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<br />80-(} i~ ~ ~3 ::3 `7
<br />3. The mortgagor covenants and agrees that if he shall fail to pey said indebtednese or any part thereof when
<br />dap or shall fail to perform any covenant or agreement o[ this instrument or the promieeory note eceured hereby, the
<br />entire indebtednem 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 his assigns may before or after entry
<br />selGsaid properly without appraisement (the mortgagor having waived and assigned to the mortgagee all right of
<br />appnisement l
<br />U 1 at judicial sale puruuant to the provisions of 28 U.S.(:. 2W1(a) ; or
<br />(u) at the option of the mortgagee, either by auction or by solicitation of eeakd bida,•for the highe« and
<br />best bid complying with the terms o[ sale and manner of payment specified in the published notice of ale, fast
<br />giving four weeks' notice of the time, terms, and place of such sale, 6y advertisement no! less than ontx
<br />during each of said four weeks in a newspaper published or distributed in the county in which acid. property.
<br />is situated, all other notice being hrreby waived by the mortgagor (and said mortgagee, or any person m.
<br />' behalf a( said mortgagee, may bid with the unpaid indebtedness evidenced by said note). Said axle shall he
<br />held at or on the property to be sold or at the Federal, county, or city courthouse for the county in which the
<br />property is located. The mortgagee ie hereby au[ho rized to execute for and on behdf of the mortgagee and to -
<br />deliver to the purchaser at ouch sale a sufficient conveyance of said property, which conveyance shall contaia--
<br />recitals u to the happening of the default upon which the execution of the power o[ axle herein granted
<br />depends; and the said mortgagor hereby constitutes and appbinta the mortgagee or any agent or atotney of the
<br />mortgagee, the agent and attorney in fact of said mortgagor to make each recita4 and to execute said
<br />conveyance and hereby covenanU and agrees that the recitals so made shall be effectual to bar all equity or
<br />right of redemption, homestead, dower, and all other exemptions of the mortgagor, aH of which ere hereby
<br />expressly waived and conveyed to the mortgagee; or
<br />1 ut) take any other appropriate action pursuant to state or Federal statute either in state or Federal
<br />court or otherwise for the disposition of the property. - - ~ - -' --
<br />In the event of a sale as hercinebove provided, the mortgagor or any-pereemin p'oesession under the mortgagor shall
<br />then become and be tenants holding over and shall forthwith deliver possession to the purchaser at such sale ar be
<br />summarih' dispossessed, 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 irrcvocabk 6y death or otherwise, and are granted
<br />u cumulative to the remedies for coiiection of said indebtedness provided by law.
<br />4. The proceeds of any sale of wid property in accordance with the preceding paragnphs shall be applied first
<br />to pay the cosu and expenses of acid sale, the expenses ineurnd by the mortgagee for the purpose of protesting or tnaiu•
<br />raining said proprrtr, and reasonable attornrya' fees; secondly, w pav the indebtednea eecurni herebr: sad third-r,
<br />to pay any surplus or excess to the person or person legally entidixl theroto.
<br />S. Io the event aid properly is wld at a judicial foreclosure ale or punttaat to the power of sale heteitsabore
<br />gnnted, and the proceeds arc not rulkcient to pay the total indebtedner .scared by thin iwtrument and evidenced by
<br />said promissory note, the mortgagee will be entitled to s deficiency judgment for the amount of the deficiency rsritAstnt
<br />rsgsvd to apprsiixnient.
<br />6. In the event the mortgagor fails to pay any Fnlrral, state, or local tax a+srasmrnt, income tax or other tax lion,
<br />charge., (rr, er other expense chargm} against the property, the mortgagee is hereby audroriaed at his option to par
<br />flee ume. Aor sums so paid by the mortgage shall be added to and 6eeome a part of the principal amount of the
<br />indehtednras evidenctvl by said note, subject Io the name terms and tmndition+. If the mortgagor tlhall pay and
<br />disehrrgr Ihr indrbtrdnrsa rvidrin»d by said promissory no1r, and shall pay such sums and shall discharge all to:ea
<br />and liens and the costs, Errs, anJ rxfienses of making, enforcing, and r:eeuting thi. mnrtgage, than this mortgage
<br />shall bs rsneeled and tlurrmdrrcd.
<br />7, The covenanu herein eonuined shall hind and the bearfiu sad rdvaatagaa shall iouro to the ttsrpealire sue.
<br />season and assigw of the parties hereao.lVltawver rued, the singular nutaber shall iaxlude the phtnl, the pltud the
<br />afagnhtr, sad tba use ~ any gender dealt incltrda atI gaadon.
<br />g. No wairsr of any eavenant herein or of the obligation ssatired hereby shall at any time therrafirr I+r held
<br />to ha a waiver of thn terms herw[ or of the note secured hereby.
<br />9. In romplianee with section l0l.l Cd) of the Rules and Regulatiow of the Small Busiaess Adminutr«iae (la
<br />C.F.R. 301,1 (d} }, this inatramsnt is to be ronetrued and enforced in accordance with applicable Fetknl law.
<br />10. A judicid decree, order, or judgment holding any prorisiun or portion of this in.trument invalid ur un•
<br />enforceable .hall not in any way impair er preclude the enforcement of the remaining providau or partiom of
<br />thin isuuttpaent.
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