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<br />-: 3. The mortgagor covenants and agrees that it he shall fail to pay acid inilebtedneee or any par! thereof when
<br />due; or shall fail to pertorni any covenant or agreement of this fnetrnment or the promie,wry• note secured hereby, the
<br />epfae indebtedness hereby secured shall immediately become due, payable, and collectible withou4'~natiee; a{ the
<br />_; option of the mortgagee or assigns, regardless of maturity, and the mortgagee or his assigns may before ur after entry
<br />-' eejl; said property without appraisement (the mortgagor having waived and assigned to the mortgagee all rights of
<br />appzaisement): -
<br />,:. I t 1 at judicial sale pursuant to the provisions of 28 U.S.C. 20011 a) ; or
<br />(n) at the option of the mortgagee, either by auction oe by solicitation of sealed bids for the bighestaed_
<br />best bid complying with the terms of Bale and manner of payment specified in the published notion of oak:, fast
<br />giving four weeks' notice of the time, terms, and place of such ease, by advertisement not leas than ona
<br />during each of said font weeks in a newspaper published or distributed in the county in which said pzoperty
<br />is situated, all other notice being hereby waived by the mortgagor (and said mortgagee, or any perwo 00
<br />behalf o[ said mortgagee, may bid with the unpaid indebtedness evidenced by said note). Said-sale shall ba
<br />held at or on the property to be Bold or at the Federal, rnunty, or city courthouse for the county in which the
<br />p:aY..rty is laested. The mortgages fe hereby suihoriacd to execute far and on behalf of the moztgagor sad to
<br />deliver to the purchaser at such Bale a eul6cieni rnnveyance of said property, which conveyance shall contain
<br />reeitala ae to the happening of the default upon which the execution of the power o[ Bale bellies granted
<br />depends; and the said mortgagor hercbp conetitutea and appoints the mortgagee or any agent or attorney of the
<br />mortgagee, the agent and attorney in fast of said mortgagor to make each recitals sad to ezecute said
<br />conveyance and hereby covenants and agrees that the recitals eo made shall be effectual tobar 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 />(ttt) take any other appropriate action pursuant to state or Federal statute either in orate or Federal
<br />court or otherwise for the disposition of the properly.
<br />In the event of a sale as hereinabove provided, the mortgagor or any person in possession ender the mortgagor shall
<br />then become and be tenants hc:ding over and shall forthwith deliver possession to the purchaser at such sale or 6e
<br />summarily dispossessed, in accordance with the provisions of law applicable to tenants holding over. The power
<br />and agency hereby granted are coupled with;:aq.iArereet'and are irrevocable by death or otherwise, and are granted
<br />as cumulative to the remedies for coileetian-o!`eiGid ~indebtedneae provided by law.
<br />4. The proeeede of any Bale of said property in accordance with the pretediog paragraphs shall be applied first
<br />to pay the coats and expemes of said Bale, the expenses incurred by the mortgagee for the purpose of protecting or main•
<br />raining said property, and reasonable attorneys' fees; secondly, to pay the indebtedness secured hereby; and thirdly,
<br />to pay any surplus ar excess to the person or persona legally enlitle~ theroto.
<br />S. Io the event said property ie sold at ^ judicial foreeloeurc Bale or punteaat is the power of sek herciteabove
<br />granted, and the proceeds arc not eu~cient to pay the total indebtedness eeeured by this inattement and evidenced by
<br />said promiawry ante, the mortgagee will 6e entitled to a deficfeaey judgment (or the amouoi oI the deficiency utit/wut
<br />regard to appraisement.
<br />6. In the event the mortgagor fails to pay any Federal, state, or local ta: 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 to pay
<br />the wens. Any some eo paid by the mortgagee elull be added to and become a pert of the principal amount of the
<br />indebtedness rvidenced 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 shall pay such Bums and shall discharge all taxes
<br />and liens and the costs, fees, and expetieea of making, enforcing, and executing this mortgage, then this mortgage
<br />shall be canceled and surrendered.
<br />7. The rnvenanu herein contained shall bind and the benefice and advantages shall inure to tha respective sus
<br />oetttors sad asdgm of the parties hereto. Whe.tever used, the singular member shall ieclede the plnnl, the plural the
<br />tfwirtlar, sad the use d any gender shall feclude all genders
<br />& No waiver of soy covenant herein or of the obligation secured hereby shall at any time theroafter be held
<br />to be a waiver of the terms hereof or of the note eectued hereby.
<br />4. Ia compliance with section 101.1 (d) of the Rules and Regulations of the 5mdi $osinces Adminiatntian (13
<br />C.F.R 101.1 (d) ), tltia imtrument is to 6e coaatrued sad en[orced ie accordance with applicable Federal law.
<br />10. A judicial decree, order, or judgment holding any provision or portion of this instrument invalid or un-
<br />enforceable shall nol in any way impair or preclude the enforcement of the remaining provisions or portions of
<br />thb fwernment,
<br />a:L Pazaz SaT iS-Tai t.P n +3a ]Ja
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