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Home My WebLink About0182 ~ ; ~ _ ~ t . - . ~ Said promiaw,ry aote w~s, givea W~ecuce a laan in which tbe $msU Bu~iaas Administratioa. .w +?~eQCy oi the United State~ ot Amesia~, I~s,,p~rttciPal,ed. I~ compU+wca ,with ~ectioq, 101.1(d ) of thq Rulea. ~tcid R~l~dons of the Small Bwiaess Administratioa [13 C.F.R. 101.1(d) J, thu in~truraent ia tu be constrde~ aad ~nforce~ ia ~scord- +woe with aPl~liCabk Fod~ral Lw. , ~ l. Tbe awrtaaaor ouven~?t~ aad aarees aa #ollo~ns ` ~ ~ i. He ~riU pe~omPtiy pay t6e ~debtedne~s evidenoed- by s~id pronai~orp nots at the titna ~nd ia th+~ manaer therein proride~. . , ` 6. He atll p~~ ~ll.tau~. aaew~nt+i. water ntes. and other aov~ernmentai or mwoidpal charse~, fi~, or " impwitiom, foi whic6 pro~+risioa hss nat Leea ~de hereinbefore? and «riA promptl~ deliver the o~'ieial reoeipts ~~rd~ w ~..~a . . . . - c. He will 'P~7 sWCh ea~pea~e~ and tea a~ mar be iacurrcd in the protectioa ~d aiaiAtenaaos.of wid property, i~clwdina c~e tee. ot.~.nr aµo~eser employed by. ~be mors~ee tor ~h~ collac~oa o[ +uny or. all ot t6e indebtedaees hanby.secured,_or.tos~clo+ure by.tnortgadee'a,sale. or court proceediaga, or iu? any other L'dgadon or proceedio~{ +~ectia~: a+~id pro.percy. Attorneys' feee raaaonably iacurrec~ ie arty othvr way ~haIl be paid by the mortRa~cor. d. For better securitr of the indebtedne~s hereby secured, upnn the requeat of tl~e mortga~ee. its suoceesors or asei~as, he shall eacecute and deliver a s~ppiemental mort~age or mortgagea ooverin~ any additione. impmvemeata. or bettermtnta made to ihe property hereinabove dearribed and all pmpert~ acquired by it after the date hereof (all in tona eatiafactory to mottgageel. Furtherniore, ahould mottgagor fail to cure ang defRUlt in the paymeat of a prior or inferior eacumbrance on the property de.~cribed by thi~s inatrument, mortgagor hereby agreea to permiC ~no~ee_tq cu~e such .default, but mortgage~ ia not obligated to do ao; and sueh advancee ahall .become part o{,~g uulebte~iee.~e sectire~ bv this instn~ment, : : subject to the eame terms and conditiona. ; ` i ~ ~ , ; • e. The righta created by this conveyance elt~ll~~~n ia iul~ ~orc~ a~}~e'~ect'durinR any poat~unemrnt or extenaion of the time of the payment of the indebtedneee evidenced ti~ `eai~ -promieaory nate or an}~ part thereof secured hereby. ~ f, He will uoatinnonsl~ maiatain hasard inencanue, of wch typa oc types and ia anch amounL ss the # mortgagee may fmm tune to time require oa the improvemente now or hereafter on eai~l~ prbpert~•. and will pay pmmpdy when dne any premiums therofor. All insurance ehall be carried in companies acceptable to mortgagce and the palicie~ aad renewala thereof shall be held by mort~agee and have attached thereto loes payable claoeea in favor of and in form aceeptable to the mortgagee. In event of loes, morigagor will give immediate notice in w.ritin~ to mortaa6ee, and mortgagee may make ptoof of loee if not made pmmpdy by mortgagor, and each insnrance company concerned ie hereby suthorised and directed to make payment for anch loes directly to mortsaaee instead of to mort~agor and mortgagee joindy; and the inaurance prooeed~, oi any • part thereof, mar be applied by mortgagee at its optioa either to the reduction of the indebtednds hereby ~ secured or to the restorstion or repair of the property dama~d or deatmyed. In evwt of forecloeure of thia ~ mortgage, or other tranefer of title to aaid pmpertp in eztinguiahment of the indebtednees secared hereby, all ( right, tide, and intere~t of the mort~agor in and to any insurance policies then in force sh~ll pass to the ~ purchaaer or moriga6ee or, at the option of the mortga~tee, ~n~}• be uurrendered for a refuud. E g. He will keep all buildings and other improvementa on said propert? in good repair and condition; ~ will permit, commit, or duffer no waate, impairment, deterioration of eaid property or xny part thereof; in the event oi failure of the mortgagor to keep the buildinge on said premiees and thoae erected on esid premisea, or improvemente thereon, in good repair, the mortgagee may make auc{~ repairs aa in ita diacretion it may deem neceasarp for the proper preservation thereof; and the full amount of each and ever~ euch payment shall be imatediately due and payable; and ~hall be eecured by the lien o( thia mort~a~[e. _ ' A. He will not roluntarily ereate or permit to be created sgainet the property sabj~ct to thia mortgege any lien or liene inferior or auperior to the lien of thia mortgage without the written conaent of the mortgagce; and furlher, that he will ~eep and maintain the aame free froin the claim of all ~?erdona ~upplyinR labor or mAlerials for constructiop of vny and all buil~inp,a or unprovements now being erected or to be erected on said premises. . ~ i. Ne wiil not reni or aaai6n any pe~rt oi the rent oCaaid mortgaged propert~ or demolieh, or reinove. or aubstantiall} alter anv buildin~ without the written coneent ot the mortRaRee. ' j. All awards of damaa~ee in connection with any condemnation for public uae of or injur~- to an~ o[ tl~e ~ property aubject to thia mortgage are hereby aasigned and shall be paiil to mort~[agee. who may apply the ! aame to payment of the installmente laat due under eaid note, and mortgagee IP hereby authorized, in the ~ name o[ the mortgagor, to ezecute and deliver valid acquittancea thereof and to appeal from anr Euch award. A. The mortRaRee ehall have the ri~cht to inbpect the ~i~ort~teyced premise,~ at an~ reaaonable tin~e. 2. Defanlt in ari~ of the ooveaant~ or conditions of t6ia iasWment or of the-.note or loan agreement e~cured hereby shatl terminate the mortgagor'a right to poeeeeeion, use, and enjoyment of the property, at the option of the mortgagee or hia aeeigaa (it beinR agrced that the mortgagor ehall have auch right nntil default). Upoq my ench default, the mortgagee ehal) become the owner ef all of the ~rlnta and pro6te accruing after ['~e ~ecurity for the indebtedneas secured herebp, with lhe riRhi~to antwr upon wid property for.the purp o collecting euch renta and pm6ta. Thia inatrument ahail operste a~ an ~ment o f any renta le on sa~ d prope r ty t o t h e t e x t e n~ ~ " aoa~ 233 18z SBA ~pRne 928 f2-731 . ~~'4 y ' C • ,Y -v~,~ z~`rt.~; ~ r.~,$'~~'^.s. .~.s~''~`~.~ - ~ 'b~ ~y y°'~s°f~ ~-Fs ra - ~ _ - , . .