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<br /> 3. The mortgagor-ooveiianw and agrees tltat if he ehall fail to pay eaid indebterinetla or an} part thereof when -
<br /> . due, or shall fui2 to petform any' covenant or agreement of this inetrument or the pcomienory noxe secured hereby, tl�e ,
<br /> � weniire indebtedness hereby eecured shali immediately become due, payable, and collectible wilhout siotice, at the
<br /> a _e�ption of the mortgagee, or aseigns, regardlese of muturity, end the tnortgagee or hie aesignE may heFore or after entr}�
<br /> ' '� ' aeli eaid propeety witliout appiaieement ( the martgaKor ;having waived an�i aeeigne�l to the mort�agee all right6 of ;
<br /> , . ^aPPraieement ) :
<br /> ( i ) at judicial sale -{>ocau�nt to the provieione:o'f 28 U.S.C. 2U01 1 a ) ; ur
<br /> ( n ) at the option of the mortgagee, either by auction or by solicitation of eealed bide, for the higheet and ;
<br /> beet bid complying with the terms of eale and manner of payment apecified in the pu}�lished notice oF eale, Sret ;
<br /> givin� four wr.eks' notice nF the time, terme, 'and place ol' such eate, b} advertieement not lees tl� an unce '
<br /> dui�ufg each of eai3 four weeka in a newspaper publiaked or distributed in the county in which said property
<br /> ie eituated, all other notice 6eing hereby waived by the mortgngor ( and eaid mortgagae, oY any pereon on
<br /> behulf of said morigagee, may bid wiih the artpaid indebiednesa evidenced by aaid nole ) . Said sa3e ahall be
<br /> held wt or on the property to be eold or at the Federal, county, or city courthouse for the county in which the
<br /> property ie located. The mortgagee ie hereby authorized to execute for and on behalf of the mortgagor and to
<br /> deliver to the purchaser at euch sale a eufficieat conveyance of eaid property, which conveyance ehall coutaiin
<br /> reciiale as to the happening of the default upon which the execution of the tower of sule herein granted
<br /> depende ; and the eaid mortgagor hereby conetitutee and appointe the mortgagee or any agent or attorney of ihe
<br /> mortgagee, the agent and attorney in tact �f eaid mortgagor to make euch recitals and to execute eaid
<br /> cocveyance and hereby covenanta and agreee -that ihe recitald eo made ehall be eHectual to bar all equity or
<br /> , ri�ht of redemptiun, honieetead, dower, and all c, ther exemptions ol' the murt�agor, all of whic3r :�re`herehy -
<br /> expresely waived and conveyed to the mortgagee ; or
<br /> (tu ) take any other appropriate actioti purauatst to state ur N'ederal �tutute either iu etatr. ur E'eJeral
<br /> , court` or othPrwise for 'the dispoeition of the property. = ' °'
<br /> : ' In the 'event of a eale as hereinbefore provided, the mortgagor or any persone in poaeeeeion "under the mort-
<br /> � �agor ehall xhen become and be tenants hqlding over and ehall forthwith delivec poeseesion to thr, p�irch��ser ' ut
<br /> such sale or be summarily diapoeseased, in accordance with the provieiona of law agplicable ti� tenantfi laolding ovea
<br /> The powet and agency hereby granted are coupled wit6 an interest aud vre irrevocable by dc:ath or uther�viee, ncd
<br /> are granted as cumulativa to the zemedies for collection of eai� indebtedness pro.�ided by law.
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<br /> 4. T , e�� or"}i1�'a"ti�' sale of eaid property in accordance with the preceding paragraphs shall be applied firet_
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<br /> - to pay th c ��i�uees of said sale, the expeneea incurred by the mortgagee for the purpase of protecting or main-
<br /> i taining n "�' y;eod-rsaeonable attorne}'e' feee ; eecondly, to pay the ii�debtedne�a necured hereb� ; and thirdly,
<br /> to pay any euipIus or exceas to the person ,or persone ,legally enlitled thereto.
<br /> : S. In tlae event said property ie eold at a judiciai forecloeure eale or pureuent to the power of eale hereinabove
<br /> , granted, and the proceeda are not suf6cieni Yo pay the total indebtednese secured by thie instrument"and evidenced by
<br /> eaid promiasory note; the mortgagee will be entitled to .a deficiency judgmenifor the emount of the defeciency without
<br /> " regard to apprauemenA
<br /> 6. In the event the mortgagor [ails to "pay any- Federal, atate, or }ocal tax �aNessmeut, income tux or utl�er tac
<br /> lien, charge; fee, or od�er expenee charged against the property the �r�ortgabee ie hereby authorized at liis option tu
<br /> � ' ` . ' pay the same. Any aums ao paid by the mortKagee shelI be added to and become a part of tl�e principal amount of the
<br /> indebtednees evidenced by said note, eubject to the same terms and conditions. If the mortgagor shall pay and
<br /> diecharge the indebtedneae evidenced by said promiseory note, and r�hall pay euch aums and ehall discharge all
<br /> taxes aad liene and the coets, feee, and expenaea of making, enforcing, and e�cecuting this mortgage, then thie mortgage
<br /> � ahall be canceled and surrendered.
<br /> 7. The covenants herein contained shall bind and tl�e benefite and udvm�ta�;ee bhall ine� re tu the r�sprctioe auc-
<br /> ceeaora nnd aesigns of ihe parties hereto. Whenever ueed, the ningular number ehall include the piural, the plural the
<br /> eiugular, aad the uee of any gender ehall include all gendere.
<br /> 8. No waiver of any covenant Lereiu or of the ubligution securrd hereb� ehall xt an� timi� therrxker be held
<br /> to be a waiver oF the terms hereof or of the note aeeured hereby. ,
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<br /> 9. A judicial decree, order, or judgment liolding any provieioa� or puruou ol' thie iiintrunient iuvalid ur uuei�- � +'� ",�
<br /> forceabte shall not in any way impair or preclnde the enforcement nf the temaining provieions or portione of thie � �,
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<br /> � 10. Any wntten notice to be issued,�to the mqrtgago� pursnant � to the provieiona of thie_ inetrument ehall be ad- � "�� � �:
<br /> .� .� dzeased to the atortg5�oz ut ,;.. .•. . .. . . . . . . . . . . . �. . . . . � . . . �, �` . . � . " � � . . .
<br /> snd mcy �rr_tlea aaoiice ta be iasaed to the mortgegee ehail
<br /> be addreeeed to the mortgagee at
<br />� � SBA FORM 92B ( 2-73 ) ' �
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