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<br />3. The mortgagor COVP.naal[i and agrees that if he shall fail to pay said indebtedness or an}' part thereof when
<br />due, or shall (ail to perform any covenant or agreement of this instrument or the prmuissocy note secured hereby, the
<br />entire indebtedness hereby secured shall inunediately become due, payable, sort 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 withmu appraisement Ithr mortgagor having waived sort assigned to the mortgagee all rights of
<br />appraisement)
<br />t t j at judicial sale pursuant to the provisions of 28 U.S.C. 2001 ~ a l ; ur
<br />(u j at the option of the mortgagee, either by auction or by solicitation of sealed bide, for the highest and
<br />beat bid complying with the terms of Bale and manner of payment specified in the published notice of sale, first
<br />giving four weeks' notice of the [itnr, trrntn, and place of sorb sale, h. adtrrti~enu~ut not Irs~ Ihan once
<br />during each of said tour weeks in a newspaper published or distributed in the county in which said property
<br />ie situated, all other notice being i;eeeby waived by the mortgagor (and said mortgagee, or an}' person on
<br />behalt of said mortgagee, may bid with the unpaid indebtedness evidenced b}' said note). 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 is hereby authorized to execute far and on behalf of the mortgagor and to
<br />deliver to the purchaser at ouch sale a sufficient conveyance of said property, which conveyance shall rnntain
<br />recitaie as [e rite happening of the de(auh upon which the C]LCl'UttuT of :hc pawcr cf sale herein
<br />g. acted
<br />depends; and the said mortgagor hereby constitutes and appoints the mortgagee or any agent or attoraey of the
<br />mortgagee, the agent and attorney in fact of said mortgagor to make each recitals and to execute said
<br />conveyance and hereby covenants and agrees that the recitals so made shall be effectual to bar all equity or
<br />_,~l,. ~! ~...le....t;..,. Le•,,e•t„9d_ d,,,,•Rr• _,,,{ all Debar .. _ _. oNons r,f the mortgagor, ali of rvlurh are hereh_r
<br />expressly waived and conveyed to the mortgagee; or
<br />Uu 1 take an,y other appropriate action pursuant to xtatc or M•rdrral stauue either iu sate or F•rderal
<br />mart or otherwise for the disposition of the properh.
<br />In the event of a sale ae hereinbefore provided, the mortgagor or any pereotte in possession under the mort•
<br />gagor shall then become and be tenants holding over and shall forthwith deliver possession to the purchaser at
<br />such sale or be summarily dispossessed, in accordance with the provisions of law applicable to tenants holding over.
<br />The power and agency hereby granted are coupled with an interest and are irrevocable by death Or Oth E•rwlNe, Nn1I
<br />are granted as cumula ' aBfmdcallaetibn of said indebtedness provided by law.
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<br />4. The proceeds of an sale of said property in accordance with the preceding paragraphs shall be applied first
<br />to pay the costs and expenses oC said sale, the expenses incurred by the mortgagee for the purpose of protecting or main-
<br />taining said property, and reasonable attorneys' fees; secondly, to pay the iudrbtedne,s secured hereby: and thirdly,
<br />to nay any suralue or excess to the person or uereons legally entitled therrW,
<br />5. in the event said property ie sod at a judicial foreclosure sate or pursuant to the power of saM hereinabove
<br />granted, sad rho proceeds are not ettfftcient to pa} the total indebtedness secured by this inttrument and evidenced by
<br />said promissory sole, fire mortgagee will be entitled to s deficiency judgment for the amount of the tfe~irieney tvithoat
<br />regard to appraisement.
<br />6. Lt the evenu the mortgagor fails to pa} an} Federal, state, ur local iax assrsamrut, income tax or other lux
<br />lion, charge, fee, or other expense charged against the property the mortgagee is hereby authorized at his option to
<br />pay the same. Arty sums so paid by the mortgagee shall be added to end become a part of the principal amount of the
<br />indebtedness evidenced by said note, subject to the same terms and ronditions, If the mortgagor tdtall pay and
<br />discharge rho indebtedness evidenced by said promissory nuke, and shall pay eueh sums and shall diaeharge all
<br />tortes and liens and the ewts, fees, and exponaea of making, enforcing, and executing this roorlgage, then this moetgage
<br />rhall be canceler! and surrendered.
<br />7, The covenants harem contained shall bind and the benefits and advantages shall inure t„ the n•~prctivr suc-
<br />Ctr.wra and asaigw of the panics hereto. Whenever used, the singular number shall include she phtral, she p1un1 the
<br />singular, and the use of say grader shall include all genders.
<br />8, No waiver of any covenant heroin or of the obligation secured hereb} shall at am lime therraCerr l,r held
<br />to be ^ waiver of the terms hereof or of the note secured hercbt.
<br />9. A judicial deerce, order, or judgtttent holding arty provision oe portion of this instrument invalid rte uuem
<br />[otxtaable shall not in any way impair or preclude the enforcement of the remaining provisions or portions of this
<br />instrwtteut.
<br />10. Any written notice to 6e issued to the tmortgagor purersant to the provi~cna of this in~rttment shat! be ad•
<br />drhsedtotlt^mortaattoru 211 Wes! 4th, Grand Island, NE 68801
<br />and .ny written ttwtiee to be ;.eaed to the mortgagee shalt
<br />he addrered to the mortgagee at 2015 N. Broadwell, P.0. Box 1507, Grand Island, NE 68801
<br />GPO Y'. ~,2 ~~
<br />SBA FORM 923 t2.73)
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