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<br />t.,
<br />3: The mortgagor covenants and agrees thatif he shall fail to pay said indebtedness or'any part thereof when
<br />dne, or shall fail io perform any covenant or agreement of this instrument or ttie promissory note xecured hereby, the
<br />{ entiro indebtedness hercb} secured shall immediately become due, payable, and rallectible without notice, at ,the
<br />1 option of the mortgagee or assigns, regardless of maturi[y, and the mort~a~ee or his assigns may beforebr after entry
<br />sell said property without appraisement (the mortgagor having waived and assigned to the mortgagee all rights of
<br />appraiserrtent)
<br />(tl at judicial sale pursuant [o the provisions of 28 U.S;(;. 2001 (a) : or
<br />(n) `at the'option of the mortgagee, either by auction or by solicitation of sealed bide; forthe higbebt and
<br />brat biii complying with the tettns of ealcand manner of paymenYapecified in the published notice of sale, 6twt
<br />giving four weeks notice of tho time, terms; and- place of such sale, by advertisement rani 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, alt other notice being hereby waived by the mortgagor (and said mortgagee, or any person= on
<br />behalf oi,said mortgagee, mar b;_d-withrtht nopaid indebtedness:evidenced by said note). Said `sale shall be
<br />hehf.ator on the property to bt sold or at the Federal, county, or city courthouse far the county in which the
<br />property u locattd. The'.mortgaget is hereby authorized to execute for and on behalf of the mortgagor and to
<br />deliver to the purchaserat such sale' a sul6cient conveyance of said property, which conveyance shall contain
<br />recitals as to the happening of the default upon which. tht ezecution`of the power: o: sale herein°6raoted
<br />depends; and the said mortgags. F.ereby constitutes and appoints the mortgageeor any agent'or attorney of the
<br />mortgagee, the agent and attorney in Eacc of said mortgagor to makt such recitals and to ezecute'said`
<br />conveyance sad hereby covenants and agrees that tht,recitaU so-made shall beeHectual to bar all equity or '
<br />right of redemption, homestead, dower, and all otherexemptions of the mortgagor, all of which are hereby
<br />expressly waived aed conveyed to the mortgagee; or
<br />(tn) take any other appropriate action:purauant o state or Federal statute either in state or Federal
<br />court'or othenriae for the diepositioa of the property.
<br />In the eventoE a sale as hereinabovc provided, the mortgagor. or any person in possession under the mongagorahall
<br />then becomerand be tenants holding over and bhall forthwith deliver'poestesion to the purchaser at such sale 'or be
<br />wmmarily; dispossessed, in ,accordance' with the provisions of law applicable to tenants' holding over. The power
<br />and agency hereby granted are coupled with an intereeCand are irrevocable bv,death or btherwiee, and are granted
<br />as cumulative to he remedies for collettion of aid indebtedness provided bv~law.
<br />, ,-
<br />4. The roeeeds of ao sak oGsaid ~~ ~ s ir-asraerdance-with the recedin a a shall be • Led brat
<br />P y Prat. P 8 P~ P~ PP
<br />Yo pay the ceab and ezpen"~s"oCiia'id dale, tbe'6t¢etincurred by the.mortgagee Ior the purpose of protecting or main-
<br />taining said property,'and reasonable attorneys' fees; secondly, to pay the indebtedness necured hereby; and thirdly,
<br />to pay any au-plus or etccees to the person or persona legally entitled thereto.
<br />S. In thetrwt wid property is old eta judicial foreclosure°sale or pursuant to the power of sale hereinabove
<br />granted, and the. procteda arc norsuAicient to pay he tout indebtedness xcured by his instrument and evidenced by
<br />said promiwoty note, the mort6agee will be entitled to a deficiency judgment for the amount of the de(tciency,without
<br />naarrd to spphasseanerst.
<br />b. In the event the mortgagor fails to pay any Federal, state, or local tax assessment, income tax oc other tax lien,
<br />charge, fee, or other expense charged against the property, the mortgagee is hereby. authorized at his option to pay
<br />the name. Any hums no 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 aame;ierms and conditions. if the mortgagor shall pay and
<br />discharge the indebtedness evidenced by, said promissory note, and shalLpay uch sums and shall discharge: all taxes
<br />and. liens and the costs, fees, and expenses of making, enforcing, and executing this mortgage, then this mortgage
<br />shall be canceled and eurrenderetl.
<br />i. The covenants herein contained shall bind and the benefits and advantages shall inure to the respective auo
<br />ceron and assigu of thq parties hereto. Whenevtr ustd, tha singular number shall include the plural,. the plural the
<br />singular, and the use of any gender shall include alIgeadera
<br />8. No waiver of any covenant. herein or of the ob&gation secured hereby shall at any trot thereafter be held
<br />t~ '!r_ a waiver of the terms hereof or of tbtbott necured hereby.
<br />9. In rnmplunce with section IGl.l (d) of the Rules and -Regvlatiom of the: Small Business Administration [13
<br />C.F.R. 101.1 (d) ), this instrument a to be construed and enforced in accordance with ppplieable Federal law..
<br />IU. A judictal decree, order, or judgment holding any. provision or portion. of this instrument invalid orun-
<br />enforccahlr shall rat in any way impair orpreclude the enforcement of the remaining provinionn or portions of
<br />L this tract nlment.
<br />1 <iy
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<br />sa4 rsew 9R4 fn-431
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