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<br />3. The mortgagor covenants 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 instrument or the promissory note secured hereby, the
<br />entire indebtedness hereby eceured shalt immtdiately become due, payable, and collectible without notice, at the
<br />option of the mortgagee or assigns, regardless of maturity-, and the mortgagee or hix assigns may before or after entry
<br />sell said property without appraixement lthe mortgagor having waived and assigned to the mortgagee all rights of
<br />appraisemeaf 1 ;
<br />! t) at judicial sale pursuant to the provisions of 28 L1.5.C. 2001 f a j ; or
<br />(et) at the option of the mortgagee, either by auction or by solicitation of sealed bide; for the highest and
<br />b~ bid complying with the terms of sale and meaner of payment specified is the published notice of Bale, fiat
<br />giving four weeks' notice of the time, terms, and place of such sate, by advertisement not Ieea than anet
<br />during each of acid four weeks in a newspaper publishe+l 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 say penoa on
<br />behalf of said mortgagee, may bid with the unpaid indebtedness evidenced by said note). Snid axle shall be
<br />htld at ar on the property to be sold or at she Federal, county, or city rnurlhottx for the county in which the
<br />property ie located. The marigagee is hereby a::tharized ec ezxcute for and on behalf of the mortgagor and to
<br />deliver w the purchaser at sash sale a sufficient conveyance of said property, which conveyance shalt rnntain
<br />rettitab as to the happening of the default upon which the execution of the power of oak herein granted
<br />depends; and the said mortgagor hereby eonatitutee and appbinta the mortgagee or any agent or aitomey of the
<br />mortgagee, the agent and attorney in fact of said mortgagor to make such recitals and to ezceute said
<br />canvepaace and hereby eovtaanU and egress 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 />foci take any other appropriate action pursuant to state or Federal statute either in state or Federal
<br />court or otherwise for the disposition of the property-
<br />In the event of a sale as hereinabove provided, the mortgagor or anv person in possession under the mortgagor shall
<br />thin become and be tenants holding over and shall forthwith deliver possession to the purchaser at such sale or be
<br />summarily diapossesaed, in acrordaore with the ltroviaions of law applicable to tenants holding over. The power
<br />and agency hereby granted are coupled with an interest and err irrevocable by death or otherwise, and arc granted
<br />as cumulative to the remedies far collection of said indebtedne~a provided by law.
<br />4. The protxeds of any axle of said property in accordance with the preceding paragraphs shall bt applied first
<br />to pay the cosU and expenses of said ale, the expenses incurred by the mortgagee for the purpose oI protecting or main-
<br />taining s , i property. and rraaonablr attorneyx' frrx; .econdly, to pay the indebtedness secured hereby; and thirdly,
<br />to pay any surplus or excess to the person or perxorta legally entitled thereto.
<br />4. to the event said property is sold at a judicial fartcloeure sale or pursuan! to the. power of sale hereinabove
<br />grated, end the procetde are not sufficient to pav the total indebtcdneae secured by this instrument and evidenced by
<br />said promissory sate, the mortgagee will be entitled to x deficiency judgment for the amount of the deficiency taithostt
<br />regarJ to aFpraisemeeu.
<br />tr. In the event the mortgagor fails to pav anv Federal. Mate, ur local tax asaesamrni, eecome tax or other tax lien,
<br />charge, ter, or other rcurnar charged a~~ntt the property, the martcagee is hereby authorized ai his option to pay
<br />the aame..4ny sums so paid by the mortgagee shall 6e added to and heeome a pan at the principal amount of the
<br />indebtedness wvideuced by said Harr, subject to the game terms and rouditions. tf the mortgagor shall pay and
<br />discharge the indebtedness evidenced Icy .aid promtssarv note, and shall pat such sums and shall discharge all Lases
<br />and liens and the coats, fees, and rcpenaes of conking, rnturring, and executing this mortgage, then this mortgage
<br />shall be csneekd and surrendered.
<br />'.. Tht covenants herein contained shall bind and the benefits and advantages shall inure to the respective sus
<br />cessats sad assigns of the partid hereto. Wheoever used, the siaqul:r number shall includt the plnnl, the plural the
<br />amEtt~• ~ ~ me of say gender shall ineiade ail genders.
<br />8. Ara w:lute of any covenant htrcin or of the obligation secured hereby shall at any time thereafter be htld
<br />to be a waiver of the ttrau her+twf or of the note secured hereby.
<br />9. Ia conepliatsee with section 101.1 f d) of the Rules and Requlauons of the small Business Administration ,13
<br />fNF.R. l0i.iidl j, the inetrttment is to 6r construed and raforced in accordance with applicable Federal law.
<br />10. A judicial decree, order, ar judgraeat holding am proyisian ar portion of this irtatrnment invalid ur un•
<br />eaforeeaable shall not is say way impair or preeludr the rnforremrnt of the remaining provisions or portiom of
<br />this iarsrtuttnt,
<br />as. r..., nr «--as, .. r
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