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$~-..~ vU4984
<br />3. The mortgagor covenants and agrees that if he shat! $ait to pay said indebtednam or-any part thereof when
<br />due, or hhall fail [o perform any covenant ar agreement of this instrument or the promissory note secured hereby, the
<br />entfrc indebtedness hereby secured shall immediately become due, payable, and collectible witltoat notice, at the
<br />ttptiotr of the mortgagee or assigns, regardless oC maturity, and the mortgagee or has assigns may befoee or after tatty
<br />edl rid property without appraiaement (the mortgagor having waived and assigned to the mortgagee all rightsmf
<br />sppo<aisement?
<br />1 s) at judicial sale pursuant to the provisions of 28 U.S.C. 2001 i a) : or
<br />(ts) at the option of the mortgagee, either by auction ar by aolicitadon of sealed bidr,'for the highest and
<br />beat bid complying with the terms of sale and manner of payment specified in the published notice of rte, first
<br />giving [our weeks' nouee of the time, terms, and place of such Bale, by advertisement Hat less than once
<br />during each of said four weeks in a newspaper published 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 any person om
<br />behalf of said mortgagee, may bid with the unpaid indebtedness evidenced Sy said note). Said sale shall be
<br />held at or on the property to be sold or at the Federal, county, or city courthouse for the county in which the
<br />propertyu located. The mortgagee is hereby authorized to execute (or 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 connfn
<br />reeitaL r to [he happening of the default upon which the execution of the power of sale herein granted
<br />depends; and the said mortgagor hereby rnnatitutee and appbinta 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 ezecate said
<br />conveyance and hereby rnvenaau and agrees that the recitals eo made shelf be effectual to bar alt equity or
<br />right of redemption, homestead, dower, and all other exrmpeions of the mortgagoq all of which are hereby
<br />expressly waived and conveyed to the mortgagee; or
<br />(nt1 take any other appropriate action pnrsnant to state or Federal statute either in state or Federal
<br />court or otherwise for the disposition of the property.
<br />~~
<br />In the event of a s . ~a~~ mortaagor or any person in possession under the mortgagor shall
<br />they become and [ 41MR~11 11 forthwith deliver possession to the purchaser at such sale or be
<br />summarily diepaeaesse m actor ante wet t t e 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 />a• eomulative to the remedies for collection of said indebtedress provided by law.
<br />4. The ptnoeeds of say rk of acid pzopem io aeoordance with the preceding paragraphs shall be applied first
<br />to pay the coats sad sxpeaaes of said rk, the expenses incurred by the mortgagee for the purpose of protecting or main•
<br />wining acid property, sad reasonable attorneys' fees; scec~dly, to pay the indebtedness secured hereby; and thirdly,
<br />to pay any surplus or a:teas to the person or persons legally entitled.thereto.
<br />5. L the event said property is sold at a jndieial foralarure ask or pursuant to the power of sak hercinabove
<br />granted, sad tee peooeeda arc not ssdieieet to pay the total iadebtedner secured by this instrwnent and evidenced bT
<br />rid promissory note, the mortgagee will be entitled to a deficiency judgment for the amount of the dsjtcienry toithaara
<br />roperd to apprniserwewt.
<br />6, [n the event tht mortgagor tails to pay any Federal, state, or local tax assessment. income tax or ether ta: lien,
<br />charge. fee, or other ezpefrec ebarged sgaiast the property, ¢he mortgagee is hereby authorized at hie option to pay
<br />the aatae. Any sums r paid by the mortgagee shall be added to and become a pan vi the principal amount of the
<br />iadebtedoeas evidenced by said note, snbjeM to the assts terms and conditions. Ff the mortgagor shall pay and
<br />discharge the indebtedness evidenced by said promissory Hate, and shat! pay such sums and shall discharge all taxes
<br />and Rena and the costa, fete, zed expettses of making, enforcing, and executing this mortgage, thin this mortgage
<br />stall lye canceled and ennendered,
<br />3_ The eovenante berets contained shall Lied sad the beaefita and advantages shalt inure to the txapeetive euc-
<br />oessata aced asaiipatirf ere parties hereto. Whamevcr need, the tingulsr attmber shall iaetude the plarad, the plural the
<br />~r• ant ire ors d any gender shall iaietnde all genders.
<br />E. Ko waiver of auy covmaat heeein or of the obligation secured hereby shalt at say time thercaftec be held
<br />tr ba :waiver of the terms hereof or of the note secured hereby.
<br />9. Lestttplianoewit!-aeetiaa101.1(d) oftLeRnlasad Regolatioer of the Sma11 Borneas Administration [13
<br />C,F,R.1l1.1(iij, tri.;~ i. u L. canwrued .nd enforced is :etordanae with applicable Federa! law.
<br />14. A" jadieial dtinee, ordtr, or jadgr»att holding any provision or portion of this instrument invalid or nm
<br />than not is any way impair or preclude the enforcement of tl•e remaining provisions or portions of
<br />this ttattropen4
<br />~.Pi~ +3'3 13H
<br />as- r..., gay tsoat
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