|
<br />,~_. '~'
<br />3. The mortgagor covenants and agrees that if he shall fail to pay said indebtedness ur au} part thereof when
<br />due, orahall £ail to perform any rnvenant or agreement of this instrument or the promissory note secured hereby, the
<br />entire indebtedness hereby secured shall immediately become due, pa}'able, and collectible without notice, at the
<br />option of the mortgagee or assigns, regardless of maturity, and the mortgagee or his assigns mad before or after entry
<br />sell- said property without appraiaement 1 the mortgagor having waived and assigned to the mortgagee all rights of
<br />appraixmeatl
<br />U) at judicial sale pursuant to the provisions of 28 L?.S.l:. 2001 ~ a ~ ; ur
<br />(it) at the option of the mortgagee, either by auction or by solicitation of sealed bids, for the highest and
<br />beet bid complying with the terms of x}e and maaaer of payment specified in the published notice of sale, first
<br />giving four wceka' notice of the time, terns and place of such sale, M ad.rrtiaement trot le+~ than once
<br />during each of said four weeks in a newspaper published or distributed in the counts in which said property
<br />is situated, all other notice being hereby waived by the mortgagor (and said mortgagee, or any person on
<br />behaH of acid mortgagee, may hid with the unpaid indebtedness evidenced by said note}, laid aalc shall be
<br />held at er oa the propcrtv to be sold or at the Federal, rnunty, or city courthouse for the counts in which the
<br />property is lasted. The mortgagee %s hereby authorized to execute for and on behalf of the mortgagor and to
<br />deliver to the pnrehsser at such sale a sufSeient eonyecance o[ said property, which rnnveyantt shall contain
<br />ta~tala ab U the happening of the default upon which the execution of the power of sale herein granted
<br />deptnds; sad the said mortgagor hereby constitutes sad appoinu the mortgagee or any agent or attorney of the
<br />mortgabee the agent and attorney in fact of said mortgagor to make each recitals aml to execute said
<br />co>:vevanoe and hereby covenants and agrees that the recitals so made shall be e$eciual to bar all equity or
<br />right of redemption, homestead, dower, and all other exemptions o[ the mortgar;or. all of which are hereh}
<br />ezptessly waived and convestd fa the mort¢a~e; or
<br />arut take say other appropriate aMion pursumt to state or !'•ederal statute Tither iu stair ur hr,lrral
<br />co>gt ar ttther'srise for the dispoation of the propert:.
<br />Irt the event of a sob: as hereinbefare provided, the mortgagor nr anc persons in poeseesion under the mort
<br />gager shall then become awl be tenants holding over sad shall forthwith :!sliver po,~ession to the purchaser at
<br />sum sale or be summarily dispoeaeased, in accordance with the provisions of law applicable to tenants holding Dyer.
<br />The power sad ageac}' belch}' granted are coupled with art interest and are irreyoraE~e h~ rieath or uther~~ise, sad
<br />are granted as asrmsdative to the rmedies for collection of said indebtedness proyirled ~ v la...
<br />s :y' • '
<br />~.` o.:# try
<br />•. The proceeds of say sale o? sii$ Pa'~!' is secordaaoe with t}c preceding paragraphs shall he applied fiat
<br />to pap the oossa sad a=pmaea ~ sad sale: the espmw incurred by the mortgagee for thz purpose oI proteetirig ormain-
<br />taiaiaF. Paid property, sad reastlaable ariarneys fees; aeeondh, to pa} the indrbtrdaess secure+l hr~ eh1 : amyl thirvll..
<br />io pay aay~s~s ar eaeer !o the pemtoe or perseer 3ettaUc eatitkd thereto.
<br />i, L the sisal said propert}' i! sold at a jndieial foreclosure ask os pursuant to the power of ask hereinabove
<br />graaTCd, aasd die pt~eeds are sot sttfliricat to pay the rata! indebtedne~ secured by thin instrument and evideoced by
<br />said ptvsairnr}• salts, the mortgagee will 1>G entitled io a deficieelcy judgment far the amount of 'he dejicierttY uuthout
<br />+~j tw ~taisersewt.
<br />6 ie lire eveei the asnrtgagor tails to pay sa} Federal, state, ut lac+l tan a~,arasrneut, inrontr tax or other tam
<br />liar,. rlrrge, fee, ar other expaare ebargod agaieat the property the morfgagre i. hereb} autlmrised at his option to
<br />pay tthee saga, !ley seem r paid by the mortgagee shall be added to and Etecome a part ut the principal amount of the
<br />was ewideeoed lri sail sate, subject to tfe same Eerals and coaditians. if !hc marlgagor shall pay and
<br />> ~ ia~daew exsdereed by acid prmsiwory note, sad shalt pay such soma and sha13 discharge all
<br />ttratta anti rises aid the Basta, (ass. ~d of ">~ eaforc%ag, and r:ee.,r~ns this mortgage, then this mortgage
<br />.tai! its tiiatpeied sari wtretideced.
<br />~ 't'its eaatasattNs i aartaiaod sits!! limed :tad the heaefiis and adaantattea algal! inure to i}er resprctitr suc-
<br />oeetras art a4 die partis lasses. ~iaeever asod. the siagulu number shalt include the plural, the pt»n1 the
<br />sad tin urn at aey f!~ Ii6aII iadade aD ft'~ers-
<br />~ !Ifs raaixat ~ say aaxe~aaait berai_a or ati tin obligation assured hereby .lash at an, tune titerralter lIr hehl
<br />m lab a wais# a3 the teraa beetmf ss of the sore secatrad hereby.
<br />+R A jedief:i dosses, ae+des, ar jadrteat heldtng any proxitaim or portion of this in.trtuumt in.alid ur eutut•
<br />fd.taaaiia rrt ~ say say irpair ar psixlatk t}u eslforcemeaf of the remaining pros:siorls or 1wrtluns o[ 11,16
<br />~ ~ rstieeest nat}+te a be iasited # ttbe sertp`or pursuant to the provistit:m a[ this instrument shall bs ad•
<br />it+ewi,ertftrairatwittterst 281U $, Aigh~y 30, Brand Island, ?il; 621801
<br />sad say written notice to be issued to the mortga2tet shalt
<br />lraadiraraadistiaatst 1'.t>. Rox 15u7, urand Island, ":~ t7:+8C}1
<br />talk rryp~ aZa it-fat
<br />
|