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80-, u'it .-;.emu
<br />-~`-:3. The mortgagor covenants and agrees that if he shalt fail to pay said indebtednes or any part thereo[ when
<br />dire: or shall fail to perform any covenant or age«ment o[ this instrument or the promi~ory note aeeunrd hereby, the
<br />entire indebtedness hereby secured ahal- immediately become due, payable, and rollectihle withotti ~ticei ai the
<br />option of the mortgagee or assigns, regardless of maturity, sad the mortgagee or his assigns may before nr aker""entry
<br />cell-said property without agpraisement (the mortgagor having waived and assigned to the mortgagee all rigfitnaf
<br />appraisement) : -
<br />_ it) at judicial sale pursuant to the provisions of 28U.S.(,.20011a); or ~ -
<br />(u) at the ogtion of the mortgagee, either by auction or by solicitation o[ sealed bids,-for the hi~teet sad
<br />beet bid rnmplyiog with the terms of ease and mamer of payment specified is the published ~oti« of aalu'heet
<br />giving foot weeks' notice of the time, terms, and place of such Bale, by adveniaement nob lees than once
<br />during each of said four weeks in a newspaper published or distributed is the county.in wFr~hesid pFOperty
<br />ie situated, all other notice being hereby waived by the mortgagor (and said mortsagee, or airy petsettE:aa,-
<br />' behalf o[ said mortgagee, may bid with the unpaid indebtedaeee evidenced by said note). Saih-sak eha1~4'-be-
<br />held at oe on the property to be sold or at the Federal, county, or city courthouse for the cotmty'in which the
<br />property is located. The mortgagee is hereby authorized to execute for and on behalf o[ the mortgagor a~.to
<br />aclive: to the purchaser a! aceh sale a sufficient canveyanee at said property, wbich conveysn«s~sll comw~ -
<br />reeitaL se to the happening o[ the default upon which the execution of the power of eak herein granted
<br />depends; and the said mortgagor hereby conetitutce and apgbints the mortgag« or any agent or attorney of the
<br />mortgagee, the agent and attorney is fact o[ said mortgagor t~ make each recitals and to elteeute said
<br />conveyance and hereby covenants and agrees tbat the secitals~ ao made shall be eHectnal to bar all equity or
<br />right of redemption, homestead, dower, and all othec exemptions of the mortgagor, all of which are hereby
<br />expressly waived and conveyed to the mortgagee; or
<br />(ml take any other appropriate action puruant to state or Federal statute either in state or Federal
<br />court or otherwise for the disposition of alts property.
<br />In the event o(a sale as hercinabove provided, the mortgagor or any person in posseesion under the mortgagor shall
<br />then become and fie tenanta~fiigldc~gw~Y'srkTsA~f•~Torthwith deliver poaaeaaion to the purchaser at such sale or be
<br />summarily diapoesessed, in ac~irdance With" the' pSOViaions of law applicable to tenants holding over. The power
<br />and agency hereby granted are~coiiplC~ wiit~i an interest and are irrevocable by death or otherwise, and are granted
<br />as cumulative to the remedies for collection of said indebtedness provided by law.
<br />3. The proceeds o[ anq sale o! said property in aecardan« wish the preceding paragraphs shall be applied fiat
<br />to pay the costa and expeoan of acid sale, the experun incurred byahe mortgagee for the purpose o[ protecting or main-
<br />taining said property. sad reasonable attorneys' fees: secondly, to pay the~.~~indebtednees secured hereby; and thirdly,
<br />to pay any surplus or excess to the person or perwna legally entitled thereto.
<br />5. In the event said property is sold at a jadieial Far~Faaure salt or p==~==sni to the pa~.var a[ sale haiazaaltar9
<br />granted, and the prateeds are not suf6rieat to pay iha total indebtedness secured by this instrument and evidenced by
<br />said promissory note, the mortgag« will be entitled to w deficiency judgment for the amount of the deficiency mflhout
<br />regard to appraiaement.
<br />b. In the event the mortgagor Fails w pal any Federal, ntalr, or local tax asnesemenq income tax or other ta: lien,
<br />charge, fee, or ether expense charged against the property. the mortgagee is hereby authorised at his option W 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 />indebtedness evidenced by said note, subject to the same terms and conditiwts. I[ the nwrtgegor shall pay and
<br />dixharge the indebtedness evidenced by .aid promissory note, and shall pay such sums and shall dixharge all taxes
<br />and liens and the costa, tees, and expanses of making, enforcing, anJ executing this mortgage, then this mortgage
<br />shall be can«led and eurrendcred.
<br />7. The covenants hettia contained shall bind and the benefits and advamagn shall inure to the respective suo•
<br />eeasan and aaaigae of the parties 6ercto. 1Vhenaver used, the singuLr number shall include the plural, the plural the
<br />aingnLr, and the use of any gender shall include all gender.
<br />!f No waiver a[ say covenant herein or of the obligation secured harcby ebdl at any time thettaftar be held
<br />to be a waiver of the terms hereof or of the note s«ured hereby.
<br />4. In compliance with section IOLl (d) of the Rules and Regulation of the Smdl Business Admiaietratioo (13
<br />C,F.R. 101.1 (d) ], thin instrument is to be cooetrued and enforead in aceordan« with applicable Federal law.
<br />10. A judicid deer«, order, or judgment holding any provision or portion of this instrument invalid or an-
<br />enforcnbk shall not in any way impair or preclude the enfor«ment of the remaining provisions or portions of
<br />This instrument.
<br />9aA rO.~. gsr ta+ra! .v i~ ~a ~~
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