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-- 3. The mortgagor covenants and agrees that if he shall fail to pay said indebtedrteee or any pan thereof when i <br />due, or shall fail to perform any covenant or agreement of this inetromem or the promissory note secured hereby, the;: <br />edtire indebtedness hereby secured shall immediately bernme due, payable, and collectible without notice, at the ~. <br />option of the mortgagee or esnigna, regardless of maturity, and the mortgagee or his assigns may before or after carry <br />seU'esid property without appraisement (the mortgagor having waived and assigned to the mortgagee all rights of <br />appraisement 1 <br />- i t) at judicial sale pursuant to the provisions of 28 U.S.C. 20011 a) ; ar <br />(u) at the optim of the mortgagee, either by auction or by wlicitation of sealed bids,~for the 6igheat sad' <br />best bid complying with the terms of Bale and manner of payment specified in the published aotix of axle, frtsf.' <br />giving four weeks' notice of the time, terms, and place of such sale, by advertisement not lem than dntx--- <br />daring each of said tour wreke in a newspaper published or distributed im the county in which said property.--- <br />ie situated, all other notice being hereby waived by the mortgagor (and said mortgagee, or aay,.perwa ou' <br />' behalf of said mortgagee, may bid with the unpaid indebtedness evidenced by said note). Said soh: shall btt <br />held at or on the property to be sold or at the Federal, county, or city counhoux for the county ie'whieh the <br />properly is located. The mortgagee ie hereby authorized to execute Ior and on behalf of the mortgjaaor and tIF <br />deliver [o rite purchaser at such Bale a sufficient conveyance of said property, which conveyance aliill contain <br />recitals as to the happening of the default upon which the a:eculion of the power of cab herein granted <br />depends; and the said mortgagor hereby constitutes and appbints 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 execate acid <br />conveyance and hereby covenanU and agrees that the recitals a made shall be effectual to bar all t:gnity or <br />right of redemption, homestead, dower, and all other exemptions,nf themortgago4 all of which are hereby <br />expressly waived and conveyed to the mortgagee.; or '~ <br />furl take any other appropriate action pununnt.to state or Federal statute tither in state or Federal <br />court or otherwix for the disposition of the propert}'. <br />In the event of a sale as hercinabore provided, the mortgagor or any person in poreession under the mortgagor shaft <br />then become and be tenants holding over and shall forthwith deliver possession to the purchaser at such Bale or 6c <br />summarily dispossessed, in accordance with the provisions of law applicable to tenants holding over. The power <br />and agency hereby granted ere coupled with an interest and are irrevocable by death or otherwise, and arc granted <br />as eumnlativc to the rcmediea for coiicction of said indebtedness provided 6y law. <br />4. The proceeds of any sale of utid property in accordance with the preceding pangnpha shall be applied first <br />to pay the costs aad expetuira of said sob, the a:penaea incurred by the mortgagee for the purpose of protecting or ttaafa• <br />twining said property, and rcarunable atrorrn:yi fee: secondly, to,pay the~.indebtednrw secured hereby: and thirdly. <br />to pay an}° surptut or excess ro the person or persona legally eaaeitled thereto. <br />5. In the event said property is sold at a judicial fomlosure sale or pttnwnt 4o the power of sak• hereiaabove <br />granted, and the proeee+L arc trot sufGeient to pay the total iadebtedneas eeCUrofl by this inairttmeat aad evidenced by <br />acid promissory note, the mortgagee will be entitled to w deficiency judgment for the amount of the deficiency without <br />ngvd ro sppreisrment. <br />6. In tiro event the mortgagor fails to psv goy Frtleral, state, or lueal tax aseeaentent, income tax or other tax lien, <br />charge, ire. or whrr rxpen.e charged against the property, the murtgager is hereby authorised at hie option to par <br />the acme. Any sumo eo paid by the mortgagee shall he added to and become a part of the principal amount of the <br />indebtedness evidenced by said note, subject to the same terms and conditions, II the mortgagor shall pay and <br />dixharge the indrbtednras evidenced by said promissory nose, and shall pay each sums and shall discharge all Uzea <br />and Geri and the cwb, tees, and ezpensw ui making, enforcing, and executing thin mortgage, then thu mortgage <br />shaft he canceled and surrendered. <br />7. 't'its covenanu hen+in rantrined shill bind and the benefiu and advmtrgea shalt inuro to the rapeetire Ara <br />tgwon and aaaigru of the panic hereto. Rrltettever used, the singular ntttatber shah iacluda the plural, the plnnl tba <br />tiaptlar, aad the rue of say gender shall iacluda aU geaden <br />& No waiver of any revenant herein or of the obligation secured hereby shall a! any time thenalr~r be bald <br />to be a waiver at the terms hereof or of the note secured hereby. <br />9. la canplianee with section 101.1 (d) of the Rules aad Regulation of the Small Buaiaew Adminiatratioa [ i3 <br />GF.R. 101.1 (d) J, rho ianrrtment u to be eoaprued and enforced iA aernrdanee with applicable Federal law. <br />10. A jndicid decree, order, or judgment holding any provision or portion of Ihia instrument invdid or un- <br />eafetreabla shall not in any war impair or preclude the eniorcrment of the remaining provitietta ar portion of <br />thi. inttument. <br />sas r... nt tk»r <br />