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Home My WebLink About0994 ~ . ~ l~il•) ; Said promiawry note wa~ givea to ~eeure a loan in which thc Small 8winea~ Adminiatration. aa a6eacy o[ tha i f United State~ oi America. 6a~ putieipated. In compliaace wit6 ~ectioa 101.1(d) o[ the Rulea aad Reaul~tions o[ ~ the 5~a11 Bwinss~ Adminiatratioa (13 C.F.R. 101.1(d) this iiutrument is to be conatrued ~nd entorced in accord- aace Mritb appGcabk Federal Lw. 1. The moet6a~or oa~eamt~ and aacea u iollow~: a He will promptlr pa~ the indebtedna~ evideaced br said protni~wry note at the time~ and in the manaer thereia provided. 6. He will pay aU tuea, aMea~ments, M?ater ratea, and other governmeat~l or munieipal ch~raes, fin~er, or ~ impwition~, ior which provision hu not beea made hereinbefore, and witl prnmpdy deliver the ol6cial ret~eiptt tharefor to the wd mort;aaee. ~ - e. He will par such eacpcn~es aad feea u may be incnrrcd in the protection md maintenanoe of said property, includin6 the fea oi any attoraey employed by the mortgagee for the collection of any or all of _ the indebtednea heteby secured, or foreclosure by mottgagee'~ sale, or court prceeedings, or in any other liti6ation or pcoceeding aflectinR said property. Attorneve' feea reasonab)y incurrerl in anv other wav shali be ? ; paid by the mortRaRor. d. For better sec~erity of the indebtedneas henby secured, upon the rcyuest of the mortgagee, ita ; •ucceesors or aaei~e, he ahall execute ~nd dtliver a supplemental mortRaKe or mortKaRea covering am• ~ , additiona, improvementa, or betterniente made to tlu property l~ereinabo~~e ~lescribed and all propert~~ acquired by it after the date hereof (al! in form satiefactory to inortgagee 1. Further~nore, ehould mortga~or fail to cure any delault in the pay~n~ent of a prior or in[erior encumbr~nce on the pro~,erty deecribed b~• this inatrument, mort~agor hereby agreea to permit mortgagee to rure auci~ ~lefault, but inortKa~tee is not obligated to do ao; and such advancea ahall become part of ttie in~lebtrdnr~ ~rrure~l br thiR inatrument, subject to the same terms and conditiona. e. The righta created by this conveyance ahall remain in fu11 iorce and efiect durin~C +~u~ ~?ualNunrmrnl or extenaion of the time oP the peyment of the indebtedneaa evi~ience~l h~- taid promi~orv nute or an~ ~?ar~ ~hereo( Eecured hereby. j. He will continuowly maintain haurd insurance, oI wch type or types and in such amounta u the mortRaRee ~nay Irom time to time require on the i~nprovanenia. now• ur here~[ter un ~ai~l pro~?~rl~~. :uul will pay promptly when due any premiums therefor. All insurance ~hall be carried in compania acceptable w mortgagee and the pnlicia and nnewala thereo[ ~hall be held by mortgagee and have attached thenw loss payable clauaea in favor of and in form acceptable to the mortgagee. In event o[ lws, mortaagor will give immediate notice in writing to mortgagee, and mortgagee may make proof o[ lo~e if not made promptly by mortgagor, and each in~urance company concerned ia henby authoriud ~ad directed to make payment for ~ucb ' loas directly to mortaagee inetead of to mortgagor and mortgagee jointly, and the iruurance proceeds, or any 4 part thercof, may be applied by mortgagee at ita option either to the reduction of the indtbtedness hereby f secured ~r to the reatoration or repair of the property damaged or de~troyed. In event of foreclo~ure of this I mortgage, or other tranafer of title to said property in e:tinguiahment o! the indebtedneea secured hereby, all ; right, title. and interest of the mortgagor in and to any inanrance po)icies then in [one shall paes to ihe E purchaser or mortgagee or. at tLe option of the mortRaRee. ~~~ac br eurrrndrrrd fur a rehu~d. i He will Iceep all buildings and other improvemente on said ~?roprrly~ in ~;oud rrpuir and conditio~~: ~ will permit, commit, or suffer no waete, impairment, deterioration of aaid property or an~• ~?art thereof; = in the event of [ailure of the mortgagor to keep the buildin~ts on eaid ~iren~ieeE and tho~e ererted on aai~l ~ premiaee, or improvement~ thereon. in good repair, the mortKagee may m~ke eacl~ re~~air6 af in ite ~liscretion s it may deem neceaaar~• for ihe proper preeervation chereof; and the full amount o( each and ever~- such payment shall be immediately due and payable; and ahall be xcurerl b~- the lien of thi~ mort~aRe. h. He will not voluntarily create or permit to ba created againit the property ~ubject to thu mortgage any lien or liens inferior or euperior to the lien ot this mortgagt without the written coneent o( the mort6agee; and ~ iurther, that he will lceep and maintain the uame free from the claitn uf all per~uns uuppl}~inR labor or ~ materials for conatruction of any and ali buildin~[s or improvem~nts now beinK rrecte~ or to he erected on said premisea. ~ i. He will not rent or a,asign any part of the rent of aaid mortgaged pruprrt~ or ~emolieh. ur rPmu~e. or ~ubat~ntially alter any huildinR without the written consent of t{ie mortRaKer. ~ j. All awarde of damagea in connection with any condemnation for public u~e of ur injur~ tu an~ u( tl~r ~ property aubject to thie mortgage are hereby aeeigned and shall be paid to n~ortRaRte, who ma~• apply the ~ame to p~~~ment of the inetallmenta la~t due under said nute, and mortgaKee ie herebv authorized, in the ~ nam~ of the mortgagor, to execute and ~leliver valid acquittancea thereof aral to ap~?eal from any ench awarel. ~ ~ k. The roortRaRee ~I~all h~ve tht ri~tht to inapect ~he nwrtKaKe~i premi~r~ a~ an~~ reaFm~able time. ~ 2. Qefault in any of the coveaante or conditions of thi~ iwtrument or of the note or loan aareemeat ~ecured ~ hereby shall terminate the mortgagor's right to poaseaaion, u~e. and enjoyment of the property. at the optioa of the ~ mortgagee or hu aesigns (it bein6 agreed that the mortgaRor shall have euch right until default). Upon any such default, the mortgagee shall become the owner of all oi the renta and pm6te accruina after defsait a~ ~eci~rity for the indebtedneas sccured henby, with th~ ri~hht to eot~r upon s~id property for the purpo~e of collectina ~uch rrnts and pro6b. This inetrument ~hall operate u an aasi~nment of any rentals oa aaid property to that eztent. r t ~ ~c3~1 t~ ~93 . z . . , ~ se~ co~~ 9za tz-~ai ~_„w.: _