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<br />- 3.-The mortgagor covenants and agrees that if be shall fait to pay acid. indebtedness or any part thereof when
<br />dtte: or shall tail to perform any covenant or agreement of this inatrumem orthepromiaeory note eecnred hereby, the ,
<br />~tire~indebtedneee hereby secured shall immediately become due, payable, and collectible without notiue,~aYthe
<br />tiptioa of the mortgagee or assigns, regardless of maturity. and ills mortgagee or his assigns map before or after entry
<br />sell said property without appraisement (the mortgagor having waived and assipted to the mortgagee all rights of _
<br />a~pnieemeot) : -
<br />i t 1 at judicia: sale pursuant to the provisions of 28 U.S.C. 2001(a) ; or ..
<br />{u) at the option of the mortgagee, either by auction or by solicitation of eeakd bidyfot the higLhtated
<br />beat bid wmplying whit the terms of sale and manner of payment specified in the published notice ttf aide. 6t~
<br />giving tour weeks' notice of the time, terms, and place of such sale, by advertisement not less tttitn ones ~,
<br />during each of said four weeks in a newspaper published or distributed in the county in which said propertq _
<br />is eiueated, all other trotiee being hereby waived by the mortgagor (sad acid mortgagee, or any ptation ~
<br />behall of said mortgagee, map bid with the unpaid indebtedneee evidenced by said note). Said sale pball be
<br />held at or an the property to >x sold or at the~Federal, county, or city courthouse for the county in which the ~:
<br />property is iocaced. The mortgagee ie hereby authorized to execute for and oa behalf of [he mortgagor-and to
<br />deliver to the purchaser at such Bale a eulficient conveyance of said property, which conveyance shell contain
<br />rxitale ss to the happening of the default upon which the execution of the power of Bale herein gnnad
<br />depends: and the said mortgagor hereby eonatitutea and appoints the mortgagee or any agent or attorney o[ the
<br />mortgagee, the agent sad attorney is fact of said mortgagor to make such recitals sad to execute said
<br />eonvevanoe and hereby covenants and agrees that the recitals so made shall be effectual to bar all equity 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 />~ ut 1 take any other appropriate action pursuant to state or Federal statute either in state or Federal
<br />court or otherwise for the disposition oC the property.
<br />in the event o(a sale es hereinabove provided, the mortgagor or any person in poaseaeion under the mortgagor shall
<br />then become and be tenants holding over and shall forthwith deliver possession to the purchaser ai such sale of be
<br />summarily dispoexsaed, 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 rcmediea for collection of said indebtedness provided by Iew,
<br />4. The proceeds of any sale of said property in aceordmce with the preceding psragnphs shall be applied fine
<br />to pay the casts sad-expettsea of said sale, the expenxa incurred by the mortgagee for the purpose of proteMing or main•
<br />raining said property, and reasonable attorneys' fees: secondly, [o pay the indebtedness secured hereby: and thirdly.
<br />to pay any surplus or excess to the person or persona legally entitled thereto.
<br />5. In the event esid property is sold~at a judicial foreclosure Bale or pursuant to the power of Bale hereinabove
<br />granted, and the proceeds arc not eu~cient to pay the total indebtedness secured by thin instrument and evidenced by
<br />acid promissory note, the mortgagee will be entitled to n deficiency judgment (or the amount of the dejtcieneywithout
<br />regard to approiaement.
<br />o. In the event the mortgagor (ails to pay any Federal, state, or local tax aseeaamen4 income tax or other tax lien,
<br />charge, lee, or other expense charged against the property, the mortgagee is hereby authorized a[ his option to pay
<br />the same. Any soma so paid by the mortgagee shall be added to and become a part of the principal amount of the
<br />iadebtedneae evidenced by said note, subject to the acme terms and conditions. Ii the mortgagor shall pay and
<br />discharge the indebtedness evidenced by said promissory note, and shall pay ouch sums and shall discharge all taxes
<br />and liens and rho costa, fees, and expenses of making, enforcing, and executing this mortgage, then this mortgage
<br />shall be canceled and surrendered.
<br />i. The covenants herein contained shall bind and the benefits and advantages shall inure to the respective euc-
<br />caaon and assigns of the parties hereto. Whenever need, the singular number shall include the plural, the plunl the
<br />eingelar, and the use of any gender shall include all genders.
<br />g. No waiver of any covenant herein or of the obligation secured hereby shell at any time thereafter bt bold
<br />to be a waiver of the terms hereof or of the note secured herebv.
<br />9. Ineompliancetvitheectionl0L1(d)oftheRufeeand Regulations of the Smell Buurtees Administration [13
<br />C.RR. 1011(d) ], this inatrummt is to be cooatrucd and enforced in aecordanoe with applicable Federal law.
<br />10. A judicial decree, order, or judgment holding any provision or portion o[ this inatrumenl invalid or un•
<br />enlorceable shall nal in any way impair or preclude the enforcement of the remaining provisions or portions of
<br />this instroment.
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