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80-- uC~4651 .
<br />-- 3. The mortgagor covenants and agrees that if he shat} fail to pay said indebtedness or any part thereof when
<br />duG oe shall tail to perform any covenant ar agreement of rota instrument or the promiesery note secured hereby, the
<br />entire indebtedness hereby secured shall immediately become due, payable, and collectible without notice, at the
<br />optiaart of the mortgagee or assigns, regardless of maturity, and the mortgagee or his assigns may before or after entry
<br />etill'said property without appraiaement (the mortgagor having waived and assigned to the mortgagee al! rights of
<br />appsafsement)
<br />ttJ at judicial sale pursuant to the provisions of 28 U.S.C. 2001(a); or
<br />(a) at the option of the mortgagee, tither by auction or by solicitation of sealed bide, for the highest attd-
<br />best bid complying with the terms of sale and manuer of payment specified is the published notice of sale, first
<br />giving four weeks' nottce of the time, terms, and place of such ease, by advertisement not lase than once
<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 said mortgagee, or any person ~.
<br />behalf of said mortgagee, may bid wish rho unpaid, indebtedness evidenced by said note). Said axle shall fie
<br />held at or oo the propert}• to be sold or at the Federal, county, or city roarthouse for the county in whickthe
<br />property u located. The mortgagee ie hereby authorized to execute for and an behalf of the mortgagor and to
<br />deliver to the purchaser at such sale a sufficient conveyance of said property, which eonvepance shat! rnntain
<br />reciiala as to the happening of the default upon which the execution of the power of Bale 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 in fact of said mortgagor to. make such recitals and to execute maid
<br />conveyance and hereby covenants and agrees that She recitals so made shall be eHeetual to bar all equity':or
<br />right of redemption, homeetead, dower, and all other exemptions oP the mortgagoq all of which are hereby
<br />expressly waived and conveyed to the mortgagee; or
<br />hul take any other appropriate action pursuant to state or Federal statute either ir, state or Federal
<br />court or otherwise for the disposition of the property.
<br />[n the event of a sale ae hereinabove provided»,.the.mortgagor or any person in poeArasion under the mortgagor shall
<br />then become and be tenanta.,holditrg'~bver and<ahnB forthwith deliver posseavion to the purchaser at such sale or be
<br />eummarily dispoeseesed,..ia~.aecor~a~t,Ce, with'the provisions of law applicable to tenants holding over. The power
<br />aqd agency hereby granted are,cqup~ed .with an interest and are irrcvocabie, by death or otherwise, and are granted
<br />as evmulative to the remedies fer-colfection of said indebtedness provided by law.
<br />4. The proceeds o[ any sale of acid property is accordance with. the preceding paragraphs shall fie applied first
<br />to pay tot cosh and expenen of said Bale, the expenses incurred by the mortgagee for the purpose of protecting or main•
<br />raining Acid property, and reasona6ie attorneys' fees; eceundly, to pay the indebtedness secured hereby: and thirdly,
<br />W pay any surplus or exce~ !.o the person or persons legally entitled ihtmto. _
<br />S. In the event said property is wld at • judicial foreclosure Bale or pursuant to the power of eak hereinabove
<br />granted, and the proceeds ax not euBteient to pay the total indebtednem secured by this inetrttment and evidenced by
<br />said promissory note, the mortgagee will be entitled to a deficiency judgment for the amount of the deficiency witftostt
<br />regard to apprewement.
<br />6, In the event the mortgagor fails to pay any Federal, state. or local tax aseessmeM, income tax or other tax lien,
<br />charge, fee, ur other expense charged against the property, the mortgagee is hereby authorized at his option to pay
<br />the same. Any come so paid by the mortgagee shall be added to and become a part of the principal amount of the
<br />indebtedness evidenced by said note, subject to the, same rectos and conditions. If the mortgagor Ahall pay and
<br />discharge the indebtedness evidenced by Aaid promissory note, and shall pay such sums and shall discharge all tares
<br />and liens and the costa, teen, and expenses of making, enforcing, and executing this mortgage, then this mortgage
<br />shall fie canceled and eurrendtred.
<br />7, The covenants herein contained shall bind and the benefits and advanlagee shall inure to the respective sue
<br />ceesen and sseigns of the parties hereto. Whsnever used, the singular number shall include the plural, the plural the
<br />singular, and the nae of soy gender shell include all geadere.
<br />8. Nn waiver of any covenant herein or of the obligation secured hereby shall at any time thereafter he held
<br />to fie a waiver of the terms hereof or of the note secured here6v.
<br />9. In rnmplimce with section 101.1 (d) ~f the Rules and Regulations of the Small Business Administration [ 13
<br />C.F.R 101.1 (d) ), this instrutneot is to he construed and enforced in accordance with applfuble Federal law.
<br />10. A judicial decree, order, or judgment holding any provision or portion of this instrument invalid or un•
<br />enforecable shall not in any way impair or preclude the en[orttment of the remaining proviaiottn or portions of
<br />this fuatntment.
<br />aas i~~ 9tT tYTa/ .r u ~aH >!h
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