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<br />3. The mortgagor covenants and agrees that if he shall fail to pay aaid indebtednem or any part thereof when
<br />dne, or shall fail to perform any covenant or agreement of this instrument or the promissory note secured hereby, the
<br />etnire indebtedness hereby secured ahaA 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 assigns may before or after entry
<br />sell said property withont appraisement (the mortgagor having waived and assigned to the mortgagee all rights of
<br />appntisement 1
<br />(tl at judicial sale pursuant to the provisions o(28 U.S.C,. 2(101 (a): or
<br />(t[) at the option of the mortgagee, either by auction or by eoliciudon of eeakd bida,Yor the highest and
<br />beet bid complying with the terms of Bale and manner of payment specified in the published notice of sale, first
<br />giving four weeks' notice of the time, terms, and place of such sale, by advertisement not lees tbaa once
<br />during each of said four weeks in a newspaper published or distributed in the county in which aaid property
<br />ie situated, all other notice being hereby waived by the mortgagor (and said mortgagee, or any peeaon on
<br />behalf of said mortgagee, may bid with the mpaid indebudnees evidenced by aaid note). 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 whie6 tba
<br />property u located. The mortgagee is hereby authorised to execute for and on behalf of the mortgagor sad to
<br />deliver to the purchaser at each sale a sufficient conveyance of aaid property, which conveyance shall MaLm
<br />reciuL u to else happening of the default upon which the ezecution of the power of sale heroin granted
<br />depends; and the srid mortgagor hereby rnnetitutes and appoints the mortgagee or any agent or attoroey of the
<br />mortgagee, the agent and attoroey is fact of aaid mortgagor to make snch reciuls and to exeettte said
<br />conveyance and hereby coveoavta and agrees that the rceiub so made eball be eficetnal to bar all equity or
<br />right of redemption, homestead, dower, and all othec exemptions of the mortgagor, all of which are hereby
<br />expressly waived and conveyed to the mortgagce; or
<br />(ut) take any other appropriate action pursuant to state or Federal statute either in state or Federal
<br />court or oeherwix Ior the disposition of the property.
<br />In the evens of a sale as hereinabove provided, the mortgagor or any person in possession under the mortgagor shall
<br />then become and be tenants holding over and shall forthwith deliver possession to the purchaser at such sale or be
<br />summarily dieposeessed, in accordance with the provisions of saw applicable to tenants holding over. The power
<br />and agency hereby granted are coupled with an interest and arc irrevocable by death or otherwise, and are granted
<br />a• cumulative to the remediee for collection of said indebtedness provided by law.
<br />4. The proceeds of any ale of aaid property iv aceordance with the preceding pangnpfu shall be applied lust
<br />to pay the casts and rzpemes of said axle, the expenses incurred by the mortgagee for the pntpoae of protecting or maio-
<br />wining said proprrtv. and reasonable attorneys' [ere; secondly, to pay the indebtedness secured hereby; and thirdly,
<br />to pay any surplu. or ezeesa to the person or persons legally entitled thereto.
<br />5. L the event rid sraputy ~ sold :s a judieia) foreelwurc ale or pursuant to the power oP saht hereieabove
<br />granted, and the prooeeds arc not sulkietat to pay the tool indebtedner secured br toss instrument sad erideneei by
<br />aaid promissory nWe+ thv serigagee will be entitled tv + deficiency judgment for the asaouot of the dejiarerscy wsiNsastt
<br />regard to ytpreisawast.
<br />6. In the event the mortgagor fait to pay any Federal, state, or Iceal tax assessment, income tax or other tax lien,
<br />charge, frr, or other rzprtwr charged agrttnt the property, the mortgagee ie herebv authoAaed at his opliwt W pay
<br />the rime. Any sums so paid by the mortgagee shall be added to aed 6eeome a part of the principal amount of the
<br />indebtedness rvidenoed by said note, subject to the same terms and ronditimts. li tor, mortgagor shall pry and
<br />discharge the indebtednes evidenced by wid prmuiarory note, and shall pay such sums and shall discharge all axes
<br />and lien and the cores, team, utd rxpensev of making, en(orciug, and executing this mortgage, than this mortgage
<br />shall be uaceled aml surrendered.
<br />7. 7'he tnvenanu herein covuined shall bind sad the beaefitr and advaatage+shsll inure to the respective sus
<br />osaaora sad assigtss a! the parties hereto. tDheaver used, the singular number sball iaclnde the plural, the plunl the
<br />aiaptlar, and the use of any gender shall ittelude all gaoden,
<br />8. No wsirer of any eovadant heroin or ,d' ells obligation secured hereby shall al soy lime dtrreafler fie held
<br />b be a waiver of the teraas Iteraoi or o< the note aecurad hereby.
<br />9. la wmpiiaace xith sectim 101.11 d) at the Kula and Regulatiow of the mull Bttsiaws Administration (1J
<br />C.F.R. 161.1 fd11. this instrument is to fie construed sad enforced in accordance with applicable Fedenl law.
<br />IU. A judicia! decree, order, or judgment holding any provision or portion of thu instrunvenl invalid or uu•
<br />enforceable shall not in any way impair or preclude the co(orcemeal of the remaining provisions or portiotla of
<br />this instrument.
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