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<br />3. The mortgagor covenants and agrees that if he shall fail to pay said indebtedness or any part thereof when
<br />due, or shall fail to perform any covenant or agreement of this instrument ur the promissory note seenrerl heretic, the
<br />entire indebtednr s hereby secured shall immediately become due, payable, and collectible a.ithout notice, al the
<br />Dolton of the mortgagee or assigns, regardless of maturih•. and the mortgagee or his as~i~n-mac hefom or after eery:
<br />sell said property without appraiaement Ithe mortgagor having waived and assittrerd to the mortgagee all rights of
<br />appraiaement)
<br />t 1 at judicial sale pursuant to the provisions o[ 28 L'.~.C. 2(1111 + a I ; ur
<br />(tt 1 at the option of the mortgagee, either by auction or b3 solicitation oC sealed bide, for the highest sad
<br />best bid complying with the terms of safe and manner of payment specified in the published notice of sale, first
<br />giving four WeekR notice of the time, tone.. and p]aee of such sale, h. adaerii>ement :rot Its. than once
<br />during each of said four weeks in a newspaper published or distributed in the county in which said property
<br />zE situated, all other notice being hereby waived by the mortgagor (and said mortgagee, or any person on
<br />behalf of said mortgagee, may bid with the unpaid indebtedness evidenced be said sorer. Said sale shall be
<br />held at or on the property to be sold or at the Federal, county, or city courthouse for the county in which the
<br />property is located. The mortgagee ie hereby authorized to execute for and on behalf of the mortgagor and to
<br />deliver to the purchaser at such Bale a sufficient conveyance of said property, which conveyance shall contain
<br />recitals as to the happening of the default upon which the execution of the power of sale herein granted
<br />depends; and the said mortgagor hereby constitutes and appoints the mortgagee or any agent or attorney of the
<br />ffiortgagee, the agent and attorney in fact of said mortgagor to make such recitals and to execute said
<br />cos;veyanm and hereby covenants and agrees that the recitals so made shall be effectual to bar all equity or
<br />right of redemption, homestead, dower, and nil other exemptions of the mortgagor, all of which err hereha
<br />expressly waived and rnnveyed to the mortgatee; or
<br />tut! take say other appropriate action pursuant to state or Federal statute either in state ur Federal
<br />court or otherwise for the disposition of the property.
<br />Ice the event of a sale as hereinbefore provided, the mortgagor or any persons in possession under the mort-
<br />gagor shall then become and be tenants holding oaer and shall forthwith deliver poaveuion to the purchaser at
<br />such task or be summarily dispoa.esaed, in accordance with the provisions of IaN applicable to tenants holriing oaer.
<br />Tht power and agency hereby granted are coupled with an interest anti are irreaucabie by death or uthrrwise, and
<br />are granted as cumulative to the remedies for collection of said indebtedness pros ided be law.
<br />4. The proceeds of ury sak of acid property is accordance with the preceding paragraphs shall be applied first
<br />to pay the costs and e:peasea of said yak, the expenses inen: red by the mortgagee for the purpose of protecting or main-
<br />taining said prapertc, and reaaaaable attorneys' fees; secondly, to pas the indrhtedne~ _=:cured hrreha ;and thirdly,
<br />to pry any surplus or eieeas to the person or persona legally entitled thereto.
<br />~. fn the event said property is said at a judicial foreeloaare sale or pursuant to the power of sale hereinabove
<br />granted, and the proceeds are net sul5cien*_ to pas the total indebtedness sect::rd by this iaatraalent and evidett€ed by
<br />said proapiasory note, the mortgagee still be entitled to a deScieacy judgment for the amount of the defu~ienry trrithotu
<br />rrgaFd to sA~.
<br />6. In tht event the morigagor fails to pay- ana Federal, state, ur ]Deal ta• axesameut, incon+r tax or other ta.
<br />lie:a., sharer, ffte or otbtr expense charged aftaiast the property the mortgagee i. hrreha authorised at hie option w
<br />pay the s:me_ Aav earns ao paid by the nrartgagee aha1I be added to sad become a hart of the tarincipat amount of tha-
<br />iradebtedneas e~•ideneed by said note, sabject to the same terms and conditiaas- if the mortgagor shall pay and
<br />diateharge the indkbtedness evidenced by said promissory note, and shalt pay sLCh sums and shall discharge all
<br />tam sad lieaa sad the eaalx, tees, and ezpeaxs of making, enfoninlt, and executing this mortgage, then this mortgage
<br />•ball be e~eeled sad aprnmdered,
<br />'+- The covepapir Lereia spat:iatd shall hind sad the berreSta and adaautagea shall inure to ehr rr~lwctirr ~uc-
<br />eeee~a and aasigaa sat the parties hereto. ewer need, the singufar anmber shall include the plural, the plural the
<br />arced the t»!; ed sag geaadsr shall =nelnsle all genders.
<br />& lvo waiv« of spy eoveaapt herein or of the obligation secured hereby shall at an. time therraftrr br held
<br />~ be x waiver of the terms 6ereot or of tine torte assayed hereb}-
<br />9. A >~v dsasae, order, sm judgment bolding say provision or portion of this iwtrument inaalid ur wr~n-
<br />fm+eeaihic shall rant ~ ~~ way istpaiz err preclude the esforteraetrt of tilt rrmaiaing, Israviriora or 1>ortiotta o! this
<br />IQ 1l~y trrittae ,tottlex to lPe isa~ to the axutgagor putt+naat w the prnvtaicna of thir ia~rramdtt sharp be ad-
<br />dseaasi tp tdar moregaypar u
<br />.ad say wr;ttea atotise to be isaaed to the tmertgaRee shall
<br />ire add:aoed to the etortgttgee at
<br />eau aa..z..
<br />S®A FORM 42a t2-731
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