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<br />' 3. The mortgagor covenants and agrees that if he shall fail to pay said indebtedness or any part thereof whm
<br />diie; or shall fail to perform any covenant or agreement of this instroment or the promissory note eecared hereby; the
<br />attire indebiedneea hereby secured shall immediateh• become due, parable, and collectible without notice, st the
<br />option of the mortgagee or assigns, regardless of maturity, and-the mortgagee or his assigns may before or after eetry
<br />sell said property without appraisement (zhe mortgagor having waived and assigned to the mortgagee ail rights~of
<br />appraisement):
<br />It) at judicial sale pursuant to the provisions of 28 U.S.C. 2fp1(a); or
<br />Qt) at the option of the mortgagee, either by auction or by eolicitatioa of sealed bitla,'fot the highest seed
<br />beet bid complying with the terms of Bale sad mamer of payment specified in the published notix of sale. brat
<br />giving four weeks' notice of the time, terms, and place of such sale, by advertisement not lees than otux
<br />during each o[ said [our weeks in a newspaper published or distributed in the county in which said propeety
<br />is situated, all other notice being hereby waived by the mortgagor (and said mortgagee, or any parson o0
<br />behalf of said mortgagee, may bid with the unpaid indebtedneee evidweed by said noteD• Said sale shall be
<br />held at or on the property to be Bold or at the Federal, county, or city murthouee for the county in:which tlr
<br />property ie located. The mortgagee ie hereby au[horized to execu[e for and on behalf of the mortgagee and so
<br />deliver to the purchaser at such sale a sufficient conveyance of said property, which conveyance shall enata3L
<br />recitab ae to the happening of the default upon which the execution of the power of eak herein granted
<br />depends; and the said mortgagor hereby constitutes and appoints the mortgagee or any agent or attorney of the
<br />mortgagee, the agent and attorney io fact of said mortgagor to make such recital and to a:acute said
<br />conveyance and hereby rnvenants and agrees that the recitals eo made shall 6e eHectuai to bar all equity or
<br />right of redemption, homestead, dower, and all other exemptions of the mortgagor, all of which arc hereby
<br />expressly waived and conveyed to the mortgagee; or
<br />Uu} take any other appropriate action pursuant to state or Federal statute either in state or Federal
<br />court or otherwise for the disposition of the property.
<br />[n the event of a sale ea hereinabove provided, the mortgagor or any person in possession under the mortgagor shell
<br />[hen become and be tenants holding over and shall forthwith deliver ppssession to the purchaser a[ such sale or be
<br />summarily dispossessed, in accordance with'the`'provisione of law applicable to Tenants holding over. The power
<br />and agency hereby granted are coupled-with' an'fiiTereet and arc irrevocable by death or otherwise, and are granted
<br />as cumulative to the remedies for coifeetlo"e •u(~ead indebtedness provided by law.
<br />d. The proceeds of any sale of said property in accordance with the preceding paragraphs shall be applied tiro[
<br />[o pay the costs and expenses of said Bale, the expenses incurred by the mortgagee for the purpose of protecting ar maitt-
<br />taininq said property, and reasonable attorneys- tees; secondly, to par the indebtedness secured hereby; and thirdly,
<br />to pap any surplus or excess to the person or persons legally entitled iherclo.
<br />S. In the crept said property ie sold at a judicial foreclosure sale or pursuant to the power of axle hereinabove
<br />granted, and the proceeds are not euflicient to pay the total indebtednem secured 6y this instrument apd evidenced by
<br />said promissory pore, the mortgagee will be entitled to s deficiency judgment (or the amount of the dejicienry without
<br />rcgsw! to apprsisement.
<br />6. In 4he event the mortgagor fails to pay any Federal, elate, or local tax aseesemrn4 income tax or ether tax lieu,
<br />charge:, fee; or other expense charged against the property, the, mortgagee is hereby authorized at hie option w pay
<br />the came. Any sums eo paid 6y the mortgagee shall be added to and become a part of the principal amount of the
<br />indebtedness evidenced by acid note, subject to the same terms and conditions. If the mortgagor ehaN pay and
<br />discharge the indebtednesa evidenced by said promissory note, and shall pay such sums and shall discharge all taxes
<br />and fleas and the costs, fees, and expenses of making, enforcing, and executing this mortgage, then this mortgage
<br />shall be canceled and surrendered.
<br />7. The covenanU heroin contained shall bind and the benefits and advantages shall inure to the respective sue
<br />eeawn and asaigN of the prrtia hereto. Whenever used, rite singular number shall include the plura4 the plural the
<br />singular. and clef use ~ any gender shall inalude :U gendore.
<br />8. No waiver of any covenant herein or of the obligation secured hereby shall at any time thereafter he held
<br />to 6e a waiver of the terms hereof or of the note secured hercbv.
<br />9. In compliance with section 101.1(d) o! the Rula and Regulations of the Small Rosiness Adminiatratina (13
<br />C.F.R. 101.114) j, this ittstruoaent is to be copMrued and enforttd 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 />enforeeabie ehal# not in any way impair or preclude the enforcemem of the remaining provisions or portions of
<br />this instrument.
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