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<br />Said promissory sole was given to secure a loan in which the Small Buaureas Adminiatratian, an agency ai the
<br />United Stag of America, has participated. In compliance with section l0l.ltd) of the Rules and Regulations of
<br />the Ssifall Brtsirtess Adminiairatioa [13 C.F.R. 101.1 f.d) J, this instrument is to be coastrtted and enforced in a~cord-
<br />aace with applicable Federsllaw.
<br />1. The mortgagor aweaanta and agrcee as follows:
<br />a. He will promptly pay the indebtedness evidenced by said promissory note at the times and in the
<br />manner therein provided.
<br />b. He will pay all fazes, aeseasmeate, water rates, and other governmental or mt::.;eipai charges, fines, or
<br />impositions, for which provision has not been made hereinbefore, and will promptly deliver the of5cial rei:cipi6
<br />therefor to the said mortgagee.
<br />c. He will pay such expenses and fees ae 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 hereby secured, or foreclosure by mortgagee's sale, or court proceedings, or in any other
<br />litigation or proceeding affecting said property. Attorneys' fees reasonahh inearrcd in any other way shall he
<br />paid by the mortgagor.
<br />d. For better a.-curity of Ehe indebtedness hereby secured, upon the request of fire mortgagee, its
<br />successors or assigns, he shat! execute and deliver a avpplemental mortgage or n+nrtgages covering any
<br />additions, improvements, or betterments made to the property hrreinaboye described and all property
<br />acquired by it alter the date hereof (all in form satisfactory to mortgagee 1. Furdlenuore, should mortgagor
<br />fail to cute any default in the payruent o(a prior or itferior ence:mbrance m+ the property a°se.^:bed by
<br />this.inatrument, mortgagor hereb}• agrees to permit mortgagee to cure such defaul4 but mortgagee is not
<br />obYigated to do so: and such advances shall become part of the inrlehtrdnrss secured by this instrument,
<br />subject to the same Perms and conditions.
<br />e. The rights created by this conveyance shall remain in full force and effect during auk pustpunrulrnt
<br />or extension o[ the time of the payment of the indebtedness evidenrerl hr said promissory note or and p,vt
<br />thereof Fecured 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 improvement: now ur hereafter ou raid property, :uul
<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 shalt be held by mortgagee and have attached thereW
<br />Iosa payable clauses in favor of and in Corm acceptable to the mortgagee. In event of loss, mortgagor will give
<br />immediate notice in writing to mortgagee, and mortgagee may make proof of lose if not made promptly by
<br />mortgagor, and each insurance company concerned is hereby authorized and directed to make payment for ouch
<br />lose directly to mortgagee instead of to 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. 1n event of foreclosure of this
<br />mortgage, of other transfer of title to said property in extinguishment of the indebtedneea secured hereby, all
<br />right, title, and interest of the mortgagor in and to any insurance policies then in force shall peas to the
<br />purchaser or mortgagee o., at the option of the mortgagee, may he snrrrodrred for a refund.
<br />g. He will keep all buildings and other improy,«~,ents an said property in good repair and condition:
<br />will permit, commit, or suffer no waste, impairment, deterioration of said l,raprrty or any part thereof:
<br />in the event of failure of the mortgagor to keep the buildings on said premises and those erected on said
<br />premises, or impmvements thereon, in good repair, the mortgagee may make such rrpalrF Js 111 its drFCretion
<br />it may deem necesaan' for the proper preservatimt thereof; and the full amount of sash and r+-rr~ such
<br />payruent shall be immedtateh due and payable: and shall he secured by the lien of this mortgage.
<br />6, He will not voluntarily create or permit to be created against the property subject to thin mortgage say
<br />lien or liens inferior or superior to the lien of this mortgage without the written consent oC the mortgagee; and
<br />further, that he will keep and maintain the sawn free (nnu the claim of all persons ~+:pphing labor ur
<br />materials for construction of any and all buildings or improvements nos bring erer•ted ur to hr erected mt
<br />said premises.
<br />i. He will not rent or assign am part of the rent ut .aid murtgagrvf prnpern or denulli•h. ur r.•un,. r.
<br />or substantially alter any building without the wri ttru consent of the nuxtgager.
<br />j. All awards of damages in connection with am condemnation for public use of or iujun to an. of lh+•
<br />property subject to this mortgage are hereby assigned and shall 6e paid to mortgagee. whu may apply the
<br />same to paytneut of el~etnstaUateuta last dye under ±airl note, and mortgagee i- hereby authorized, in the
<br />name of the nwrtgagor, to execute and deliver valid acquittances thereof and to appeal from ;ury such axarll.
<br />k. "fhe mortgagee shall have the right to inspect the mortgaged premises at any reasnuable time.
<br />2. I?efault in any of the covenants or conditions ~ this instrument or of the note or loan agreement assured
<br />hereby shall' terminate the mortgagor's right to poaseasion, use, and enjoyment of the property, at the option of the
<br />mortgagee or hda assigns fit-being agreed that the mortgagor shall have such right until default). Upon any such
<br />default, the mortgagee shall become the owner of all of the rents and profits accruing after default ae eecurity
<br />for the indebtedness secured hereby, with the riaht to enter upon said property for the purpose of collecting such
<br />rents and_profias~~'intt~gment sltal' opecate:asaa assignmenE of any rentals on said property to that extent.
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<br />SBP. FORM 92a 12.73)
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