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L , ' k MMd 89--- 101442 3. The mortgagor covenants and agrees that if he shall fail to pay &aid indebtedness or any part thereof when doe. or shall fail to perform any covenant or agreement of this instrument or the promissory note secured hereby, the emire indebtedness hereby secured *hall immediately become due. payable. and collectible without nines, at . the option of the mortgagee or assigns, regardless of maturity. and the mortgagee or his assigns may before or after entry sell said property without apprsisemei,� (the mortgagor having waived and assigned to the mortgagee all rights of appraisement) : (t) at judicial sale pursuant to the provisions of $$ U.S.0 2001(a); or (ti) at the option of the mortgagee, either by auction or by sahmatattioa of, sealed bids3or the higbat aak, but bid eompiying whit the terms of ale and ntattner of payment specified imfhepulilished notice of silt filar giving four weeks• notice of t1$#--:'t terms. and pWit bf such sale. by *4i- ..:isement not less thxk� CA' Mce during each of said four weeksita. 0*jpaper pubiistied or distributed in this -4 uMk in which said pi -*rty is situated, all other notice being hereby;+ i&cd by the mortgagor (and said mortgagee, or any pertoa an `:hehai[ bf said mortgagee, may bid with the. napaid indebtedness evidenced by acid note). Said sale shall be (ier�d'ait or on the property to be sold or at the Federal, county. or city courth6mab,for the county in which the ,. ropeity is located. Tice mortgagee is hereby authorized to execute for and oti bthalf of the mortgagor and to deliver to the purchaser at such sale a sufficient conveyance of said property,'ii'tieh conveyance shall contain recitals as to the happening of the default upon which the exeM'th*L of the pow e,• of ask herein granted depends; and the sand tnortgager hereby constitutes and appoints tlicvwi %Pgft or aqv agent or attorney of the mortgagee. the agent and atwmey in fact of said mortgagor to m utirJi.:rec itale and to execute said conveyance and hereby covenants and agrees. that the recitals so ma<de'diA hie effectual to bar all equity or right of redemption. homestead. dower, and all other exemption) of Ole n '&4agor, all of which are hereby expressly waived and conveyed to the mortgagee; or ( fy .take any other appropriate action pursuant to state or Federal Lumte either in state or Falderal ,6auct ar atherwise for the disposition of the property. In Elise +rreixt of a $gs as1rei+a?bQve pROVidad, the mortgagor or any person in possession under the mortgagor shall then become and be tM?aiaorngidiag,over and shall forthwith deliver possession to the purchaser at such sale or be summarily disgosses zs y iii;i Zd c4ae °itrit& the provisions of law applicable to tenants holdiaN over. The. power and agency hemby granted are coupled with an interest and are irrevocable by deid.t at otherwise. and are granted as cumulative to the remedies for collection of said indebtedness provided by law. 4. The pc fit dF 14:1 is¢te~ at "� . property in accordance with the preceding paragraphs abidl be applied drat to Pay' the' corm 6d e'spenseie c said saw the expenses incurred by the mortgagee for thelsa�rpose of proteetingormaia� tainina said• property. arid'- maaonable attorneys fees; secondly, to pay the indebtedn ess red her by: and thirdly. to� qi� any surplus or e`x a to the person or persons legally entitled therieto. . In the event said property is sort al a judicial foreclosure sale or pursuant to the power of sale henixAove gra.mita. and the proceeds are not sufBcitnt to pay the total indebtedness secured by this instrun tent and evidenced by i �ri+smiasory note, the martgagee will be artiticd to • deficiency judgment for the amourdttgt6ealelEciencyrwithow reprd to sppaawmens. 6. In the event the mortgagor fai7a io pay any Federal, state. or local tax assessment. income can c:r.• cf£ver tax lien, clurp:. fee. or other expetroe- charged against the property, the mortgagee is hereby authorised ac fins epdion to pay 0e same. Any sums so pair$ >9y the motgagee shall be added to and become a part of the principal amouma of the indebtedness evidenced by said nave;. rxsbjeet to the same terms and conditions. If the mortgagor shall pay and discharge the indebtedness evil e ced 4 said promissory note, avid shall pay such sufts and sha!I discharge all taxes "d.liens and the costs, fea, rand expenses of making, enforcing, and executing this'mortpjw.,, then this mortgage sksli be canceled and surrendered. 7. The covenants herein contained shall bind and the benefits and:;tdvantoges stall inure to the respective sue. Cason and anigas of the parties hereto Whenever used. the singular number shall include the pl�_.ra ttce plural the siungtrlar, AM the use of any gender shall include all gcuden $ 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 terms hereof or of the note secured hereby. 9. In compliance with section 101.1(d) of the Rules and Regulations of the Small Business Administration 113. C-F•1L 141.1(d)1.1hL- mat is to Le eoastraed and enforced in accordance with applicable Federal law. 10. A judicial decree, order, or judgment holding any provision or portion of this instrument invalid or uw enfasee" @tall not in any way impair or preclude the enforcement of the remaining provisions or portions of dris instrument. MA r-w far 19-ram Gv0 ^ r l-. •� i f t�