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<br />3. Tlic.mortga-or covenants and agrees that if lie shall fail to pay said indebtedness or any paie thereof when'
<br />0
<br />due', or shall fail to perform any covenant or agreement of,.this instrument'br the promissory note sectirp(I'liereby, the
<br />entire indebtedness hereby secured shall immediately become due, p.ayable, and collectible withotiiiii6fice, at the
<br />option of the mortgagee or assigns, regardless of maturity, and. the mortga *6e or his assigns may before or after entry
<br />9
<br />sell said property witifout appraisenient (the mortgagor, having waived and assigned to the niortgag6e -.111 rights of
<br />appraisement)
<br />(i) at judicial sale -pursuant to the provisions o*f 28 U.S.C. 2001 (a) or
<br />(ii) at the option of the mortgagee, either by auction or by solicitation of sealed bids, fort'h'e highest and
<br />best bid complying with the terms of sale and manner of payment specified in the published n6fice.of sale, first
<br />giving. four weeks' notice of the time, ternis, and place of such sale, bv advertisement not!less Ilia
<br />0 11 Once
<br />during each of said four weeks in a newspaper published or distributed in the county in which',8aid property
<br />is situated, all: otlier:notice being hereby waived by the mortgagor (and said mortgagee, or, any person on
<br />f behalf of said mortgagee, may bid with the unpaid indebtedness evidenced by said note). Said sale shall be'
<br />held at or on the 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 />deliver to the purchaser at such sale a 'sufficient conveyance of said property, which conveyanbe shall contain
<br />recitals as to the happening of the default upon which the execution of the power of sale'�hercin granted
<br />depends; and the said mortgagor hereby constitutes and appoints the mortgageeor any agent or attorney of the
<br />mortgagee, the agen't and attorney in fact of said mortgagor to 'make such recitals and to execute said
<br />conveyance and hereby covenants and agrees that the recitals so made shall be effectual to bar all equity or
<br />rigk of redemption, homestead, (lower, and all other exemption' of the mortgagor, all of wh'ich are herchy'
<br />s
<br />expressly waived and conve�ed to the mortgagee; or
<br />(m) take any other appropriate action pursuant to state. or Federal statute either in siate or �'ederal
<br />court or otherwise for the disposition of the property.
<br />In the event of a sale as licreinbefore provided, the mortgagor or any persons.in possession under the mort-
<br />gagor shall then become and be tenants holding over and shall forthwith deliver possession'to the purchaser at
<br />such sale or be'summarily dispossessed, in accordance with the provisions of law applicable to tenants holding over.
<br />The power and agency hereby granted are coupled wiih an interest and are irrevocable by death or,otlicrivise, and
<br />are granted as cumulative to the remedies for collection of said indebtedness provided by 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 mortgagee forthe purpose of pr�tecting or main.
<br />taining said property, and reasonable attorneys' fees; secondly, to pay the indebtedness secured liereb;y; and tliirdly�,
<br />to pay any surplus or excess to the person or persons legally entitled thereto.
<br />5. In the event said property is sold at a judicial foreclosure sale or pursuant to the power of sale liereinabove
<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,%vill be entitled'to a deficiency judgment for the amount of the de' c
<br />fl'iency.without
<br />regard to appratsement.
<br />6. In the event the mortgagor fails to''pay any Federal, state, or: local tax assessment, income Uix' or. other tax
<br />lieh, charge,Jec, or other expense charged against the property the�jnortga ee is'licreby authorized at his �ontion to
<br />pay the same. Any sums so paid by the mortgagee shall be added to and become a part bf the principal- amount of the -
<br />indebtedness ev'idenced by'said'ii6te, iubjeeCto the same term's and'con'ditions. If the � mortgagor : sh . all pay and
<br />discharge the, indebtedness- evide��:ed by-Baid promissory note, and shall pay such �8ums and shall discharge all
<br />c and
<br />taxes and liens 'and the costs, fe s, expepses o making', enforcing, and executing this mortgage, then this mortgage
<br />!-hall be canceled and surreildered.
<br />7.— T : he.covenants herein contained shall bind and the benefits and advantages sli4ll inure to the! respective stic-
<br />ial
<br />ccssors and.issAgns�of the parties hereto. Whenever.used, the singular number shall include the"plural,'the plu the
<br />singular,'an& the use of any gender shall include all genders.
<br />a
<br />8. No -waiver of any-covenani her6iii'.or- of the obligation secured hereby shall at any time tliereaft�r be held
<br />to be. awaiver of the terms hereof or of the note secured hereby.
<br />9. A judicial decree, order, or judgment holding any provision or portion of thi I s instrument inva.lid or unen-
<br />forceable shall not in.'any way impair or preclude the enforc-6ni6ni(of the provisions - or 1) . o . rtfofis' -O'f this
<br />instrument.
<br />"""'i'lo. Any,written noti , ce'to,be, ifisued'.'io.,the mortgagor. pursuant to,:the provisions of this in8tru ent shall be ad.
<br />'in
<br />dresie'd t *0 the. Tfiortgaigor at,
<br />and any written notice to be issued to thelmortgagee ishall
<br />�e'addressedu-the 'mortgagee at
<br />SSA,FORM 928 (2-73)
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