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<br />Said promissory note was given to iecure a loan in which the Small Basineas Administration, an agency of the
<br />United States of America, has participated. In compliance with section IOL1(d) of the Rules and Regntatians of-
<br />[he Srteall Business Administration (23 C,. F.R. 202.1{d?), this instrument is to be corratrrted and enforced in accord- ~_
<br />seas with applicable Federal law.
<br />1. The mortgagor covenants and agrees as follows:
<br />a, He will promptly pay the indebtedness evidenced by said promissory note at the times atul in the
<br />manger therein provided.
<br />b. He will pay all taxes, asaerlements, water rates, and other governmental or ttt:tr.:eipel charges, fitmasa or
<br />impositions, for which provieioa hoe not been made hereinbefore, and will promptly deliver the o9'icial reoefpu
<br />therefor to the said mortgagee.
<br />c. He will pay such ezpensee and fees as may be incurred in the protection and rltainuttanee of said
<br />property, including the fees of any attorney employed by the mortgagee for the collection of any or aU 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 proper[}': Atzornevs' fees reawnahh' incarrerl in anv other wav shell he
<br />paid by the mortgagor.
<br />d Ear better securih• of the indebtedness hereby secured, upon the rryurst of the mortgagee, its
<br />successors or assigns, he shall execute and deliver a supplemental mortgage or mortgaltes covering anv
<br />additions, improvements, or 6ettermenta made to the proprrh hcn:inabuvr described and -all propertv
<br />acquired by it after the date hereof +ail in form satisfartan" to naurtgagrr+. Furthermore, ahauld mortgagor
<br />fail to cure anv default in the payment of a prior ur inferior encumbraner on the prupertc deaeribed he
<br />thin instrument, mortgagor hereby agrees to permit mortgagee to rare such default. but mortgagee is not
<br />obligated to do so: and such advances hall beromr part of the inrlehtrdnc<..rrurrd he this instrument.
<br />subject io the ,ame terms and conditions.
<br />c, The right. rrs:aed !>-. il:is vuveyance shall remain in full farce and cttect +lnring atq puatpunrutenl
<br />or extension of the time of the payment nl the indebtedness evidenced he said promissory note ur anv parr
<br />thereof secured heretic.
<br />J. He will continuously maintain haaard insurance, of such type or types and in such amounts as the
<br />mortgagee may from time to tila~ rryuire on the improvements now ur hrrruftrr un ,aid f+rop,•rh. .utd
<br />will pay promptly whoa due any premiums therefor. All insurance shall he carried in companies acceptable
<br />to mortgagee and the policies and renewals thereof shall be held by mortgagee and have attached thereto
<br />loss 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 [nay make proof of loss i( nol made promptly by
<br />mortgagor, and each insurance company concerned is hrrrby authuriard and directed to make payment for such
<br />loss directly to mortgagee instead of to mortgagor and mortgagee jointly, and the insurance proceeds, or aay
<br />part thereof, may be applied by mortgagee at its option either to the reduction of the indebterhteae hereby
<br />secured ur to the reatoratiun or repair oI the property damaged or destroyed. In event of farrtloaure of this
<br />nwrtgage, or other transfer of title to said property iu extinguishment of the indebtedness secured hereby, a!i
<br />right, title, and interest of the mortgagor in and to any insurance polities then in farce shall pass to the
<br />purcitasc•r or mortgagor or, at ihr option of the nmrtgugr+•, vuav br ,urrrndrrr+l fur a refund.
<br />!;, I{e will keep all buildings .old ether improvement. un paid prupert) in . )ud repair :Ind ruuditiolt:
<br />NiII penult, commit, ur suffer nu waste, inq)uirmeat, delerioratiou of said pruprrty ur anv part thrrrof:
<br />in the event of failure of the nwrtgagor to keep the buildings un said prrwises and those erected un said
<br />premixes, or inq)rovements therev)u• in gawd repair, the mortgagee u)ay make snob n•pairs a., in its diserrtinn
<br />it may deem necessan for the proper preservation thereof: and the full amount uP raoh and ever. such
<br />payntrnt shall br inuuediuteh" due sad pay able: and shall 6r secured by the lira of this nurct gage.
<br />h. He will nut voluntarily treats or permit to be created against the property subject to this mortgage any
<br />lien or lima inferior or superior to the lien of this mortgage without the. written cunarnt of the mortgagee; and
<br />lurther, that Ill' wtll keep and maintain the -sole Iree lean t1L• +"laim .+1 all prrsuns supphing labor ul
<br />materials fur rourtntelion of au}" and all 6uildiugs ur inlpruvrm••uts uuN being ~ n•rp•d or to be erected ou
<br />said premise>.
<br />e. He will not rent ur assign an} part of the rent of said nuutgagrd prup+vty ur demolish, or rrmuur,
<br />or suhauntially alter :+n} building N'It11aUt flip N'nlten f+plM'Ut rf the mortgagrr.
<br />j. :\II awards u( damages in eouurMwn with anv ruudeuulaliuu Fur puhl)e use +.I ur iujwv t++ aui of 16r
<br />pruprrt~ subject W dtia murtgagr arc hrrrby assigned an,l sf1all hc• puul to n1ur1{iager, who may al.ply Ihr
<br />-aloe U. pa)wrut of the installntruts last due under =aid nutr• and u)urtgagee i, herelrv =ruthurisrd, in the
<br />name n[ tln• rnortgagoq to rxrerue and deli+rr valid acyuinanro.. therrol' and to ,yy,+•al from anv -urh :n.anl.
<br />k. I•hr uwrtgager shall Irau• the right to insprrl the nu)rlgaped preuusr, nl ant re•.ann.r blr• Una
<br />2. Defsult in anv of the rnvenants or condilioaa of thin instrument or of the nuts or loan agreement secured
<br />hereby shall terminate. the mortgagor s right to poaaraaiwt, ace, and rnjo}ment u( the property, ai the uptiwt of the
<br />mortgagrr or his ussigttn lit lxing agreed that the ntortgagur shall have .such right until da•fault). l~pun any quell
<br />default, the mortgagrr shall become the owner of all of the rents and profits arcrving after default as ~ccurity
<br />for ihr indebtedness secured hrrrby. whit tla+ rilaht to enter upon said property lag the purpuae of rullecung ouch
<br />rents and pruha. This instrument shall operate as an assigtUnent of any rentals on said propcrn to that rctrnt.
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