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Said promissory note wae given to eccu~e a loan in wl~ich the Sn~all Business Adminiatration. an agency ot the
United Statea o[ Americ~. has participatcd. In compliance with sectioa 101.1(d ) ot ihe Rulea and Regulstiona of
tl~e Smalt Businees A~lministration [ 13 (:.F.R. 101.1 f d 1 j~ thie ir~atrume~t ia to be construed and enforced in accord-
rnce with applicable Federat law.
l. The mortaegor covenants ~nd aarees as follows: .
a He will promptly pay the indebtedneas evidea~ced br aaid pcomiasory note at the timea u?d in tbe
manner therein providcd.
b. He will pay all tazea. sesesaments, water ratea, and other governmental or municipal chargca, ftnes, or
impoeitiona, for which ptovision haa not been made f~ereinbefore. and will pmmptly deliver the oEcial teceipts
therefor to the esid mortga6ee.
c. He wi1l pay such e~cpenses aad tces ae may be iacnrrcd in the protc~tion and maintenance of said
property, including the fees of any attorney employed by the mortgagee for the collection of any or all of
the indebtedneas hereby secured, or foreclwure by mortRa~ee'R eale, or court proceedin~s, or in an~ other
litigation or proceedip~ afiectin~ xaid property. Attorae}~~' feeF rea~onabl~• incurrPd in an~ ather wav aha)1 he~
paid bp the mortga~or. ~
d. For better eecutitv of ~he indebteJne~t? hereby secured, upoa the requrat of the niortKagee, ita
auceesaora or asaigns,~he ahall execute and deliver a aupplemental mortKaKe or mort~ca~ea co~•eriu~ am
additioas, improvements, or hettermenta made to the prop~rt~• hereinabove descrihed and all propertc
acquire~I U~ it aiter the date hereo[ ~ all in form satiafactory• to ntortga~ee 1. Fucthermore, ahoeld mort~eaKor
fail to cure an}• deiault in the payment of a prior or inPerior encumbrance on tlie propert}• desrribed 6v
this inatrument, mort~a~~r hereb~• a~rees to pern~it mort~a~ee to cure se~ch defaull, but mort~aKec~ it not
obli~[ated to do so; and sucii ad~~ances whall become part O~ lI1P 1D1~P~1IP1]11Pt~ri KPCU~PII IlV this inKtrumPnt,
subject to il~e aame tern~s and conclitiont.
The ri~hta created by thia com•e~•ance ehall ren~ain in [ull forcr and eBect during ant~ ~?uitpuncmrnt
or extension of the time of the pa~-ment of the indebtednes~ e~•idenced h~• +ai~l promi~:ory notP or anc part
thereof secured hPreb~. .
f. He will continuoualy maintain hazard ineuranca,,o# such type or types and in euch amotu~ts as the
mort~a~ee may from time to "time require on the' improvementa ~ow or hereafter on ~:ai~l ~~ropPrl~-, and
will pay promptly when due any premiuma therefor. All inaurance ehall be curied in companies acceptable
to mortgagee and the policiea and renewala thereof shall be held by mortgagee and have attached iherew
Iosa pa~ able claueea in favor of and in form acceptable to the mortgagee. In event of loes, mortgagor will give
immediate notice in writiag to mortgagee, aad mort~agee may make proof of loee if not made pmmptly by
mortgagor, and each inaurance company concerned i6 hereby authorized aad directed to make pay~nent for auch
loea directly to mortgagee inatead of to mortgagor and mortgagee jointly, and the ineurance. prooeeda, or any
part thereof, may 6e applied by mortgagee at ita option either to the reduction o! the indebtednese henby
aecured or to the restoration or repair of the property damaged or deatroyed. In event of forecloeure of thia ~
mortgage, or other tranafer o[ title to aaid property in extingui$hment of the iadebtedneae aecured hereby, all
right, title, aad intereat of the mortgagor in and to any insurahce policies then in foree ahall paea to the
purchaaer or mortRagee or, at tl~e option o[ the mort~aRrc, may hr aurr~~n~~rred fur a refund.
g. He will keep all buildin~s and olhcr impro~~ements on •aid pro~~~ rt~- in ~;ood repair and condition:
N ill permit, commit, or suNer no ~saste, impairment, deterioration of ~aid prupert~ or an~~ part thereo[:
in the event of failure of the mortgagor to keep the buildin~s on aaid premiseF and tho:ze erecied on said
~,remisea, or iniprovements thereon, in good repair, ~the mort~agee may make,euch rcpairs as in its dincretion
it may deem neceasar} for the proper preservation thereof; and the [u1) amount of each and e~•Pn~ Fuch
payme~it sfiall be immediatel~ due and payable; and ehall be seeured b~ the lien of thiF mort~aKe.
h. He will not ~oluntarily create or permit to be ceeated againet the property subject to thia mortga6e any
~ lien or liena inEerior or superior to the lien of thie mort~age without the written coneent of the mortgagee; and
~ further, that he Nill ~Ceep and maintain the ea~ue free from tl~e clai~n of a!1 ~?ertons supphinR labor or
t
materiale for conatruction of any and afl buildin~[a or improvementK n~w }~in~ Prected or to be erected ou
said premises.
i. He will not rent or assi~n anv part of the rent o[ aaid mortgaged propert~~ or demnlish, ur remo~r,
or sub3ts~ntialh- alter an}~ buildinq h-ithout the written conRent of the mort~a~e~.
j. All awarda of damages in cannection with an?- condemnation ior public u~e of or injur~ to an~- o( the
propcriv eubject to this mort~a~e are herPb~• assigned and ehall be paiil to mort~taKee, M•ho ma~~ aE?ph• the
e~ame to pa~•ment of the inatallmente laet due under eai~l note. and mort~a~ee i• herebr autiioriaed, in the
name of thr mortgaKor, to exec~ite and deli~~er calid acquittances thPrPOf and to app~al Fron~ ati~• ouch award.
"rhr mortRaKeP ~hall ha~c~ thP ri~ht to inrpecl thP mortK:~~eJ premis~•• at an~~ rr~+rionablP tim~•.
2. Default in any of the covenanta or conditioae of thia inatrument or of the note or loan a~reement eecured
hereb~ ehatl terminate the mort~a~ror'e ri~ht to poeaeaeion, uae, and enjoyment of the property, at the option oi the
mortga~ee or hia assi~ns /it being agreed that the mort~agor Shall ha~e euch right unW def~ult).'•~pon any such
default. the mortRa~ee Ahall become thP owner o( al) of the reenta and pmfita accrnin~ a~ter default ae .ecnrit~
for the indebtednec~ secured hereb~, with the right to enter upon eaid property for the purpoae of collecting such
rents and pro6ta. This instrument shall operate as an aeaignment oE any rentala on said propert} to that eatent. ,
~i~
~BA Form 4.7, (!4-"[1 '
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