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<br /> �� ' . - .78-. t � ( ► 3014
<br /> ` 3. TLe mortgugor covenants and agrees that if he e�hall fail to pny aaid indebtednea� or an�� part tl�ereaf when
<br /> due, or aLall fail to perform any co��enant or agreement of this instn� ment or the p�oiuissor�• note secured hereby, thc
<br /> entire indebtednras hereby secured shall i�nmediately become due, pay�ble, and collectible without notice, at the
<br /> option o[ the moztgagee or assi��s, regardleas of matnrity, and the tnortg•rgee or his assign� maJ• before or after entry I
<br /> 6e11 aaid proyerty without appraisement 1 the mortgator having waived anA assi�;ned to the mort�a�ee all rights of
<br /> appraisement) v
<br /> ( � ) at judicial snle •puresuant [o the provisiona of28U.S.C. 2U01 Is� ) ; ur
<br /> (ii) at the option oF the mortgagee, either by auctioa or by eolicitation of sealed bida, for the hishent and
<br /> beat bid comp2ying with the terms of eale and manner of payment specified in the published notice oF aale, firat
<br /> giving four weeke' notice oC the time, terms, and place ot xuch salc, by adverti+ement not lees tl�an �nce
<br /> during each of esid four weelw in a aewspaper published or dietributed in the county in which aaid property
<br /> ie situated, all other notice being hereby waived by the mortgagor ( nnd eaid mortg�gee, or any penon oa
<br /> behalf of eaid mortgagee, may hid with the unpaid indebtedness evidenced by aaid note) . Said sale ehall be
<br /> held at or on the property ta be eold or at the Federal, county, or city courthouse for the county in which the
<br /> property is located. The mortgagee is hereby authorized to execute for and on behalE of the mortgagor and to
<br /> deliver to the purchaser at euch eale a aufficient conveyance of said property, which conveyance ehall coatain
<br /> recitals ae to the happeaing of the default upon which the execution of the power of aale herein graated
<br /> dependa; and the eaid mortgagor hezeby conetitutea aiid appoints the mortgagee or any agent or attoraey of the
<br /> mortgagee, che aga:nt aod attoraey in fact of said mortgagor to make euch recitale and to execute eaid
<br /> coaveyance and hereby covenante and agreee �hat the recitals eo made ahall be effectual to bar all equity ot
<br /> right of redemption, I�omeetead, dower, and all other exemptione of the mortKagor, a11 of which are hereby
<br /> expreasly waived and conveyed to the mortgagee; or
<br /> (ttt) take any other upproprinte action purauant to ntate or 1�'ederal Btatute either in atatr or P'edrra(
<br /> wurt or othnrwix for the dispoeition of the property. �
<br /> In the event of a eale as hereinbeFore provided, the mortgagor or aay pexaoas in poeee.�aion nader the mor4
<br /> gagor ehall then become and be tenants holding over and shall forthwith deliver posseasion to the purchaeer at
<br /> auch sale or be summarily dispos,sessed, in acrordance with the provisions of law applicable to tenanta holding over.
<br /> Tl�e power and agency hereby granted are coupled with an interest pnd are irrevocable by death or utherM•iae, nnd
<br /> � . are grunted as cumulative to the remedies for collection of soid indebtednee� provided by la�v. -
<br /> ;
<br /> � 4. The roceeda of an sale of eaid ro ert in accordance with the recedin ara a ha shall be a ]ied firet
<br /> P Y� P P Y � P S P 8r P PP
<br /> to pay the coeta and expenees of eaid aale, the expensea incnrred by the mortgagee for the purpoee of protecting or main-
<br /> , ; taining aaid property, and reaeonable attorneya' fees ; secondly, to pay d�e iudebtedneas secured hnreb;• ; and thirdly,
<br /> to pay nny surplus or exceee to the peraon or pernona legally eniitled thereto. '
<br /> � •
<br /> � S. In the event eaid property in eold at a judicial foreclosure eale or pursuant to the power of sale hereinabove
<br /> � granted, und the proceeds are not euJficient to pay the totaI indebiedness eecured by thie inatrument and evidenced by
<br /> said promieeory note, the mortgagee will be entitled to a deficiency judgment for the amount of the defeciency,without
<br /> regard to appsaiaement. '
<br /> 6. Ia the e�•ent the mortgagor Inila to pay any Federal, state, ur local tax asses�ment, income tux or udier tac
<br /> 1ien, charge, feq or other expenae chnrged againat die property the mortgugee is he�eby autliorized at T�iy ojition to
<br /> pay the eame. Any eums eo paid by t}�e mortoagee ahall be adled to and become a p�rt oC tl�e principal amount of tlic
<br /> ` indebtedaess evidenced by said note, aubject to the eame term9 nnd conditiona If the morigagor ehall pay and
<br /> ' ' diachlrge the indebtedne� evidenced by e•rid promisnory note, and shnll pay auch sume an8 shall diacharge all
<br /> taxen and liena und the coata, feea, and expeneee of making, enforcing, and executing this mortguge, then thie mortgage
<br /> rhall be cuncele<I and surrendered.
<br /> ; f
<br /> 7. The covenlnta herein toniained 'ehall bind and tl�e benefita nnd adruntaoea DIILII inure lo thr rrrprctire auc-
<br /> ceeaors and nssi6ms of the partiee hereto_ �V}�enever used, the ein��lar number ul��ll inclu�le the plural, tFie plural the
<br /> eira�tlar, and t}u use of uny gender eho]I include all gendere. �
<br /> 8. No wnivar oE any covenant hereia or uf tf�n obliti;� tiou ar.currd hrreby rh:Jl u1 any time t6rrra (li•r Le hel.l
<br /> to be se waiver of the terms l�ereof or of the note secured hereby.
<br /> 9. A judicial decree, order, or judgmeni Lolding uuy proviaion or purtiuu uf thix iu:trumrnt iuv:� li�l ur uucnr
<br /> ` forccable shull not ia any way irnpnir or prech�de the enforcement of the rem�ining �,ruvisi�n + or �rrirtlona of thi� �
<br /> � inaLrumnnt
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<br /> 10. Any written noLice to be ieeued to t r.�or�agor purnuant to the provie op� of thie in9trumeat ehal ! be ad-
<br /> drenaed to t}r. mortgaRorat a-o /S Ni, �. o a w e (// 6 ��.�,d ,+�'t/4a� /�/ebr.
<br /> ' and any writtea notice to be ieened ro the rnortgagee ehall
<br /> " be addrexsed to the mort�agee at
<br />�[' � ' . SBA FORM 920 (24J1
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