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<br />3. The mortgagor covenanU and agrees that if he shall fail to pay esid indebtedness or any part thereof when
<br />due, or shall faiLto 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 seaigna, regacdfess of maturity, and the mortgagee or his assigns may before or a€ter entry
<br />sell said property without appraisement (the mortgagor having waived and assigned to the mortgagee all rights of
<br />appraiaement)
<br />1 t) at judicial sale pursuant to the provisions of 28 U.S.C. 2001(x) : or
<br />(u) at the option of the mortgagee, either by auction or by solicitation of sealed bids,~for the highest w8
<br />best bid complying with the terms o[ sale and roamer of payment specified in the published notice of sale. first
<br />giving four weeks' notice of the time, terms, and place o[ such sale, by advertisement not leas than once
<br />during each of said four weeks in a newspaper publisher) or distributed in the county in which said property
<br />is aitwted, all other notice being hereby waived by the mortgagor (and said mortgagee, or any petmon on
<br />behalf of said mortgagee, may bid with the unpaid indebtedness evidenced by said note}. Said salt shall be
<br />held at or on the property to Ile sold or at the Federal, county, or city courthouse for the county in which the
<br />property is located. TLe mortgagee is hereby authorized to execute for and on behalf of the mortgagor and to
<br />deliver to the purchaser at such salt a sufficient conveyance of said property, which conveyance shall conLin
<br />reeitab as to the happening of the default upon which the execution of the power of Bale herein granted
<br />depeade; and the asid mortgagor hereby constitutes and appbinta the mortgagee or any agent or attorney of the
<br />mortgagee, the agent and attorney in fact of said mortgagor to make each recitals and to execute said
<br />conveyance and hereby covenants and agree that the recitals so made shall be e$cetnal to bar all egnitp or
<br />right of redemption, homestead, dower, end all other exemptions of the mortgagor, all of which are hereby
<br />°zpresly ..°tved V•••d .v....-,fd in ti_.e1__-_ mortgagee; nr
<br />(w) take any other appropriate action pursuant to elate or Fedora) statute either in state or Federal
<br />court or otherwise for the dispoeidoa of the property.
<br />In the event of a sale sa hereinabove provided, the mortgagor or any person in possession under the mortgagor shall
<br />then become and be tenants holding over and shall forthwith deliver possession to the purchaser at such sale or be
<br />ntmmarify diapoeeessed, in accordance with the provisions of law applicable to tenants holding over. The power
<br />and agency hereby granted are coupled with an interest and are irrevocable by death or otherwise, and are granted
<br />n cumulative to the remedies for collection o[ said indebtedness provided by law.
<br />4. The proceeds of arty ask of said property in accordance with the preceding Paragraphs shall be applied first
<br />to pay the coats +at~atJUeaia el` iu"~si~e, the ezpemea incurred by the mortgagee for the pttrpoae of protecting or main-
<br />tainiag said pt~optrty, and reaaonabie attorneys' fees: secondly, to pay the indebtedness secured hereby; and thirdly,
<br />to pay any sutphta or excess to the person ar persons legally entitled thereto.
<br />5, 1a the event asid property is wld at a judicial foreclosure sale or pursuant to the power of sak heeeinabove
<br />granted, and the paoeeedr are not saieimt to pay the total indebtedness secured by this instrument and evidenced by
<br />said ptemiasory note, the mortgagee will be entitled to n deficiency judgment for the amount of the dejcidecy toit/tatt
<br />rt~od to sppr~aentatr.
<br />5. In the event the mortgagor fails to pay any Federal, state, or local tax aaeeasment. income tax or other tax lien,
<br />durg~e, fee, or other expense charged against the property, the mortgagce is hereby authorized st hie option to pay
<br />the acme. Any sums so paid by the mortgagee shall be added to and become a part of the princip:l amount of the
<br />indebtedness evidenced by asid note, subject to the same terms and conditions. If the mortgagor shall pay and
<br />discharge the indehtedttesa evidenced by said promissory note, and shall pay such sums and shall discharge all to:es
<br />and liens and the costa, fees, and expenses of making, enforcing, and executing thin mortgage, then this mortgage
<br />shall be rancekd sad ettrrendercd.
<br />7. The covenants herein contained ahaD bind and the beaefita and advantages shall mare to the respective stx
<br />eeasosa and assigns of the parties Loreto. Whenever used, flee singnLr number shall include the phtral. the pineal the
<br />aiegnly, attd the me of my gender shall iacinde aL gmdera.
<br />&. No waiver of any coveaaat herein or of the obligation secured hereby shall at any time thereafter 6e held
<br />to be a waiver of the terms hereof ar of the note secured hereby.
<br />9. In omapliance with section 101.1(d) of tLe Rnld and Regu)atians of the Small Buainrr Adminisuatson [13
<br />C.F.R. 181.1(d)). this iwtrneaeat is to be ooastrued and enforced >a aceocdanoe witL applu:able Federal law.
<br />1Q A ja+litiaf decree, order, or jadgntcnt holding any proviaiese or portion of this instrument invalid or tm•
<br />sa[oreeable shall sot in any way tmpsir or precladc iLe mforrxttunt of the remaining provisions or portiom of
<br />this isKramatt.
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