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<br />Said promissory note was given to secure a loan in which the Small Business Administration, an agency of the
<br />United Staten of America, has participated. In compliance with section I01.1(d) of the Rvlea and Regulations of
<br />the Small Buainesa Administration [13 C.F.R. 101.I(d) ), flats instrument is to be construed and enforced in accord-
<br />ance with applicable Federal law.
<br />1. The mortgagor covenants and agrees as follows:
<br />a. He wilt promptly pay the indebxedneae evidenced by said promissory note at the times and in [he
<br />manner therein provided.
<br />b. He will pay alt taxes, assesamenta water rates, and other governmental or tniu.Icipal charges, fines, or
<br />impositions, for which provision has not been made hereinbefote, and will promptly deliver the official recaiyts
<br />therefor to the said mortgagee.
<br />c He will pay such expenses and fees as ma}• be incurred in the protection and maintenance of said
<br />property, including the fees of any attorney employed by the mortgagee foe the collection of any or all of
<br />the indebtednea hereby- secured. or foreclosure b}' mortgagee's sale. or court proceedings, or in any other
<br />litigation or proceeding aftec[ing said property. Attorneys' fees reasonabh incurred in any other way shall he
<br />paid by the mortgagor.
<br />d. For better security of the indebtedness hereby secured, upon the rcynrst of the mortgagee. its
<br />auccessots or assigns, he shall execute and deliver a supplemental mortgage or mortgages covering any
<br />additions, improvements, or betterments made to the proprrh Lereinabo+r described and all prope:h
<br />acquired by it after the date hereof ~ all in form sari:factor' to mortgagee ~. I'luthrrmore, should mortgagor
<br />r_ct a_r.. .t. ,t_e ~r ,re ,6. .h., ~:. do rit.o~t 6.
<br />., .o ,.,.e r ..~,a,...... ,,. pa ,~.:..,. pr.,.. ~. ....~...., e..~ .............. .... .... }:rul:e ...~_..._...
<br />this instrument, mortgagor hereb},agrees to permit mortgagee to cure such default. but mortgagee is not
<br />obligated to do so: and such advances shell becmue part of the indebtedness secured by this m>tn+men4
<br />subject to the same terms and conditions.
<br />r•. The right- created by this conyelance shall remain in Full force and rtfect during nut pustpuaenu•n!
<br />or extension of the time of the payment of the indebtednes+ e+idenced by .aid prrmi=son note or stn part
<br />thereof secured hereby.
<br />(. He will continuously maintain hazard insurance, of such type or types sad in each amounts as the
<br />mortgagee may from time to time require on the improtement. not. rsr 6rreaftrr ou ,ai,l propcrts, and
<br />wiU pay promptly when due any premiums therefor. All insurance shat] he carried in companies acceptable
<br />to mortgagee and the policies and renewals thereof shat} be he13 be mortgagee and have attached thereto
<br />lose payable clauses in favor of and in form acceptable to the mortgagee, In event of loan, 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 such
<br />logs dir~cth' to mortgagee instead of to mortgagor and mortgagee jointk, and the insurance proceeds, or any
<br />part thereat, ma} be applied by mortgagee at its opticn either io the reduction of tF,r indebtedness beech}'
<br />secured or to the reaturation or repair of the property damaged or destroyed. In steer of fozeclasure of this
<br />mortgage, or other transfer of title to said propertc in extinguishment of the indebtedness secured hereby, all
<br />right, title. and interest of the mortgagor m and to any insurance policies then in force shall pass to the
<br />purchaser or morta;agrr or- at the option of the murt;:agrr, n+nt he .urr:•ndrrPd fur a reflwd.
<br />~. He will keep all buildings and other impro.rutents un paid pruprrt} iu you+l n•pair and cunditiott:
<br />trill peemiG commit, ur su.4er nu waste. impairment, deteriorafian of >aid property or any part thereof:
<br />in ihr steer of failure o[ the n:origagar to keep the building. an paid },rrmi,e. and tho.e erected on said
<br />premises, or improvement. thereon. in goc>+l repair_ the mort;:arrr tear vtat.c such repairs a> in its discretion
<br />it may Berm nerr.>ary fur the proper pre-ervation thereat: and the full amount uE each and r+Pr~_ -nrh
<br />payment shall be imnsrcliately rive and payable: and -half hr -scored b~ fife lira of thi- mortfagr.
<br />lr. He will not yalun[arily create or permit to he created against the proierty subject to [hie mortgage any
<br />lien or liens inferior cr ,uperior to ihr lien of this murt,*aee without the written content of the mortgagee: and
<br />further, that hr >+ill ?•.eep and rnainiein the ,seer free trout star claim .:I al! urr-nn- sup},h ing labor ur
<br />materials for construction r,f anti and all huildirsF. ur impru.ens,•nt- +enty he-tut: +-rrrtr.{ or to hP Prrrted un
<br />said premises.
<br />i. He will not trot ter a~ign an. part of the rent of said nturtgagrd pruprrty ur drmclish. ur rrmu+e.
<br />su soh-tantially alter any htulding without the written can-rut of the nturtgageP.
<br />j. All awards of damage. iu conurrtiun with ant condemnation for public uer of ur injurt 1., ant of the
<br />prol„r-rty suhjr~f to flats rnaritagr err hereby asaigre'd and -hall br pai;l iu nn:rtgegrr, ahu mat app$) ihr
<br />game to pryatrni of the instalimrnts hr,t tine under maid note. and mortgagee i- herebi authorized, in the
<br />name of A+e murtf;ngor, to et:ecute and deliter talid acquittaacr. thereof and to ap}+ral from .ut} such awanl.
<br />~. "hhe mortgagee ,:hall base the right to inspect the a,ortttnged preu+i+r-r al ant rr:+•uu;e6ir tim,•.
<br />2. Default itt anz of the covenants ar canditiana of thin instrument or of the not- or Ioan agreement secured
<br />hereby ah:ll terminate the mortgagor s right to poareasion, use, and enjoyment of the property, at the option of the
<br />tnartgagee or his assigns tit bring agrees that the mortgagor shall have such right until default 1. Upon any such
<br />default, the rttartgaFee shall l..xvme the ow-eer of all of the rents and profits accruing after default as security
<br />for the indebtedness secured hereby, with the ritibt to enter upon said property for the purpose of collecting such
<br />rents and profits. Thin instrument shall operate as sn aeaigament of any rentaia on said property to that extent.
<br />5@A Fp RM 92a S2-T 3t
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