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<br />_ :3. The mortgagor covenants and agrees that if he ehati fail to pay said indebtedness or any part thereof when
<br />dtie; or shall fail to perform any covenant or agreement of this instrument or the promissory note sernred hereby, the
<br />ensue 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 aeaigee may before or after eotzy
<br />eell'aid property without appraisement (the mortgagor having waived and assigned to the mortgagee all rights of
<br />appraisement ;
<br />! a) at judicial sale pursuant to the provisions of 28 U.SC. 2001(a) ; or
<br />(tt } rat the option of the mortgagee, either by auction or by solicitation of sealed bide,'Eor the highest and
<br />boat bid complying with the terms of Bale and mamer of payment specified in the published ttotiee of sale, G:st
<br />giving four weeks' notice of the time, terms, and place of such sale, by advertisement not lea than once
<br />during each of said [our 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 mortgagee, or any ptx.oa om
<br />behalf of esid mortgagee, may bid with the unpaid indebtedness evidenced by said note). Said sale shag be
<br />held at or on the property to be Bold or at the-Federal, rounty, or city courthouse for the county in which the
<br />property u 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 eu$icient conveyance of said property, which conveyaace~~all contain
<br />reeftele ad to the happening of the default upon which the execution o[ the power of eak hstrein gnawed
<br />depends: and the said mortgagor hereby roastitutee and appbinu the mortgagee or any agent or attoroey of the
<br />mortgagee, the agent and attaroey in fact of said mortgagor to make such recitals and to execute esid
<br />conveyance and hereby rovenantn and agrees thu the recitals eo made shall be e$tttnal to bar all etptity or
<br />right of redemption, homestead, dower, and all other exemptions of the mortgagor, all of which are hereby
<br />expressly waived aed conveyed to the mortgagee; or
<br />~tyj take any otber appropriate action pursuant to state or Federal statute either in state or Federal
<br />court or otlllenvtaE~ for the disposition of the property.
<br />In the eveni~ o"f a,eal~•itsdtercinabove provided, the mortgagor or any person in possession under the mortgagor shall
<br />then bceoiac~tida6e,letutnts holding over and shall forthwith deliver possession to the purchaser at such sale or be
<br />summarily disposot~ssed; in ~ attordance with the provisions of law applicable to tenants holding over. The power
<br />and agency hereby granted are coupled with an interest and are irrevocable by death or otherwise, and arc granted
<br />as cumulative to the~remediea for coifection of said indebtednem provided by law.
<br />4. The proceeds of any sak of said property in attordance with the preceding paragraphs shall be applied fist
<br />to pay the emote and expa~ of said ule, the expenses incurred by the mortgagee for the purpox of protecting ormain-
<br />iaining said property. and reasonable attorneys fees; secondly, to pay the indebtedness secured hereby; and thirdly,
<br />to pay any surplus or excess to the person or persons legally entitled thereto.
<br />5. In the event .aid property is mold at a judicial foreeloeurc Bale or punuant to the power o[ Bale hereiaabove
<br />granted, and the proceeds ere not sn6cient to pay the total indebtedness secured by thin instrument and evidenced by
<br />said promissory note, the mortgagee will 6e entitled to + deficiency judgment for the amount of the deficiency without
<br />regard to appraisement.
<br />F. (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 authorised at his option w pay
<br />the same. Any some eo paid by the mortgagce ehd! be added to and become a part of [he principal amount of the
<br />indebtedness evidenced by said note, subject to the same terms and conditions. If the mortgagor shall pay and
<br />discharge the indebtedness evidenced by said promissory note, and shaft pay such awns and shell discharge all taxes
<br />end liens and the costs, fee0. and expenses of making, enforcing, and executing this mortgage, then this mortgage
<br />shill be canceled and surrendered,
<br />7. The covenants hemin contained shall bind sod the benefits and advantages shall inure to the respective sue•
<br />txtsson and aeeigm of the parties hereto. Whenever used, the singular number shall include the plural, the plural the
<br />sfagu4r, and Lhe use of any gender shall utelude all genders.
<br />S. No waiver of any covenant herein or of the obligation second hereby shall at any time thereafter be held
<br />to 6e a waiver of the terms hereof or of the note secured hercbv.
<br />9. In compliance with eeetion 101.1 (d) of the Rules and Regulations o[ the Small Business Administration [ 13
<br />C.F.R 101.1 (d} ], chi. itutrntaent ie to be construed sad enforced in aceordanoe with applicable Federal law.
<br />!0. A judicial decree, order, or judgment holding any provision or portion of this instrument invalid or un•
<br />ea[oreeabk shall sat in any way impair or preclude the enforcement of the remaining provisions or portion of
<br />this instrument.
<br />eaA P~~ Otr Ia-rf) i~Y ~, .]3 IIH
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