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87•- 10486 Said promissory note was given to secure a loan in which the Small Business Administration, an agency of the United Staffs of America, has participated. In compliance with action 101.1(d) of the Rules and Regulations of the Saaall Business Administration (13 C.F.R. 101.1(d) 1, this instrument is to be construed and enforced in accord. ,teas Federal law. 1. The asertgalicir eaveatants sad agrees es follows: a. He will promptly pay the indebtedness evidenced by said promissory note at the times and in the snastairr ehet;aie provided. b. He will pay all taxes, awes rneuts, water rates, and other governmental or munit:ipal charges, fines, or impositions, for which provision has not been made hereinbefore, and will promptly deliver the offfcial receipts therefor to the said mortgagee. e. He will pay such expenses and fees as may be incurred in the protection and maintenance of said property, including the fees of any attorney employed by the mortgagee for the collection of any or all of the indebtedness hereby secured, or foreclosure by mortgagee's sale, or court proceedings, or in any other litigation or proceeding affecting said property. Attornevs' fees reasonably incurred in anv other wav shall be paid by the mortgagor. d. For better security of the indebtedness hereby secured, upon the request of the mortgagee, its successors or assigns, he shall execute and deliver a supplemental mortgage or mortgages covering any additions, improvements, or betterments made to the property hcreinaboce described and all property acquired by it after the date hereof i all in fors, satisfactory to mortgagee i. Furthermore, should mortgagor fail to cure any default in the payment of a prior or inferior encumbrance on else property described by this instrument, mortgagor hereby agrees to permit mortgagee to cure such default, but mortgagee is not obligated to do so; and such advances shall become part of the indebtedness secured by this instrument, subject to the same terms and conditions. e. The rights created b • this conveyance shall remain in full force and effect Burin any gh y y g postpunrnkrnt s or extension of the time of the payment of the indebtedness c, idenced h. paid promissory note er am part thereof secured hereby. j. He will continuously maintain hazard insurance, of such type or types and in such amounts as the mortgagee may from time to time require on the inkprovementp no'A or hcreaftrr on said property, and will pay promptly when due any premiums therefor. All insurance shall be carried in companies acceptable to mortgagee and the policies and renewals thereof shall be held by mortgagee and have attached thereto lose payable clauses in favor of and in form acceptable to the mortgagee. In event of loss, mortgagor will give isawedinte notice in writing to mortgagee, and mortgagee may make proof of lose if not made promptly by mortgagor. and each insurance company concerned is hereby authorized and directed to make payment for such loss directly to mortgagee instead of to mortgagor and mortgagee jointly, and the insurance proceeds, or any part thereof, may be applied by mortgagee at its option either to the reduction of the indebtedness hereby secured or to the restoration or repair of the property damaged or destroyed. In event of foreclosure of this mortgage, or other transfer of title to said property in extinguishment of the indebtedness secured hereby, all right. titles, and interest of the mortgagor in and to any insurance policies then in force shall paw to the purchaser or mortgagee or, at clue option of the mortgagee, male be >urrendered for a refund. g. He will keep all buildings and other improvements on said properly in good repair and condition: will permit, commit, or suffer no waste, impairment, detatioration of said property or any part thereof: in the event of failure of the mortgagor to keep the buildings on said premises and those erected on said premises, or improvements thereon. in good repair, the mortgagee may make such repairs as in its discretion it may deem necessary for the proper preservation thereof; and the full amount of each and every such payment shall be immediately due and payable; and shall be secured by the lien of this mortgage. k. He will not voluntarily create or permit to he created against the property subject to this mortgage any lion or liens inferior or superior to the lien of this mortgage without the written consent of the mortgagee. and further, that he will keep and maintain the sankv free from the claim of all persons supplying labor or materials for construction of any and all buildings or improvements now being erected or to he erected on said premises. i. He will not rent or aes,ign any part of the rent of said mortgaged properh or demolish, or remove, or substantially alter any building without tike written consent of the mortgagee. %. All awards of damages in connection with any condemnation for public use of or injure to any of like property subject to this mortgage are hereby assigned and shall be paid to mortgagee, who may apply the to payment of Cite installments last due under said note, and mortgagee is hereby authorized, in the name of the mortgagor. to execute and deliver valid acquittances thereof and N, appeal from any such award. k. The usortgagee. shall have the right to inspect the mortgaged prenises at i my reasonable time. 2e Default in any of the covenants or conditions of this instrument or of the note or loan agreement secured hereby shall terminate the mortgagees right to possession, use, and enjoyment of the property, at the option of the or his assigns, tit being agreed that the mortgagor shall have such right until default), Vision, any such do(stillit. the morlitagre shall become the owner of all of the rents and profits accruing security ler the i*&UwJnvss wcure4 hereby, with the right to ensor upon said property for the purpose of collecting such rents sod r� profits. This instrument shall operate as an assignment of say rentals on said property to that extent. BRA FOAMS 040 1$.191 .