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<br />- - 3.~ The mortgagor wvenante aad agree that if he shall fafi to pay said ittdebtedt[ess or any part'thenof wheal
<br />due, or shall iail to perform any covenant or agreement af.this instrument or the promissory note secnred hereby, tits
<br />eadre~ indebtedness hereby secured shaft immediately became dtze, payable, a»d colfeetibie without notice, at ths:-
<br />o~on of the mortgagee or asaigne, regardless of maeurity, and.~the mortgagee or his assigns may before or after entry
<br />self' said properly without appraiaement {the mortgagor having waived and assigned to the mortgagee all rights of=
<br />a~prafsement 1: '
<br />-- , Ul at judicial sale pursuant to the provisioneo(28 U.S.C..2(llilla); or
<br />(tt) at the option of the mortgagee, either by auaioa or by aoGeitabon of sealed bids,'for the bighea atad
<br />_ brat bid complying with the terms of safe and manner of paytneat specified in the pnblished notieeei sale, hest
<br />giving four weeks' notice of the time, terms, and place of such sale, by advertisement not less]han orate
<br />- during each o[ said lour weeks in a newspaper published or distributed in the county in which said proper`fy
<br />' is situated, all other notice being hereby waived by the mortgagor (and said mortgagee, er aey person.--~-
<br />behalt of said mortgagee, may bid with zhe unpaid indebtednem evidenced by said note). Said e.k shalt be
<br />held at or on the property to be sold or at the Federal, county, or city courthouse for the eaunty in which dx-
<br />property ie located. The mortgagee is hereby authorized io execute for and on behalf of the mortgagor and to
<br />deliver to the purchaser at such sale a sufficient conveyance of said properly, which conveyance shalt connin
<br />recital as to the happening of the default upon which .the execudorz of the power of oak herein gtaated
<br />depmde; sad the said mortgagor hereby eonstitutea and appbinta the mortgages or any agent or attorney of t)x
<br />mortgagee, the agent and attorney in fact of said mortgagor to make such recitab and to ezecnte acid
<br />conveyance and hereby roveaants and agrees that the recitals eo made shall be effectual to bar aft egaitp or
<br />right of redemption, homestead, dower, and all other exemptions of the mortgagor, all of which are hereby
<br />expressly waived and conveyed to the mortgagee; or
<br />(tn1 take any other appropriate action pursuant to state or Federal statute either in state or Federal
<br />coon or otherwise for the diapasition of the prepeny.
<br />in the event o(a sale as hereinabo ~ >d, the mortgagor or any person in possession under the mortgagor shall
<br />then become and be tenants h, Yth over - all forthwith deliver possession to the purchaser at such sale or be
<br />summarily dispossessed, in azrort~mtee."ivitbi'th rovisione of law applicable to tenants holding over. The power
<br />and agrncy hereby granted!~re coupled w~ art" i real and are irrevocable by death or otherwise, and are granted
<br />as cumulative to the remet~~ forredili~jgo ofgeai indebtednem provided by law.
<br />.,~~~d~c r.u. ~:
<br />. ` t"C: Dare -:
<br />4. The proceeds of soy eoY,aaid propertq~iu otdance with the preceding pangnpha shall lte applied fiat
<br />to pay the costa and eipeow~~~teehle; tlia_eipe incurred by the mortgagee for the purpose of protecting or main•
<br />twining said property. and rea attorney ' ees; secondly. to pay the indebtedness secured fiereby; and thirdly,
<br />to pay any aurpitts or excess to the r pereone-legsEly entitled thereto.
<br />5. In the event said property is cold at • judicial foreclosure Bale or pursuant to the power of sale hercinabove
<br />granted, and-the proceeds arc not suffieieat 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 for the amount of the deficiency without
<br />regard to appraisement.
<br />6. [n the event the mortgagor fai4 to pay any Federal, state, or local tax aseeaemen4 incomr. tax or other tax lien,
<br />charge, fee, or other expense charged against the property, the mortgagee is hereby authorized at hie option to pay
<br />the name. Any sums so paid by the mortgagee shall he added to and become a part of the principal amount o[ the
<br />indebtedness evidenced by said note, subject to the sumo terms and conditions. If the mortgagor shall pay aad
<br />dixharge the indebtedness evidca<ed by said promissory note, and shall pay such sums and shall discharge all taxes
<br />and liens and the coots, fees, and expenses of making, enforcing, and executing this mortgage, then this mortgage
<br />shalt fx canceled andeurrcndered.
<br />7. The covenants herein contained shall bind and the benefits and advannges shall inure to the respective suc-
<br />oaron-and aseigtu of the parties hereto. Whenever used, the singular number ehaU include the plural, the plant the
<br />aiagnlar, sent the uas of any gander shell inefade elf gmndetb.
<br />g. No waiver of any covenant herein or of the obtigatimt secured hereby eha11 at any time thereafter be held
<br />to be•a waiver of the terms hereo[ oc of the note etxured hereby.
<br />9. In compliance with section I01.1(d) of the Rules and Regulations of the Small Business Administration [13
<br />C.F.R. 18I.2(d) ),.this iastitimaat is to be construed and enforced in accordance with appficable Fedenl law.
<br />kU. A judicial decree, ardor, or judgment holding any provision or portion of this instrument invalid or un-
<br />ewforeeable shall not in say way impair or preclude the enforcemem of the remaining provisions or portions of
<br />this inutrument.
<br />eta rcr~ ar ii-rii ,. ," . •,
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