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r~td promisor note was given to secure a ''foan in swhich the small 13usine~ Adm'inistratian, an agency of the
<br />United States of Amcrita, itaa partia:rpated. In compliance with sectiatr ltil.ir'dj of the Rules sad Regulations of
<br />(~} the St:ntll &usine~ Administration (13 ~.F'.H. fULlidt j, thts instrument is to be construed and enforced ssx accord-
<br />aaee with applicable Federal law.
<br />1. The mortgagor cav~anta and agre~t as follows:
<br />s. c!e wi12 promptly pay the indebtedtteas evidenced by said pratniasory note at the times and in the
<br />~t matte z therein provided.
<br />h. Fe will pay all taxes, assessments, water rates, and other governmental or mu~eipai chargeas ftnea, or
<br />impoaitiatta, for which provision has Hat been made hereinbefore, and will promptly deliver the official ne~ipL"
<br />tlsere#or to the said mortgagee.
<br />c. Ile will pay such expenses and fees as may be incurred in the protection and maintenance of said
<br />property, including the fees of any attozney employed by the mortgagee for the collection of any or all of
<br />the indebtedness hereby secured, or foreclosure by rnortgagee's sale, or caner proceedings, or in env other
<br />litigation or proceeding affecting said properir. Attorney<' fees reasonably incurred in arts other way shall be
<br />paid by the mortgagor.
<br />d. roe better security of the indebtedness hereby secured, upon the request oC the mortgagee, its
<br />successors or assigns, Ire shall execute and deliver a supplemental mortgage or moriKages covering ens
<br />additions, improvements, or betterments made to the property ltereinaboce +lescribed and all property
<br />acquired ;ty it after the date hereof call in form satisfactory to mortgagee r. Furthermore, should mortgagor
<br />fail to cure aan default in the payment of a prior or interior encumbrance on the propert} 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 sech advances shall become part of the indebtedness seeurerl by this instrument,
<br />subject to the same terms and condition<.
<br />+•. The rights created by this conveyance shall remain iu full Corce and effect during and pastpunrmrut
<br />ar extension of the time of the payment of the indebtedness evidenced by said promissory m+te or ens part
<br />thereof secured hereby.
<br />f. He will continuously maintain hazard insurance, of such type or types and in such amotmts as the
<br />mortgagee mac from time to time require ou the improvements new ar hereafter ott said }+roperty, :uul
<br />...ill nay nrmm~tty whnn_ Tun _y „r..n,iums therefnr, A11 inettranre shall }w_ r_.arrigrt' in enrnpa_nie8 aereptahle.
<br />. r__..__
<br />to mortgagee and the policies and renewals thereof shall be held by 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 fo mortgagee, and mortgagee may make proof of loss if not made promptly by
<br />mortgagor, and each insurance company concerned is hereby amharized and directed to make payment for such
<br />loss 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 fo the reduction of the indebteanees 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, tine, and interest of the mortgagor in and to any insurance policies thCn im farce shall pass to the
<br />t=sehas=_•r ar tuartnsgt~e ar. at tlse outimt ut the mortgagee, tna+' be snrrenrlemd for a reztnld.
<br />F,. t't.°, Y:tt tteVl: art YnttL'tn~a attd ginrr trlapros"erttemts !,n tatd i -_____ _ i+ ~ _. ii `~ -,r aim tvndit.att:
<br />will pat-ntii, camtmit, or suffer na sva:to. in.pairtnent, det¢rioratian of,~itl, prnlaerts'+or aszy part ilt?reof:
<br />in the evert of failure of the mortgagor to keep the buildings on said premises and those erected an said
<br />premises, or improvements thereon, in Food repair, the mortgagee may make each rc•paies us in it discretion
<br />it ntay deem necessar}• for the proper preservation thereof; and the full amount of each and even such
<br />payment shall be immediately due and payable: and shall he secure+t bs rite lien of this montage.
<br />h. He will not voluntarily create or permit to be created against the property eubject to this mortgage any
<br />lien or liens inferior or superior to the lien o[ this mortgage without the written consent of the mortgagee; and
<br />further, that he will keep and tnaintaiu the same free Erom the claiut uC all preswte supplyinn Tabor or
<br />materials Cor construction of any and all buildings or improvements nose being erected or to hr erected nu
<br />said premises.
<br />i. He will not rent or assign any pars of the rent of said mortgatted property or demolish. or rrntut e.
<br />or substantially alter any building +yithout the a-ritteo c•onseut of the mortgagee.
<br />j. All awards of damages in comrection with any condemnatimt for public use of or iujurl to any of the
<br />property subject to this mortgage are hereby assigned and shall be paiil to mortgagee, who ntay apply the
<br />earns to payment of the installments last due under said Hate, and tmortgagee is herebs authorized, in the
<br />name of the mortgagor, to execute and deliver valid acquittance, thereof anti to appeal from any such award.
<br />k. The mortgagee shall have the right to inspect the ulartt:aKed premiers ai any reasnl:able time.
<br />2. Default in.any of the cavenanU or conditions of this instrument or of the noty_ or lean agreement secured
<br />_ _ hereby sball tetmfnate the mortgagor's right to possession, use, and enjoyment of the property, at the option of the
<br />mortgagee or his assigns fit being agreed that the mortgagar 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 as security
<br />for the indebt~nes:f hereby, with the right to enter upon said property for she purpose oC collecting each
<br />rents and profile.-'Chia instrument shall operate ss an assignment of say rentals on said property to that extent.
<br />SBA FO F7M 32a (2-731 •a^ `^r'"'~
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