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~; ~ r, <br />~(~-- :.. ~ ~ 2 <br />- 3. The mortgagor covenants aad agrees that if he shalt tail to pay said indebtedness or any part thereof rltea <br />dne, or +hall fail to perform any covenanF or agreement of this instrument or the promissory note secured hereby, the <br />entire indebtedness hereby secured shall immediateh~ become due, payable, and colleeti6ie without noriee,.at-the; <br />opt of the mortgagce or assigns, regardless of maturity, and the mortgagee or his assigns may before or-afkr entry <br />seIl said property without appraisement (the mortgagor having waived and assigned to the mortgagee ail tiglru of <br />itp~raieementi: - - <br />- ! [) at judicial sale pursuant to the provieione ofd U.S.f.. ZOOI1,a) ; or <br />(U) at the optmn of the mortgagee, either by auction or by solicitation of sealed bida,'(or the Highest avd <br />beet bid complying with the terms of sak and manner of payment specified in the published aoti« of sak, 6rsi <br />giving four weeks' :.once of the time, term0. and plain of such sale, by advertisement not leas=tHan ones <br />during each of said four weeks in a newspaper published or distributed in the county in which said propeei~ <br />is situated, all other noti« 6eiag Hereby waived by the mortgagor (and said mortgagce, or aag.peraoa <br />behalf of said mortgagee, may bid with the unpaid indebtedness evidenced by said aotej. Said sak shall I±e <br />held at or on the property to be sold or at the Federal, county, or city conrthoux for the county in which the <br />property is located. The mortgage is hereby authorized to execute for and oa behalf of the mortgagor and to <br />deliver to the purchaser at such sale a sufficient conveyan« of said property, which eonveyan« shall rnataia <br />recilals as to the happening of the default upon which the execution of the power of sak Herein granted <br />depends; and the said mortgagor hereby conatitutea and appbinu the mortgage or any agent or attorney of the <br />mortgagee, the agent and attorney in fact of said mortgagor to make each mitak aad ta ezemle said <br />eonveyan« and hereby eovenanu and agrees that the recitals eo madt shall be effectaal to bar all equity or <br />right of redemption, homestead, dower, and ail other exemptions of the martgagoq all of which are hereby <br />expreedy waived and conveyed to the mortgagee; or <br />Fen) take any other appropriate-aztion pursuant-ta state or Federal statute either in state or Federa] <br />court or otherwise for the disposition aC the property._ <br />In the event o(a sale ae hereinabove provided, the mortgagbr or spy person in possession under the mortgagor shall <br />then became and be tenants holding.-over and shall Forthwith deliver possession to the purchaser at such sale or be <br />summarily diepoesessed, in aceordartce with the provisions of law applicable to tenanu holding over. The power <br />and agency hereby granted are coupled with as interest aad are irrevocable by death or otherwise, and are granted <br />as cumulative to the remedies-iereoelertien-of-asid-fictdtbtZdrtt~s"provided by law. <br />4. The proceeds otany sale of acid property in accordance with the pre«diog_psngnphs ahalI he applied fine <br />to pay the cuts and expenses ai-said`ealt, the expenses incurred $y the mortgagce for the purpose of protecting or maia• <br />wining said property, and reasonable attorneys' Fees,. aecandly, ta. phy. the indebtedaeae secured hereby: and thirdly, <br />m pay any surplus or excess. ta. the_ person or persons lettaliy entitled. thereto <br />S. Ia Lhe eveM'aald' property Ilt'~apid al a jadlCial eaYEeloeare sale' Or pttrsean[ ta' Lhe power of" sale hezeirtalwve <br />granted, aad the pzoceeds are not su®cient to pay the total indebtedner secured by this instrument and evidenced by <br />acid promiewry note, the mortgagee will be entitled to a deficiency judgment For the amount of the deficiency mirhae: <br />regard ro apprnisemenl. <br />6. In the event the mortgagor fails to pay any Federal, state, or local tax assessment, income tsz or other tax lien, <br />charge, fee, or other eapeoae charged against the property, the mortgagee is hereby authorized at his option ta pay <br />the same. Any soma eo paid by the mortgagce shall be added to and become a part of the principal amount of the <br />indebtedness evidenced by said note, subject to [he same terms and conditions. I[ the mortgagor shall pay and <br />discharge the indebtedness evidenced by said promissory note, and shall pay such sums and shall discharge all taxes <br />and liens and the cosu, Fero, and expenses o[ making, enforcing, and executing this mortgage, than this mortgage <br />shall be cart«led and surrendered. <br />7. The covenanu herein coatsined steal! bind and the benefits and advantages shall inure to the reapectfvc sac <br />oessoes and asefgas of t~ parties heroto. Whenever axd, the singular number shall include the ploea4 the plural the <br />aiegabut aad the era of say gender shall i~lude aA gettden. <br />A. 1Va waiver of any Covenant hernia or of the obiigatian secured hereby shall at any time thereafter be Geld <br />to be a waiver of the terms hereof or of the note secured hereby. <br />9. Iacompiisa« whit section IOI.1(d) of the Rnlee and Regulation of the Small Btuinsw Administration (I3 <br />C.R.R. IOI.Ild) ), this intrataent is to be cawltued and ea[oroad in accordance with applicabk Federal law. <br />tU. A jadicis! decree, order, or judgment holdeng any provision or portion of this instrument invalid or un• <br />emfoteeable shall sot in-any. way impair or preclude the enforcement of the remaining provisions or portions o[ <br />tHis tgatrupteal. <br />>e ~ <br />~ ems,,. sa: ts-st `.", <br />