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<br />Said promissory note was given la secure a loan in which the Small Business Administration, an agency of the
<br />United States of America, has participated. In compliance with section IOI.Ifd} oC the Rules and Regulations of
<br />Lhe Small Business Administration j13 C.F,R. 101.11 d ~ !, this instrument is to be construed and enforced in accord-
<br />ance with applicable Federal taw.
<br />1. The mortgagor covenants and agrees as follows:
<br />a. He will promptly pap the indebtedness evidenced by said promissory note at the-times and in-the
<br />maltase therein provided.
<br />b. He will pay all taxes, assesamenta, water rates, and other governmental or tra:.:2ipai charges, find, or
<br />impositions, for which provision has not beta made heceinbefore, and will promptly deliver the ol6cial reieigL'
<br />therefor to the said mortgagee.
<br />, c. He will pay such expenses and Feea as may be incurred in the protection and maintenance: of said
<br />property, including the fees of ary attorney employed by the mortgagee for the collection of any or all of
<br />the indebtedness hereby secured, or foreclosure by mortgagee'. sale, or court proceedings, or in any other
<br />litigation or proceeding affecting said property. Attorneys' fees re:+sonahty incurred in am' other wac shall he
<br />paid by the mortgagor.
<br />d. Fot better secuaty of the indebtedness hereby secured, apou the request of the mortgagee, its
<br />successors or assigns, he shall execute and deliver a supplemental murtgagr• nr mortgages covering any
<br />additions, improvements, ur hettennents made to the proprrtc hereinabore described and all property
<br />acquired by it after the date hereof ~ all in form satisfariorc to mortgagee i. Furthermore, should mortgagor
<br />fail [u cure anv default in the payment of a prior nr inferior encumbrutee on the pn,perh~ described by
<br />this instrument. mortgagor hereby agrees to permit mortgagee to ,-ore ~ueh default, but mortgagee is not
<br />obligated to do so: and such adyancas ,hall becon+e part ref the indebtrdns..rcurrd hy_ this instrument.
<br />subject to the same terms and conditions.
<br />e. The rights created be this concevaner .hall remain iu (all force and elfeet d+oring aua pustpmuvue•nt
<br />or extension of the time of the payment of the indehtedness evidenced by .aid promisors Hole or stn parr
<br />thereof secured hereby.
<br />j. He will continuously maintain hazard insurance, of such type or types and in such amounts as the
<br />mortgagee ntav from time to time require un the improvement. noaa or Irrrealtrr ou -aid prop,~rta, ;utd
<br />will pay promptly when due any premiums therefor.:114 insurance shall be carried in companies acceptable
<br />to mortgagee and the policies and renewals thereof shall be held by mortgagee and flays 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 may make proof of loss if not made promptly by
<br />mortgagor, and each insurance company concerned is hereby authorizers and directed to make payment for each
<br />loss directly to mortgagee instead of to mortgagor and mortgagee jointly, and the insuranc° 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 mstoration 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 extitrguishment of the intlebtedneea secured hereby, all
<br />right, title, and interest of the mortgagor in and to any insurance policies then in (ores shall pass to the
<br />purchaser or mortgagee or, at fire option of the nwrtgasrr. nn+a he .urrrudrrcd fur :+ refuu+{.
<br />g. He will keep all buildings and other impro.entents uu .aid proprrts iu _oud celeste and eunc4ilims:
<br />ycill permit, commit, or suffer no waste, impairment deterioration of ..=aid property or au. part thereof:
<br />in the event of failure of the mortgagor to keep the building. on said premises and those erected un said
<br />premises, or improvements dtereon, in good repair, the mortgagee nraa u+al.r -ucii repairs a.+ in its discretion
<br />it may deem necesaar~ fur the proper preseryatim+ thrrecrf; sad the foil antauut of each and rare. ,urL
<br />payntrru sball be flame-rliatel} etas and payable: auJ shall he ~currd ba the lien of thi.• murt_agr.
<br />h. He r.'ill not yoluntarih create or permit to be created against the property subject to this mortgage any
<br />lien or liens inferior or sulxrior to the lien of this txtarigage without the w-ritteu consent of the mortgagee: and
<br />fµrthcr, that he ..ill i:eep sou maintain the same free from tier claim .d aH I,r r~uun .t,ppla inq labor or
<br />materials for cans! ructiurt of any and all buildings or iutprovcu+. nt. nos, brace ~ rcctc,l .,r t+, hr ,•rrctrd uu
<br />acid premise:.
<br />:. Ne will not rent ur assign an} part of the rrrtt of raid mortgaged props eta or den+olish. or reusu+e.
<br />or .ub=iautialiv alter any huiidittg without the written couseut of tl+e mortgagee.
<br />j. All awards of damages in connection with an} condenu+ation for public is-e of +rr injur. v. aul of the
<br />propene subject Ur this tnurtgage are hereby a~ignrd and ,hall be pais4 io mortgagee, wlto rosy app!} the
<br />~au+e to pavnrnt of the iastallmeu rs last due umlee said ante, and rourtgagrr i. hen•ha authorized. in the
<br />name of the mortgagor, to execute and de4iyer valid acquittaurr„ thereof and t,r .y>prs! from am such aa:anl.
<br />~. '['hr tuyngagee Rhall ha,re the right to inspect the mortgaged prruu~e..+t ana res.-oushlr Inu,~.
<br />3. ihfault in any of the covenantt nr conditior+s of t4+is instrument or of the note or Ioan agreement secured
<br />hereby shall terminate the. moMgagur's right to poasc~aion, use, and enjoyment u( the property, st t)te option of the
<br />«mrlgSgec or his assigns tit being agreed that the mortgagar shall trays st:ch ri};ht until default 1- l~poa any such
<br />default, the. tnartgagre shall become the owner of all of the rents and l,rufits accru+ng :+fter default as sr•cttrita
<br />fns the iadebtedncaa secured hereby, with t}tr. rirzht ta,er+ter upon said i,rupcrir for the purpose of collecting sacra
<br />rereta and profits. This instrµtneni shall operate as an a~aiptment of any renta4s on said property to that extent.
<br />c- ,
<br />h2n cur «tM 4La f:~-1,~
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