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<br /> Said promieaory note was given to secure a loan in which the Small Businese Administrauon, an agency of the
<br /> United Staxea , of A.merica, has ,participated. In compliance with aection lal .l ( a ) of the Rulea and Aegu]ations of
<br /> the Small Busineas Administrauon [ 13 C.F.R. 1011 ( d ) ] , this inetrument is to be construed and enforced in accord-
<br /> ; ance with applicable Federal law.
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<br /> 1. ' The mortgagor covenants and agreea as followe :
<br /> a. Ha will promptly pay' the indebtedneae evidenced by eaid promieeory note at the times aad in the "
<br /> manner therein provided.
<br /> " ';; 6. , Iia wili pay all taxes; aeseasmente, water rates, and other governmental or municipal char;gea, finee, or
<br /> '' impoeitions, forwhich proviaion hae not been made hereinbefore, and will prompdy deliver the otficial receipte
<br /> there£or ta the eaid mortgagee.
<br /> c. He will pay euch expeneee and feea ae may he incurred in the protection and maintenance of aaid
<br /> property, ineluding the feea of any attorney employed by the mortgagee for the cullection of any or atl of
<br /> tlie' indebtednesa hereby aecured, or forecloeure by mortgagee's sale, or court proceedinge, or in any uther
<br /> litigation or proceeding affectin� eaid property. Attorneys' feea reasonably incurred Sn any other way ehall he
<br /> " paid by the mortga�or.
<br /> d. For better aecurity of the indebtednees hereby secured, upon the requeet o€ the mortgagee, its
<br /> euccesaors or assigna, he shall execute and deliver a aupplemental mortgage or mortgaRes covaring any
<br /> additione, improvements, or betterments made to the property hereinabove described and ail pzoperty
<br /> acquired by it after the date hereof ( all in forni eatisfactory to mortgapeel . Furtl�ermore, ahould mortgagor
<br /> fail to cure any default in the payment of a prior or inferior encumbrance on the property described bv
<br /> this instrument, mort�agor hereby agrees to permit mortgagee to cure such default, but mortKa�;ee ie not
<br /> obligated to do so ; and euch advances ahall become part of the indebtednes� wecureA by thie in�;trument,
<br /> subject tothe same terms and conditiona.
<br /> e. The righta created by thie conveyance ehall remain in tull force and eHect durin�: any po�tpunewent
<br /> or extension of the time of the payment of the indebtedness evidenced by eaid promiosory note or any part
<br /> thereof secured hereby:
<br /> ' ' f. He will continuously maintain hazazd inaurance, of such type or typea and in euch amounte ae the
<br /> mortgagee may from time to time require on the improvetuenin now or hereafter on �aid projier� y, anJ
<br /> "' will pay promptly when due any premiuma therefor. All insurance shsll be carried in companiee acceptable
<br /> ' ' to mortgagee and ihe policies and renewals thereof ahall be held by mortgagee and have attached thereto
<br /> ; loee payable elauaee in favor of and in form acceptable to the mortgagee. In event of loae, mortgagor will give
<br /> immediate notice in writing to mortgagee, and mortgagee may make proof of loea if not made prompdy by
<br /> raortgagor, and each ineurance company concerned is hereby authorized and directed to make payment for euch
<br /> loee directly to mortgagee inatead ot to mortgagor and mortgagee jointly, and Lhe ineurance proceede. or any
<br /> part thereof, may be applied by mortgagee at its option eithez to the reduction of the indebtednees hereby
<br /> � secured or to the reatoration or repair of the property damaged or destroyed. In event oL forecloeure of thie
<br /> mortgage, or other transfer of title to said property in extinguishment of the indebtednese secured hereby, all
<br /> ; right, title, and intereet of the mortgagor in and to any ineurance policiee then in force ehall paes to the
<br /> � pure}iaaer or mortgagee or, at the option of the �nort�;agee, �nay� be aurrendr,red for a �efuud.
<br /> � g. He will keep all buildings nnd other improvemente on eaid property in good repxir and conditim� ;
<br /> will perniit, commit, or euffer no waete, impairment, deterioration of said propertv or any part thereof; :
<br /> in the event of failure of the mortgagor to keep the buildings on ea4d premiees and thoee erected on eaid ,
<br /> premises, or improvementa thereon, in good repair, the mortgagee inay make auch repairs ae in ite� diecretion
<br /> it may deem neceasary for the proper preservation diereof ; and the full amouc�t of each and every sueh
<br /> payment shall be immediately due and payable ; and shall be aecured by the lien of thix mort�a�e.
<br /> h. He will not voluntarily create or permit to be czeated againet the property eubject to thie mortgage any
<br /> lien or liens inferior or euperior to the lien ot thie mortgage without the written consent of the mortgagee ; and
<br /> furt6er, that he will iceep and maintain the same free from the claim oC all per�+onn eupplying labor or
<br /> � materials for construction oE any and all buildinge or improvemente now Mein�; erected or to be erected on
<br /> eaid premieee.
<br /> � `' i. He will noY zent or aneign any part of the rent of said mortga�Zed property or demoligh, or re�nore,
<br /> or eubatantially a3ter am• buildin� without the written consent of the mort�a�ee.
<br /> ,j. All uwarda of damaRea in connection with any condemnatioxi tor public uae of or ieijurc tu an� of tfae
<br /> property subject to Lhis mort�a�e are hereby aesigned und ahall be paiil to mortRa�ee, who ma}• apply the
<br /> same to payment of the inetal6nenle ]ast 3ue under naid note, and tnortgagee ia hereb�• authorized, in the
<br /> '' name of the mortgagor, to execute and deliver vaIid acquittances thereof and to iippea ( from an} Each nward.
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<br /> i b•. 'I'he mortga�ee ef�all heve the ri�;ht ta inepect the mortp�aged premiAe� at an�• reasonable time. �� ,; „ �„
<br /> i 2, Default in any of the 'covenant$ or conditione of thia inetrumeat or oE the note or loan agreement eecured ,- � r� '»
<br /> hereby ahall terminate the mortgagor'e right to poeseseion, uee, and enjoyment of the property, at the option of the '�
<br /> � ' mortgagee or his aesigns (it being agreed that the mortgagor ahall have euch right until default ) . tJpon any such � 's.
<br /> default; the mortgagee shall become the owner of all of' the rente and profite accruing after default ae security �, ; ;o-r,- ?
<br /> for the indebtedneas eeceared hereby, wit� the ri:ht to esster upan said �roperSy for the gvr,._we of collerting 4uch
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<br /> � aad profits. This iastrssmer_t sha21 oaez..te �a ^..� as.-.ze z:er.t of :s3� -entale on sai� pr�perty to that ertent. �;
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