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<br />-. 3.. The mortgagor covmanta and agrees that if he shall fail to pay said indebtednem or any part thereof wlxa
<br />due, or shall fait to perform any covenant or agreement of thin instrnment or the promissory note secured hereby, the
<br />eniirc indebtedness hereby secured shall immediately become due, payable, and collectible without notice, at the
<br />option of the mortgagee or assigns, regardless of maturity, and the mortgagee or his assigns may before or:(ter entry
<br />sell aa[d property without appraiaement (the mortgagor having waived and assigned to the mortgagecall rights of
<br />ap~caiaement)
<br />(i) at judicial sale pursuant to the provisions of 28 U.S.C. 2(pl (a) ; or
<br />(tt) et the option of the mortgagee, either by auction or by solicitation of sealed bide,~for the highest and
<br />beat bid complying with the terms of sale and manner of payment specified in the published notice of sale, fmt
<br />giving four weeks' notice of the time, terms, and place of such sale, by advertisement not less than orttx
<br />during each of said four weeks in a newspaper published 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 perwa m
<br />behal[ of said mortgagee, may bid with the unpaid indebtedneee evidenced by said note). Said Bale shall be
<br />held at or on the property to be sold or at the Federal, county, or city rnurthoux for the county in which the
<br />property is located, The mortgagee is hereby authorized to execute for and on Ixhalf of the mortgagor sad to
<br />deliver to the purchaser at such sale a sufficient conveyance of said property, which conveyance shall eoat:in
<br />recittL as to the happening of the default upon which the ezecutioa of the power of sale 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 is fact of aaid mortgagor to make such recitals and to execute said
<br />conveyance and hereby covenants and agrees that the recitals so made shall be effectual to bar ail equity or
<br />right o[ redemption, homestead, dower, and all other exemptions of the mortgagor, all of which are hereby
<br />' ezpresals waived and conveyed to the mortgagee; or
<br />hn) 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 properly.
<br />In the event of a sale as herein ~~ any person in poeseasion under the mortgagor shall
<br />thsn become and be tenants ho rn "r a ),• ' h liver posxasion to the purchaser at such Bale or be
<br />summarily dispossessed, in arc rd iiNMSis law applicable to tenants holding over. The power
<br />and agency hereby granted are coupe wr an mtereat and are irrevocable by death or otherwise, and are granted
<br />as cumulative to the remedies for collection of said indebtedness provided by law.
<br />4. The proceeds of any sate o[ aaid prcperty in accordance with the preceding paragnphe shalt be applied first
<br />to pay the casts sad expenses of aaid sale, the expenses incurred 6y the mortgagee for the pnrpoee of protecting or main•
<br />twining said property, and reasonable attorneys' tars; secondly, to pay the indebtedness secure<i hereby; and thirdly,
<br />to pay any surplus nr excess to the person or persons legally entitled thereto.
<br />5. Ia the event aaid-.proporiq is sold at a judicial foreclosure Bale or ~pnnnant to the- power of axle hercinabave
<br />granted, and the proceeds are not nuBcient to pay the total indebtedness secured by this imtrnment and evidenced by
<br />aaid pmmieeory note, the mortgagee will be entitled to w deficiency judgment for the amount of the deficiency without
<br />regard to approiserneat.
<br />6. In the event the mortgagor [ails to pay any Federal, elate, or local tax aseexamrn4 income tax or other tar lien,
<br />charge, fee, ur other expellee charged against the property, the mortgagee is hereby aulhnrized at hie option to pay
<br />the same. Any soma eo paid by the mortgagee shell be added to and become a part o[ the principal amount of the
<br />indebtedness evidenced by aaid note, subject to the same terms and ironditions. If the mortgagor shall pny and
<br />discharge the indebtedness 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 mortgage, then this morlgrge
<br />shall Ee canceled and surrendered.
<br />7. The covenants heroin contained shall bind end the benefits and advantages shall inure to the respective sun
<br />sawn and wigns of the parties hereto. Whenever used, the singular number shall include the plnn4 the plant the
<br />tviagalar, and the rtes of say gender shall include all genders.
<br />8. No waver of any wvenant herein or of the obligaUOn secured hereby shall at any time thereafter be held
<br />to be a waiver of the terms hereof or of the note secured hereby.
<br />9, In compliaarc with section 101.1 (d) o! the Rules sad ReguLtiom of the Sma[- BusineY Adminiatratioo [13
<br />C.F.R 101.1(d) ), ehb instrument is to be conetrncd and enforced fa aceordaaee with applicable Federal law.
<br />10. A judicid decree, order, or judgment holding any provision or portion of this instrument invalid ar un•
<br />eaforceabk shall not in any way impair or preclude the enforcemmi of the remaining provisions or portions of
<br />this instrument.
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