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80.-X04`"71 _ .
<br />-_.3. The mortgagor covenente end agrees than if he shall fail to psy eaid_indebtedrea or any part thereof when-
<br />-_ dice: or shall fail to perform any covenant or agreement of this instrument or the promissory note secured herby, the
<br />entire 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 hie assigns may before Drafter egtry
<br />xlt`aaid property without appraiaement (the mortgagor having waived and assigned to the mortgagee all rights of
<br />appraieement 1
<br />_ 1 t 1 at judicial sale pureuant to the provieione of 28 U.S.f,. 2001(x) ; or
<br />(u) at the option of the mortgagee, either by auction or by solicitation of seabed bids, for the highest and:
<br />bat bid complying with the terms of Bale and moaner of payment specified in the published notice of Bale, feat
<br />giving four weeks' notice of the time, terms, and place of ouch sale, by advertisement not lees than once
<br />during each of said four weeks in a newspaper published or distributed in the wanly in which enid property
<br />,v situated, ail other notice being hereby waived by the mortgagor (and said mortgagee, or any ptntaq on
<br />behalf of said mortgagee, may bid with ilm unpaid indebtednea evidenced by rid note). Said sale shall be
<br />held at or oo the property to be Bold or at the Federal, sourly, or city courthouse tot the county in which the
<br />property u located. The mortgagee ie hereby authorized to execute (or and on behalf of the mortgagor and to
<br />deliver to the purchaser at such sale a sufficient conveyance of enid property, which eoaveyanee shall eontaiq
<br />recital as to the happening of the default upon which the execution o[ the power of sale henin granted
<br />depends; and the Said mortgagor hereby rnnstituta and appoints the mortgagee or any agent or attorney of the
<br />mortgagee, the agent and attorney in fact of said mortgagor to make each recitals and to execute said
<br />conveyance and hereby covenants and agrees that the recitals eo made shall be effectual to bar all equity or
<br />right of redemption, homestead, dower, and all other exemptions of the mortgagor, ail of which are hereby
<br />expressly waived and conveyed to the mortgagee; or
<br />lull take any other appropriate action purouant to state or Federal ntaaute either in state or Federal
<br />court or otherwise (or the disposition of the property.
<br />to the event of a3ate-as-hereiitxbovr provided, the mortgagor or any Iterson in possession under the mortgagor shall
<br />then become and 6e trtianta holding over and shall forthwith deliver poeaeaion to the purchaser at each sale or be
<br />summarily diapdssessed, in aceordance with the provieione of law applicable to trnante holding over. The power
<br />and agency hereby granted are coupled with an interest and are irrevocable by death ur otherwise, and are granted
<br />ae cumulative to the remedies for collection of said indebtedness provided by law,
<br />4. The proceeds o(my ale of aid property in accordance with the preceding pangnpha shall be applied tint
<br />to pay the casU and ezpeneca of said sak, the expenses incurred by the mortgagee for the purpose of protecting or main-
<br />talning said proprrty, and reasonable attornevy frra; srroundly, to pa}' the indebte+lneas ereurrd hereby; and thirdly.
<br />to pay any surplus or excess to the person or prreone legally entitled thenta.
<br />5. In the event aid proprrty is Bald at a judicid foreclosure sale or punuanl to the power of ale hercinabove
<br />granted, and ills proceeds are not wffirient to pay the total indebtedness secured by thin instrument and evidenced by
<br />aid promissory note, the mortgagee wil3 ba entitled to ~ deficiency judgment for the amount of the deficiency withostt
<br />ngvd to sppniserrtent.
<br />5. In the event the mortgagor (ail to pay any Federsl, stutr, nr local tax aseceement, income taz or other tax lien,
<br />charge, frr, or other exprrue chargcvl against the property, the nwrtgagrt is hereby authorised at hie option to pay
<br />the same. Any earns so 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 eamn terms and conditiane. 1f the mortgrgor shall pay aqd
<br />discharge the indebtrdnru evidenced by said promissory note, and shall pay rush rums and stroll disehargr all sizes
<br />and lien and the ewes, fees, and expenses of making, enforcing, and executing thin mortgage, then this mortgage
<br />shall 6e canceled and surrendered,
<br />T. The covenan4 henin contained shall bind and the benr6d and advantages ahdl iqure to the respective sus
<br />cessnn and assigns of the parties bents ~hettever used, the sutguhtr number shall include the plum, the plant the
<br />alttEttlar, and Noe ease of any g~der shall include all gertderr.
<br />6. No waiver of any covenant henin or of the obligation seeursd heroby shall at say time thereafter be hold
<br />to be a waiver of the terms hereof or of the note second herrbv.
<br />9. In ewopliagce with section 101.1(d) of the Ruler and Regulations of the Small Businew Admiaistratioa (I3
<br />GF.R. 101.1(d) j, this instrument is to be eogstrued and enforesd in aeeordsnes with appliabla Fedenl law.
<br />10. A judicid detree, order, or judgment holding any provision or portion of this inserument invalid ar un-
<br />enforces6le shall not in any way impair or preclude the enforcement of the rcmaieing provision or portions of
<br />eh& igsuument.
<br />son r... on la-tat
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