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<br />3. 'Phe mortgagar covenants and agrees that if he shall tali to pay said indebtedness or any part thereo[ when
<br />due, or shall fail to perform any covenant or agreement of this instrument or the promissory note secured hereby, the
<br />satire indehtedr. yes hereby secured shall immediately become due, payable, and collectible without notice, at the
<br />option of the mortgagee or assigns, regardiesa of maturity, and the mortgagee or his assigns may before or after entry
<br />tell said property withoplappraisement (the mortgagor having waived and assigned to the mortgagee all rights of
<br />appraieement)
<br />I t i at judicial sale pursuant to the provisions of 2g U.S.C. 20011 a) ; or
<br />(sa j at the option of the mortgagee, either by auction or by solieitatioa of xaled bide; far the highest and
<br />best Itid camptyiag with the terms of sale and manner of payment specified in the published notice of sale, fiat
<br />giving four weeks' notice of the time, terms, and place of such Bale, by advertisement not leas than once
<br />during each of said lour weeks in a newspaper published or +liatributed 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 uap:Yd indebtedness evidenced by said note). Said sale ehaU be
<br />held at or on the property to be sold or at the. I''ederal, county, or city courthouse for the county in which the
<br />property is located. Tht mortgagee is hereby authorised to execute for and on behalf of the mortgagar sad to
<br />deliver to the purchaser at such sale a sufficient conveyance of said property, which coavey+tnce shall contain
<br />recitals as to the happening of the defaalt upon which the execution of the power of sale herein gtxated
<br />depends; and the acid mortgagor hereby constitutes and ^ppbinte the mortgagee or any agent or attorney of the
<br />mortgageq the agent and attorney in tact of said mortgagor to make snch recitab sad to szecute said
<br />conveyance and hereby covenants and agrees that the recitals so made shall be efteetual to bar all equity or
<br />right of redemption, homestead, dower, and al- other exemptions o3 the mortgagor, all of which are hereby
<br />expressly waived and conveyed to the mortgagee; or
<br />_ny .. app ~pr,a -
<br />i ttt) take ' ^t!nr ~ - - ~ pursuant to stale or rederai statute either in slate ar federal
<br />court or otherwise for the disposition of~the property.
<br />In the event of a sale u hereinabove provided, the mortgagor or any person in possession under the morigsgar shall
<br />flan become and be tenants holding over and shall forthwith deliver poeaeasion to the purchaser at such cab: or be
<br />summarily dispossessed, 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, end are granted
<br />as cumulative to the remedies {or collection of said indebtedness provided by law.
<br />1. The proceeds of any sale of said propr~tp is aaoraiancr with the preceding paragraphs shall be applied foal
<br />to pay the costs and szpettses of .aid sale, the expenses incurred by the martgag~ tar the purpose of praleeting erc aaaia•
<br />twining said property, and reasonable attorneys' fees; secondly, to pay the indebtednaa secured hereby; end thirdly,
<br />to pay nay surplus or excess to the person or persons legspy entitled tharew.
<br />5. Ia the evsal acid praperty is sold at a judicial fsremlasuse sale or pnrsuaat to the perrer of sale berm
<br />granted, sad the proceeds are twt wffeciant to pay the total indebtedtn,gs eer:ured by the ieatentete~t sad avid
<br />told pt»mtesory torte, the mattgagsa will bs antitlsd to 9 delitcisacy f~ for this atttamt ~ tIt€
<br />rs±a s~ _
<br />h, In the event lire mortKaxos lath to pay nay Federal, stair, or coral taz assessment, income tan ar other tax hen,
<br />charge, toe, or other ezpetu+e charged against the property, the mortgagee it heroby authorised st his apiion m pay
<br />the same. Any sums so paid by the mortgages shall be added to and become a part of the principal amount ~ ohs
<br />iadsbted:u>ds evidaaeed by raid note, subject to the name terms and conditions. if the atortgsj;or shall par sad
<br />dhcharge ills indebtedness evidenced by said promissory note, and shall peg such inrraa and shall discharge ail tsxcw
<br />sad liens an~r the casts, (err, and sxpetwas of making, enforcing, sod executing this mortgage, then thin asostgaga
<br />shall be esaetied sad surnendernl.
<br />7. ~i'11e CpYeaaaU bP,rela CGaltaiaed dull bind ind /ltC benefits sad advaAlagss shall 16ure i0 the rwpsctive aYt+
<br />aaatsn and assigns of tba parties hereta.lVheawvsr used, the singular aueaber shall iaehtde the phtral, the plant eke
<br />ae~lar, sad the sae sd slay gem` shall ii~trda ail gat3dera.
<br />8, IVo waiver e/ nay asvenaa! herein er of the obli;atiass centered kereAy dtall at nay lima thsreattsr be ka~
<br />to 6s a waiver of the teraq heraot or of the ssAettseii Ithv.
<br />9. Ia ixanpliatsee fetch seotiost 141.1(d) et the Arh?t sad Itegalstieas of tits ~sll hhsaiamss Add (l~
<br />C.F,R. I61.lid) j, skis Imtrmueat i. tat be estmlrued and stt~Xar+xd Ia ~ with spplleaablsFadas+f law,
<br />16: A, jwdirial deetea, order, ar ~adsnt ~
<br />aatsraestide ekall not hs as w Irg y ptefvimaa ar p°s#i.~n rt flats ~l invalid w t~a-
<br />y h' iatpair or preehrde ebe entorcemenat of the reaeaining prirvisieaea er partiaw
<br />skis-istt+trutaeat.
<br />6Pp i1i-ili
<br />esa rw« saT is-.fa)
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