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<br />83-(Jl '1 .,'; ,"
<br />v (:;,c ~,'
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<br />3. The mortgagor covenant. and agreeo that if he .hall fail to pay .aid indebtedne.. or any part thereof when
<br />due, or mall fail to perform any covenant or agreement of thia in.Lrument or the promil!8Ory note oecured hereby. the
<br />~tire indebtedneoo hereby """ured .hall immediately beeome due, payable, and collectible without notice. at the
<br />optiOll. of the mortgagee or alligne. regardl_ of maturity, and the mortgagee or hi. allign. may hefore or after entry
<br />ae11 .aid property without appraioement (the mortgagor having waived and a..ip;ned to Ihe mortgap;ee all right. of
<br />appraioement) :
<br />
<br />(t) at judicial .ale pursuant to the provision. of 28 U,S,c. 200I(a); or
<br />
<br />(n) at the option of the mortgagee, either by au~ion or by .olicitation of oealed bicb;for the higbeat and
<br />beet bid complying with the tenn. of ..Ie and maDDer of payment .pecified in the published notice of ..Ie, fint
<br />giving four weeko' notice of Ihe lime, lerm., and place of such sale, by adverlioement not leoo than once
<br />during each of .aid four week. in a neWlpaper published or dislributed in the county in which said property
<br />ia lituated, all other notice being hereby waived by the mortgagor (and .aid mortgagee, or any penon OIl
<br />behaH of .aid mortgagee, may bid with the unpaid indebtedn""" evidenced by IBid note). Said we .ball be
<br />held at or on the property 10 be oold or at the Federal, county. or city courthouoe for the county in which the
<br />property io l""ated. The mortgagee ia hereby authorized to execute for and on behalf of the mortgagor and to
<br />deliver to the purchaoe, at .uch sale a .nllicient conveyance of .aid property, which conveyance .hall contain
<br />recitala .. to the happening of the default upon which Ihe execntion of the power of sale herein granted
<br />depends; and the IBid mortgagor hereby con.tilutea and apphinlllhe mortgagee or any agent or attorney of the
<br />mortgagee, the agent and attorney in fact of .aid mortgagor 10 make .uch recital. and to execute IBid
<br />conveyance and hereby covenanll and agreea Ihat the recitalo 10 made .hall be ellectual to bar all equity or
<br />rip;ht of redemption, homeatead. dower. and all other exemptions of the mortgagor. all of which are hereby
<br />expreoaly waived and conveyed to the mortgagee: or
<br />
<br />(Itt) take any other appropriate action pursuanl to _tate or Federal statute either in .tate or Federal
<br />court or otherwioe fo, the di.pottition of the property,
<br />
<br />In the ..vent of a sale ao hereinahove provided, ihe mortgap;or or an}' perron in po...,..ion under the mortgagor .hall
<br />then be"ome and be tenanll holdinp; over and shall forthwith deliver p_ion 10 the purchaoer at .uch ..Ie or be
<br />.ummarily di.r-ooed. in accordance with the provisions of law applicable to lenanls holdinp; over, The power
<br />and agency herehy, granted are coupled with an internt and are irre,'ocable by d..alh or otherwioe. and are p;ranted
<br />ao cumulative ,to the reuiediea for colleclion of .aid indebledn..... providw by law,
<br />
<br />06. The ptoceed. of any ..Ie of ..id property in accordance with the preceding parappha &hall be applied fint
<br />to pay the ......"...d ~...f ..id..1e, the exp"...... incurred by the mortgagee for the purpooe of protecting or main.
<br />taining ..id property, and realOnable attorneys' f.....; seeondly. 10 pay the indeblwn""" oecur..d hereby; and thi,dly,
<br />10 pay any .urplu. or ..xceao 10 the penon or penons lep;ally ..ntitled thereto.
<br />
<br />5. In the evCltt Uidproperty ia oold at a judicial foreeloeure ..Ie or punuant to the power of ..Ie hereinabove
<br />granted, and the proceed. are not .ul&eient to pay the total indebtedn_ """ured by thia inatrument and evidenced b,.
<br />oaid ~ry note, the mortgagee will be entitled to " defici"DeY judgment for the amowtt of the de/i<:ietacy wiIltout
<br />reprdlO~.
<br />
<br />6, In the event the mortp;al\or fails 10 pay any F...teral. .Iale. or loc.llax a......m~nt. income lax or olher lax lien,
<br />charge. fee, or other expe"'" cbarp;ed ap;aiD1lllhe properly, Ihe morlp;ap;ee i. hereby aulhori.",' al hi. oplion Lo pay
<br />the oame. Any swna 00 paid by the mortgagee .hall be added 10 and become a part of Ibe principal amount of the
<br />indehtedn_ evidenced hy' said nOle, subject 10 Ihe .am~ term. and .'ondilion.. If the mortgal\Or .hall pay and
<br />diaeharge the indebtedD""" e,'idenced by said promi8lOry note. and .ball pay such .ums and .hall discharKe all tax...
<br />and Ii,,"" aDd lhe COIIo, feca, and ~xpe"""" of makinp;, enforcinl\, and .."""utinl\ Ihi. morlp;age, Ihen Ihis mortgage
<br />&hall be eaneeled and surrendered,
<br />
<br />7. The covenanb hereio contained .ball bind and the beoefita and advantag... .ball inure 10 the ....pective one-
<br />-- and ...... of the partiee hento. Whenever uaed. the oin8Ular number ohall inelude the plural, the plural the
<br />......... aad the ... of ...y parler &hall include aU paden.
<br />
<br />8. No waiver of auy CO_I herein or of the obligation oecured hereby &hall al any tiDle lhereafter be beld
<br />to be a waiver of the _ hereof or of the note aeeured hereby.
<br />
<br />9. la _,liaDce 'With Mdi_ 101.1 (d) of the Rule. and R.....lationa of tbe Small Bua- Adminiatration [13
<br />c.F,R. 101.1(d) J. thia illllltnuDeat i. to be -...cd and el1foreed in aceordanee with applicable Federal law,
<br />
<br />18. A judicial ~ order, or j~t ho~ any proviaioG or poriion of Ihis iDltcutnent invalid or .....
<br />~ _II DOl ia any -y impair or p,-Jude lhe ....force_DI of Ihe remainin. provisiOlll or portiona of
<br />t_ --.. ....
<br />
<br />.. ,__ '1m .,a-',.,
<br />
<br />...r~o \l!....1.
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