PANNELL, Presiding Judge.
On May 3, 1972, the SBA (Small Business Administration) granted a $25,000 loan to appellee, secured by a first lien on inventory, fixtures and equipment, with a proviso that appellee acquire hazard insurance and name the SBA in the mortgage clause. On January 10, 1973, appellee took out the required hazard insurance. About February 1, 1973, a fire occurred in the basement of the building occupied by the appellee, but was extinguished before...
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