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<br />3. The mortgagor covenants and agrees that if he shall fail to pa}- said indebtedness or an} part thereof when
<br />due, or shall fail to perform any covenantor agreement of Chia instrument or the promissory note secured hereby, the
<br />entire indebtedness hereby secured shall 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 />selLsaid property without appraiaement (the mortgagor having waived and assigned to the mortgagee all rights of
<br />appraisement)
<br />U) at judicial sale purovant [o the provisions of 28li 4.C. 2601 t a 1 : ur
<br />(tI) at the option of the mortgagee, either by auction or by solicitation oC sealed bide, for the highest and
<br />best bid complying with the terms of sale 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 no{ lase than otire
<br />during each of said four weeks in a newspaper published or distributed is the county is which said property
<br />is situated, all other notice being hereby waived by the mortgagor (and said mortgagee, or any person on
<br />behalf of said mortgages, may bid with the anpaid indebtedness evidenced by said note). Said sale shall be
<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 />property is located. The mortgagee is hereby auiltorized to ezecute for and on behalf of the mortgagor and to
<br />deliver to the purchaser at such sale a sufficient conveyance of said property, which conveyance shall contain
<br />recitals as to the happening of the default upon which the execution of she power of.sale herein granted
<br />a°---''-' --' the slid r ~ ''
<br />,.,,r~....a; ~uu nor-tgagor hereby cana~titutea an,r appoente, abe mortgagee or any agent or attorney of the
<br />mortgagee, the agent and attorney in fact of said mortgagor: Ito make such recitals and to execute said
<br />wnveyance and hereby covenants and agrees that the recitals eo made shall be effectual to bar all equity or
<br />right of redemption, homestead, dower, and all other~exemptions of the mo;rtgagoq all o,f which are hereh~
<br />ezpresaly waived and conveyed to the mortgagee; or.
<br />but take any other appropriate action pursuant to state or Federal statute Tither in ,rate ur Federal
<br />court or otherwise for the disposition of the property.
<br />In the event of a sale ae hereinbefore provided, the mortgagor ar any persons in poseeeeioa under the mort-
<br />gagor shall then become and be tenants holding over and shall forthwith deliver possession to the purchaser at
<br />such sale or be summarily dispossessed, in accordance with the provisions of law applicable to tenants holding Deer.
<br />The Dower and agency hereby granted arc coupled with as interest and are irrevocable b}- death or uthrrN'ise.::xul
<br />ors granted as cumulative to the remedies (or collection of said indehrsdness provided by law.
<br />4. The proceeds of any sale of said property in accordance with the preceding paragraphs shall be applied first
<br />to pay the costa and expenses o[ said sale, the expenses incurred by themortgagee for the purpose of protecting or maim
<br />tainiag said property, and reas~aable attorneys' fees; secondly, to pay the indebtedness secured heretic: and Chi%+Ilc.
<br />to pay any surplus or excess to the person or parsons legally entitled thereto.
<br />5. In the event said property is sold at a judicial foreclosure sale or pursuant to the power of sale hereinabove
<br />granted, and the proceeds are not sufficient to pay the total indebtedness secured by this instrument and evidenced by
<br />said promissory note, the mortgagee will be entitled to a deficiency judgment Cor the amount of the deficiency without
<br />regard to appraisement.
<br />6. In the event the mortgagor fails to pay any Federal, state, ur local tat assesameut, income tax ur other tai
<br />lion, charge, fee, or other expense charged against the property the mortgagee is hereby authorized at his option to
<br />pay the same. My sums so paid by the mortgagee shall be added to and become a part of the principal unount of the
<br />indebtedness evidenced by said note, subject to the same terms and conditions. If the mortgagor shall pay and
<br />discharge the indebtedness evidenced by said promissory note, and shell pay such soma and shall discharge all
<br />taxes and liens and the coots, fees, and expenses of making, enforcing, aad executing this mortgage, then this mortgage
<br />shall ha canceled and aurrtetttdered.
<br />7. The covenants hercia contained shall bind and the beaefils and advantages shall inure to the rYSpretive nur-
<br />ceeeon and assigns of the parties hereto. Whenever used, the singular number shall include [he plural, the plural the
<br />singular, and the Cue of any gander eha11 include. all genders.
<br />8. No waiver of any covenant herein or of the obligation assured hereby shall at :nil time therraller be held
<br />[o )k a waiver of the terms hereof or of the note secured hereby.
<br />9. A judicial decree, order, or judgment holding arty proviaiou or portion of this iustrunient inralid w~ ~~u~-
<br />forceable chat[ not in any way impair or preclude the enforcement of the remaining provisions or portions of this
<br />instrument.
<br />10: Any written notice to be issued to the mortgagor pursuant to the provisicae of this instrument shall be ad•
<br />dt~eeeed to the mortgagor at ~
<br />and any written notice to be issued to the mortgagee shall
<br />he addreeaed to the mortgagee at
<br />SBA FORM 326 t2.r3t
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