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79- ~>>r320fi
<br />3. The mortgagor eovenante aad Agrees that if he shall fail to pay said indebtedness or any part thereof when
<br />dne, or shall fait to perform any covenant or agreement of this instrument ar the promissory note secured hereby, the
<br />satire indebtedness hereby secured shall immediately become due, payable, and collectible without notice, at the
<br />option of the mortgagee or assigns, regardless of maturity, and the mortgagee or his assigns may before or after entry
<br />sell said property without appraisement (the mortgagor having waived and assigned to the martgagee all rights of
<br />appraisement)
<br />(t) at judicial sale pursuant to the provisions of 28 U.S.C.20b1(a): or
<br />(tt} at the option of the mortgagee, either :.y auction or by eolicitatiott of sealed bide; for the highest and
<br />host bid complying with the terms of sale and manger of payment specified is the published notice of sale, brat
<br />giving four weeks' notice of the time, terms, and place of such Bale, by advertisement not lees than otter
<br />during each of said four weeks in a newspaper published or distributed in the county in which said property
<br />is situated, all other nodes being hereby :valved by the mortgagor (and said mortgagee, or any person on
<br />behalf of said mortgagee, may bid with the unpaid indebtedness evidenced by said note). Said sale shall be
<br />held at or on the property to be Bold or at the Federal, rnunty, or city courthouse far the county in which the
<br />groperty is located. The mortgagce is hereby authorised to execute for and oa behalf of the mortgagor aad to
<br />deliver to the purchaser at such sale a wf&ient conveyance of said property, which conveyance shall contain
<br />reeitaL as to the happeaiog of the default upon which the exception of the power of sale herein granted
<br />depmda; and the said mortgagor 6erreby conetitutea and appbinta the mortgagee or any agent or attorney of the
<br />tortgagee, the agent aad attorcey in fact o[ said mortgagor to make such recitals and to ezeente said
<br />emveyance aad hereby wvetraata aad agrees that the recitals so made shall be effectual to bar all equity or
<br />right of redemption, hotneatead, dower, and all ocher exemptions of the mortgagor, all of which are hereby
<br />expremty waived and conveyed to the mortgagee; or
<br />(ttt) take any other appropriate action par7nant to sate 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 any person in possession ender the mortgagor strati
<br />then become and be tenants holding over and shall forthwith deliver possemion to the pnrchaeer at ouch sale or be
<br />snmaaarily dispoeeessed, in accordance with the provisions of law applicable to tenants holding over. The power
<br />and ageaey hereby granted are coupled with an interest and are irrevocable by death or othenrue,`and are granted
<br />a eamalative to the remedies for collection of acid indebtedness provided by law.
<br />•. The prnoceda of sap ask of said property in accordance with the P~~g Paragraphs shall be applied first
<br />ti pay the cows and ezpetnea of said ask, the expenaey incurred by the mortgagce for the pnrpoae of protecting or ~tain-
<br />taiaiag aatd property, and reasonable attoroeys' fees; secondly, to pay the indebtedness secured hereby; and thirdly,
<br />to pay any surplus or eacees to the person or persona legally entitled thereto.
<br />S. Ta the ev:>tt said property a sold :t a judicial foteelasurc sale or ptrrsnant to the power of sale hereiaaltove
<br />granted, aad the proeceda are trot attieient to pay the total indebtedtteaa seeared by this irutrttmeftt aad evidenced by
<br />acid pamiasory note, the arottgagee xill be entitled to + deficieoey judgtaent for the aetotmt of the deficiency taitAort
<br />~~~
<br />5. In the event the mortgagor fails to pay env Federal, state, ar local tax aaseasetent, income tax or other to:Ilea,
<br />charge, fee, or other ezperae durged against the property, the mortgagee is hereby anthorised at his option to pay
<br />the same. Any amps so paid by the mortgagee shall be added to and become a part of the priaeipa! amount of the
<br />iadebtedneaa evidenced by said note, subject to the same trrtns and conditions. II the mortgagor shall pay aad
<br />discharge [he indebtedness evidenced by said promissory note, and shall pay such sums and shall discharge all fazes
<br />and liana and the costa, fees, and e:penxa o[ making, enforcing, and eaecuiing this mortgage, then this mortgage
<br />strati be ea~eied attd surnndered.
<br />7. The covenants herein eoatained shall bind aad the benefits and advantages shall leers to the respective sae
<br />eeaaoei aad aatigoa of the parties hereto. f/hmever rued, the aingnlar nombcr shalt include the pbrral, the plural the
<br />iagalar, and the me of any gender shall ittelade aII gmdea
<br />R Alo waiver of any eovmaat betels or of the obligation aecnred hereby shall :t say time thereafter be held
<br />to tae a waivtt of the terms hereof or of the note seeared hereby.
<br />9. fa abepllaace with aeexiaa 1©1.1(d} of the Rnla aad Regnlatiaru of fire Small Bwiner Adnsittiatratioa [33
<br />C.F.R 20I.1(d} j, this iaatrraaent i. to be eoowrned aad entoreed in accordance with spplieabk Federal law.
<br />ltl. A jedirls= deem, order, or jttdgtneat holding say pt»vissna or portion of this imtrutneat invalid or tto-
<br />aha$ ~ ~ say fray impair or preehrde the eafotroement of the retnaioing provisions or portions of
<br />~atraaamt.
<br />_ - GP09,6 V,0
<br />fit 7w aa! ta-rst
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