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<br />. 3. The mortgagor covenants and agrees that if he shall fail to pay said indehtedneea or any part thereof when
<br />due, or shall fail to perform any covenant or agreement of thin inewment or the promissory note secured hereby, the
<br />eittite indebtedness hereby secured shall immediately become due, payable, and rollectible without notice, at the
<br />option of the mortgagee or assigns, regardless of maturity, and the mortgagee or hie assigns may before or after entry
<br />ee11'said property without appraisement (the mortgagor having waived and assigned to the mortgagee all rights of
<br />appiaisementl
<br />1+l at judicial sale pursuant to the provisions of ?B U.S.C. 20011a); or
<br />(a) at the option of the mortgagee, either by aaMioa or by eodicitation o[ eeakd bide,'for the highest sad
<br />beet bid complying with the terms of Bale and manan of payment specified in the published notice of wle, Stet
<br />giving four weeks' notice of the time, terms, and place of such Bale, by advertisement not lees than once
<br />during each of said four weeks in a newspaper published or distributed in the county in which said property
<br />u situated, all other notice being hereby waived by the mortgagor (and said mortgagee, or nay person on
<br />behalf of acid mortgagee, may bid with the unpaid indebtedness evidenced by said note). Said sale shall be
<br />held at or oa the property to be sold or at the Federal, county, or city courthouse for the eaanty in which the
<br />property is located. Thx martgagec is hereby authorized to ezecute for and on behalf of the mortgagor and to
<br />deliver to the purchaser at each Bate a euificient conveyance of said property, which conveyance shall matain
<br />recitals ae to the happening of the default upon which the execution of the power of Bale herein granted
<br />depends; and the said mortgagor hereby rnnetitutee and appoints the mortgagee or any agent or attorney of the
<br />mortgagee, the agent and attorney is fact of said mortgagor to make such rentals and to ezecute said
<br />conveyance and hereby covenants and agrees that the recitals eo made shall be effectual to bar all etryity or
<br />right of redemption, homestead, doweq and all otherexemptions of the mortgagor, all of which are hereby
<br />expressly 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 [or the disposition of the property.
<br />In the event of a safe ae hereinabove provided, the mortgagor or any person in possession under the mortgagor shall
<br />then become and be tenants holding over and shall forthwith deliver possession to the purchaser at such sale or be
<br />summarily diapoesessed, in accordance 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 are granted
<br />as cumulative to the remedies for cailection of said indebtedness provided by law.
<br />4. The proceeds of nay sale of said property in accordance with the preceding paragnpbe shall 6e applied tint
<br />to pay the caste and expenses of said sale. the exper+eee incurred by the mortgagee for the purpose of protecting or maia•
<br />raining said property, and rearonable attorneys' fees; secondly, to pay the iudebtedneee secured hereby; and thirdly,
<br />to pay any surplus or excess to the ptTSOn or persons legally entitled thereto.
<br />5. In the evens aid property is acid st a judicial foreetoeure Bale or pursuant to the power of ease hereinabove
<br />granted, and the proteede are not sufficient to pay the total indebtedneee eecurcd 6y this inatroment and evidenced by
<br />acid promissory note, the mortgagee will 6e entitled to n deficiency judgment for the amount of the defieienry withottt
<br />regard to appnsisement.
<br />6. In the event the mortgagor fails to pay any Federal, state, or local tax assessment, income tax or other tax Tien,
<br />charge, (re, or other expctue charged against the property, the mortgagee is hereby authorised at his option to pay
<br />the came. Any came eo paid by the mortgages shall be added to and become a part of the principal amours! 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 pate, and shall pay such sums and shall dixharge all taxes
<br />sad time end the costa, fees, and expenses of making, enforcing, and executing this mortgage, thin this mortgage
<br />ehdl be aaneeled and surrendered.
<br />7. Tho covenants hemio contained shall bind and the benefits aed advantage. shall inure to the respective suo
<br />cerson and asaigru of the parties hereto. R~lteaever used, the singular numlror shall iocludt the plant, the plant the
<br />siagttler, and the use of any gender shall include all geaden.
<br />B. Nn waiver of any covenant herein or of the obligation secured hereby shall at any time thereafter be held
<br />to 6e a waiver of the terms hereof or of the note sacurod hereby.
<br />9. Ia compliance with section 101.1(d) of the Rules and Regulations of the Small Busim:aa Admiaistntion (13
<br />C.F.R. 101.1 (d) ], thin imtruttxnt is to be construed and enforced in accordance with applicable Federal law.
<br />lU. A judicial decree, order, or judgment 6oldinq any provision or portion of this instrument invalid or un•
<br />en(orceeblt shall not in any way impair or preclude the enforcement of the remaining provisions or portions of
<br />this ittstromenl.
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