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<br />- 3. The mortgagor covenants and agceee that if he shall fail to pay said indebtedness or any part thereof when
<br />due, or shall (ail to perform any covenant or agreement of thin instrument or the promissory note secured hereby, the
<br />eiitim indebtedness hereby secured shall immediately become due, payable, and collectible without noticq at the
<br />option of the mortgagee or assigns, regardless of maturity, and the mortgagee or his assigns may before or after entry
<br />nett said property without appraisement (the mortgagor having waived and assigned to the mortgagee all rights of
<br />appraisement 1
<br />1 t I at judicial sale pursuant to the proviaione o(28 U.S.C. 2001 (a) ; or
<br />(u) at the option of the mortgagee, either by auction or by solicitation of sealed bids,`for the highest and
<br />best bid complying with the terms of Bale and meaner of payment epeeified in the published aotia of Bale, fist
<br />giving Four weeks' native of the time, terms, and place of such sale, by advertisement not lees than once
<br />during each of acid four weeks in a newspaper published or distributed in the county in which said property
<br />ie situated, ail other notice being hereby waived by the mortgagor (and said mortgagee, or any penoa oa
<br />behalf of esid mortgagee, may bid with dte unpaid indebtedness evidenced by said outs). Said Bale shall 6e
<br />held at or on the property to be Bold or at the Federal, county, or city courthouse for the comty in which she
<br />property is located. The mortgagee is hereby authorized to execute for and on behalf of the mortgagor and to
<br />deliver to the purchaser at ouch sale a sufficient conveyance of said property, which conveyance shall rnataia
<br />recitals ae to the happening of the default upon which the ezeeution of the power of yak herein granted
<br />depends; and the said mortgagor hereby ronetitutea and appbinta 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 execute said
<br />conveyance sod hereby covenants and agrees that the recitals eo made shall be effectual to bar dl equity or
<br />right of redemption, homestead, deweq and all other exemptions of the mortgagoq all of which one hereby
<br />expressly waived and conveyed to the mortgagee; or
<br />f m 1 take any other appropriate action pursuant to state or Federal sta_ tyte eitFier.. in slate or Federal
<br />court or otherwise for the disposition of the property. - -
<br />In the event of a sale as hereinabove provided, the mortgagor or any person intpo- ~e)6QetNy~t~`u~`e+i%tfie mortgagor shall
<br />then become and be tenants holding over and shall forthwith deliver possesaio4 to-lhE purchaser at each sale or be
<br />summarily diapowvesaed, 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 />u cumulative to the remedies for collection of avid indebtedness provided by law.
<br />d. The proceeds of any wle of said property in accordance with the preceding paragraphs shall be applied Snt
<br />to pay the cost and expenses of said sale, the ezpeneea incurred by the mortgagee for the purpose of protfcting or mafa•
<br />taming said property, and reaaonablc attorneys' lees; secondly. to pay the indebtedness secured hereby; and thirdly.
<br />to par any surplus nr excess to the person or persona legally entitled thereto.
<br />5. In the event said property is sold at c judicial foreclosure sale or puruuant to the power of Bale hereinabove
<br />granted, and the proceeds arc not sufficient to pay the total indebtedner secured by this imtrument and evidenced by
<br />said promissory Date, the mortgagee will be entitled to s deficiency judgmem for the amount o! the defuiency taitltaut
<br />regard /o appc+aiaement.
<br />6. In the event the mortgagor (ails to pay any Federal, state, or local tax aeeeaemem, income tax or other tax lien,
<br />charge, fee, or other a:panne charged against the property. the mortgagee is herebv uutharized at his option m pa.
<br />the acme. Any some so paid 6y the mortgagee shell be added to and become a part of the principal amount of the
<br />indebtedness evidenced by wid note.. suhject to the same terms and ronditimts. If the mortgagor shall pay sod
<br />disehargr the indebtedness evidenced by said prmniaaory note, and shall pay such sums and shall discharge all taxes
<br />and liens and the costa, fees, and expenses of making, enforcing, and executing dos mortgage, then this mortgage
<br />shat! be canceled and surrendered.
<br />7. The covenants heroin contained shall bind and the benefits and advantages shall inure to the respective sno-
<br />ceron and assigns of the partia hereto. Whenever used, the singular number shall include the plura4 the plttnl the
<br />aftigttlaq and the tree of nag gender ahrl! ittelnde ail genders.
<br />& No waiver o[ any covenant herein ar of the obligation secured herebv shall at any time thereafter be held
<br />to be a waiver of the terms hereof or of the note securod herebv.
<br />9, in compliance with eeetion 101.1 ldj of the Rules and Regulations of the Smell $usiads Adminis[ntioo [33
<br />C.F.R 101.1(d) J, thin itatrumeat ;• to be eoastrued and enforced in accordance with applicabk Federal law.
<br />f0. A judicial decree, order, or judgment hotdiag any provision or portion of this instrument invalid or um
<br />enforceable shall not in any way impair or proclude the enforcement of the remaining provisions or portions of
<br />this instrument.
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