that l~e wil) tetp and maintain the name free from the clain~ of all Ner~sons supplyin~ Iabor or mai,erisla [ot crostrnetioa of anp and all buildin~cs or improvemente now }?ein~c erecte~i or to be erected ou ssid premi~e.. - i. He will not rent or aseian an~~ part of the rent of ~aid mortgag~d''propert~- or demolieh, or re~nu.•e, or {ubEtantiall~ alter an~ baildinR vrithout the written cooaent of the mortRaRee. ~ j. All a~rards o[ dama~[ea in coanection ~rith any condemnation for public u~e of or injur~ to an~- o( tl~e ~ propert~- subject to thia mortgage are hereb~ aesigned and shall be paiil to mort~cagee, who ma~ apply the ~ =ame to pa~ment of the installmenta laat due under 8aid note, and mortga~ee is herebv aothorized, in the , oame of the mort~agor, to execute and deli.er ~~alid acquittancea thereof and to app~al irom anv Ruch a~.ard. ~ k. The mort~a~ee shall ha~e the riEtht to inrpect the tnortKa~ted premiFet at anv reasnnable timr. ; 2. Defanh iw ath of the ooveaants or eonditiona of thia ia~trument or of the note or loan agreement eecured ~ ~ herebr ahall termiaate the mortgagor'a right to ~wseeaeion, uee, and enjofinent of the prnperty, at the option of the mort~aaee or hia aseiEna (it beina agreed that the mortaa6or ehall have auch right until defanlt). Upon anq ench default. the mort{ta~tee shall become the owner ef aU of the t+lnts and profita accruing after default ae secnritt for the indebtedneee eecured herrb~, with tha ri~t to mt'r npon wid property for the purpose o( collecting anch renta and profita. This instr~ment shall operate ar an aei~i~nment of ~ny rentale on aaid propetty to that extent. BQOK ~z PAGf ~ . z348 SH~ FO R+~ 929 12-~31 "~-;.~,ys~x~ca..,ry ~ > - - - - - - . I ,r c ~ .r= ~ ~ t -f - ~ ~r'~ ~ Y,~~ ~.~t' -F.'~~ e.6,,, ~ ~ i z~ ~ ~"~..~,:~.~..~e~;_,~r,-r-~r~"t-~~-', -~,s.~= ' .