|
<br />79-- 00465 a
<br />3. The mortgagor covenants and agrees that if he shall fail to pay said indebtedness ur any part thereof when
<br />due, or shall fail to perform any covenant or agreement of this instrument or the promissory emote secstred hereby, the
<br />entire 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 i the mortgagor having waived and assigned to the mortgagee all eights of
<br />appraisement)
<br />1 t j at judicial sale puniuant to the provisions of 28 i.ti.t:. 2tH11 i a i ; ur
<br />(u) at Lire option of the mortgagee, either by auction or by solicitation of sealed bide, for the highest and
<br />beat bid complying with the testa of Bale sad manner of payment specified in the published notice of sale, first
<br />giving four weeks' notice of the time, terms, and place oC such sale, h. arhrrtiscmen! not less Ihan uncr•
<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 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 by said note). Said sale shall be
<br />held ai 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 is hereby authorized to execute for and on behalf oC the mortgagor sad to
<br />deliver to the purehaeer at ouch sale a att(ficient conveyance of said property, which conveyance shall contain
<br />czars a>t, to the happening of the default upon which the execution of the power of sale herein granted
<br />de ~ hereby constitutes and appoints the mortgagee or any agent or attorney of the
<br />mo _ ~ ' t c 'rattoipey in fact of said mortgagor to make such recitals and to execute acid
<br />~ RFTaR r~rU
<br />conveysntt aad~ereby rn'l4aaifta sad agrees that the recitals so made shall be eSectual to bar all equity or
<br />right of redtmption, homestead, dower, and all other exemptions of the mortgagor. all of which err hereh~
<br />ezprzssly waived and conveyed to the mortgagee: or
<br />(tits take sat' oiber appropriate action pursuant to state or Federal itatutr either in .fair ar i•edrral
<br />court or otherwise for the disposition of the property.
<br />In the event of s sale as hereinbefore provided, the mortgagor or any persons in poeaetdion Hader the mort-
<br />gagor rhall then become and 6e tenant= holding over and shall forthwith deliver possession to the purchaser at
<br />such sale ar be summarily dispossessed, in accordance with the provisions of law applicable to tenants holding Dyer.
<br />The Bower and agency hereby granted are coupled with an interest and are irrevocable by death or oihrncise, and
<br />aze Brasted as cumulative to the remed,es fo* coiiection of said indebtedness provided be law.
<br />9. The proceeds of any sale of said property in secordance with the preceding paragraphs shall be applied first
<br />to par the costa attd ezpenaes d said sale, the ezpetteea incurred hp the mortgagee for the purpose o[ protecting oa maio-
<br />taittitsg said property, and reasonable attotaey~ lets; secondly, to pay the indrbtednes< secured hrreb~ ;and thirdly,
<br />to pay say stuplus of excda to the person or persons legally entitled thereto.
<br />5. Ia the event acid property is sold at a judicial foreclosure Bale ar punuant to the power of sale hereinaboye
<br />granted, sad the procetda are not snffieient to sac the total indebtedness secured by thin instrument and evidenced by
<br />said pramiaaon• note. the mortgagee will bt entitled to a deficiency judgment for the amount of the de~ciency essthout
<br />regard to apprsiserrraai.
<br />6. In the event the mortgagor {ails to pay any Federal, state, or local tai asr,essmen4 income Lac ar other toy
<br />lies, charge, foe, or other expense charged against tlse property the mortgagee is hereby authorised at hie option to
<br />pay the same. Anv soma so paid by the mortgagee shall be added to and become a part of the principal amomtt of the
<br />'-,.w~~y'edness evidenced by said ante, anbjeet to the same terms and conditions. If the mortgagor shall pay end
<br />tliaehar~e Ilse indebtedness erideared by said promissory note, sad shall pay such sums and shall discharge all
<br />tatcm and lieaa and the ecattS fees, and expeasea of maitinE, enforcing, and executing this mortgage, then this mortgage
<br />•haII be canceled and wrtimdered.
<br />7- The eovraaaes heraa otm[aiaed ahald bind sad the benefits and ad•antagts, shall inure to the rr.prctitr ~uc-
<br />eeron sad atodsa d the parties hereto. Whenever Hoed, the ringahtr number shall include the plural, the plural the
<br />angalar, sad the ass d any gearles shall iaetode all geadera.
<br />8. Na salver of arty eoveaant heteut or of the obligation secured hereby shall at an. time therra(irr br helel
<br />to he a traiver d the eesess hermt or of the ssote secnrzd hereby.
<br />~. A dsriae, order, or jatlgaaent holding any provieioa or portion ui thts inrtrummt invalid ur uueu-
<br />lmseahla akall ace $ say r~vay impair or preclude the znfoxrwaent of the remaining provisions or lwrtions of tkis
<br />18, Any writes tsatiee to be isaoa: to the tmrtaaaor pnrsuaat to the provisiens d thin instrument shall be ad-
<br />dtateai Ea3lr+taaetpyptr d
<br />and say written tsotiee to be iasaed to the mortgagee shall
<br />6e addtzmtsd m the ttaatttattfiee at
<br />a8A FORM !2a t2-]31
<br />
|