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S. The mortgagor covenants and agrees that if he shall fail to pay said indebtedness or any part thereof when
<br />due, or Mall fail to perform any covenant or agreement of this instrument or the promissory note secured hereby, the
<br />malve indebtedness hereby secured shall immediately become due, payable, and collectible without notice, at the
<br />option of the mortgagee or assigns, regardless of maturity, and the mortgagee or his assigns may before or after entry
<br />"N said property without appraisement Ithe mortgagor having waived and assigned to the mortgagee all rights of
<br />appraisesn"t)
<br />( t) at judicial sale pursuant to the provisioni of 28 U.S.C. 2001 1 a) ; or
<br />(it) at the option of the mortgagee, either by auction or by solicitation of sealed bids, for the highest and
<br />best lid complying with the terms of ale and manner of payment specified in the published notice of ale, first
<br />giving four weeks notice of the time, terms, and place of such sale, by advertisement not less 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 mortgagor (and said mortgagee, or any person on
<br />behalf of said mortgagee, may bid with the unpaid indebtedness evidenced by said note). Said sale shall be
<br />beta 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 authorised to execute for and on behalf of the mortgagor and to
<br />deliver to the purchaser at such ale a sufficient conveyance of said property, which conveyance shall contain
<br />recitals as to the happening of the default upon which the execution of the power of ale herein granted
<br />depands; and the said mortgagor hereby constitute* and appoints the mortgagee or any agent or attorney of the
<br />mortgagee, the agent 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 />right of redemption, homestead, dower, and all other exemptions of the mortgagor, all of which are hereby
<br />expressly waived and conveyed to the mortgagee; or
<br />(tit) take any other appropriate action pursuant to stale or Federal statute either in slate or federal
<br />court or otherwise for the disposition of the property.
<br />In the event of a ale as hereinbefore 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 ale 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 with an interest anti are irrevocable by death or otherwise, and
<br />are granted as cumulative to the remedies for collection of said indebtedness provided by law.
<br />♦. The proceeds of any ale of said property in accordance with the preceding paragraphs shall be applied first
<br />to pay the oasts and expenses of said ale, the exposes incurred by the mortgagee for the purpose of protecting or main-
<br />taining said property, and reasonable attorneys fees; secondly, to pay the indebtedness secured hereby; and thirdly,
<br />to pay my starplas or excess to the person or persons legally entitled thereto.
<br />S. Is the event said property is sold at a judicial foreclosure ale 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 />aid prossimary nots, the mortgagee wih.1 be entitled to a deficiency judgment for the amount of the deficiency Without
<br />regard to .
<br />i
<br />6. In the event the mortgagor fails to pay any Federal, state, or local tax assessment, income tax or other tax
<br />charge, fee, or other expense charged against die property the mortgagee is hereby authorized at his option to
<br />pay the ame. Any sum so paid by the mortgagee shall be added to and become a part of the principal amount of the
<br />ioWlebtednam evidenced by said note, subject to the same terms and conditions. If the mortgagor shall pay and
<br />dkellsorge the indebtedness evidenced by said promissory note. and shall pay such sums and shall discharge all
<br />tames and liana and the costa, fen, and expanses of making, enforcing, and executing this mortgage, them this mortgage
<br />she)11 be sad
<br />7. The covenants herein contained shall bind and the benefits and advantages shall inure to the respective ouc-
<br />musss ad assipm of the party hereto. Whomever wad, the singular number shall include the plural, the plural the
<br />sings1w, sad the use of say game shall fuel%& all ganders.
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