|
~~"" '~ {.i i1 .tt_
<br />"-3.,:'FIiE tttortgagor covenants and agrees that if hE=dia11` fail to pay said indebted or any part thereof when
<br />dun: or shall fait to perform any covenant or agreement of thi.instrument or the promissory note secured hereby, the
<br />cgKre;indebtednees hereby secured shall immediately beeoint due, payable, and collectible without[ notice, at the
<br />[>ltionaof the mortgagee or, assigns, regardless of maturity, and the mortgagee or hia esaigns may before or after entry
<br />tie~'gid.-property without appcaisement (the mortgagor having. waived and assigned to the mortgagst ell tights of
<br />appraipement)
<br />(t i at judicial sate pursuant to the provisions o! 28 U.S.C. 2tg1(a } ; or
<br />(x) u the aptioa of the mortgagee, either by auction or by solicitation of sealed bids,•for the highest:and
<br />.beat bid-eeoplyiatg with the terttu of uk and manner of payment specified in the published woti« of aale,:fint
<br />giving four weeks' notice of the time, terms, and place of such sale, by advertisement not .lees than-once
<br />during each. of said four weeks in a newspaper publisheJ or distributed in tfie county in which-said property
<br />is situated. ail other [melee beiaE heeeby waived by the mortgagor (and said mortgagee. or any pttsoq -on
<br />' btehaif of said mortgsgeti may bid with the unpaid indebtedntr evidenced 6y a.id note). Said axle shall be
<br />held at or oa the property Io be Bold ar a[ the Federal, county, or city courthouse for the county in whit![ the
<br />property is !seated. The mortgagee is hereby authorized to ezeeute for and on behalf of the mortgagor and to
<br />delirer to the purchaser at such sale a sufficient eonvtyance of said property, which eowveymce ahali toataiw
<br />redtah r to the happeoittg of the default upon which the ezecution o: the power of eak herein granted
<br />depends; and the said mortg:gor hereby cottatitutd and appbinta the mortgagee or any agent or attorney oEihe
<br />mwtgagx. the agent and auorney is tart of used mortgagor to make such tecitab and to execute acid
<br />eomeyaaee and hereby rovrtsaate and agrees that the recitals so made shall be edeetnal to bar all equity or
<br />right of redemption, homestead, dower, and all other exemptions of the mortgagor, all of which are hereby
<br />ezpte+uly waived and conveyed to test mortgagee; nr
<br />ftrti take any other appropriate action pnrenant to state or Federal statute either in state or Federal
<br />court or otherwise for the disposition of the property.
<br />Ice the event of a sak as hercittabovc provided, the mortgagor or any person in possession under the mortgagor shall
<br />then beeotwe and be tenants holding over and shall forthwith deliver possession to the purchaser at such sale or be
<br />suatmarily diaposseeaed, in accardaoee with the provisions nt law applicable ro tenants holding over. 'The power
<br />and agency hereby granted arc eoupkd with an interdt and are irtevocabk by death or otherwise and are granted
<br />u cumulative to the remedies for eoikction of said indebtedness provided by law.
<br />4. The pseeeEtls of .ray .ale oC said property in aceetdanec with the preceding paragraph. shall bt applied fiat
<br />a pay the testa and a:petrw of said aal4 efts ea:petrer incurred by the mortgagee for the purpose of protecting or main.
<br />taming said property. awd~ reaaonablt attortreye fees; secondly, so pay tht indebtedness secured hereby; and thirdly,
<br />to pay uy wrpbra or ezeds to the persow or penam legally eatkkd thereto.
<br />S. it the erewteaid pt+peny is sold at a judicial foraiawre ..k or pursumt to the power of sale hereioabore
<br />grsatted, and the ptntteeedr ate not sniekat to pay the total itsdebtadwess scented by thin inerutaesrt sad erideaeed by
<br />MMI prwmrtery asNt, the martgsgeE Mill be eahtkd to a dEFaerter fudgwsewt for the-aaorune of LhE deFcseetey ~ettkowa
<br />rryri to erpewsaswsuN.
<br />6. lntlu event the ttsortgagm fait to pay any Federal, state, or loco( tax aasesrment, income tax or other taz lien,
<br />rlsarga fee, or other ezperue charged agamsi thr ptaperty, the mortgagee is 6crebr authorized at Isis option W pay
<br />the sawse, Awy sttstr ae paid by tbt tnortfagee -l+afl lx added to and became a part of the principal amount of the
<br />eviaseed by said note subject to [he sense tetras and coaditiotw. if the mortgagor shall pay and
<br />diadsarpe the iadehtEdaeas evidenced by said promissory [rote, and shall pay such sums and shall diaeharge aU fazes
<br />sad liar and the csst6 !tea, need ezpemes of makirgt, enforcing, and ezecuting [hia mortgage, then this mortgage
<br />shslflE earaaefed awl antaewdered:
<br />T: Thrersswwwts heteiw eewtaiwed shall bind awd the Iteaefiu sad advasaattea shall inure to tfae reapeetive sue-
<br />tMasatt awl anirtsaf:tiE parties tarteM. 7pheaever need, the aiaguLr ausaher shall istelwde the plural, the plwsal tM
<br />itt~riw. asst tlra [[asset [gay gander ahwit itotAtde.a8 fisaisea.
<br />3, 110 +mirer of qy tsvraaa[ hereiw or of the abligatim ateured hereby shall at nay tirrm thereafter 1[r held
<br />t~ is a waivm of the tercets hsvewf or of the note centred hereby.
<br />!: t4 e..piirMwaE wNl- a.ai.. lel,l (d j of the Rules awd ltagttlat-atnt of tha Stall Hu.ia.w Adttsiaissratiew { l3
<br />GF.it,1M:1#d1 ~, tlti 3twlMwpta~r i^ a hs eawrttwed sad taterced is aecvsrdawes will[ applieabk Federst law.
<br />I!4 A j dset'aa. ender, or judtpweat Iteldirsg any prorisiow or portion o{ [hia irotrutneut invalid or an•
<br />st~Eeeaaali~ titaH ts~t iw wry trrr itwpair of prscludc the ewlartereat oC the rawssiwittj provesiosr or portiatsa o[
<br />[leis iMett~r-,. .
<br />es4 r+sa. rst [[true ..~ -,.. ,
<br />
|