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<br /> 3. The mortgagor covenunts nnd ugrees that if he eLull fail to pay eaid indebtednese or nny pnrt thereo[ when
<br /> ilue,jor ehull fail to per(orm ony covenant or agreement of thia instrument or the promiseory note aecured hereby, the
<br /> entire indeLledneas hereby eecured ehull immediately bqcome due, pay�able, and collectible without notice, at the
<br /> � aption o[ the mortgagee: nr neeiRns, regardleen of maturity, und t6e mortg�gee or:hie aBsigne may be(ore or atter entry
<br /> se11 eaid property without appraieement (the mortgngor having waived 'und nesiqned tn the mortgagee n!I rights of
<br /> ; uppraieement) :
<br /> ° ( � ) ut juJicinl aule purauant to die provisione oi 28 U.S.C. 2001 ( a) ; bt
<br /> ' (u) at the oplion of the mortgugee, either by uuction or by eolicitadon ot eealed bide, for the higheet and
<br /> beet bid complying with the terme oi eale and manner of payment epecified in the publie4ed notice o[ eale, firet : -
<br /> giving four weeke' notice of the time, terme, and place of eucli eale, by advertisemenf'not leea thun once
<br /> yduring each o[ euid four weeke in a newepnper publiehed or diatri6ufed i�i the county in which eaid property
<br /> ia eituuted, all other notice being Lereby wnived by die mortgagor (and eaid mortgagee, or any pereon on
<br /> behalf bf eaid mortgagee, may bid with the unpaid indebtedneae evidenced by eaid note) . Said enle ehall be
<br /> held at or on the property to be eold or ut the Federal, county, or city courthouse for the county in which the
<br /> property ie loceted. The mortgogee ie hereby authorized to esecute far and on behalf of the mortgagor and to
<br /> deliver to the purchaeer nt euch eale a eu�cient conveynnce o[ enid property, which conveyanca ahull contain
<br /> recitale ae to the happeaing of the default upon which the execuuon ot the power of eale herein granted
<br /> � ' dE(lCOdB: end the eaid mortgngor hereby conetimtes nnd appointa the mortgagee or any agent or attomey of the . � �
<br /> " �� mortgagee, thc agent and attorney in fact ot eaid mortgagor to make euch recitele and to 'ezecute enid
<br /> conveyance and l�ereby coveuanu and agreee that tl�e recitale eo made a(inll be eRectual to bar all equity or
<br /> ' right oE redemption, homeetead, dower, and all other exemptions of the mortgagor, all o[ whicli are hereby
<br /> expreesly waived and conveyed to the mortgngee ; or
<br /> � ( m ) take any other apprapriate nction purauant to etote or Federal etatute either in stute or Federul
<br /> court or otherwise for the .dispoeition pf the property.
<br /> In the' event of a ealc na hereinnbove pmvided, tl�e mortgngor or any peraon in poseeseion under the mortgagor ehnll
<br /> ; d�en become nnd be tenants holding over nnd aliall (orthwith deliver posseeeion to the purc6neer at such sale or be
<br /> summnrily dispoesessed, . in accurdance with tl�e provieione of ]nw applicable to tenante holding over: The power
<br /> anJ uRency hereby Franted are coupled with an intcreat and nre irrevocuble by death or utherwise, nnd nre granted
<br /> ` '' aa cumulntive to the remediea for collection of eaid indebtedneas provided by law.
<br /> ' 4. The:proceede of an eale of:eaid properiy in accordnnce with the preceding paragraphe ehall be epplied firet . ;
<br /> � to pay the coeta ati� efc�S6�efl, i tp1��;'ea�e, the expeneee incurred by the mortgagee tor the purpoee ot protecting or main• �
<br /> r ,r rr i; � sr<< e: � . ,
<br /> `' tnining �aid;y,k6,�,f�}y�earocwlila.6ttorncys feee; secondly, to puy tlie indebtednees secured fiereby ; and thirdly,
<br /> y to puy uoy surplus or exceee to the person or peraone legslly entided lheceto.
<br /> 5. In the event eaid property ie eoid ut a judicial forecloeure eale or pureuant to the power of eale hereinabove
<br /> gra�ted, and the proceede are not eufficient to pny the totnl indebtedneee eecurod by thie inetrument and evideneed by
<br /> eaid promieeory note, the mortgagee will be entitled to a deficiency judgment for the amount of the deficiencywithout
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<br /> regard to appmuement.
<br /> ' 6. In the event the mortgagor fails to pa}• any Fcderal, emte, or local lax aseessment, income tax or uther tax lien,
<br /> � cl�arge, [ce, or oll�er expense c6nrged against the property, thc mort�;agee is hereby authorized at his option w pay
<br /> ; the eame. Any eume eo paid by the mortgagee shall bc ndded to and becmnc n purt of the principal nnwunt oi the
<br /> indebtednese eti�idenced by eaid note, subject to d�c eume tenns and conditione. 1f the mortgngor ehall pay and
<br /> � diEcharge the indebtedness evidenced Ly said promiesory note, and shall pay such eums and sha11 discharge all tnxea
<br /> and lienR nnd the coete, feea, nnd expenaes o[ mukinF, enforcin�, and executing thie mortguge, then thie mortgnge
<br /> a6all be canceled and surrenJered.
<br /> 7. The covenante hcrein containcd ehall bind and tl�e benefite and alvantnRee ehell inure to the reepective sua
<br /> ceseore and aeeigne of the pariiee hereto. Wheneve� ueed, the eingular number ehel! include the plural, the plural the
<br /> eingular, and the ux of any gender ehall include all geadere.
<br /> 8. No waiver o( uny covenant herein or oC ihe obligation aewred hereby el�all ut nn}• time therea[ter be held
<br /> ' to be a waivec o[ the terms hereof or of the note secured herebv.
<br /> , 9. In compliance with eection 101.1 ( d) o( the Rulea and Regulatione oE the Smull Bueineas Adminiatration [13
<br /> C.F.R: 101.1 (d ) ), thie inetrument ie to be conetrued and en[orced in accordance with applicable Federal luw.
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<br /> 10. A judicial Jecree, order, or jud�rtnent holding nny provieion or portion of thie inetrument invalid or un- ' . �, ;;s
<br /> enforceable ehull nat in any way impuir or preclude the en[orcement of the remnining ptovisiona or portione o( N � '�:^
<br /> � thie inetrument. • �
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<br /> SUA Futm Y27 (3-78) '
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