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<br />3. 7'he mortgagor covenants and agrees that if he. shalt [foil to pay said indebtedness or any part thereof when
<br />due, or shall fat! to perform any covenant or agreement of this instrument or the promissory note secured hereby, the
<br />entire indebtedness hereby secured shalt immediately 'aecome due, payable, and collectible without native, 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 (the mortgagor having waived and aasigned to the mortgagee all rights of
<br />appraisement)
<br />(t) at judicial Bale pursuant to the provisions of 28 U.S.C. 2001 (a) : or
<br />(tt) at the option of the mortgagee, either by auction or by eoL+citation of sealed bide,'for the highest and
<br />beat bid complying with the terms of sale and meaner of payment specified in the published notice of Bale, first
<br />giving lour weeks' notice of the time, terms, and place of such sale, by advertisement not lees than once
<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 />befiali of said mortgagee, may bid with the unpaid indebtedness evidenced by said note). Said sale tdtall be
<br />held at or oa the property to be void or at the Federal, county, or city courthouse for the cauaty in which the
<br />property ie located. The mortgagee is hereby authorized to ezecute for and on behalf of the mortgagor sad to
<br />deliver to the purchaser at such sale a sufficient conveyance of said property, which conveyance shall coataut
<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 conetitutea and appbinta the mortgagee or any agent or attorney of the
<br />mortgagee, the agent and attorney in fact of said mortgagor to make such recitals and to ezecute said
<br />oonveyaace sad hereby coveaanta and agrees that the recitals so made shall be effectual to bar alt equity or
<br />right of redemption, homestead,. dower, and all other exemptions of the mortgagor, all of which arc hereby
<br />expressly waived and conveyed to the mortgagee; or
<br />(tn) take any other appropriate action pureuatti to elate or Federal statute either in state or Federal
<br />court or otherwise for the disposition of the property.
<br />In the event of a sale as hereinabove provided, the mortgagor or any person in posaeaeion under the mortgagor shall
<br />then become and be tenants holding over and shall forthwith deliver poeaeseion to the purchaser at such axle 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, and are grattted
<br />as cumulative to the remedies for collection of said indebtedness provided by law.
<br />4. The proceeds of ate! sale of acid property~in aceordance with the preceding paragraphs shall 6e applied fiztt
<br />to pay the erases and e:peaea of said Bale, the ezpanaee incurred by the mortgage for the purpose of protecting or main•
<br />taiaiag said property, and re~~nable attorneys'-fees; secondly, to pay the indebtedness secured hereby; and thirdly,
<br />to pay any surplus or excess to the person or persons legally entitled thereto.
<br />5. In the event said property is Bold at a judicial foreclosure sale or pursuant to the power of sale herei$ahove
<br />granted, and the proceeds are not su~cient to pay the total indebtedness secured by this instrument and evidencril by
<br />said promissory cote, the mortgagee will be entitled to ~ deficiency judgment for the amount of the defuic.tey asitkort
<br />re~atd t0 appraisentent.
<br />6. In the event the mertpags fair to pay any Federal, state, or local !ax aaseasmcat, income tax or other tax lien,
<br />charge, fee, or other expense charged against the property, the mortgagee is hereby authorized at hit option ern pay
<br />the same. Any soma so paid by the mortgagee shall be added to and become a pan of the principal amount of the
<br />indebtedness evidenml by said note, subject to the same terms and conditions. If the mortgagor shall pay sad
<br />discharge the indebtedness evidenced by said protniaeory note, and shall pay such soma and shall discharge ail taxes
<br />sad liens and the coats, tees, and expenses of making, enforcing, and executing this mortgage, then this mortgage
<br />shall be canceled and surrendered.
<br />7. The covenants herein contained shalt bind and the benefits and advantages shall inure to the tYSpeetive ant
<br />eerwn and assigns of the parties hereto. Whenever used, the singular number shall inchtde she phtral. 31x plural tlm
<br />siagatar, and the tree of say header shall include all genders.
<br />$. No waiver oI any covenant herein or of the obligation secured hereby shall at say ume thereafeet be bald
<br />to be a waiver of rho terms heretiCor of the ante secured herahy.
<br />9. In e~mpliaaee with eectioa 101.1(d) of the Rules sad Regulations of the Small Business tldatiaistratioa (IS
<br />C.F.R. 101.I(d)j. this iaattvmeat is to be construed and caforced in accordance with applicable Federal law.
<br />10. A jndfeial decree, order, or judgment holding any provision or portion of this instrument invalid or ua-
<br />eetorceable Mall eat is any Wray impair or preclude the enforcement of the remaining praviriaaa or portions of
<br />thu instrument.
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