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<br />3. The mortgagor covenants and agrees that if he shalt fail to pay said indebtedness or any part thereof when
<br />dt+e, or shall fail to perform any covenant or agrament of this instrument or the promiesorp note secured hereby, the,
<br />etNirr indebtedness hereby secured shall immediately became due, payable, and collectible without rwtice, at the
<br />option of the mortgagee or assigns, regardless of maturity, and the mortgagee or his assigns may before or after entry-~'
<br />eeH said proper[)' without appraieement (the mortgagor having waived and aseigfred to the mortgagee al} rights of _.
<br />appreisementl
<br />It) at judicial sale pursuant to the provisions of 28 U.S.C. 20011a); or
<br />(u) mt the option of the mortgagee, either by auction or by eolieintion of sealed bid~,•for the highest sad
<br />beat bid complying with the terms of axle and mamer of payment specified in the published notix of sale, fiM
<br />giving four weeks' notice of the time, terms, and place of such sale, by advertisement not lean thaw once -
<br />during each of said four weeks in a newspaper published or distributed in the wanly in which said property
<br />is-aitwted, all other notice being hereby waived by the mortgagor (and said mortgagee, of any perwn on
<br />behal[ of said mortgagee, may bid with the unpaid indebtedness eviden«d by said note j. Slid sale shall be
<br />held at or oo the property to be Bold or at the Federal, county, or city wurthouee for the wtmty is wbieh the
<br />property is located. The mortgagee is hereby authorized to execute for and on behalf of the mortgagor and to
<br />deliver to the purchaser at such Bale a sufficient conveyance of said property, which conveyance shall wnuin
<br />recitals as to the happening of the de[sult upon which the a:section of the power of sale herein granted
<br />depends; and the said mortgagor hereby conatitulea and appoints the morgagee or any agent or attorney of the
<br />mortgagee, the agent and attorney in tact of said mortgagor to make each recitals and to eaeeate said
<br />conveyance and hereby covenants and agrees that the recitals eo made shat] be effectual to bar ail equity or
<br />right of redemption, homestead, dower, and all other exemptions of the mortgagoq all of which are hereby
<br />expressly waived and conveyed to the mortgagee: or
<br />(tu) take any_other appropriate actiow purouant-to state or Federal statute either in state or Federal
<br />court or otherwise for the disposition of the property.
<br />in the event 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 shalt forthwith deliver possession. to the purchaser at such sale or be
<br />summarily dispossessed, in accordance with the provisions of law applicable to tenants holding over. The power
<br />sad agency hereby granted are coupled with an interest and are irrevocable by death or otherwise, and are granted
<br />as cumulative to the remedies for wilection of said indebtedness provided 6y law.
<br />0. The prooeede of any sale of said property in eceordance with the preceding paragnphe shall be applied fiat
<br />to pay the caste and expenses of said sale, the expetteea incurred by the mortgagee for the purpose of protecting or main•
<br />raining said property. and reasonable attomeas' tees; nernndly, to.pay ~thc iadebtedweas secured hereby: and thirdly,
<br />to pay any surplus or excess. to the_petwn or persons legally entitled thereto.
<br />5. In the event said property is sold at ^ jndicis! foreclosure nde or punwnt to the power of sale hereinabove
<br />grmted, and the proceeds are not sufficient to pay the total indebtedness secured 6y this instrument and evidenced by
<br />said promissory note, the mortgagee will be entitled to s deficiency judgment for the amount of the deficiency taithout
<br />regerrd ro appraiaemenr.
<br />6. In the event the mortgagor fai-s to pay any Federal, state, or local tax assessment, inwme tax or other tax lien,
<br />charge, ter, ur other expense charged against the property, thr, mortgagee is hereby authorized at his option to pay
<br />the same. Any sums ao paid by the mortgagee shall be added to and become a part of the principal amount of the
<br />iode6tedneae evidenced by said ,:nte, subject to the same ternta and tonditimrs. I[ the mortgagor shall pay and
<br />discharge the indebtedness evidenced by said promissory note, and shat! pay such sums and shall discharge all to:ea
<br />end liens and the costs, fees. and expenses of making, enforcing, and executing this mortgage, then this mortgage
<br />shell be caneekd and surrendered.
<br />I. The wvenanUt herein contained shall bind and the benefits sad advantage shall inure to the respective suc-
<br />oeaaen and aasipts of the parties hereto. Whenever used, the singu6r number shall include the plural, the plan! rho
<br />sisg)ttlar, and the ttse of say gender shall include all gender.
<br />8. No waiver of any covenant herein or of the obligation secured hereby shall at any time thereafter ire held
<br />l0 6e a waiver of the-terms hereof or of the note secured hereby.
<br />9. Ia compluaee with section lOl.l (d) of the Rules and Regulations of the Smdl Busiaus Admiaistntioe [ 13
<br />C.F.R. 101.1 (d) ), thin instrument is to be construed and enforced in accordura with applicable Federal law.
<br />-U. A judicial decree, order, or judgment holding any provision or portion of this instrument invalid or un-
<br />enforceable shall not in any way impair or preclude the enforcement o! the remaining proviaiom or portiotn o7
<br />this ittetrument.
<br />sew r... nor ta-rer ~„'~ .'., '.µ
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