|
~ e -/`c_Ccir/eo~
<br />8 --UG5200
<br />~~--=004506
<br />~- 3. The mortgagor covenants and agreta that if he shall fail to pay said indebtedness or an} part thereof when
<br />dYi~e, orshall 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 doe, payable, and collectible without notice, at the
<br />optfoo of the mortgagee or assigns, regardless of maturity, and the mortgagee or his assigns may before or after entry
<br />sell aid property without,itppraieement Ithe mortgagor having waived and assigned to the mortgagee all rights of
<br />app?ai~ement)
<br />(t) at jndieial sale punuant to the provisions of 28 U.S.I:. 2601 ~ a 1 ; ur
<br />([t) at the option of the mortgagee, either by auction or by solicitation of sealed bids, €or the highest and
<br />beat bid complying with the terms of Bale and manner of payment specified in the published notice of sale, fiat
<br />giving lose weeks notice of the time, terms, and place oC such sale, h. arh•rrtisrment not less than once
<br />during each of said Four weeks in a newspaper published or distributed in the county in which acid property
<br />v situated, all other notice being hereby waived by tkte mortgagor (and said mortgagee, or any person on
<br />behalf of said mortgagee, may bid with the tmpaid indebtedness evidenced by said note). Said sale shall be
<br />Geld at or on the property to be soil or at the Federal, county, or city rnurthouse for the county in which the
<br />property ie located. The mortgagee is hereby authorised to ezecute for and on behalf of the mortgagor and to
<br />deliver to the parchseer at such sale a sutficieat conveyance of said property, which conveyance shall contain
<br />teeitab as ~ the happening of the default upon which the execution of the power of Bale herein granted
<br />depends; and the said mortgagor hereby constitutes and appoints the mortgagee or any agent or attorney of the
<br />eortgageE, the agent and attorney in fact of said mortgagor to make such recital sad to execute said
<br />eonveyanet and hereby t'aveaants and agrees that the recitals so made shall be effectual to bar all equity or
<br />right of redemption, homestead, dower, and all other exemptions of the mortgagor, all of which are herehy
<br />expressly waived and conveyed to the mortgagee; or
<br />(u[) take any other appropriate aetiwt pursuant to state ur Fetleul statute either iu elate ur k•edrral
<br />court of otherwise for the dupositioa of the property.
<br />Ia the event of a sale a• heteinbcfore provided, the mortgagor or any peraom in possaeion under the mort-
<br />gagor shall then become and be tenants holding over and shall forthwith deliver possession to the parchaaer ut
<br />sleek ask or be~isposeeesed, in accordance with the p.nvieioos of law applicable to tenants holding over.
<br />The power y' anted are coupled with an interest and are irrevocable by death or otherwise, and
<br />are granted /s eamdg8tve tp'!ht medics for rnlketion of said indebtedness provided by law.
<br />...
<br />~. Th~ proceeds-efiia''tf sak a/~ id prope.zy in accordance with the preceding pazagraphs shall be applied tint
<br />w pay add tee of ink, the e:peaae incurred by the mortgagee for the purpose of protecting or maia•
<br />tainioq sate, and teatiaaalr~e attorrays' fees; secondly, to pay the indebtedness secured hereby; and thirdly,
<br />to pay say oq;afteir to t~~petaoa or persona legally entitled thereto.
<br />5. In the event t ~ • property is sold at • judicial foreclosure sale or punuant to the power of sale hereinabove
<br />grarted, and-the proceeds are not sudeieat to pay the total indebtednea secured by this inttrument and evidenced by
<br />acid peo~iwory note, the mortgagee will be entitled to a deficiency judgment for the amount of the deficiency taithotu
<br />ngsrsl u oppriseaserrt.
<br />4 La the event the mortgagor fails to pay any Federal, state, ut Ioca1 tai aseesartseut, income tax or other tai
<br />lien, charge, tee, or other expense charged against the property the mortgagee is hereby authorised at his option to
<br />pay the sage. Any sues so paid by the mortgagee shall 6e added to and become a part of the principal amount of tlsr
<br />iadieLttodaeas evidenced by said note, etabject to the saes terms and conditions. If the mortgagor shall pay and
<br />dischargt the indebtedness evidenced by acid promrrory [tote, and shall pay ouch soma and shall discharge all
<br />tales and lisle sand the costs, fees, and eaPettses of making, eaforeing, and ezecutiog this mortgage, then this mortgage
<br />stall !K traaeied and otrraadared.
<br />1. T1se oww-aeu heteia eoatairred shall hind sad the benefits and advanuagr„ shell inure to the rrrprrtivr suc-
<br />teasrsa [tad asalgas of the parties hereto. whenever ttaed, the singular number shall inclatde the plural, the plural the
<br />sirplaa; art tie use d say grader shall iaelade aA geaden.
<br />a. Ne waiver of arty covastastt berate or n( the obligation securrti hereby shall at any lime iherrahrr hr held
<br />to be a +raiver of the terns hetaatt or of the note secured hereby'.
<br />s. A jdiei.l dw.a order, or jtrdpseat haddiutg any provision or portion of this iarttueeat invalid ur uucu-
<br />faaeaaila shall sot fa cry way iaspair or preclude the entoceement of the remaining provwions or Ixtrtions of thin
<br />iii.
<br />10,,Atty +s~iYas tsrMaaM Its iowti q dsa eortgagor purauaat to the provisions of this instrument shalt be ad-
<br />drawai Mtlr+.tMrry~reM:
<br />sad any written notice to be issued to the mortgagee shall
<br />ba adtirarsd u the mattjapo_ at
<br />ao~ Pons[ sea tx-~at
<br />
|