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<br />3. The mortgagor covenants and agrees that it he shall fail to gay said indebtedne® or any part thereof when
<br />due, or shall fail to perform any covrnant or agreement of this instrument or the promissory note secured hereby, the;
<br />entire indebtedness hereby secured shall immediately become due, payable, and rollectibk without notita:at-i&e
<br />apfion of the mortgagee or assigns, regardless of maturity, and the mortgagee or his assigns m¢y before orafter entry.
<br />sell said property without appraisemrnt (the mortgagor having waived and assigned to the mortgagee aUrighte ofi~
<br />~spraieemrnt): - -
<br />1 t) a[ judicial sale pursuant to the provisions of 28 U.S.C. 2001(a) ; or
<br />(n) at the option at the mortgagee, either by auction or by wlicitation of eeakd bide,•[or the t rod'
<br />beat bid complying with the terms of sale and manner of payment specified in the published notice oisale; firaF~
<br />giving tour weeks' notice of the time, terms, end place of such sale, by advertisement not lese~ahaa once-,-
<br />during each of said four weeks in a newspaper published or distributed in the county in.whicb eai~propertp::
<br />is situated, all othee notice being hereby waived by the mortgagor (and said mortgagee, or any-pintronotr
<br />behalf of said mortgagee, may bid with the unpaid iadebtednece evidenced by said note). Said ea~t'shall be
<br />held at or on the property to be sold or at the Federal, county, or city courthouse for the rnmty intirhich the;
<br />property is ioealed. 1 he mortgagee is hereby auliro rized to execute for and on behalf of .he mortg4gor sad tOF'
<br />deliver to the purchaser at ouch Bale a sufficient conveyance of said property, which conveyamx shall wntain~-
<br />reeitale u to the happening of the default upon which the ezecution of the power of eak herein granted
<br />depends; and the said mortgagor hereby constitutes and appoints the mortgagee or any agent or attottteq of the
<br />mortgagee, the agent and attorney in fact of said mortgagor to make such recitals and to ezscute said
<br />conveyance and hereby covenants aed agrees that the recitals eo made shall be effectual to bar all equity or
<br />right of redemption, homestead, doRc:, and all other exemptions of the mortgagor, all of which am hereby
<br />expressly waived and conveyed to the mortgagee; or
<br />(uU take any other appropriate action pureuam 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, [he mortgagor or any person in possession under the mortgagor shall
<br />then become and be ten tom: ~'~ljtwith deliver possexsion to the purchaser at such sale or be
<br />summarily dispossessed, to ordtWOrA\r®t0'twieions of law applicable [o tenante~holding over. The power
<br />and agency hereby grant~e~e.INtiMA11~1'511~lhRt and are irrevocable by death or otherwise, and are granted
<br />as cumulative to the rem ies or collection at sal indebtedness provided by law.
<br />4. The proceeds of any Bale of said property in accordance with the preceding parsgnpbe shall be applied tint
<br />to pay the cocJ and expenses of said axle, the exneneea incurred 6y the mortgagee for the gtupose ot-protecting or main•
<br />twining said property, and reaeonablc attorneys' fees; secondly, to pay the indebtedness secured hereby; and thirdly,
<br />to pay a::y xurpiua or ezcess ter the Izrrxan or t.ers:stu legally a:~:titied thereto.
<br />5. in the event said property is sold at a judteisi foreclosure sale oz pursuant to the power of Bale hereinabove
<br />granted, and the proceeds are not sufficient to pay the total indebtedness secured by this instrument and evidenced by
<br />said promissory note, the mortgagee will fie entitled to + deficiency judgment for the amount of the de(rciency without
<br />regard to apprnisement.
<br />6. In the event the mortgagor toile to pay an} Federal, state, ur local tax asnesxmrnt, income Pax or other lax lien,
<br />charge, fee, or other expense charged against the property, the mortgagee is hereby .mthorizrd at his option to pay
<br />the same. Any sums eo paid by the mortgagee shall fir added to and become a part of the principal amount of the
<br />indebtedness evidenced by said note, subject to the sumo terms :uni cn:editior:s. If the nmrtgagor shall pay and
<br />discharge-.the indebtedness evidenced by ..>aid promissory :uru, and .hnl! pay sorb sums and eball discharge ail taxes
<br />and liens end the costa, (ers, and expenses of making, enfon•ing, and executing this mortgage, then tbis mortgage
<br />shall be canceled and surrendered.
<br />7. The wvenante heroin contained xhall bind and the benefits and advantages shall inure to the respective xuc-
<br />ceeson and usigna o[ fire parties hereto. Whenerer used, the singular number shall include the plural, the plural the
<br />aingulu, and the rtes of any gender shall include all genders.
<br />8. ti'p waiver of any covenant herein or of the obligatioo secured hereby shall at an}• time thereafter be held
<br />to be a waiver of the terms hereof or of the note secured hereby.
<br />9. In rnmpliance with section 101.1(d) of lire Rules and Regulation of the Small Bveineaa Admiaietration [ I3
<br />C.F.R. 101.1(d) ], this instrument is tw be construed and enforced in accordance with applicable Federal law.
<br />10. A judicial decree, order, or judgment holding any provision or portion of this instrument invalid or un-
<br />entprcea6le shall trot in any wa}• impair or preclude the enforcement of the remaining provisions or portions of
<br />thi- instrument.
<br />YBa Pa,m oar 18~ia/ " '~~ '~
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