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<br />3. The mortgagor covtnams and agrees that if he shalt fail to pay uid indebtednes or any part thgrepf wlten-
<br />dae, or shall fail to perform any covenant or agreement of thH'Inatrument or the promissory note secure&Herebj, the
<br />eagire- indebtedtess hereby secured shall immediately become due, payable, and colitctible without notior; sr tl!tt--
<br />oQtfota of the mortgagee of assigns, regardless of maturity, and the mortgagee or his assigns may before orafter enliDy
<br />set said property without appraiaement (the mortgagor having waived and assigned to the mortgagee-all'eighia. of
<br />ap'prafsetnent)
<br />(t) a€ judicial sale pursuant to [he provisions of 28 U.S.C. 2001(a) ; or
<br />(u) at the option of th¢ mortgagee, either by auction or by solieitatioo of xskd bida,'for theltigltdt sad
<br />- best bid complying with the terms o[ uk and manner of payment specified in the published notioe of sale. blest
<br />giving tour weeks notice of the time, terms, and place of such sale, by advertisement not leas th~m=oi~
<br />during each of said forte weeks in a newspaper published or distributed in the county in which said property
<br />• ie situated, all other notice being hereby waived by the mortgagor (and uid mortgagor, or uy ptuaon?otr
<br />behalf of uid mortgagee, may bfd with the mpaid indebtedeeae evidenced by said note). Said u1e ah:l1-be
<br />held at or oo the oronezty to be sold or at the Federal, county, or city courthouse for the couet;:n whi~itte
<br />property u Located. The mortgagee is hereby authorized to execute for and on behalf of the mortgagor aed to
<br />deliver to the purchaser at such Bale a eufhcient conveyance of said property, which conveyance-ishall coiliain
<br />retatals m to the happening of the default upon which the ezeeution of the power of oak herein gtanted~
<br />depends; and the said mortgagor hereby rntutitutea and appbinta the mortgagee or any agent or attorney of the
<br />mortgages, the agent and attorney in feet of said mortgagor to make ench recitals and to ezecute~uid
<br />conveyance and hereby eovetuets and agrees that the recitals eo made shall be effectual to bar all.etptity or
<br />right of redemption, homestead, alowtr, and all other exemptions of the mortgagor, all'of which are hereby
<br />ezpresaly waived and conveyed to the mortgagee; or
<br />furl take any other appropriate action pursuant to state or Federal statute either in state or Federal
<br />court o: otherwise for the disposition of the property.
<br />In the event of a sale as hereinabovr provided, the mortgagor or any person in poraession under [he mortgagor shall
<br />then become and hgttsAMt}hddiug.natr•and shall forthwith deliver possession to the purchaser at such sale or be
<br />summarily dispoaseseetl, in aceosdanee-with the provisions of law applicable to tenants holding ever. The power
<br />and agency hereby granfl8'h'te coupled with an interest and are irrevocable by death or otherwise, and are granted
<br />as cumulative to the remedies for coilectionof said indebtedness provided key law.
<br />4. The proceeds of any sale a6 said property in accordance with the preceding paragraphs shall be applied fist
<br />to pay the costa and ezpettaee of said Bale, xhe expenses incurred by the mortgagee for the purpose of protecting or me~~~~
<br />raining said property, and reasonable sttarneya tees: stemnfly, to nay zht indebtedness secured hereby: and thirdly.
<br />to pay any aurp}ua or exaeea to the person or persons legally entitled thereto.
<br />5. In the event sod property is sold at a judicial foreclosure sale or purewat to the power of ale hereinsbove
<br />grmted, and die proceeds arc not suffieiem to pay the total indebtedneee secured by thin ioetrument and evidenced by
<br />uid promissory note, the mortgagor will be entitled to a deficiency judgment for the amount of the deficiency without
<br />regard to appraiaement.
<br />ti. (n the event the mortgagor toile to par any Federal, state, or local tax assessment, income tax or other tax lien,
<br />charge, ter, or other expense charged agaiuat the property, the mortgagee is hereby authorised at his option w pay
<br />the ume. Any sums au paid 6y the mortgagee shall be added to and become a part of the principal amount u( the
<br />indebtedness evidenced by said no.e, subject to the came terms and eouditions. If the nu,rtgagor shall pay ;uid
<br />ditsiterge the indebtedntse evidenced by said promissory note, and shall pay such sums and shall discharge all taxes
<br />and liens and the costa, fees, and expenses of making, enforcing, and executing this mortgagn, then this mortgage
<br />shall be canceled and surrendered.
<br />7. The covenattu herein contained shall bind and the benefits and advantages shall inure to the rcwpective euc•
<br />ceaaon and aasi6ru of the partite hereto. Whenevtr used, the singular number shall include the plural, the plurd the
<br />sipgnlar, and the ore of any gtndu shell include al! gtndtn.
<br />8. No waiver of any covenant herein or of the obligation secured hereby shall at any time thereaher be hold
<br />to 6e a waiver of the terms hereof or of the Hair secured herrby.
<br />9, In compliance wtih aecttoa 301.1 (d) of the Rules and llegulations of the Small tlwiaeae Admioutntion (13
<br />G.F.R. Iota{d) j, this ftutrutnent fs to be conµruad mod enforud in accordance with applic:6le Federal law.
<br />lU. A jgdiciaf dente, order, or judgment holding any provision or ponion of this instrument invalid or uv-
<br />eaforceablt shall not in any way impair or pceclude the enforcement of the remaining provisions or port.iona of
<br />this iH-lCUtnent,
<br />sex eery _.: ty-xat -
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