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<br />Said promissory note was given to secure a loan in which the Small $us[neae Administration, an agency o[ the
<br />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 f d} j, this instrument is to be eonsteued and enforced in accord-
<br />ance wrath applicable Federal law.
<br />1. The mortgagor etwenants and agrees as follows:
<br />sa He will promptly pay the indebtedness evidenced by said promissory note at the times and in the
<br />manner therein provided.
<br />b. 13e will pay all taxes, assesetnenta, water rates, and other governmental or mt:;ueipal charges, fines, or
<br />impositions, for which provision has not been made hereinbefoer, and will promptly deliver the official tetfSptt
<br />therefor to the said mortgagee.
<br />c. lle will pay such expenses and fees as may be incurred in the protection and maintensnce of acid
<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 reasonably incurred in anv other way shall be
<br />paid by the mortgagor.
<br />d. For better security of the indebtedness hereby secured, upon the request of the rnartgager., its
<br />successors or assigns, he shall execute and deliver a supplements( mortgage ar mortgages covrrin~ anv
<br />additions, improvements, or betterments made to the property hereinabuye described and all pral+eetq
<br />acquired by it after the date hereof !all in form anti;factory to mortgagee;. Furtherntare, should mortga~etr
<br />fail to carp any default in the payment of a prior or inferior encumbrance au the property described h}'
<br />this instrument, mortgagor hereby agrees to permit mortgagee to cure such default, but mortl:agee is t+oi
<br />oblfgaied fo do ao; and such adyartcea shah become part a[ the inriehirdm~ss secured by this ursirumeuf,
<br />subject to the same terms and conditions.
<br />e. "Che rights created 6y this conveyance shall ren+ain iu :all Curve and effect during any puatpuuruarut
<br />or extension of the time of the payment of the indrbtcdne-~: rridrncrd by s.+iel pmmis.ary note ur am paert
<br />thereo[ secured hereby.
<br />/. He will continuously maintain haaard insurance, of such type or types and in such amounts as the
<br />mortgagee may froth tines to time require un the improvement. now or ltrrraftrr tut ,.sit! prol}rrtti, :ual
<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 />loos 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 i[ not made promptly by
<br />mortgagor, and each insurance company concerned is hereby authorised and directed to make payment for such
<br />t.,~ directly to mortttaxc~ instead o[ to mortgagor and mortgagee jointly, and the insurance proceeds. ar any
<br />part thereo[, may be applied by mortgagee at its option r+itter to tixr r-ruuciio.. ut :::.:: ,•t,~b:r-~;:~_• k~.~.kv
<br />secured or to tlxe restoration or repair of the property darnagerl or destroyed. In event of fareclosur+° of this
<br />mortgage, or other irans[er of title €o said property in extinguialtment of the itade6€edneaa aeru:ed hereby, all
<br />right, title. and interrat of the mortgagor in and to any inatrrancr polieiea then in fore,- shall paw t:? the
<br />purchaser ur mortgagee ur, ut ihr op€imt of tl+e umrtgagre, ma. hr eurrrudrrrd fur a refund.
<br />g. lle yvill keep ell buildings and other ir-ttproictnrnlF on -aid pruperic zu _crutl repair and iotfdiliUU:
<br />will permit, conunit, ar softer uo waste, impairment, deterioration oi' said pruprrh nr any part thereof:
<br />in t-+e event of fuihtm of the mortgagor is kerq+ the buildings un raid prrwises :utd rho+e err•rtr+I un said
<br />premises, ar itupruvrmeuta thereon, itt good repair, tiu• tnortgagre u+ay rnakr curb n•pair,..+: in it• tli.rrrtirta
<br />it mey deem necessary for the proper prtsetcatiou thereof; and tEre [all anrount of each and rrcn .urh
<br />paynren€ shall lee immrdiatrl due and payable; and shall he secured h~ fire lien al' ttris mort~aae•.
<br />S, lle Will rani yoluritarily ercatr or permit fa br. created against the property srfhjec? to ?lnia mortgage anv
<br />lien or liens inferior or superior to the lien of this mortgage without the written consent n[ the mortgagee; and
<br />further, that hr rrili keep and maintain the pan+r !n°r (turn the ciaia+ of all I,ersuns -upl"~ing lab+rr ur
<br />n+aierinls [or construction of any and all buildings or in+pnrvenu•nth uuv. print: rn•rtrd or r.. fir r•rrrtrd nu
<br />said premises.
<br />i. ]le will trot rent ur assign ant part of the rent of said martguged pruprrt~ ur demulislt. t++ rrauut e,
<br />ur substantially alter anv l:uildutg without the written ruusrtu of the tuurtgagrr.
<br />i. ;'ll n~r=~s o[ ;la..-=fiyE .., tut;s,~. =~,tt wi.h =?ay _~,ute' tt_ts=k:,;x;t fear r.shlir tc-r -...,,- ,::ju€k t:; ~ _ =if tlar
<br />propcrft sttl+jrcf fu this nrarfgagr are hereby assigned annd shah be paid fo ttrorigaaee, rvho mar apply thr
<br />same to pucenr•nt o[ for insudlnu•utx lea due under said uutr, anti n+urtgager i. hrmhv authari:rd, in the
<br />name ui the mortgagor, to execute and rlehver valid acquittances tlrerraf and to apliral iratat attr steep ar.anl.
<br />A. •I'hr nrortgagec shall ha+r the right to inspect the nu+rtgaged prrrnisr- at and rr;+.onablr time.
<br />2. Default in any of the covenants or conditions of ?his inatntment or of the note or loan agreement secured
<br />hereby shah terminate the mortgagor's right to poesessian, use, and enjoyment o[ the property, at the option of the
<br />mortgagee, ar his assigns !it being agreed that the mortgagor shall have such right until default 1. Upon any such
<br />defauh, the mortgagee shalt beconre the owner o[ all of the rents and profits accruing after default as seenrin
<br />Cor the indebtedness secured hereby, with the right to enter upon said property for the purpose of collecting such
<br />rents ar_rl peoftts, 't'his instrument shall operate ae an amignment of say rentals on said property to the? extent.
<br />S9A Ftl RM E23 !~=?3)
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