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3. The mortgagor covenants sad agrees that if lse shall fail to par acid iadebtedneee or soy part thereof wbm
<br />due. or shall fail to perform any covenant or agreement of thes inatrumettt or the promfasory note secured hereby, the
<br />eaf[as indebtedness hereby secured shall immediately become due, payable, and eolleetibk w-ithtmi notfce, at the
<br />op6iou of the mortgagee or assigns, regardless of maturity, aad the mortgagee or his assigns may before or after entry
<br />sell: said properiy~ without appraieement 1 the mortgagor having waived and assigned to the mortgagee all rights of
<br />appwisement)
<br />! t 1 at judicial Bale pursuant to the provisions of 28 U.S.f 2001 i a) ; or -
<br />(tt) at the option of the mortgagee, either by auction or by solicitation of aeakd bids,'forYlte bia6eat soil
<br />-best bid ~mplyiug with the terms of Bale and roamer of payment specified in ilte published notice of ask,lf~-
<br />giving four weeks' notice of the lime, terms, and place of such sale, br advertisement not leas thae once -
<br />during each of said four weeks in a newspaper published or distributed in the county in which said property
<br />~ is aitueted, all other notice being hereby waived by the mortgagor (and said mortgage, ar soy petmn on.,.
<br />r^~ behalf of said morcgagee, may bid with the unpaid indebtedness evidenced by said note). Said sak eball be-
<br />~y held at ar an the property to be sand a: at the F,xderal, rounty, or city rnurthotate for thr county in w'n}cL theme -
<br />_ property u located. The mortgagee is hereby authorized to execute for soil on behalf of the mortgagor aad to
<br />~ deliver to She purchaser at such sale a enf6cient conveyance of said property, which eoaveyatte stall rnatain
<br />'` reeitaL u to the happening of the default upon which the ezecution of the {rower of eak herein granted
<br />r~ de a; and the said mort a or hereb constitutes and • ointe the wort ce or an a ent or attorn oI the
<br />P~ B 6 7 PP 6aB y 6 ~'
<br />0 mortgagee, the agent and attorney in fact of said mortgagor to ma-e each reeitaU and io s:eente said
<br />conveyance and hereby covenants and agrees that the recitals eo made shill be eHeetual So bar all etryity or
<br />right of redemption, homestead. dower, and all other rxemptions of the mortgagor, al! of which are hereby
<br />ezpremly waived and conveyed !o the mortgagee; or
<br />htt! take any other appropriate action pursuant to state or Federal statute either in state or Federal
<br />court ar otherwise for-iha disposition of the property.
<br />In the event of a sale as hereinabove provided, the mortgagor or any peraan in poaeeseion under the mortgagor shall
<br />then become and fie tenants holding over and shall forthwith deliver posaew4ian to the purchaser at such xals ar be
<br />summarily dispossessed, in accordance with the provisions of law applicable to Irnants holding aver. The power
<br />and agency hereby granted are coupled with an interest and are irrrvorabls by death ar aihe-r+vise, and ors granted
<br />as cumulative to the remedies far collection o[ said indebtedness provided by law.
<br />4. The proceeds of any uk of acid prapercv in aseardance with the preceding paragraphs stall fie applkd first
<br />to pay the costa aad czpemra of said sale, the expenses incurred by the mortgagee for the purpose of protecting or main-
<br />ttining said property, and rsaeonable atlarnev: fees: seeandly, to pay the indcbtedne~ -..~ror?l herPfn: and thirdly,
<br />to pay any surplus or caeca to the perwn or persons legally entitled therNo. -
<br />5. In the evens acid property is wid at a judicial foreclosure sale or punwot to the power of eak hersinabove
<br />granted, and the proceeds are not sudteicnt to pay the total indebtedness secured by this instrument and evidenced by
<br />aid promirory note, the mortgage wilt be entitled to x deficiency judgment for the at»oum of the de(ecieacy tvithaet
<br />regsud ro appraiaemertt.
<br />tl. In the event the morigattor fails to pay any Federal, »tate, or local tax aseeaemen4 inewnr tan or other tax lien,
<br />chugs, fee, or other eapense charged against the properh', the mortgagee i» hereby authorized at his option to pay
<br />the same. Any suttta stt paid by the mortgagee shall be added to and Itecome a part of the principal amount of the
<br />indebtedness evidenced by raid note, subject to the »ame teens and roodition». 1( the mart~egar shall pay and
<br />dixharge the indebtedness evidenced by said prorni»sory note, and shall pay such »wns and shall dischargr. all taxes
<br />and Irene and the costa, tees, and eapuuea of making, enforcing, and executing this mortgage, then this mortgage
<br />shaft be canceled aad surrendered.
<br />7. The covenants herein contained shall bind and the benefits and advantages shall inure to the respective we-
<br />txaaon aad assigru of tba parties hereto, w heoever used, the singular ntrtaber shalt ittclade she plural, the plural the
<br />alatgular, sp$ i~ use of soy grader shalt iaelnde all gendsn.
<br />g. No waivm of any covenant herein or of the obligation xcured hereby shall et guy time thereafter fie held
<br />to fie a waiver of the terrns troreof or of the nuts secured hereby.
<br />4. In comp}isoce with section }O1.1/d) of the Rules and Regulatioro of the Small $ueinsea Adminwtrrtiao j13
<br />C.B.R. 19}.}{d) J, this irwrumeat is to !x cortstrtred and entarced in accordance with applicable Federal taw.
<br />}f- A judicial decree, ordeq ar judgment holding any provision or portion of this imtrument invalid or urt•
<br />eaferseabk shall not is any way impair or preclude the enlorcanent of the remaining provision. or portions of
<br />tbu instrument.
<br />San r~.,s 9]t I.Ltat
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