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<br />3. The mortgagor covenants and agrees that if be shall fail to pay said indebtedneae or any part thereof when
<br />dye, or shalt fail to perform any covenant or agreement of thin instrument or the promissory nou aeevred hereby, the
<br />entire indebtedness hereby secured shall immediately become due, payable, and .-ollectible 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 />eeN raid property without appraisement (the mortgagor having waived and assigned to the mortgagee all rights of
<br />apprai•emenU
<br />I t) at judicial sale pursuant [n the provisions of 2g U.J.C. 2001 (a) : or
<br />(u) at the option of the mortgagee, either by auction or by eolieitatioa of aeakd bid•,~[or the hfghert sad
<br />beet bid rnmplying with the terms of erle and moaner of payment specified in the published notice oP sak, firt
<br />giving Four weeks' notice of the time, terms, and place of such Bale, by advertisement not less than once
<br />during each of said four weeks in a newspaper published or distributed in the county in which said property
<br />u aitwted, all other notice being hereby waived by the mortgagor (sad said mortgagee, or any penoo on
<br />behalf of said mortgagee, may bid with the unpaid indebudneee evidenced by said nou). Said sale shall 6e
<br />held at or on the property to be Bold or at the Federal, county, or city courthouse for the rnunty in which 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 sale a sufficient conveyance of said property, which cooveyanee shall contain
<br />recitals a• to the happening of the default upon which the execution of the power of sale herein granted
<br />depends; and the raid mortgagor hereby conatituten and appoints the mortgagee or ar_y agent or attorney of the
<br />mortgagee, the agent and attorney in (act o[ said mortgagor to make such recitals sad to ezeeuu said
<br />conveyance and hereby covenants and agrees that the recitals so made shall be eHeetual to bar all equity or
<br />right of redemption, homestead, dower, and all other exemptions of the mortgagor, all oI which are hereby
<br />expressly waived and conveyed .to the mortgagee; or
<br />tut) take any other appropriate action pursuant 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 hercinabove provided, the mortgagor or any person in poaeeaeion under the mortgagor shall
<br />then become and be tenants holding over and shall forthwith deliver possession to the purchaser at such sale or be
<br />summarily diepoeaeeaed, in accordance with the provisions of law applicable to tenants holding over. The power
<br />and agency hereby granted are coupled with an interest and are irrevocable by death or otherwise, and are granted
<br />ae cumulative to the remedies for collection of said indebtedness provided by law.
<br />4. The proceeds of my sak of uid property in accordance with the preceding paragraphs shall be sppGed first
<br />to pay the coats and ezpenaes of said safe, the ezpeneea incurred by the mortgagee for the pnrpoae of protecting ar main•
<br />twining said property, and reasonable attorneys' fors: secondly, to pay the indebtedness secured hereby; and thirdly,
<br />to pay any surplus or excess to the person or persons legally entitled thereto.
<br />5. Ice the event acid property ie sold at ^ judicial foreclosure sale or pursuant to the power of sale hereinabove
<br />granted, and the procecde arc not eu(fieient to pay the total indebtednem secured by this inttnrment and evidenced by
<br />said promissory note, the mortgagee will be entitled to n deficiency judgment for the amount of the deficiency without
<br />regard to appraiaement.
<br />6. fn the Brent the mortgagor fails to pay any Federal, state, or local tax assessment. income tax or other tax lien,
<br />charge, fee, or other expense chargers against the property, the mortgagee is hereby authorized at his option to pay
<br />the same. Any some eo paid by ti:a mortgagee shall be added to and become a part of the principal amount of the
<br />indebtedness evidenced by said note, eubjec! ro the 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 />end liens end the costs, [ees,-and expenses of making, enforcing, and executing this mortgage, then this rnortgage
<br />shall be canceled and surrendered.
<br />7. The covenants herein contained shall bind and the benefits and advantages shall inure to the respective sur
<br />t»rop and assign. of the parties hereto. Whenever used, the aiagular number ehdl include the plural, the plural the
<br />ainguhtr, and the ve of say gender shall include off genders.
<br />8. No waiver of any covenant herein or of the obligation secured hereby shall at any time thereafur he held
<br />to be a waiver of the terms hereof or of the note secured hereby.
<br />9. Ice compliance with eeetion 101.1 fd) of the Ruiee sad Regu{atiam of the 5ma11 Bu•iaeee Administrrtion [13
<br />C.F.R, 10L1(d)j, tha instrument ie to be construed and enforced in rccordraa with spplieabk Federal law.
<br />IU. 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 of the remaining provisions or portions of
<br />this instrument.
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