|
~~'~ 3.;The m,ortq~agor r.,orr~nants anti agreee~~that i[ he shall fail to pa~y~ said indehtedness or auv part'thereiri''iwlten
<br />due, of shall fail to perform any covenant or agreement of this instrument or the promissory note secured hereby, the
<br />ertt`ire indebtedness hereby secured shall immediately become due, payable, and collectible without notice, at :he
<br />option of the mortgagee or assigns, regard}ess of maturity, and the mortgagee or his assign, may before or after entry
<br />salt said property without appraisement 1 the mortgagor having waived and assigned to the mortgagee all rights o[
<br />- appraisement)
<br />+ t i at judicial sale pursuan! to the provisions of 28 U.S.C. 2(141 + a } : or
<br />(t[ 7 as the option of the mortgagee, either by auction or by solicitation o[ sealed bid0. for the higbeet and
<br />best bid complying with the terms of sale and manner of payment specified in the published notice of cola, first
<br />Ricing four weekE notice of the rimy, terms, and place o[ such sale, by advrrtiremeut not less than once
<br />during each of said four weeks in a newapnper published or distributed in the county in which said property
<br />is situated, all other nonce being hereby waived by the mortgngor (and said mortgagee, or any person on
<br />behalf of said mortgagee, may bid with the unpaid indebtedness evidenced by said note). Said Bale shall fie
<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 />properly is located. The mortgagee is hereby authorized to execute for and on behalf of the mortgagor and to
<br />deliver to the purchaser at such Bale a sufficient conveyance of said property, which conveyance shall rnntain
<br />recitals as to the happening o[ the default npon which the execution of the power of sale herein greeted
<br />depends; and the said mortgagor hereby conatitutee and appoints the mortgagee or any agent or attorney of the
<br />mortgagee, the agent and attorney in fact of said mortgagor to make ouch t•ecitala and to execute said
<br />conveyance and heroby covenants and agrees that the recitals so made ahaU be effectual to bar all equity or
<br />right of redemption, homestead, dowse, and all other exemptions of the mortgagor, alt of whirh are hereh~
<br />expressly waived and ronveyrd io the mortgagee; or
<br />{tut take any other appropriate setiat pursuant to stair ur Federal statute either in atatr or Frdrral
<br />court or otherwii<r for the disposition o[ the property.
<br />In the event oC a sale se hereinbefore provided, the mortgagor or say petBOns ie poeseaeioa under the- mort•
<br />'gagor shall then become and be tenants holding aver and shall forthwith deliver possession to the purchaser at
<br />such sale or he summarily dispossessed, in accordance with the provisions of law applieahle to tenant+ holding ever.
<br />The power and agency hereby granted are coupled with an interest and are irrevarable by drath or uthrrwisr, and
<br />are granted as cumulative to the remedies for collection o[ said indebtedness provided by law.
<br />4. T7te proceeds of any Bale of said properly in accordance with the preceding paragraphs shall be applied first
<br />to pay the coete and ezpenaea of acid sale, the expenses incurred by the mortgagee for the purpose of p;otcetia~ or main-
<br />_ t#ning said property, and reasonable attotteya' fees; secondly, to pay the ittdrbtedttets secured hrrrl._v{ anal thir.lly,
<br />to-pay any surplus or excess to Ehe person ur persona legally entitled thereto.
<br />5. In the everts said property is sold at a judicial foreclosure sale or pursuant to the patwas of aa~ hereiaabteve
<br />granted, and the proeezda are not attl6cient to pay the total indebtedness secured by this instrument and evidenced by
<br />said promiasory• note, the mortgagee wilt be entitled to a deficiency judgment far rite amount of the deficiency tuiilwut
<br />~f
<br />re+gstrd to aCrpr•oiaement.
<br />6. In the event the mortgagor foils to pa?' any Federal, Mate, ur 1oe:t1 tea nssessmeut, inuonte tax ur utlter taz
<br />lien, charge, fee, or other expense charged against rite property the mortgagee is hereby authari:ed at his option to
<br />pay ilia satM, Any sums w paid 6y the mortgagee shall be added to and becottte a part of the prineipa! amount o[ tttc
<br />tgdebtednesa P.Yldent:ed by said f1otC, subject t0 the 68me tetttta and Conditions. If the mortgagor anal) pay and
<br />discharge the indehtedneaa evidenced by said promissory note, and shall pay such tuma and shall discharge aU
<br />taxes anti liana and the cwta, Case, and axpeneea of making, enforcing, and executing this mortgage, then this mortgage
<br />*hail he ranceled sad sut•rumdeced.
<br />l• 7'he coveuanu herein contaiged shall bind and the benefits and udtarrtagea shall inure lu thr rr.prt•tiue nut^-
<br />cewon sad aasigtat of the partioa hereto. Whenever used, the singular qumber shall include the plural, the plural the
<br />aiasttlar, and rho use of tm~ gegder ehaU include aU gegdera.
<br />8, No waiver of say covenant herein or u[ the obligation secured hereby shall at any tints Iherraftrr its held
<br />to be a waiver of the terms hereof or of the note secured hereby.
<br />4. A judicial decree, order, or judgment holding any provirion or portion of this iurtruntent itsvalid or uuon~
<br />forceable shalt not is any way impair or prochtde the enforesment of the remaining provisions or portions of this
<br />inetRllneat.
<br />It-, Any written notice to be issued to the mortgagor pursuant to the proviaicna of this iaatrumeat ehaFl be ad-
<br />dreesedtotM+morlgaRorat 379' North Walnut, Grand Island, NE 68801
<br />sad aqy written notice to be iaued to the mortgagee shall
<br />be rddreeaed to she mortgagee at 424 blest Third Street, Grand Island, NE 68801
<br />GFO uz~.z ~~
<br />SBA FARM 92e t2-731
<br />
|