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<br />• 3. The mortgagor covenants and agrees that if he shall [ail to pay said indebtedness or any part thereof when
<br />due, or +hall fail to perform any covenant or agreement of this instrument or the promissory note secured hereby, 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 his assigns may before or after entry
<br />eel) said property without appraiaement Ithe mortgagor having waived and assigned to the mortgagee all rights of
<br />appraiaement)
<br />i t 1 at judicial salt pursuant to the provisions of 28 U.S.C. 2001 I a) ; ar
<br />(uj at the option of the mortgagee, either by auction or by solicitation of xaled bids,'for the highdt and
<br />Lest bid complying with the terms of Bale and mamer of payment specified in the published notice of sak, lust
<br />giving fmtr wreka' notice of the time, terms, and place of such Bale, by advertisement not leas than once
<br />during each of said four weeks in a newspaper published or distributed in the county in which said property
<br />• n situated, all other notice being hereby waived by the mortgagor (and said mortgagee, or any person m
<br />behalf oC said mortgagee, may Lid with the unpaid indebtedness evidenced by said note). Said Bale shill be
<br />held a! or on the property to be sold or at the Federal, county, or city courthouse far the cotmty in which thx
<br />property ie located. The mortgagee ie hereby authorised to exceme for and on behalf of the mortgagor and to
<br />deliver to the purchaxr at such Bale a sufficient conveyance of said property, which conveyance stall eonuin
<br />recitals ss to the happening of the default upon which the execution of the power of safe berein granted
<br />depends; and the said mortgagor hereby constitutes and appbintn the mortgagee or any agent or attorney of Ute
<br />mortgageq the agent and attorney in fact of said mortgagor to make such recitals and to execute acid
<br />conveyance and hereby covenants and agrcre that the recitals sa made shall be effectual to-bar all equity or
<br />right of redemption, homestead, dower, and all other exemptiorta of the mortgagor, all of 'which are hereby
<br />expreseh~ waived and conveyed to the mortgagce; or
<br />tuft take am other appropriate action purnuant to xtate or Federal statute either in state or Federal
<br />court or otherwise for the disposition of the property. ~ ~ - - ~ ---
<br />In the Trent of a sale as hereinabove provid: d, the mortgagor or am peremf in posseisinnuntler the;,anortgrtgorahall
<br />dren become and be tenants holding over and shall forthwith deliver posxaeion to the purchaxr at such sale or be
<br />summarily disposxesed, in accordance with the prmiaions of law applicable to tenants holding over. The power
<br />and agency hereby granted are coupled with an interest and are irrevarublc by death or otherwise, and are granted
<br />as cumulative to the remedies fur collection of said indebtedness provided by law,
<br />4. The proceeds of any sde of said propertr in accordance with the preceding paragraphs shall fie applied first
<br />to pry the casts and expeusn of said sale, the expenses incurred by the nrortgagce for the purpose of protecting or main•
<br />taininq sail prnpertv, and tray>nahlr ateorney=" free: s«rendly, to pay tb« ind«bicdnrss zevurcd hereby; and thirdly.
<br />to pay any surplus or excres to the lxrrsnn or per»tms legally rntilled thereto.
<br />5. In the event acid property is sold at • judicial forerlwure sale or pursuant to the power of isle hereiaabove
<br />granted, and the proceeds are not mlFicient to pay the total indebtcdnea secured by this instrument and evidenced by
<br />wid promiawry Hole, the mortgagee will be entitled to a defieieney judgment far the smoune of the deficiency withast
<br />regard to apprriaernsvst.
<br />6. In the rv«n1 the mortgagor fails w puv ana Federal, .talc, or local taz asxsemrnt, income tax or athrr tax lien,
<br />charge, frr, or odtrr rzp«nse rharg<d againe! the pny,rrty, the nuxtgager is hrn•h+' authoriz«d a1 file option w pay
<br />the same. Any .urns w paid by the mortgagee shall be added n. and b«comr a part of the principal amount of the
<br />indebtedursa rvidcnr«+1 by said nuts- subject to the some terms and cnnditious. If the nu,rtgagnr shall pav and
<br />discharge the indnbtrdorss rvideur«d by .aid promissory nuu•, and ehull pay sorb sums and shall d'+schargn all taxes
<br />and liana dad IhM CUata, frra, and «xp«ruuM of making, enforcing, and rxeeuting Ibis nmrtgage, thin this mortgage
<br />shall be canceled and surremlrred.
<br />7. 'Phe revenants heroin contained shall bind and the, 4cn«fit. and advantegea shall inure to the respective suc•
<br />anaon and asrigeu of the psrtie. hereto. R'honcver used, the singular numLer shall include the plural, ttw plural the
<br />sing-islet, ami the era of say gsndsr stall inriudn ail genders,
<br />fk No waiver of am covenant herein nr of the obligation secured hrrebr shall at uny time thrrrafter 6c bald
<br />to fie a waiver at the term. hareot or of the Hatt etxured hereby.
<br />9. in compliance with arelion 101.1 Id) e! the Nulea and Regulation. of the. Small Huaineu Adminiuratioa [ l3
<br />C.F.R. 101.1(dj j, this inutrument is to be construed and enforced in sccordance with applicable Federal law.
<br />10. A judtcial sfecrm, order, or judgment holding any prnviaion ar portion at this last rumanl invalid or un-
<br />euforceabls shall not in my way impair or preclude the enforcement of du remaining provisions nr portiorn of
<br />this inetntmcnt.
<br />sea r.r~ car ta-n1
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