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<br />79-- Ut'w:~34i
<br />3. The mortgagez covenants and agree that if he shall fail to pay said iadebiednem or any part thereof when
<br />due, or shat! tail to perform any covenant or agreement of this instrument or the promissory note cured hereby, the
<br />ratite iadehtedneas hereby secured shalt immediately become due, payable, and collectible without notice, at the
<br />option of the mortgagee or assigns, regardless of maturity; and the mortgagee or hie assigns may before or after entry
<br />soil said property without appraisement (the mortgagor having waived and assigned to the mortgagee all rights of
<br />appraisement)
<br />(tl at judicial sale pursuant to the provisions of 281J.S.C. 2001(a}; or
<br />(Yt) at the option of the mortgagee, either by auction or by aolicitatioa of sealed bids.'for the highest and
<br />best bid complying with the tetau of sale and manner of ps; mmt specified is the published notice of sale, fitrt
<br />giving four weeks' notice of the time, terms, sad place of such sale, by advertisement not lean than once
<br />during sash of said four weeks in a newspaper published or distributed in the county in which said property
<br />is situated, all other aotiee being hereby waived by the mortgagor {and acid mortgagee, or any person on
<br />behsif of said mortgagee, may bid with the unpaid i~debtedneae evidenced by said note). Said sale shall be
<br />held st or on the property to be Bold or at the Federal, county, or city courthouse for the county in which the
<br />property ie located. The mortgagee ie hereby authorized to ezecute for and on behaU of the mortgagoa and to
<br />deliver to the purchaser at each sale a eul6cient conveyance of said property, which conveyance chap contain
<br />recitals m to the 6appeniag of the default upon wbieh the exDCUtion of tliD power of sale .`,Drain granted
<br />depends; and the said mortgagor hereby cotutitutea and appoints the mortgagee or sny agent or attorney of the
<br />mortgagor, the agent and attorney in fact of said mortgagor to make each recitals and to ezecute said
<br />eonveyaaee and hereby covenants and agrees that the recitals ro made shalt be effectual to bar all equity or
<br />ri~t-aP. m_dn~ne~ h..ans~tn~d_ ._L,,.._ , .t.l alt ether e..~-tpti.,=.e of the ,a 4ortgagvr, -ii of w-hi n arc hereby
<br />expressly waived and conveyed Ito the mortgagee; or _
<br />(ut) 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 Bale as hereinabove provided, the mortgagor or any person in possession order the mortgagor shall
<br />then become and be tenants holding over and shall forthwith deliver possession to the purchsxr at such sale or bt
<br />summarily dispoeeesaed, in accordance with the provisions of law applicable to tenants holding over. The power
<br />and agency hereby granted are coupled with an interest znd are irrevocable by death or a~herwise, and are granted
<br />as enmulative to the remedies for collection of said indebtedness provided by law.
<br />4. 'The pweaede of any uk of acid property in accordance with the Preceding paragraphs shall be applied Brat
<br />to pay the sow a~ e:peuw of said ask, the e:peosea incurred by the mortgagee for the pnrpoae of protectiteg or main-
<br />taining said property, aed reasonable attorneys' fees; secondly, to pay the indebtedness secured hereby; and thirdly,
<br />to pay any surphts or seems to the person or persons legally entitled thereto.
<br />S. Ia the event acid property is Bold at a judicial foreeloeuee sale or pursuant to the power of sak hereinabove
<br />grated. send the proceeds are not w6cimt w pay the total indebtedness secured by this 5mtrammt and evidenced by
<br />said promissory note, the mortgagee will be entitled to n de6cicnry jndgmmt for the amount of the de fieiency seitaostt
<br />regvd to sppraiselwact•
<br />6. Ia the event the mortgagor fails to pay env Federal, state, or local tax asaesement, income tax or other taz lien,
<br />charge, fee, or other expense charged against the property, the mortgagee u hereby authorised at his option to pay
<br />the acme. Any auras no paid bg the mortgagee shall be added to and become a part of the principal amount of the
<br />iadebtedmae 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 ail taxer
<br />and liens and the coats, fees, and ezper>sea of making, enforcing, and eseeuting this mortgage, then this mortgage
<br />stall lte caaeekd and surrendered.
<br />7. The cwvmaa4 herein contained ahaU bind and the batefite and advantages shall innn to the respective sew
<br />esters and aas;gua of the partKa hereto. >Vhmever used, the siagnLr number eluil iteclnde the phtnl, the plnrai the
<br />aiagaLr. and fire ttae of say gender shall inelode aB genders.
<br />$. No waiver of any envmant herein or of the obligation eecnred hereby shall at any time thereafter be held
<br />to be a waiver of the terms hereof or of the sate secured hereby.
<br />9• ~ ~Plisna with aectioa 1QI.1(d) of the Raha and Regulations of the Small Bmiaesa Administration (13
<br />GF.R. I01.1 Qd) ), th& iaatrnntentu eo be map:tted sad enforced in aeeordanoe with applicabk Federal Lw.
<br />## A )mil deenie; ard~ ar jnd~neat lsoldiuj: any prorision or portion of this it~ttnment invalid or ew-
<br />~e ahaU not is aey way {mpair or prcelode the en[oreement of the remaining provisions or portiorta of
<br />tbitr.irrtrmmeett.
<br />- _ oPO utev,a
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