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<br />3. Tile mortgagor covenitnts and agrees that if he shall fail to pay said indebtedness or any part, thereof when
<br />due, or shall fail to perform any covenant or agreement of this`instrumeni or the promissory note secured: hereby, the '
<br />entire indebtedness liereby secured shall immediately become -due, payable, -and 'col]eetible without 'notice, 'at the "
<br />option of the mortgagee or assigns, regardless. of maturity, 'and the mortgagee or his assigns may before,oi after entri•
<br />sell property without ajipraisement (the morta�iitdlraving waivdilhgtli5 iii ped to the mortgagee all rights of
<br />appraisement): John D. Folsom and Sallie S. 'F61Soin ;
<br />t
<br />The Ove ra'ln L1.5. ti p'a :B an k•
<br />(t at judicial sale • ursuant to the provisions o 8 e l ( a ;or
<br />(u) at the option of the mortgagee, either by:auctMU fJy JA*3i?A' idr)'oNAkllt'd1lSiii4for the highest and
<br />best bid complying with the terms of sale and manner of payment'specified in the published notice"of sale, first
<br />giving four weeks' notice of the time, terms, and place of such 'sa'le, be adverti.enient not• leis than once
<br />during each of said four weeks in a newspaper published or distributed in the county in which `said property
<br />is situated, all other notice being hereby waived by the mortgagors (and; said mortgagee, or any, person on
<br />bel Ifhof sus mortgasee, may bid with the unpaid indebtedness. � RIMced byl:said note). Said, sale shall be
<br />he] of or oniRe property to be sold 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 behalf of the mortgagor and to
<br />1 fuer to t e urc} `ser at such sale •a sufficient conv yap a of saiTd property, w}riclr conveyance shall contain
<br />A t�'it. ta0 o t o d, COAI�r o�J11Qefs ltp ��4&Yth�e Uver(Alle irIt tea
<br />t0 � de'H e s o rt r s1tibn � rli eoreff e�c� ti r� aR `�P iA , eli� a Pop ziy a cln�f Pr o eybflthe .
<br />mortgagee,, tale agent and a orney rrry f �t o ea � of t a�g�� Yd. ':n�a%�'r&�Jk' eitals and :t'o' execute said
<br />conveyance and herepy covenants and agrees -thai the recitals so made shall b'e effectual to bar. all equity or
<br />right of redemption,.thoniestead, dower, and all other exemptions of the:ntortt ;icor, all of which are hereby
<br />expressly waived and•conveyed to the mortgagee; :or
<br />(ut) take any other appropriate action pursuant to state or ]?ederal stat►te either in state ur Federal
<br />court or otherwise for the disposition of the property.
<br />In.the-event of a sale as hereinbefore; provided, the mortgagor or any 1 persons in possession under the mort
<br />gagor shall -then become and be tenants holding over and sliall forthwith ;deliver possession to the jiitrchaser at
<br />such_ sale or i r'summarily dispossessed, in accordance with the provisions. of law applicable to tenants holiling over.
<br />The power and agency hereby granted are coupled with an interest and are irrevocable by death or olherwire, and
<br />are.grantcd'ds cumulative to'the remedies for collection of said indebtedness provided' y law.
<br />4. The proceeds of any sale of said property in accordance with the' preceding paragraphs shall be'applied first
<br />to pay the.costs and expenses of said sale, the expenses incurred by.the m4rtga'gee for the purpose protecting or main-
<br />taining said property, and reasonable attorneys' fees; secondly, to pay the itiSlebtedness secured hereby and thirdly,:
<br />to pay any surplus or excess to the person or persons legally entitled thereto:'
<br />S. In the event:said property is sold at a.judicial foreclosure sale or pursuant to the power of sale hereinabove
<br />granted, and the proceeds are not sufficient to pay the total indebtedness secured by this instrument. and evidenced by
<br />said promissory note, the mortgagee will be entitled to:a deficiency judgment for the amount of. the defrciencywithout
<br />regard to appraisement.
<br />G. In the event the mortgagor fails to pay•arry Federal; state, or local tax assessment, income t, x, or' other taa
<br />lien' -charge' fee, or other expense charged against the property the mortgagee is hereby authorized at his option to
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<br />pay the same. Any sums so paid by the mortgagee shall be added to and become apart of the principal amount of the.
<br />indebtedness evidenced by said note, subject to the same terms and conditions. If tIre mortgagor shall pay and'
<br />discharge" tire,- indebtedness -evidenced by said promissory note, and shall day such' sums and shall :discharge all,
<br />taxes and liens and the costs,, fees, and expense's of making, enforcing, and executing this mortgage, then this mortgage
<br />shall be canceled and surrendered.
<br />7. The covenants herein contained shall bind and the -benefits and adv;ititages shall inure to the respective stic
<br />cessors and assigns of the parties hereto. Whenever used,_the singular number shall include the plural, the plural the
<br />singular, and the use of any, gender shall include all genders.
<br />8. No waiver of any covenant herein or of the obligation secured hereby shall .tt luny time thereafter be held
<br />to be a waiver of the terms.hereof or of the note secured hereby.
<br />9. A judicial decree, order, or judgment holding any provision or pisrEiou of this inslrunrent invalid or uneu-
<br />forceable shall not in any way impair or preclude the enforcement of the- reniainint" provisions -or portions of this
<br />-instrument..
<br />10 Any written'notice to be issued t' the mortgagor pursuant, to the provisions of this instrument ;shall be ad-
<br />dressed to tbP mortgagor at
<br />and any written notice to be issued to the mortgagee shall
<br />be addr d toaheinortgagee at
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<br />SBA• FORM 928.(2-73) -?�(• L - ..
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