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<br />3. The mortgagor covenants and agrees that it he shall fail to pay said indebtedness or any pan thereof when
<br />titre. or +hal1 fail to perform any covenant or agreement of thin instrument or the promissory note secured hereby, the
<br />ehlire indebtedness hereby secured shall immediately become due, parable, and collectible without notice, st the
<br />option of the mortgagee or assigns, regardlees of maturity, and the mortgagee or his assigns may before or after entry
<br />sdl said property without appraisement (the mortgagor having waived and assigned to the mortgagee all rights of
<br />appnisement 1
<br />III at judicial sale pursuant to the provisions of 28 U.S.C. 2(X11 (a) ; or
<br />(tt) at the option of the mortgagee, either by auction or by solicitation of xaled bide; for the highest sad
<br />best bid complying with the terms of Bale sad manner of payment specified in the published nodes of wle. final
<br />giving tour weeks' nosier of the time, terms, and place of such sale, by advertisement not Ices than once
<br />during each of said four weeks in a newspaper publiehell or distributed in the county in which said property
<br />is situated, all other notice being hereby waived by the mortgagor (and said mortgagee, or say ptuaoa oa
<br />behalf of said mortgagee, may bid with the unpaid indebtedness evidenced by said note}. Said axle shill be
<br />held at cr ov the property to be Bold or at the Federal, county, or city connhoux for the county in which the
<br />property is located. The mortgagee ie hereby authorised to execute for and on behalf of the mongagor anti to
<br />deliver to the purchaser at ouch Bale a sufficient conveyance of said properly, which conveyance shaA eoetain
<br />recitals as to the happening o[ the default upon which the execution of the power of sale herein granted
<br />depends; and the said mortgagor hereby constitutes and appoints the mortgagee or any agent or attorney of the
<br />mortgagee, the agent and attorney in fact of said mortgagor to make such recitals and to a:eeuu said
<br />eonveyaare and hereby covenan4 and agrees that the recitals so made shall be effectual to bar ~Il etpai[y or
<br />right of redemption, homestead, dower, and all other exemptions of the mortgagoq all of which are hereby
<br />expressly waived and conveyed to the mangagee; or
<br />I ut 1 take any other appropriate action pursuant to state or Federal statytte-,eitTi4r. fn state or Federal
<br />court or otherwise far the disposition of the properly. . _ ~ -
<br />In the event of a sale as hereinabove prorided, the mongagor or any person in ~osttfie mongagor shall
<br />then become and be tenants holding over and shat! forthwith deliver possessioR=to-rhF purchasrr at such sale or be
<br />summarily dispossessed, in accordanre 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 />as cumulative to the remedies for eoilectioa of said indebtedness provided by law.
<br />4. The proceeds of any Bale of said properly in accordance with the preceding pangrapha shall be applied first
<br />to pay the cwa and expense of said sale, the expenses incurred by the mortgagee for the purpose of protecting or maio-
<br />wining said property, and reasonable attorneys' fees; secrosdly, to pay the indebtedness secured hereby; and thirdly,
<br />to pay any surplus or excess to the person or persona legally entitled thereto.
<br />5. la the event said properly is sold at a judicial foreclosure Bale or pursuant to the power of sale hereinabove
<br />granted, sad the prneeeda arc not sufficient to pay the total indebtedness secured by thin imtrument sad evidenced by
<br />said promissory Dots. the mortgagee will be entitled to a deficiency judgment for the amoum of the deJicimry withcwt
<br />regard to apprsisemcat.
<br />6. In the event the mortgagor fails to pay any Federal, slats, or local tax assessment, income tax or other tax lien,
<br />charge Ire, or other experue charged against the property, the mortgagee is hereby authorised at his option to pry
<br />the same. Any sums eo paid by the mortgages shall 6e added to and become a pan of the principal amount w( the
<br />indebtedness evidenced by said nose, subject w the same terms and conditions. If the mortgagor shall pry and
<br />diaehargr, the indebtedness evidenced by said promissory note, and shall pay such sums and shall discharge all taxes
<br />and lime and the wets, lees, and expenses of making, nnforcing, and executing this mortgage, then this mortgage
<br />shill be canceled and surrendered.
<br />7. The covenanu herein contained shall 6;ud and the benefits and advantages dtdl inure to the respective sue
<br />sassota and assigru of the panics hsroto. Whenever used, the aingulrr number shaft include the plttn4 the plum the
<br />tt'tagaiar, acrd t~ sea a! say gaadet shall ituluda aU ~dera
<br />8. Pin waiver of any covenant heroin or of thy. obligation secured hereby shall at say time thereafter Fx. held
<br />to 6s a waiver of the terms hereof or of the note secured hereby.
<br />~. In complieoee with section 101.1 (d) of the Rules sad Regulations of the Small Bmiona Admiaistratioa (13
<br />GF.R. 1011(d) J, this instrument is to be eooatrved and enforced is aecordanae wiUt applicablo Fedsnl law.
<br />10. A judicial decree, artier, or judpnent holding any provision or portion of this instrument invalid or um
<br />enforceable shall rtot in any way impair or preclude the enforcement of the remaining provisions or porliom of
<br />thii instrument.
<br />ass For. 9rl IMra` Ct. ~!! ]"+~w
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