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86-- 105064
<br />/3. he mortgagor covenants and agrees that if fie shall fail to pay said indebtedness or atq part thereof when
<br />due, or shall fail to perform any covenant or agreement of this instrument or the promissory note secured hereby, the
<br />entire 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 ehtrc
<br />sell amid property without appraisement tthe mortgagor having waived and assigned to the mortgagee all rights of
<br />appfaisement) :
<br />i j) at judicial sale pursuant to the prow isions of 28 U.S.C. 2001 i a) ; or
<br />(11) at the option of the mortgagee, either by auction or by solicitation of sealed bids, for the highest and
<br />best bid complying with the terms of sale and manner of payment specified in the published notice of sale, fi:u
<br />giving four weeks' notice of the time, terms, and place of such saki by adveritormeat not less, than sauce
<br />daring 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 ohaH 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 authorised to execute for ant- on behalf of the mortgagor and to
<br />deliver to the purchaser at such sate a sufficient conveyance of *aid property, which conveyance shall contain
<br />recitals sa to the happening of the default upon which the execution of the power of sale herein granted
<br />depends; and the said mortgagor hereby constitutes 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 he effectual to bar all equity ee
<br />right of redemption, homestead, dower, and all oilier exemptions of the mortgagor, all of which are herehw_
<br />exptessiv waived and conveyed to the mortgagee; or
<br />(1111 take any other appropriate action pursuant to state or Federal statute either in .tote or Fe lee d
<br />court or otherwise for the disposition of the property.
<br />In the event of a sale as herembefore provided, the mortgagor or any persons in possession unrkr the »tort.
<br />?tagor 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 with an interest and are irrevocable b_v death of atherwive, anti
<br />are granted as cumulative to the remedies for collection of saitf iodelotedness provided by law.
<br />C The proceeds of any sale of said property in accordance with the preceding paragraphs shall he applied first
<br />to pay the costs and expenses of said sale, the expenses incurred by the mortgagee for the purpose of ptotectinger nastie
<br />raining said property, and reasonable attorneys' fees; secondly, to pay the indebtedness inured hereby; and thia•.fly,
<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 oak or pursuant to the power of yak hereinahove
<br />granted, and the proceeds are not sufFrcient 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 deficiency uithont
<br />regard to appraisement.
<br />6. In the event the mortgagor fails to pay any Federal. state, or local tax Bey._-_. -t, in.1"ne tax or other tees
<br />lien, charge, fee, or other expense charged against ilia property the mortgagee is hereby authorized at his option to
<br />pay the one. Any aunts so paid by the mortgagee shall be added to and become a part of the principal amount of the
<br />indebtedness evidenced by said note, subject to the same terms and conditions. If the mortgagor shall pay and
<br />discharge the indebtedness evidenced by said promissory note, and shall pay such sums and shall discharge old
<br />taw and liens and the casts, fees, and expenses of making, enforcing, and executing thin mortgage, then this mortgage
<br />-hall be canceled and surrendered.
<br />7. The covenants herein contained shall bind and the bettefits and advantages shall more to :hr- retitecti,e ..t,-
<br />eemors 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 at any time there.fter be 11.1.1 .
<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 portion of this instrument intaltd of onvu-
<br />forceable shall not in any way impair or preclude the enforcement of the remaining t,rovisions or portions of this
<br />instrument.
<br />1e. Any written notice to be issued to the mortgagor pursuant to the provhicas of this instrument shall he ad-
<br />droned to th. mortgagor at
<br />and any written notice to be issued to the mortgagee shall
<br />be addressed to the mortgagee •t
<br />$a. try.. YY• _i l"
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