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80-Ua~298
<br />,_ 3. The mortgagor covenants and agrees that if he shall tail to pay said indebtedner or any part thereof when
<br />dn% or shall fail to perform any covenant or agreement of this instrument or the promissory note secured hereby, the
<br />eiuire'indebtedness hereby secured shall immediately beeotne due, payable, and collectible without notice, at the
<br />ttrtiortof the mortgagee or assigns, regardless of maturity, and the mortgagee or his assigns may before or after entry
<br />sel!''said property without-appraisement (the mortgagor having waived and assigned to the mortgagee all rights of
<br />ttp*taiicmeat }
<br />1 t 1 at judicial sale pursuant to the provisions of 28 U.S.C. 2001 (a) : or
<br />(n) at-the option of the mortgagee, either by aaetion or by solicitation of eeakd bids,'for the 6f~est and
<br />beat bid caatplyiag with the terms of sak sad mamer o[ payment specified in the published Mice of ask, fitat
<br />giviaa four weeks' notice o[ the time, terms, and place of such ease, by advertisement not leas than oast
<br />during each`of-said four weeks in a newspaper published or distributed in the county in which said property
<br />L sitaated, aU ether notice bciag hereby waived by the mortgagor (sad said mortgag~'or soy penan on
<br />behalf of said awrtgsgee, may bid with the unpaid indebtedness evidenced by said note). Said sale shall be
<br />held at or oa the prnperty to be sold or at the Federal, county, or city courthouse [or the eountp in which the
<br />property is looted. The mortgagee ie hereby authorized to execute for and on behalf of the mortgagor and to
<br />deliver W the purchaser at such sale a sufficient conveyance of said property, which conveyance shall contain
<br />reeltals a• to the happening of the default upon which the execution of the power of Bale herein granted
<br />depends; and the said mortgagor hereby rnwtitutes and appoints the mortgagee or any agent or attorney of the
<br />saoetgageq the agent sad attorney is fact of uid mortgagor to make such recitals and to execute said
<br />eon-eyance and hereby mvenaots sad agrees that the recitate so made shall be effectual to bat all equity or
<br />right o[ redemption, homeduad, dower, and all other exemptions of the mortgagor, ail of which are he._by
<br />expressly waived and conveyed to the mortgagee; or
<br />(eU} take am other appropriate action pursuant to state ar Federal statute either in state or Federal
<br />court or otherwise for the disposition of the properly.
<br />In the event of a sak ar hereinabove provided, the mortgagor or any person in possession under the mortgagor shall
<br />then become sad be teoaab holding over and shall forthwith deliver possession to the purchaser at such sale or be
<br />summarily dupowiessed, in accordance with the provisions o[ law applicable to tenants holding over. The power
<br />sad ageaey hereby granted are coupled with an interest and are irrevocable by death or otherwise, and are granted
<br />L eama6ttYC to the remedies for caileetioq, of said indebtedness provided by law.
<br />4. The preeeeds of soy sak of acid property in aeeordana with the preceding pangnphs shall be applied loaf
<br />to pay the scab ad e:ptatres of said sak, the eapetres inearred by the mortgagee (or the pnrpoae of protecting ormain-
<br />taiaing said property, and reasonable attorneys' fees; aecondty, to pay the indebtedness secured hereby; and t6ird_ ly,
<br />to pay any surplus or excess to the person or persona legally eatitkd thereto.
<br />5. In the tstat wid property i. sold at a judicial foraelosure sale or pursuant to the power of ask hereiaabove
<br />granted, and the preoeeds au east sngiieient to pay the total indebtedner secured by this instrument sad evidenced by
<br />acid proaaiaaary note, the mortgagee will be eatitkd to +t defieieaey judgsaeat for the amount of the sfeFeiewcy toitAors
<br />nffmd to aAPtoseatewa
<br />b. 1n the went the asorigsgor fails to pay any Federal, state, or local tax assessment, income tax or other tax lien,
<br />chugs, fee, or other expense charged against the property, the mortgaget is hereby autfmrised at his option [o pay
<br />the saota Any war so paid by the mortgagee shall be added to and become a part of the principal amount of the
<br />indebtednew evidenced by said note, subject to the same terms and conditiotu_ 1f the mortgagor shall pay and
<br />discharge the iadebledneas evidenced by said promissory note, and shall pay such sums and chap ducharge all tun
<br />and liens and the casts, Errs, aed expenses of making, enforcing, and executing this mortgage, then this mortgage
<br />sheet bc'eanreled std surrendered.
<br />?• The eavenanu heteia ooagised shall bind asd the beaefir and advantager shall inure to the respective ate-
<br />asarasa and asaisas a(-the partiaa hosts. 7Rltenever aced, the singular number shat! inehtde the plural, the p{nrd the
<br />stapler, and the teas ad aiy Sender shall inclada all geadera
<br />fl. Ne waiver of say eoxenant herein o: of the obligati«t secured hereby shsil at soy time thereafter be held
<br />b lr a waiver ai the ter>tss 6ereo[ or of the note secured hereby.
<br />9. )t. taatpliatsn erjtl section 101.1(d) of else Rnka sad ltrgutatiwts o[ the Small Btriner Adauoistratioo j 18
<br />GF,R. lil,l(i) ), due i~altersa~t is q he eanatraed utd ra(etced is aoeordrnee with applicabk Federal law.
<br />N. A jndiefa(' doeeas. ceder, or jadgsoeat holding any prnrisioa ar portion at this instrument invalid or en•
<br />valaserabie shallant.m nti wa7 impair or preclude the enforcement of the remaining provision or portions of
<br />14ia ittotrtaseftt.,
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