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<br />3. The mortgagor covenants and agrees that if he shall fail to pay said indebtedness or an} part thereof when f
<br />due, or shall fail to perform any covenant or agreement of thistnseramenx or the promissory note secured hereby, the f
<br />entire indebtedness hereby secured shall immediately beeomr doe, payable, and collectible without notice, at the
<br />option of the mortgagee or aasign0. regardless of matntity, and-the mortgagee or his assigns may before or after entn'
<br />ettll said property without appraieement Ithe mortgagor having waived and assigned to the mortgagee all rights of
<br />agpraisement)
<br />~ t ~ at judicial sale uursnant to the provisions of 'l8 U.5.G. 2001 1 a v : ur
<br />(u) at the option of the mortgagee, either by auction or by solicitation of sealed bide, far the highest and
<br />best bid complying with the terms of salt and manner of payment specified in the published notice of Bale, first
<br />giving four weeks' notice of the time, ternts, and place of such sale, by advrrtisemen[ not less than once
<br />during each of said four weeks in a newspaper published or dietribnted in the county in which aid property
<br />ie situated, all other notice being hereby waived by the mortgagor (and aid mortgagee, or any person tm
<br />bhhalf of said mortgagee, may bid with the unpaid indebtedness evidenced by said motel. Said sak shall be
<br />held at or on the property to be sold or at the Federal, rnunty, or city courthouse for the county in which the
<br />property is located. The mortgagee ie hereby authorised to execute for and on behalf of the mortgagor and to
<br />deliver to the purchaser at such sak a sufficient conveyance of said property, which conveyance shall Contain
<br />recitals as to the happening of the default upoe which the execution of the power of sale herein grouted
<br />depends; and the aaid mortgagor hereby corutitutea and appoints the mortgagee or any agent or atWrner of the
<br />mortgagee, the agent and attorney in fact of aaid mortgsgor to make such reeitah a>¢d to execute aid
<br />conveyantx and hereby covenants and agrees that the recitals so made shall be e$ectnal to bar alt equity or
<br />right of redemption, homestead, dower, and all other exemptions of the mortgagor, all of which are hereby
<br />expressly waived and rom•eyed to the mortgagee: or
<br />utu take any other apuropriate action yursuant to state or b'rderal statute either ilr Mate ur M•edrral
<br />court or otherwise for the disposition of the proprrts.
<br />In the event of a sale as hereinbefore provided, the mortgagor or any perwns in possession under the morn
<br />gagor shall then become and be tenants holding over and shall Forthwith deliver possession to the purchaser at
<br />each sale or be summarily diaposseseed, in accordance with the provisions of law applicable to tenants holdinµ over.
<br />The power and agency hereby granted are coupled with an interest and art irrevocable he death or othrrwise,:uul
<br />are granted as cumulative to the remedies for collection of said indebtedness provided by Iaw.
<br />4. Tht proceeds Qf -any sti14 ot~id'p,~q~ltty in accordance with this preceding paragraphs shall be applied first
<br />to pay the costa and etpenses of said ale, the expeeses incurred hp the mortgagee for the purpoa of protecting or main•
<br />twining said property, and reasonable attorneys' fees; secondly, to pay the iudrbtednrss secured hrrel:~ : and thirdly,
<br />to pay any surplus or excess to the person or persons legsliy entitled thereto.
<br />~. In the event aid property is sold at a judicial foroelosure ak or pursuant to the power of sale hereiarbove
<br />granted, and the proceeds are not autfieient to pay the iota} indebtednew secured by this irutrument and evidenced by
<br />aid promiswry note, the mortgagee will be entitled to a deficiency judgment for the amount of the defciency uuthotst
<br />rogsud to appraisement.
<br />6. In the event the mortgagor fails to pay any Federal, state, er local ta• assessnteot, income tax ur utlter lay
<br />lien, charge, ere, ur other a:pence charged agaiwt the property the mortgagee is hereby authorised at his option to
<br />pay the same. Any sums su paid by the mortgagee shall be added to and become a pan of dle principal auwunt nl the
<br />indebtedner evidenced by said note, subject to the same terttu and conditions. If the mortgagor shall pay and
<br />discharge Cho indebtedness evidenced by said promiswry note, and shall pay such sums and shall diachrrge ail
<br />taxes and liana and the oosu, fees, and expettaea of making, enforcing, and executing Chia mortgage. rhea this mortgage
<br />.hall be canceled and surraadered,
<br />7. The covenanu herein contained shall bind sad the benefits sad advantages shrtl iuurc to the respectivr sur-
<br />easson and assigns of the parties hereto. ~thenever used, the singulu number shall inslnde the plural, the plural ehc
<br />ehagtshu, and the ua of say grader shat! inCtade all genders.
<br />lt, Na waiver of any wreaant herein or of the obligation securrJ hereby .hall ut any time therraltrr I,r held
<br />to be r waiver of the terms hereet or of the note secured hereby.
<br />9. A judicial decret, ardeq or judgment Iwlding any provdsion ur puttiuu uI this utsumuCat invalid ur uu/u•
<br />foreaable shall not in any way impair or preelade the enforcement of the remaining provisions nr portions nt this
<br />itsstrusamt.
<br />tQ, Any written nWice to fie tuned a the mortgagor pursuant to the provisiow of thistnstrument shall be ad-
<br />draued to for asortgattorat
<br />and my wriUaa notice to lse trued to the mortgagee shall
<br />ba addressed to the rortgagee at
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