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<br />3. The mortgagor covenants and agrees that if he shall fail to pay acid indebtedness or any part lhereo( whey
<br />due: or shall fail to perform any covenant or agreement of thin instrument or the promissory note aerated hereby, the
<br />entire indebtedness hereby secured shall immediately become due, payable, and collectible without ttotiax, at tyro
<br />optfon. of the mortgagee or assigns, regardless of maturity, and the mortgagee or his assigns may before or after eattry
<br />sell"'said property witfioui appraisement {the mortgagor having waived and assigned to the mortgagee all riglitsbf
<br />apprahtement)
<br />-, (t 1 at judicial sale pursuant to the provisions of 2S U.S.C. 2001 (a) ; or
<br />(tt) at the option of the mortgagee, tither by anetion or by solicitation of sealed hida,~for the-highest and -
<br />beat bid complying with the terms of sale and manner of payment specified is the published ttotia of sake, fitu
<br />giving four weeks' notice of the time, terms, and place of such sale, by advertisement not less than once
<br />daring each of said (our weeks in a newspaper published or distributed in the county in which said progeny--
<br />is situated, all other notice being hereby waived by the mortgagor (and -said mortgagee, or ang portion oa
<br />behalf of said mortgagee, may bid with the tmpaid indebtedaeee evidenced by said note). Said Bale shall~.ltc
<br />held at or on the property to be sold or at the Federal, county, or city wurthouee for the county in which the
<br />property ie located. The mortgagee is hereby at;tharized to execute for and on behalf of the merEgagor andto
<br />deliver to the purchaser at such sale a sufficient conveyance of said property, which conveyance shall eontiihs
<br />zecitala sa to the happening of the default upon which the ezceution of the power of u'E ht:sin gta.°.ced
<br />depends; and the said mortgagor hereby conetitutea and appoints the mortgagee or any agent or attorney of the
<br />mortgagee, the agent and attorney in fact of said mortgagor to make such recitals and to rotate acid
<br />conveyance and hereby covenants and agrees that the recitals so made shall be effectual to her all equity or
<br />right of redemption, homestead, dower, and all other exemptions of the mortgagor, ail of which are hereby
<br />expressly waived and conveyed to the mortgagee; or
<br />(ut) take any other appropriate action pursuant to state ar 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, the mortgagor or any person in possession under the mortgagor shall
<br />then become and be tenama.Tf`p€iliitg°oi7g'e'a4i~ `s~"ia~f foit~hwith deliver possession to the purchaser at such sale or be
<br />summarily dispossessed, in awCo ,~{aa ''~ifttsieions of law appHca6le to tenants holding over. The power
<br />~ig^~5.,~ z ,
<br />and agency hereby granted are coupled with an interest and are irrevocable by death or otherwise, and are granted
<br />ae cumulative to the 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 shalt he applied fiat
<br />to pay the coats and expenses of said soh, the expenses incurred by the mortgagee for the parpox of protecting or maia•
<br />twining said propert}'. and reasonable attorneys' fees; aecoudfy„ to pay the iodehtedneas secured hereby; and thirdly,
<br />to pay any surplus or ezr•eee to the person or persons legally entitled thereto.
<br />S, In the Brent said property is sold at a judicial foreclesare sobs or pursuant to tha power of safe hereirtahave
<br />grouted, and the proceeds are not snffieient to pay the total indebtedness atcured by this instrument and evidenced by
<br />said promissory notq the mortgagee will bt entitled to a deficiency judgment for the smauut of the deficiency witfwut
<br />regard to apprnisement.
<br />6. In the event themortgagor fails to pay any Federal, orate, or local tax assessment, income tax or other tax lien,
<br />charge, fee, or other expense charged against the property, the mortgagee is hereby authorized at his option to pay
<br />the saute. Any sums so paid by the mortgagee shall he added to and become a part of the principal amount of the
<br />indebtedness evidenced by said note, subject to the same terms and eonditimts. If the mortgagor shall pay and
<br />discharge the indebtedness evidenced by said promissory note, and shall pay such sums and shall discharge all taxes
<br />and tiros and the costs, fees, and expenses of making, enforcing, unJ executing this mortgage, then this mortgage
<br />shell be canceled and surrendered.
<br />7. The cevtnanta heroin contained shall bind and the benefits and advantage shall inure to the respective suo-
<br />caaora and assigns of the partid hereto. Whenever uxd, the siaguLr number shall include the plural, the plural the
<br />singular, sad the use of any gander shall include all genders.
<br />g. No waives of any covenant herein or of ttte obligation secured hereby shall at any time thereafter be Ite1d
<br />to be a waiver of the terroa hereof or of the note secured hereby. ,
<br />9. In compliance with section 101.1(d) of the Rules and Regulations of the Small Business Administration (1J
<br />C.F.R. lOl.lid)], this iwtrument is to rte conatraed and enforced in accordance with applicable Federal law.
<br />10. A judicial decree, order, or judgment holding any provision or portion of chic instrument invalid nr un-
<br />enforceable shall not is any way impair or preclude the enforcement of the remaining provieiotu or portioru of
<br />thin iostryaatnt.
<br />s:aai Foy pat {a•rsi ' •. ~~ 1 +.
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