89100032 - Laserfiche WebLink

Browse

1 100432 ;.d. The mortgagor covenants &ad agrees that if he shall fail to pay said indebtedness or any part thrrret when lira, or -thull fail to perform any covenant or aghvement of this instrument or the promissory note areutri hertby. the eMi re-_indebtednesa hereby secured shall immediately become due, payable. and collectible withow Mli", at the option' of -the mortgagee or assigns. regardless of maturity, and the mortgagee or his anigns may before or atttr entry salt -said' property without appraisement (the mortgagor having waived and assigned to the mortgsgee. all rights of aq+leraisemrnt) : it) at judicial sale pursuant to the provisions of 28 U.S.0 2001(a) ; or (it) at the option of the mortgagee. either by auction or by solicitation of seakd bids,'fou the mom ant toot bid eoaaplying with the totem of sale attd manner of payment specified is the published aattre sd 04% fitat giving four weeks' notice of the time. terms, and place of such sale, by advertisement not less tleas aster during each of said four weeks in a newspaper published or distributed in the county its which crust property is situated. all other notice being hereby waived by the mortgagor (and said mortgagee. at any peAsoa an beh V of said mortgagee, may bid with the unpaid indebtedness evidenced by said note). Said safe shall be held at or on the property to be sold or at the Federal, county. or city courthouse for the county in .which the property is located. The mortgagee is hereby authorised to execute for and on behalf of the mortgsgor and to deliver to tale patsthaser at such sale a suffiicient conveyance of said property. which conveyance: shall conudis red" as to -the happening of the default upon which the execution of the power of sate bests printed depeth; and the osid mortgagor hereby constitutes and appbints the mortgagee or any agwt or anomy of the mortgagee, the apnt and attorney in fact of said mortgagor to make such recitals and to exmuse staid conveyance and hereby covenants and agrees that the recitals so made shall be effectual to bar all equity or right of redemption, homestead, dower, and all other exemptions of the mortgagor. all of which are hereby expressly waived- and conveyed to the mortgagee; or (m) talte any other appropriate action pursuant to state or Federal statute either in state or Federal court or othenvi►se.for the disposition of the property. In the event of as hereinabmre provided. the mortgagor or any person in possession under the nnoargagor shall 0251MM then become an a f1fid shall forthwith deliver possession to the purchaser at such sale or he summarily di, � tsith the provisions of law applicable to tenants holding over. The power m—A • ��.i Y-AL."'� � Qw.�r.o•��.r... pis :iaa.�a.�a S. :vS�c i.avivCiwc.s} vcwtt +vi vili�i�+i�i.�iir.�],?�avjSa�uaw as cumulative to the tiesttedice for eoilection of said indebtedness provided by law. d. The proceedo of any ask at said property in accordance with the preceding paragrapbs shall be applied first to pay the costs and expeinew of said sale, the expeneeo incurred by the mortgagee for the purpose of protecting or main- taining said property. am& reasonable attom.eye fees; secondly. to pay the indebtedness secured hereby; and thirdly. to pay any wrplua or excess to the ptram or persons legally entitled thereto: . S. Is the event -said property is sold at a Wicial foreclosure ale or pursuant to the power of sale hereinabwe granted, and the proeft& ace not satilicieint to pay the total indebtedness secured by this instrument and evidenced by said promissory note, the mortgagee will be entitled to ,% deficiency judgment for the amount of the deficiency wi haW "Awd to opproiaensekt. 6. in the event the mortgagor fails to pay any Federal, state, or local tax assessment. income tax or other tax lien, charge. fee. or other expense charged against the property, the mortgagee is hereby authorised at his option to pay the same. Any sums so paid by the mortgagee shall be added to and become a part of the principal amount of the indebtedness evidenced by said note, subject to the.same terms and conditions. If the mortgagor shall pay and discharge the indebtedness evidenced by said promissory note, and shall pay such sums and shall discharge all taxes and liens and the costs. fees. and expenses of making, enforcing, and executing this mortgage, then this mortgage shall be canceled and surrendered: 7. The covenants herein contained. sball bind and -the bentiftts and advantages shall inure to the respective sue. Casson &rest ass4m of the parties hereto. Vhewver wed, the singular number shall include the plura% the plural the dWIW, and the we of ray gender shall i■clade all Ssiaers. . 8. No waiver of any covenant herein or of the obligation secured hereby shall at any time thereafter be held to be a waiver of the terns hereof or of the rune seeureil hereby. 9. to compliance with section 101.1(d) of the Rules Gad. Regulations of the Small Business Administration (13 C.F.R. 101.1(4) ), this instrument is to be construed and enforced in accordance with applicable Federal law. L 10. A judicial decree, order, or judgment holdiY4 any provision or portion of this instrument invalid or un- enforceable shall not in any way impair or preclude s°aa enforcement of the remaining provisions or portions of this isatruaseat. r~' n %#A •.s •1t ts-tol � J _�a i 1° i