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<br /> ++::� 3s The mortgagor covenants and agrees that if he ehall fail to pay said indebtedneee or any part thereof w6en
<br /> [� .'t�iie, or shall fai) to perform any covenant or agreament oi thia. inetrumeat or tt�e promiaeory note xcured hereby. [he
<br /> r } ',eiS`tire iiadebtedneee heroby eecnred ehall immediately beco"ioe due, payable, and colleetible without notice, at�ehe
<br /> i optiop of the mortgagee or aaeigna, regardleee of maturity.'artd tke mortgagee or hia aeeigns may beforo or after entry
<br /> ' , eejl eaid property without appraieement ( t�e mor[gagor ha,ving waived and aeeigned to the mortgagee all ' righta of
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<br /> i `aFprueement) :
<br /> ; � , e;�,' , ( � ) at judicial eale purouant to t6e proviaionepi28U.S.C. 2001 ( a ) : or
<br /> , � (i�) at tLe opdon of the mortgagee, either by auetion or by eolicitation of xaled bide, for the highest and
<br /> � ; best bid complying with ehe tezms of aale and manner of payment epecified in the publiehed notice of sale, fint
<br /> = giving four weeke' notice of the time, terme, and place of such eale, by advertiaement aot less than once
<br /> j during each of eaid four weeks in a newepaper publis�aed or diatributed in the county in which eaid property
<br /> ; u eitwted, aII ot6er notice being Hezeby waived by the mortgagor (and said mortgage�, or any penon oa
<br /> ' ; behalf of said mortgagee, may bid with t6e unpaid indebtedaem evidenced by eaid note ) . Said sale ehall be
<br /> held �t or on the proper[y to be eold or at the Federal, county, or city courthouse for the county in which the
<br /> prnperty ie located. The mortgagee ia hereby authorized to execute for and on behalf of the mortgagor and to
<br /> i deliver to the purchaser at auch sale a nuR'icient conveyance of eaid property, which conveyance ehall contaia
<br /> reeiLL as to, the happening of the default upon which the execution of the power of eale h�rein graated
<br /> � depends; and the eaid mortgagor hereby canstitutre and appbinte the mortgagee or any agent or attorney ot the
<br /> mortgag+ee, the ageat and attorney in fact of eaid mortgagor to make euch recitale sad to �ecute said
<br /> =j conveysnce and hereby covenants and agnes that the recitale eo made ehall be eSectnal w bar all equity or
<br /> ; � right of redemption. homestead, dower, and a11 other exemptions of the mortgagor, all of which are hereby
<br /> r ezpreesly waived and conveyed to the mortgagee; or
<br /> ; ( 1u ) take any other appropriate action purouant to etate or Federal etatute either in etate or Federal
<br /> � court or' otherwiee for the diaposition of the property.
<br /> � In the event of a aale ae hereinabove provided, the mortgagor or any pereon in poaeession under the mortgagor ehall �
<br /> j then become and be tenanta holding over and ehall Eorthwith deliver possession to the purchaeer at auch eale or be
<br /> � eummarily diep.�M d, in accordance with the provieiona of law applicable to tenanta holding over. The power
<br /> ? and ageacy hereby granted are coupled with an intereat end are irrevocable by death or otherwiee, and are q�anted
<br /> � as cumulative to the rcmediea for collection of eaid indebtedness provided by law.
<br /> j4. T6e proceeds of any eale of eaid propezty in accordance with the preceding paragrap6s shall be applied fint
<br /> ito pay the cwts and expsnses of said sele, the expeneee incurred by the mortgagee for the purpoee of protecting or matin•
<br /> � taining said p�operty, and s�asonable attomeys' fees ; aecundly, to pay the indebtednese secured hereby : and thirdly, ..
<br /> � to p`y aay eyepins oS excess to the; pereon or perwne legally entitled thereto.
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<br /> j5. Ia the event aaid property is wid at a judicial foreclosnre eale or pursnent to the power ot sale heninabove
<br /> ' j granted, and the proceeds aro aot auBcient to pay the total indebtednese xcured by thia instrument and evidenced by
<br /> ; eaid promissor7 note. the mortgagee will be entided to w deficiency judgnent for the unount of t6e deficiency wisCiout
<br /> `i resaa�d w apprsiaement.
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<br /> { 6. In the event the mortgagor faile to pay any Federal, etate, or local tax aseesement, income tax or other ta�c lien,
<br /> � charge, fee, or other expense charged against the property, the mortgngee ie hereby authorized at hia option to pay
<br /> I the eame. Any eums eo paid by the mortgagce ehall be added to and bernme a part of the principal amount of the
<br /> � indebtedneas evidenced .by esid note, ehbjeci to the eame terma and conditione. If the mortgagor ahall pay aad
<br /> Sdixharge the indebtedneea evidenced by said promieaory note, and shall pay such eums and shall diecharge all ta�cea
<br /> � and liena and the costs, feea, and expenses of making, enforcing, and executing this mortgage. then thie mortgage
<br /> j , ehall be canceled and surrendered.
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<br /> � ?. The covenanta herein contained ehall bind and the benefiu and advantaRee ehall inure to the reepective enc-
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<br /> ; cmwn and assigos of the parties hereto. Whenever ueed. the eingular number ehall inclnde ehe plural, the plural the
<br /> � ainsular, md the use of any gender shall include all genders.
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<br /> ; 8_ No waiver of any covenant herein or of the obligation eecured hereby ehall at any time therea[cer be held
<br /> � to be a waiver of the urms hereof or of the note eecured hereby.
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<br /> F 9. In compliaace with eection 101.1 (d ) of the Rules and Regulations of ttte Small Bnsiness Administntion [13
<br /> �- C.F R 301.1 (d) ], ihis in�trommt is to be conetrued and enforced in acwrdance with applicable Federal law.
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<br /> ` 10 A �ud�cial decree, order. or judgment hoiding any proviaion or portion ot thie imuvment invalid or un-
<br /> � eqforceahlq. sl�all not m any way impair or preclude the enforcement of the remaiaing provieione or portions of
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<br /> � th�a �trnmen�
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