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<br />'-3. The mortgagor covenants and agrees thri if he shall fall to pay said indebteditees or any part thereof :srbm
<br />~iS: or shall fail to perform any covenant or agreement of this ioetrnment ar the promissory note secured hereby, the
<br />eritiRe indebtedness hereby secured shall immediately become due, payable, and collectible without notice, at'the -.
<br />option of the mortgagee or assigns, regardless of maturity, andthe mortgagee or his amigne may before or aftereatry -
<br />eelL'said property without appraiaement (the mortgagor having waived and aenigned to the mortgagee all rights of
<br />appraisement)
<br />t t) at judicial sale puruuant to the provisione of 28 U.S.C. 2001(a) : or
<br />(») at the option of the mortgagee, either by auction or by solicitation of eeskd bids,~for the bigheu sail .
<br />beet bid complying with the terms of Bale and manner of payment specified is the published antis a(asle, fiat--
<br />giving [our weeks' notice of the time, terms, and place of each sale, by advertisement not lees rhea once -
<br />during each of said four weeks in a newspaper published or distributed in the county in which said property ,
<br />ie situated, all other notice being hereby waived by the mortgagor (and said morigsga, or any person on -~
<br />behalf of said mortgagee, may bid with the unpaid indebtedness evidenced by said ante). Said Bale shall be
<br />held at or on the property to be Bold or at the Federal, county, or city courthouse for the county in wlgeh the --
<br />property is located. The mortgagee ie hereby authorized to ezecute for and on behaU of the mortgagoi•.and to
<br />deliver to the purchaser at such sale a sufficient com~eyance of said property, which conveyance shall contain
<br />recitals n to the happening of the default upon which the execution of the power of sak herein granted
<br />depends; and the said mortgagor hereby mnetitutee and appbinta the mortgagee or any agent or attorney of the
<br />mortgagee, the agent and attorney in (act of said mortgagor xa make such recitals and to ezernte said
<br />eonveyaaa and hereby coveaania and ageeee that the recitals ao made!shall be effectual to bar all equity or
<br />right of redemption, homestead, dower, and all other exempeions of thyaoq all of which are hereby
<br />expressly waived and conveyed to the mortgagee; or ~~~.`~~
<br />(utl take any other appropriate action pursuant to state or Federale[amt~~eNLer instate 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.themortgagor shall
<br />then become and he tenants holding over and shall forthwith deliver poeaeesion to the purchaser at 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 interest and are irrevocable 6y death or otherwise, and ere granted
<br />ae cumulative to the remedies for collection of said indebtedness provided br law.
<br />4. The proceeds o[ any Bale of said property in accordance with the preceding paragraphs shall 6e applied fiat
<br />to pay the ewts sad expenses of said Bale, the expenses incurred by the mortgagee for the purpose of protecting or main•
<br />twining said property. and reasonable attorneys' fees; secondly, to pay the indebtedness secured hereby: and thirdly,
<br />to par any sueplue or excess to the person or persons legally entitled thereto.
<br />5. In the event said property ie cold at a judicial foreclosure Bale or pursuant to the power of ask hensinabo~e
<br />granted, and the proceeds are not euicient to pay the tool-indebtedness secured by this imtrumwt sod evidenced by
<br />said promiewry note, the mortgagee will be entitled to a deficiency judgment for the amount of the deficiency without
<br />resard to apprsiaement.
<br />b. In the event the mortgagor fails to pay any Federal, orate, or local tax aesesamen4 income taz or other tax lien,
<br />charge, fee, or other expenx charged against the property, the mortgagee is hereby authorised at his option w pay
<br />the same. Any sums eo paid by t: r mortgagee shaCl be added to and become a part of the principal amount of the
<br />indebtedness evidenced by said note„ subject to the same tenne and conditions. II the mortgagor shall pay sad
<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, tees, and expenses of making, enforcing, and executing this mortgage, then thin mortgage
<br />shall be ceneeled and surrendered.
<br />7. The covenanu herein eontaiaed shall bind and the benefits and sdvantagee shill inure to the rdpective euc
<br />txaasn and assign of the parties hereto.lphmever used, the singular number shall include the plnra4 the plnral the
<br />aatgnlar, and the nee of any gander she!! iaslnde all geaden.
<br />8. No waiver of any covenant herein or of the obligation neared hereby shall at any time thereafter be held
<br />to 6e a waiver of the [arms hereof or of the note secured hereby.
<br />9. In compiianee with section 101.1 (d) al the Ruta and Regulation of the Small Busioeu Administration [13
<br />C.F.A. 101:1 (d) ], this instrument is to be cooatrued and eaforoed in accordance with applicable Fcdenl law.
<br />10. A judicial decree, order, or judgment holding any provision or portion of [hie instrument invalid or ram
<br />enfomabk shall not in any way impair or preclude the enforcement of the remaining provision or portions o[
<br />thin iiuttument.
<br />_ _, ns
<br />saw r... nor ta-rat
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