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79-p~ [~~~~5`~
<br />3. The mortgagor covenants and agrees that if he shall fail to pay said indebtedness or anti part [hereof when
<br />due, or shall fail to perform any covenant or agreement of this instrument or the promissory note secured 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 aesigas may before or after solo
<br />sell said property without appraieerneni t the mortgagor having waived and assigned to the mortgagee all rights oC
<br />appraisement)
<br />i t I at judicial sale pursuant to the provisions of 28 li.S.(:. 2(101 i a r : ur
<br />(u) at the option of the mortgagee, either by auction or by solicitation oC sealed bide, for the highest and
<br />best bid complying with the terms o(eale and manner of payment specified in the published notice of sale, fire[
<br />giving four weeks notice :.; the limp, terms. and plan of such sale, he aderrtisement not Ir+~ than ours
<br />during each of said four weeks in a newspaper published or distributed in the county in which said property
<br />ie 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 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 for grid on behalf of the mortgagor and to
<br />deliver to the purchaser at such sale a eufficient conveyance of said property, which conveyance shall contain
<br />recitals ae t® the happening of the default upon which the execution of the power of Bale herein granted
<br />depends; and the seid ^tortgegor hereby c_nstile!ee and eppoints the mortgagee or any agent or attorney 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 eo made shall be effectual to bar all equity or
<br />right of redemption, homestead, dower, and all other exrntptions u[ the mortgagor. al! of which arc lsrrel»
<br />expressly waived and conveyed to the mortgagee; or
<br />i nt ~ take guy other appropriate action pursuant to state or 1••ederal statute either in slate ur F'ederul
<br />court or OLhPrw7ae for the diepoaitinn of the property.
<br />In the event of a sale ea hereinbefore provided, the mortgagor or any persons in poeeeeeion under the mort-
<br />gager 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 pmvisions of law applicable kr tenants holding over.
<br />The power and agency hereby granted are coupled with an interest and arc irrevocable by death or otherwise, and
<br />are granted as cumulative to the.remed~a,(or tollgction of said indebtedness provided by law-,
<br />4. The proceeds of any sale of said property in accordance with the preceding paragrnpha shall be applied f[rot
<br />to pay the cwte and expenses of said sale, the expenses incurred by the mortgagee for the ptupoee of protecting ormain•
<br />raining said property, and reasonable attorneys' fees; secondly, to pay the iudrbtrdnraa assured hrreL~ :and thirdly,
<br />>to pay any surplus ar excess to the parson or persons legally entitled thereto.
<br />5, In the event said property is sold at a judicial foreclosure sale or pursuant to the power of sale hcreinabove
<br />granted, and the prr»eda see not sufficient tp pay the total indebtedness secured by this instrument and evfdenced 6y
<br />said promiaeary note, the mortgagee will be entitled to a deficiency judgment for the amount of the deficiency tuitirtout
<br />ceased to approisement.
<br />6. In the event the mortgagor fails to pay and Federal, state, ur local tas asaessmeut, iucomr tax or other t:+~
<br />lien, charge, fee., or ather expense charged against the property the mortgagee is hereby authorized at his oplivn hr
<br />pay the same. Any sums so paid by the mortgagee shall be added to and become a part of the principal somas[ of the
<br />indebtedness evidenced by said note, subject to the same terms and conditions. If the mortgagor shall pay and
<br />discharge the indebtedness evidenced by said promissory note, and shall pay ouch sums and shall discharge all
<br />taxes and liens and the costs, free, and expenses of making, enforcing, and executing this mortaago, than this mortgage
<br />.hall be canceled and surrendered.
<br />7. The coreaaats heroin contained shall bind and the benefits and advantages shall inure to the re,.liretive ane-
<br />aeason end assigns of the parties hereto. Whenever used, the singular number shall include the plural, the plan} the
<br />singuar, and the urn of any gender shall seclude all genden.
<br />8. Na waiver a[ any covenant herein or of the obligation secured hereby shall al am time therrafte•r Itr held
<br />to be a waiver of the terms hereof or of the note secured hereby.
<br />9. A judicial decree, order, or judgment holding guy proviaiou or portion of thin inslrunteml invaKd ur uuen•
<br />forceable shall not its any way impair or preclude the enforcemont of the remaining provisions or Imrtiona of this
<br />IAat1'UlnenL
<br />I0. Any written ttotiee to 6e iaued to the mortgagor pennant to the ptovisicm of this instrument shall be ad-
<br />dtrosaed to tle.+ mortgagor at
<br />and any written Dories to Ile inued to the mortgagae shall
<br />be addrerred to the mortgagee at
<br />er,o ox~.z i~
<br />SaA FpgM 92e 12-791
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