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80- 'f.:,
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<br />3. The mortgagor covenants and agrees that if he shall fail to pay said indebtedness or any part thereof when
<br />Jae; or+hall fail to perform any covenant or agreement of this instrument or the promissory note secured hereby, the
<br />entire indebtednew hereby secured shall immediately become due, payable, and collectible without notice, at the
<br />option of the mortgagee or assigns, reganllesa of maturity, and the mortgagee or his assigns may before or after entry
<br />eels-said property without appraiaement (the mortgagor having waived and assigned to the mortgagee all rights of
<br />apprafaement 1
<br />I ~ 1 at judicial sale pursuant to the provisions o(28 U.S.f:. 20011 a) ; or
<br />(u) at the option of the mortgagee, either by auction or by solicitation of sealed bidy'for the highest wd
<br />best bid complying with the terms of Bale and manner o[ payment specified is the published notix of ale, tint
<br />giving (our weeks' notice of the time, terms, and place of each Bale, by advertisement not less than ona
<br />during each of said four works in a newspaper published or distributed in the county in which aid property,
<br />is situated, all other notice being hereby waived by tho mortgagor (and aid mortgagee, or any penou ~
<br />behalf o[ said mortgagee, may bid with the unpaid indebtedner evidenced 6y aid note). Said ak shall be
<br />held at or on the property to be sold or at the-Federal, county, nr city courthouse [or the county in which the
<br />property is located. The mortgagee is hereby authorized to extcute for and on behalf of the mortgagor sad to
<br />deliver to the purchaser at ouch sale a sufficient conveyance o[ rid property, which conveyance shall contain
<br />recitals r to the happening of the default upon which the ezecution of the power o[ ale herein granted
<br />depends; and the said mortgagor hereby constitutes and appoints the mortgagee or any agent or attorney of the
<br />mortgagee, the agent and attorney in [act of said mortgagor to make each recitals sad to ezeeute said
<br />conveyance and hereby covenants and agrees that the recitals so made shall he e$ectual to bar dl equity or
<br />right of redemption, homestead, dower, and all other exemptions of the mortgagoq all of which are hereby
<br />expressly waived and conveyed to the mortgagee; or ~I.
<br />(ut) take any other appropriate action pursuant to state or Federal etautte either in state or Federal
<br />court or otherwise for the disposition of the property.
<br />In the event of a sale an hereinabore provided, the mortgagor or any person in poMesnion under the nmrtgagor shat!
<br />then become and be truants holding aver and aS~all forthwith deliver possession to the purchaxr at each sale or be
<br />summarily diaposseaxd, 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 fur coilertion of acid indebtedness provided by law.
<br />4 The proceeds of any ale of aid property in accordance with the preceding parttgnpha shall be applied first
<br />to pay the rose rod expanses at acid sale, the expenses incurred by the mortgagee for the purpose of protecting of main-
<br />taining acid proprrt y, and reasonable altornrye' (era; aeeandly, [p pay the indebtedner secured hereby; and thirdly,
<br />to pay any wrplus or exeer to the person or perwrm legally entitled thereto.
<br />5. In the event aid property ie sold st a judieia9 [oreelosure sale or pursuant to the power of rk heroittabove
<br />greeted, and the proceeds are not ml6eient to pay the total indebtedner secured by this instrument and evidenced 6y
<br />rid promissory note, the mortgagee wiH be entitled to a deficiency judgment fur the amount of Ehedejicienry ritAonf
<br />regard to appraiaement.
<br />6. In the event the mortgagor [ails to pay any Fedrrai, state, or local tax agreement, income tax or other to:lion,
<br />charge. tee, or other rxprnae charged againrt the property, the mortgagee is 6rrrby authorised at his option W pry
<br />the acme. Any sums sa paid by the mortgagor stall be added to and become a part of the principal amount of the
<br />indrbtednras nvidrnred 6y said note, auhject to the same trrnu and ronditiona. if the, mortgagor shall pay mJ
<br />dtachargn the indrbtwlnrss rvidracrd by said pnnnigory rants, and shall pay such sums uml shalt dieahnrge all fazes
<br />and liens and the costa, tyre, and rxpenane of making, roforcing, and «zorwing this mortgage, than thin mortgage
<br />shall be catrrelr~l and aurrnndarrd.
<br />7. 'the covraMltu heroin curtained shall bind and the benefits and advantage shall inure to the respective aue•
<br />oessan and aaaigtu of the partie hereto. R'hettever used, the singular number shall include the plural, the plural the
<br />siegttlar, end the usaof any gander shslf incltes!a al! geadeta.
<br />8. No waiver of any covenant herein ar of the obligation secured heroby shall rt any lima thrrrdter he held
<br />to fie a waiver of the terms hareat or a( the notes seeurad hereby.
<br />9. IncampliamrowithretioatOl.tfd}of the Rule~md Regulations of the Small 8witter Admiaiatniiou )19
<br />C.F.R. 101.1(d) j, thin inatroarent is to fie cottrrued and enforced in accordane with applieabb Fodenl law.
<br />fU. A judicial daeree, order, or judgment holding any provision or portion ut this instrument invalid ur utr-
<br />eatareaabk shelf met in any wry impair or preclude the enforcement of the remaining provisiom or portiom of
<br />This imtntment.
<br />aY Pars ire lMial ",. .„ i.~
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