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<br />,Said-psomiseery note was given to secure a loan in which the Small Bnsinees Administration, an agency of the
<br />United States of America, has participated. In compliance with section 101.1 (d) of the Rules and Regulations of
<br />the Si>EaII Bnair•.ese Administration [73 C.F.R. Ibl.l(dl,], this instrument is to be construed and enforced is accord-
<br />ance with applicable Federal law.
<br />1. The mortgagor covenants aad agrees as fellows:
<br />a. Ile will promptly pay the indebtedness evidenced by acid promimory note at the times and' in the
<br />manner therein provided.
<br />b. He will pay all nixes, aeeesementa, water rates, and other governmental or tnt~;eipal charges, fines, or
<br />impaeitiana, for which provieioe has not been made hereinbefore, and will promptly deliver the o(fciat receipts
<br />therefor to the said mortgagee.
<br />a He will pap such expenses and fees as may be incurred in the protection and maintenance of said
<br />property, including the (eee 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 an}• other
<br />litigation or proceeding affer,4ing said property: Attorneys' fees reasnnabh ineurrerl in any other way shall he
<br />oaid by the mortgagor.
<br />d. For better security of the indebtedness hereby secured, upnu the request of the mortgagee, its
<br />successors or assi.gnx, he shall execute and deliver a supplemental mortgage nr nulrtgagea covering any
<br />additions, improvements, or betterments made to the property Lereinubuve described and -all property
<br />acquired by it after the date hereof ~ al] in form satisfactory to mortgagee 3. Furthermore, shotil+} mortgagor
<br />fail to cure any default in the payment of a prior or inferior encumbrance on the property desrribed br
<br />this. instrument, mortgugar hereby agrees to permit mortgagee to yore curb default. but martgagee is nn;
<br />obligated to do so: and such advances shall become par of the indebtr•dnrss <,-cured by this instrument.
<br />subject to the same terms and conditions.
<br />+•. The rights created by this conveyance shall remait; iu full (Derr and effect during wq pustponrnu•nt
<br />or extension oC the time of the payment of the indrbtednr•.cs evidenced by >aid promissnrv note ur and part
<br />thereof secured hereby.
<br />j. He will rnntinuously maintain hazard insurance, of such type nr types and in such amounts ae the
<br />ntnrtgagee may Gnm time to time ,-squire ntt the improvement. now ur hereaFD•r „n raid pmperir, and
<br />will pay promptly when due anp premiums therefor. All insurance shall lx: carried in companies acceptable
<br />to m©rtgagee and the policies and renewals thereof shall he held by mortgagee and hove attached thereto
<br />lose payable clauses in favor oI and in form acceptable to the mortgagee. Ir. Brent of loss, mortgagor will give
<br />immedia4e aortae in writing to mortgagee, aad mortgagee ntuy ntnke proof of less if not made promptly by
<br />mortgagor, and each insurance campsay r=tncerted is l;ereby nutl;arizt±ti and directed eo stoke payment for such
<br />lose directly to mortgagee instead of to mortgagor and xnorlgap;ee iointly, an I the insurance proceeds, or env
<br />part 4'Itereof, maybe applied by martgagee ai. its option eititar t.n the rcductina of the indebtedness hereby
<br />secured or to the restoration or repair of the property damaged or destroyed. In event of foreclosure of this
<br />mortgage, or ether transfer of title to oaid property in extinguishment of the indebtedness secured hereby-, all
<br />right, title, and interest of the mortgagor in and to any insurance policies then in force e}tall pace to the
<br />purchaser or mortgagee or, ut the option of the wortgagce. mar br surn•ndere+l fur o refiual.
<br />g. He will keep all buildings and other impraye:ntnnts on .aid property iu gaud repair :uul runditimt:
<br />W'i!! leermvl, eemmit~ or sttFier no waste, impairment, deterioratim; of .aid property or auv part tharent:
<br />in the event of (allure of the mortgagor to keep the buildings nn :aid premises and those erected un anid
<br />premises, or improvements thereon, in good repair. the ntnrtgugrc vuq~ wake .,ue6 repaies as in its discretion
<br />it muy deem necessary for the proper preservation thereo L• and the full aumuut ul' rash :uul seen .uch
<br />payment sha12 be immediately due ^nrl pay abic: and shall be secured b. the lien of thi> over gage.
<br />h. He will nut voluntarily create or permit to he created against the property subject to this mortgage any
<br />lien or liens inferior or superior to the lien of this mortgage without the written convent of the mortgagee; and
<br />furebeq that he will keep and maialuin the saute Irer Frum thu claim ul all person- ,applying labor or
<br />- n4ateri9is for construction of any and all buildings or impruvenu•nts now heiug rrertrd nr to 6r rn•ctwl ou
<br />oaid° premiatb.
<br />i. lle will not rent oe assig,a uuy part of rho rent of .ai+l mortgaged properly or demolish, nr renu,t e,
<br />or subataulially alter arty huildiug without the written eonseat of tl;e nturtgager.
<br />j. AI! awards of damages in conucelim4 with guy condeutuatiou for public use. ul' ur injnrr Iu and of the
<br />property subject to this nwrtgage are hereby assigned and shall be paiil to nntrtgagee, who may apply the
<br />same w puctnent of tbr. installments lust due under said Hole, and mortgagee is 6erehr authorised, in the
<br />- name nE the mortgagor, to execute and deliver valid nequi[tances thereof aad to appeal from our .urh award.
<br />k. •Phe mortgagee shall bare the right to inspect the mortgaged premise. at arty nw..nuablr tinu•.
<br />2. Default in any of the covenants or conditions of this instrument or of the note or loan agreement secured
<br />l+greby shall terminate the mortgagor's right to possession, use, and enjoyment of the property, at the option of the
<br />mortgagee or leis assigns fit being agreed that the mortgagor shall have such right until default). Lpon any such
<br />+jefault, the mortgagee shall become dte owner of all of the rents and profits accruing after default ua aecuritc
<br />for the indrbtedneae secured hereby, with the rialtt~to enter upon said properly for the purpose of collecting such
<br />rents and profits. This instrument shall operate as ab assignment oC aey rentals on said propern• to that extent.
<br />SaA FO HM 92a (2-r31
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