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<br />- 3. The mortgagor eovenanta and agrees that if he shall fail b pay said indebtedness or any part thereof whep
<br />dttq or shall tail to perform any covenant or agreement of this instrument or the promissory Hate aecnred herehy,,th'e
<br />ett[fre indebtedness hereby secured shall immediately beeomt due, parable, and collectible withont tmiice: a~.t
<br />motion of the mortgagee or assigns, regardless of maturity, and the mortgagee or his assigns may before or after ent`ry'
<br />sell-said property without appraiaement (the mortgagor having waived and assigned to the mortgagee aft rights of
<br />ttppsaisement)
<br />1t. at judicial sale pursuant to the provisions of 28 U.S.C. 20011a); or
<br />(u) at the option of the mortgagee, either by auction or by solicitation of eeskd bids,~for the highest sail
<br />hest bid complying with the terms of Bale sad manner of payment specified in ilte published notite.of ask, flits
<br />giving four weeks notice of the time, terms, and place of each sale, by advertisement not lean ~tban o»ee
<br />dosing each of said four weeks in a newspaper published or distributed in the county in which add property
<br />, is situated, all other notice being hereby waived by the mortgagor (and edd mortgagee, or arty petson.rxi
<br />behalf of said mortgagee, may bid with the unpaid indebtedner evidenced by edd Hate). Said sale ehe13 Le
<br />held at or oa the property to be sold or at the Federal, county, or city rnurthouss for the cotmty fn which the
<br />property ie located. The mortgagee is hereby authorized to execute far and on behalf of the mortgagor amd~o
<br />deliver to the purchaser at each Bale a autficient conveyance of said property, which conveyance shall contain
<br />recitals as to the happening of the default upon which the ezecutinn of the paver of Bale herein granted
<br />depends; and the edd mortgagor hereby conetitutea and appbinta the mortgagee or soy agent or attorney of the
<br />mortgagee, the agent and attorney is tact of said mortgagor to make such recitals sad to execute add
<br />conveyance sad hereby coveaaatn and agrees that the recitals eo made shall be effectual to bar all equity or
<br />right of redemption, hamestead, doweq and all other exemptions of the mortgagor, ail of which are hereby
<br />expressly waived and conveyed to the mortgagee; or
<br />(ttt) take any other appropriate action pursuant to state or Federal statute either in state or Federal
<br />court or otherwise Ear the diapoaition oC the property.
<br />to the event of a salt as hereinabove provided, the mortgagor or any person in possession under the mortgagor shall
<br />then become and be tenante.6olding over and shall forthwith deliver possession to the purchaser at such Bale or be
<br />summarily dispossessed,. in accordance with the provisions o[ law applicable to tenants holding over. The powtr
<br />and agency hereby granted are coupled witfi an interest and are irrevocable by death or otherwise, and are granted
<br />ae cumula[ire to [he remedies (or coiiection of said indebtedness provided by law.
<br />4. The proceeds of any Bale of said property in accordance with the preceding paragraphs shall be applied 5nt
<br />b pay the cwL and ezpeneea aE said sale, the ezpenees incurred by tht mortgagee for the putpoae of pmtecting or main•
<br />wining said property', and reasonable atbrneye' tees: se«mdly, to pay the-inde6tednssa secured hereby; and thirdly,
<br />to pay any surplus or esceee to the person or pereens legally entitltd thereto.
<br />5. Ie the event said property ie sold at a judicial fomlosure Bale or pursuant to the power of cafe herciaabove
<br />granted, and the procetde are not sufficient 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 [or the amount of the dejtcieney without
<br />regard to approisement.
<br />(r, In the event the mortgagor (ails to pay any Federal, elate, or local tax aaaessment, income tax or other tax lien,
<br />charge, tee, or other expense charged against the property, the mortgagee is hereby authorized at his option b pay
<br />the same. Any some so paid by the mortgagee shall be added to and become a part of the principal amount of the
<br />indebtedness erdenced by said note, subject to the same terms and conditions. If the mortgagor shall pay and
<br />discharge the indebtedness evidenced by said promissory note, and shall pey such sums and shall discharge all taxes
<br />and liens and the cost0. fees, and expenses of making, enforcing, and executing this mortgage, then this mortgage
<br />stall be emceled and surrendered.
<br />7, The covenanu herein contained shall bind end the benefits and advantages shill iaurc to the respective euc
<br />eeron and apigtu of the parties hereto. Whenever used, rho eingukr number shall include the plura4 the plural the
<br />siaguln, sad the ttse of spy gsndtr shall include all geaden.
<br />g, No waiver of say covenant herein or of the obligation sxured hereby shall at any time thereafter be Geld
<br />to be a waiver of the terms hereof or of the note second hereby.
<br />9. Ia compGsnct with section 101.1 (d) of the Rules and Rtgulatiota of the Small Businea Admiaietratioa [13
<br />GF.R 10I.1(d) }, thin instrument is to be coastrteed and enforced is acrnrdmm with applicable Fedenl law.
<br />1fR A judicia! decree, ordeq or judgment holding any provision or portion of this instrument invalid or urn
<br />eafotcea6ie shall not in any way impair or preclude the enforcement of the remaining provisions or portions of
<br />this inetntmtnt.
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