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Said. promissory note was given to secure -a loan in which th. 0, mall Business Administration, an agency
<br />�t7 United States:of America; has participated, In compliance, with section,.101.1(d) of the ;Rules and. Regulations of
<br />the Small Business Administration [13 C.F.R. 101.1(d) ], this instrument is to be construed and enforced'in.accord-
<br />ance with applicable Federal ,law.,
<br />1: r The mortgagor covenants and, agrees as follows:
<br />a: `He, will promptly pay the indebfedness evidenced by said promissory mote 'at'the"times "and in the
<br />manner therein provided
<br />b, He will pay' all taxes, assessments, watir rates, and other'governmental`or:municipal'charges, fines, or -
<br />"impositions, for which provision h not been made hereinbefore,'and will'proin' 41 'deliver the official'receiptB
<br />therefor to" tlie said mortgagee:
<br />c. He -will pay such expenses and :fees as may be -,incurred in the protection and maintenance;of said
<br />property, including the fees of any; attorney: employed by, the mortgagee -for. the`: collection of any ;or all of
<br />the indebtedness liereb)' •secured; -or �forcelosure by mortgagee's sale; • or court proceedings,: or in any oilier
<br />.:-,litigation or.proceeding affecting said property, Attorneys"fees reason ably incurred in any other war shall be
<br />paid by the mortgagor.
<br />d. For better security of the indebtedness hereby secured, upon the bequest of the mortgagee, its
<br />successors or assigns, he sliall execute and deliver a supplemental mortgage or mortgages covering any
<br />additions, improvements, or betterments made to the property -hereinabove described, and all. property
<br />acquired by it after the date hereof, (all in forni'satisfactory to mortgagee). Furthermore, should mortgagor
<br />fail to cure any default in the paytnent of a prior or inferior encumbrance on the property described by
<br />this instrument, mortgagor hereby agrees to permit mortgagee to cure such default, but mortgagee is not
<br />obligated to do so; and such advances shall become part of the indebtedness secured by this instrument,
<br />subject to the same terms and conditions.
<br />e. The rights created by this conveyance shall remain in full force a►id effect during; any postpuncinent
<br />or extension of the time of the payment of the indebtedness evidenced by said promissory note'or any parL
<br />thereof secured hereby.
<br />f. He will continuously maintain'hazard insurance, of such type or types and in such .amounts as the
<br />mortgagee may from time to time' require on the improvements now or hereafter on said, property, and
<br />will pay promptly when due any premiums therefor. All insurance shall be carried in companies acceptable
<br />to mortgagee and the policies, and ' renewals ' thereof shall be held by mortgagee'and have attached thereto
<br />loss payable clauses in favor of and in form acceptable to the mortgagee. In event of loss, mortgagor will give
<br />immediate notice in writing to mortgagee, and mortgagee may make proof of loss if not made promptly by
<br />mortgagor, and each insurance company concerned is hereby authorized and directed to make payment for such
<br />loss directly to mortgagee instead of io mortgagor and mortgagee jointly, and the insurance proceeds, or any
<br />part thereof, may be applied by mortgagee at its option either to the reduction of the indebtedness hereby
<br />secured or to the restoration or repair of the property damaged or destroyed. In event of foreclosure of this
<br />mortgage, or other transfer of title to`said property in extinguishment of the indebtedness secured hereby, all
<br />right, title,: and interest of -the mortgagor in and;;to,any insurance policies then in force shall .pass to the
<br />purchaser or mortgagee or, at the option of the mortgagee, may he surrendered for a refund.
<br />g. Hewill keep all buildings and other 'improvenrents on said liroperty in good repair and condition;
<br />will permit, commit, or suffer no waste, impairment, deterioration of said property, or. any part thereof;
<br />in the event of failure of"the mortgagor to keep the buildings" 0'ri said "premises and those erected on said
<br />premises, or improvements thereon, in good -repair, the mortgagee may make such repairs as in.its discretion
<br />it may" deem` necessary for tic, proper preservation thereof; and the full amount of each `and every such
<br />payment shall be immediately due and payable;.. and sliall be secured by the lien of this mortgage. .
<br />h. He will not voluntarily create or permit to be created against the property subject to this mortgage any
<br />lien or liens inferior or superior to the lien of this mortgage without the written consent of the mortgagee; -and
<br />further,:.that -lie will Keep and maintain the ':same free from the claim of all persons sitpplying'labor or
<br />materials for. construction -of •any, and all buildings, or.,improvements now being* erected or to.be erected on,
<br />said premises.:.
<br />i. He will not rent or assign any part of the rent of'said ruortgaged property orActuolish, or renim-c,
<br />or substantially alter any building without the written consent of the mortgagee.
<br />All awards of damages in, connection with any condetunation `for public use of'or'injiir•y to any of th,
<br />property subject to this mortgage are hereby assigned and shall be paid to mortgagee, who may --apply the
<br />same to payment of the installments last due under said note, and mortgagee is hereby authorized, in the
<br />name •of: the mortgagor, to execute and deliver valid acquittances thereof and io:appeal from. y siiclr award.
<br />G 1'he ntort a ee shall .
<br />F E• have -the right to inspect.the mortgaged premises at_any 'reasonable titnt:., .;
<br />2: Default in any of the covenants or-. conditions. of this instrument or of the note or loan agreement secured .
<br />hereby shall terminateAie mortgagor's right to possession, use, and enjoyment of the property, at the option of the
<br />' mortgagee or, his assigns .(it being agreed,that the *mortgagor shall have such right until default). Upon.any such
<br />default, the inbrtgagee' shall become the';owner.of all "of- the rents and profits accruing after default aa- security
<br />fort.the indebtedness secured hereby, with"th'e right. to enter;;upon`said_ property for the purpose. of eollecting'such
<br />,rents and profits. This instrument shall operate'as an assignment of any ientals on said property to that extent.
<br />SSA •FO•RM 928 (2-73) -
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