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<br />- 3. The mortgagor cavenante and agrees that if he shall fail to pay paid indebtedness or any part thereof when
<br />dtie. or shall fail to perform any covenant or agreement of Chia instrument or the promissory note assured hereby, the
<br />entYe indebtedness hereby secured shall immediately become due, payable, and collectible without notice, st the
<br />option of the mortgagee or assigns, regardless of maturity, and the mortgagee or his assigns may btforeor aher entry
<br />sell said property without appraisement (the mortgagor having waived and assigned to the mortgagee all rights of
<br />appraisement 1
<br />I t 1 a[ judicial salt pursuant to the provisions of ZS U.ti.(;, 2001 (a) ; or
<br />(u) a1 the option of the mortgagee, either 6y auetioo or by eolieiution of sealed bids,~tor the highest and
<br />best bid complying with the ternte of sale and maoutr of payment specified in the published twtitt of rle, brat
<br />giving four weeks' notice of the time, terms, and plnce of wrh sate, by advertisement not lees than ontt
<br />during each of said four weeks in a newspaper published or distributed in the county in which avid property
<br />is situated, all other notice being htreby waved by the mortgagor (and rid mortgagee, or any person on
<br />behalf of said mortgagee, may bid with the unpaid indebtedness evidenced by said note). Said ale shall be
<br />held at or on the property to be Bold or at the Federal, county, or city courthouse for the county in which the
<br />property ie located. The mortgagee ie hereby authorized to execute for and on behalf of the mortgagor and to
<br />deliver to the purchaser at such sale a sufficient conveyance of said properly, which conveyance shall contain
<br />reciLle r to the happening of the dttault upon which the execution of the power of Bale 6ertin granted
<br />depends; and the said mortgagor hereby ttnetitutes and appbinte the mortgagee ar any agent or attorney of the
<br />mortgagee, the agent and attorney in fact of said mortgagor to make such recitals and to execute said
<br />conveysntt and hereby covenants and agrees that the recitals 9o made shall be eHeclua- to bar all equity or
<br />right of redemption, homestead. dower,antl.all.other eaemptione of~the mortgagoq all of which are hercbq
<br />expressly waived and conveyed,-4o Nie'rireRth+a ;'~er• `--
<br />hn) take any other ap(~ropl~'iabtlcKsn+purtatewtsW etsitt or Federal statute either in state ar Federsl
<br />court or otherwise for the disposition of the property.
<br />In the event of a sale as hereinabovr provided, the mortgagor or any person in possession under the mortgagor shall
<br />then become and be tenants holding over and shall forthwith deliver possession w the purchaser at sash Bale or be
<br />summarily diepoeseesed, 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 6y death or otherwise, and arc granted
<br />r cumulative to the remedies for coilertion of paid indebtedness provided by law. -
<br />4. The proceeds of any salt of acid properly in attordancr with the. preceding paragraphs ehsll be applied tint
<br />W pay the ewes and expenses of said sale, the expenses incurred by the mortgagee for the purpose of protesting or mafa-
<br />taning said property, and reasonable attororvs' tern: errondly, to pay the indcbtednran secure=1 hereby; and thirdly,
<br />M pay any surplus or excess to the person or perwns iegaUy entitled Iltrrcto.
<br />5. In the event aid property u pld at • judiei.. ~reclwure salt or pursuant to the power of rk hereinabore
<br />granted, and the proceeds are not wHicient to pay tr total indebtedner seeurcd 6y this itutrument and evidenced 6y
<br />rid promiewry note, the mortgagee will be entitled to ~ deficiency judgment for the amount of the dejfrienty tsithotu
<br />regavd to sppnisement.
<br />h. In the evenl der mortgagor tails to pay any Fadrral, state, or Inca) tax ass.,semrnt, income tax or other tax lien.
<br />charge, (rr, ar other rxpen^r charged ag^irtnt the property, the mortgagee in hereby authorised al his option w pay
<br />the rms. Any sums ao paid by the mortgagee shall be added to and become a part of the principal amount ut the
<br />indeblednr s evidenred hr said note, subjtet to eht same terms and rtmditiune. If ehr. nutrlgagur shall pay and
<br />diathuga ehr indebtedness evidenced by nail promissory note, and shall pay surh puma amt shall discharge all taxer
<br />and liens and ehr, ewes, lets, an+1 expenses of making, enforcing, and executing this mortgage, then thi^ mortgage
<br />shall be canceled and wrrcndrrrd.
<br />7. The covtnanu herein contained anal) bind and the benefits and advantage .hall inure to the roapettive we.
<br />txtsaon and assigns of the parties hereto. phenever used, the singular ntrmber shall inehtda the phtnl, the plwal the
<br />singuhlr, and the use ~ aqy gsnder shall tneluda alt genders.
<br />6. Na waiver of any covenant herein or of the obligation secured heroby shall at any Ume thertatter 6e held
<br />to be a waiver of eho terms heroot ar of the note secured hereby,
<br />4. to compliance with section 141.1(d) of the Ru4v and Regulations nt the Smsll 8uainer Administtatitm (lr
<br />C.F.R. 101,1(d) j, ehb irrirument is to be construed and enforced in accordance with applicable Federal -aw.
<br />lit. A judiaid decree, order, or judgment holding any previsimt or portion of this instrument inwlid or ua•
<br />enforceable shalt not in arty way impair or preclude the entoreemant of the remaining proritiom or portions of
<br />this instntment.
<br />aaa rY.n Yet la-Til r r„ ~ ~.~
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