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Said proaniuory note was given tq cure a loan in which the Small Bwutea Adntin~str~tign, an agency of the
Ualted States of America. has patt[capated. ~n compliance with section lOl.l(d) of the Rules and Regulatiotu of
the Small Business Admiairtration [ 13 C.F.R. 101.1(d) this instrument is to be corutrtied and enforced in accord-
ance with applicable Federal Lw. -
l. The mortgagoc covenants and agrees as follows:
s. He will promptly pay the indebtedness evidenced by said promissory note at the times and In the
manner therein provided.
b. He will pay all tares, assearasents, water rates, and other governmental or munlcipal charges, fins, or
impositions, for which provision has not been made hereinbe[ore, and will promptly deliver the o~cial receipts
therefor to the said mortgagee.
c. He will pay such expenses and tees u may be incurred in the protection and maintenance of said
property, including the fear of any attorney employed by the mortgagee for the collection of any or all of
the indebtedness hereby secured, or foreclosure by mortgagee's sale, or court proceedings, or in any other
litigation or proceeding a6ecting said property. Attorneys' fees reasonably incurred in any other way shall be
paid by the mortgagor.
d. For better security of the indebtedness hereby secured, upon the request of the mortgagee, its
aucceesors or assigns, he shall execute and deliver a supplemental mortgage or mortgages covering any
additions, improvements, or betterments wade to the property hereinabove described and all property
acquired by it after the date hereof (all in form satisfactory to mortgagee) . Furthermore, should mortgagor
fail to cure any default in the payment of a -prior or inferior encumbrance on the property described by
this instrument, mortgagor hereby agrees to permit mortgagee to cure such default, but mortgagee is not
obligated to do so; and ouch advances shall become part of the indebtednefu secured by thin instrument,
subject to the same terms and conditions. '
e. The rights created Ly this conveyance shall remain in full force and effect during an} poelpune:urnt
or extension of the time of the payment of the indebtedness evidenced by saifl promisson• note or any earl
thereof secured hereby.
He will eontinuowly maintain hasard insurance, of such type or types and in such amounts as the
mortgagee may from time to time require on the improvements now or hereafter fin, said properly, and
will pay promptly when due any premiums therefor. All insurance shall be carried in companies acceptable
to mortgagee and the policies and renewals thereof shall be held by mortgagee and have attached thereto
loos payable clauses in favor of and in form acceptable to the mortgagee. In event o[ loss, mortgagor will give
immediate notice in writing to mortgagee, and mortgagee may make proof of loss if not made promptly by
mortgagor, and each insurance company concerned is hereby authorised and directed to make payment for such
for directly to mortgagee. instead of to mortgagor and mortgagee jointly; and the insurance proceeds, or any
part thereof, rosy applied by mortgagee at its option either to the reduction of the indebtedness hereby
secured or to the reatontion or repair of the property damaged or destroyed: In event of foreclosure of thin
mortgage, or other transfer of title to said property in ~:tiriguiahment'of the indebtedness secured hereby, all
• right, title, and interest of the mortgagor in and to any insurance policies' then it1' force 'shall pass to the
purchaser or mortgagee fSP. at the option of the mortgagee, may be aurrendrrcyl [or a rehuul.
g. He will keep all buildings end other improvements oh said property ih good repair and condition:
will permit, commit, or suNer"no waate~ impairment, deterioration of said property or any part thereof;
in the event of failnrri of the mortgagor~tb keep the buildings on acid premises and those erected on said
premises, or improvements thereon, in good repair, the mortgagee may make aucl~ repairs aR in its discretion
it may deem necessary for the proper preservation thereof; and the full amount of each and even- such
payment shall be immediately due and payable; and shall be secured by the lien of thin mortgage.
He will not voluntarily create or permit to ba created against the property subject to this mortgage any
lien or liens inferior or superior to the lien of this mortgage without the written consent of the mortgagce; and
further, that he will beep and maintain the same free from the claim of all persons supplying labor or
materials for construction of any and all buildings or improvements now heintc erected or to he erected on
said premiss.
r. He will not rent or assign any part of the rent of said mortgaged property or demolish. or remove.
or substantially alter any building without the written consent of the mortltaRee.s
j. All awards of damage in connection with any condemnation for public use of or injury to any of t{fe
property subject to this mortgage are hereby assigned sad shall be paid to mortgagee, who may apply the
same to payment of the installments last doe under said note, and mortgagee is hereby authorized, in the
name of the mortgagor, to ezecute and deliver valid acquittances thereof and to appeal from am- such award.
A. The mortgagee shall have the right to inspect the mortgaged premises at am• reaROnable tine.
2. Default in any of the covenants or conditions of this instrument or of the note os loan agreement secured
hereby shall terminate the mortgagor's right to possession, ueq and enjoyment of the property, at the option of the
mortgagee or his assigns (it being agreed that the mortgagor shall have such right until default). Upon any such
default, the mortgagee shall become the owner of all of the rents and pro6ta accruing after default as security
for the indebtedness secured herby, with the riultt to entry upon said property for the purpose of collecting such
rents and profits. This instrument shall operate ae an assignment of any rentals on said property to that extent.
SAta FA RN O]N f7~7 ~1