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80-.~~~,4G33
<br />3. The mortgagor covenants and agrees that if he shall fail to pay said inde6tedneee or any part theYeof: wheo-;
<br />due, or 9ha11 fail to perform any covenant or agreement of this Instrument or the premieebry note secured hertby;-the-
<br />etitfre indebtedness hereby secured shall immediately become due, payable, and collectible without rrotice,-at the_
<br />option of the mortgagee or assigns, regardless of maturity, and the mortgagee or his assigns may before or after entry;
<br />Bell said property without appraieement (the mortgagor having waived and assigned to the mortgagee all righa of.-
<br />appaisement) : -
<br />1 t 1 al judicial sale pursuant to the provisions o(28 U.S.C. 2001 (a) ; or
<br />(tQ at the option of the mortgagee, either by auction or by eo6eitation of xaled bide,'for the higbseiand
<br />beet bid complying with the terms of sale and manner of payment specified in.the pnbliabed »otitt of ask,-fuat'_
<br />giving four weeks' notice of the time, terms, and place of such sale, by advertieement not less than ona~~
<br />during each of said four weeks in a newspaper publiahe+l or distributed in the county in which said property::
<br />is situated, all other notice being hereby waived by the mortgagor (and acid mortgagee, or any-prtaon,on~i
<br />• behalf of said mortgagee, may bid with the unpaid indebtedness evidenced by said note). Said sak shall be3
<br />held at or oo the property to be Bold or at the Federal, county, or city courthouse for the cotmty in which the'
<br />property ie located. The mortgagee ie hereby authorized to execute for and on behalf of the mortgagor and to
<br />deliver to the purchaser at such sale a sufRcient conveyance of said property, which conveyance shag contain
<br />recitals as 4o the happening of the default upon which the execution of the power of sak herein granted
<br />depends; and the said mortgagor hereby conetitutee and eppbints the mortgagee or any agent or attorney of the
<br />mortgagee, the agent and at4ornsy in (act o[ said mortgagor to make such recitals and to execute said
<br />conveyance and hereby covenants and agrees that the recitals eo made shall be effectual to bar al! equity or
<br />right of redemption, homestead, doweq and all other exemptions of the mortgagor, all of which are hereby
<br />- expreesly waived and conveyed to the mortgagee; or
<br />(ut) 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 />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 tenants-hoklit~g nv~}• apdahillforthwith deliver possession to the purchaser at such Bale or be
<br />eummarily dispossessed, in' aecordaaee :with'.~,tbts.provisiona of law applicable to tenants holding over. The power
<br />and agency hereby granted aoe eatpkedsww;th~aii 4rffereat and are irrevocable by death or otherwise, and arc granted
<br />ae cumulative to the remedieefor~coReciion ~of~said indebtedness provided M• law.
<br />4. The proceeds of any Bale of said property in accordance with the preceding paragraphs shall be applied fiat
<br />to psy the caste and expenses of said axle, the expenses incurred by alas mortgagee fur the porpoae of protecting or main•
<br />taming said property, and reasanahle attorneys' fees; secondly, to par the indebtedness secured hereby: and thirdly.
<br />to pav any surplus or excess to the person or persona legally entitkd~thereto.
<br />5. In the event said property is sold at a judicid foreebsure sale or pursuant to the power of Bale herciaabove
<br />granted, and the proceeds arc not en6tcient to pay the total indebtedness secured by this instrument and evidwced by
<br />said promissory Hots, the mortgagee will be entitled to a deficiency judgment for the amount of the defiwiency without
<br />regard to appraiaerrtent.
<br />6. ]n the event the mortgagor fails to pay any Federal, state, 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 m pay
<br />the same. Any sums eo paid by the mortgagee shall be added to and become a part of the principal amount of the
<br />indebtedness evidenced by said .:ate, subject m the same terms and conditions. Ii the mortgagor shall pay and
<br />dixharge the indebtedness evidenced by said promissory note, and shall pay such swot and shall discharge all taxes
<br />and liens and the costa, fete, and expenees of making, coforcing, and executing this mortgage, than this mortgage
<br />shalt be canceled and surrendered.
<br />7. The covenanb herein contained shall bind and the benefits and advantages shall inure to the rsepective suc•
<br />carom and aaaigm of the parties hereto. Whenever used, the singular number shall include the plurd, the plant the
<br />eitigular, and tits use of any gander shall include a!! geedera,
<br />8. 1Vo waiver of any covenant herein or of the obligation secured hereby eftall at any time thereafter be held
<br />to be a waiver of the terms hereof or of the pots secured hereby.
<br />9. In compliance with section 101.1(d) of the Rules and Requlationa of the 5ma11 Ruaineu Admiaietration (13
<br />GF.R. 101.1 {d) j, this imtrument is to be epnatrued and enforced in accordance with applicable Federal law.
<br />!0. A judicial decree, order, or judgment holding any provision or portion of this instrument invalid or un-
<br />enforeeabk shall not in any way impair or preclude the enforcement of the remaining proviaioTU or portions of
<br />t¢,ie ins-ntgtent.
<br />aaA rc,w V1T 1a~Ta) ~ -~ •~-
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