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<br />3. The mortgagor covenanie and agrees that if he shall tail to pay said iodebtedneee or any partthereof when
<br />due, or shalt tail to perform any covenant or agreement of this instrument or the promissory note eeeured, hereby, the
<br />entire indebtedness hereby secured shall immediately become due, payable, and collectible without mitt, at-t7te
<br />option of the mortgagee or assigns, regardless of maturity, and the mortgagee or his aeeign may before or after entry
<br />ee$ said property without appraixment (the mortgagor having waived and assigned to the mortgagee all rightrot
<br />appraieement):
<br />_ 1 t ~ at judicial sale pursuant to the provisions of 28 U.S.C. 2001(a j ; or
<br />(n) at the option of the mortgagee, either by auctioa or by eolicigdon of sealed bids,•for the bights[ and
<br />beet bid complying with the [alma of Bale and manner of payment epeciSed in the published notice of ask, first
<br />giving (our weeks' notice of the time, terms, and place of such Bale, by advertixment not leas than mtt
<br />dnring 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 acid mortgagee, or any ptnaon-on
<br />behalf of said mortgagee, may hid with the unpaid indebtedness evidenced by said Holt). Said-- eak shall be
<br />held at or oo the property to be sold or at the Federal, county, or city courthouse for the county in which the
<br />property ie located. The mortgagee ie hereby authorized to execute for and on behalf of the mortgagor and Eo
<br />deliver to the purchaser at each sale a sufficient conveyance of said property, which conveyantt shall congin
<br />eeeitale 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 conetituten and appoints the mortgagee or any agent or attorney of the
<br />mortgagee, the agent and attorney in (act o! said mortgagor to make such recitals and to ezecute said
<br />rnnveyance and hereby covenants and agrees that the recitals eo made shall be effeMna) to bar all equity or
<br />right of redemption, homestead, dower, and all other exemptions of the mortgagor, all of which are hereby
<br />expressly waived and conveyed to the mortgagee; or
<br />tut) take any other appropriate action pursuant to state or Federal statute either in etaie or Federal
<br />court or otherwise for the disposition of the property.
<br />In the event of a sale as hereinabeve provided, the mortgagor or any person in possession under the mortgagor ehafl
<br />then become and be tenants holding over and shall forthwith deliver possession to the purchaser at such sale or be
<br />summarily diapnAeeseed;"iti 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 eoiiection of said indebtedness provided by law.
<br />4. The proeeede of any_eale of.trttid property iaaeeordanee with the preceding paragnphe shell be appUed fint
<br />to pay the costs and ezpenses of said ask, the ezpeeees incurred by the mortgagee foe the purpose of protecting or main•
<br />twining said property, and reasonable aaorneys' fees; secondly, to pay the indebtedness secured hereby; and thirdly,
<br />to pay any surplus or exceee to the person or persons legally entitled thereto.
<br />5. In the event said property is sold at a judicial foreclosure sale or pursuant to the power of Bale heninabove
<br />granted, and the proceeds arc not eu8ieient to pay the total indebtedness eeeured by this inetrtrmeat and evidenced by
<br />said promissory pole, the mortgagee will be entitled to a deficiency judgment for the amount of the deficiency eeitFnttt
<br />regard [o nppnisement.
<br />6. In the event the mortgagor tails to pay any Federal, state, or local [ax assessment, income tax or other tax lien,
<br />Charge, fee, or other expense charged against the property, the mortgagee ie hereby authorized at his option w pay
<br />the same. Any some eo 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 terms and eunditiona. (f the mortgagor shall pav 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 coats, fete, and expenses of making, enforcing, and executing thin mortgage, then this mortgage
<br />ebill be canceled and surrendered.
<br />7. The wvenana heron congined shall bind and the benefits and advantages shall inure to the respective euc•
<br />casson and aeeigtu of the parties hereto. Whenever used, the singular number shall include the plural, the plan) the
<br />siagulu, and the tae of soy gender shall include all genden.
<br />8. No waiver of any covenant herein or of the obligation wound hereby shall at any time thereafter be held
<br />to be a waiver of tht terms hereof or of the note secured hereby.
<br />9. In compliance with section 101.1 (d) of the Rules and Regulation of the Small Businew Administration (13
<br />GF.R. IOI.1(d) ], this irts4ument is to be construed and enforced io accordance with applecabk Federal law.
<br />10. A judicial decree, order, or judgment holding any provision or portion of [hie instrument invalid or un•
<br />enforceable shall not in any way impair or preclude the enforcement of the remaining provisions or portions of
<br />this it~>:rament.
<br />aaA P~ti gtT fa-18) „p, _~• ~y,
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