|
$0-e ~ 0 i 3 ~.1
<br />3, The mortgagor covenants sad agrees that:if he shall: felt to pay said indebtedness or any part thereof when
<br />dtrF orshall fail to perform any covenant or agreement of this instrument or the promissory note eeturtd hereby, the
<br />eytfre indebtedness hereby secured shall immediately becomt+ due, payable, and collectible without notice, at the
<br />of the mortgagee or assigns, regardless of maturity, and-the mortgagee or his assigns may before or after entry
<br />o~°II+.
<br />seilaaia property without sppraisement (the mortgagor having-waived and assigned to the mortgagee all rights of
<br />z}~sanemaati :
<br />t t 1 at judicial sale pursuant to the provisions of ~ U.S.G 20011 a) ; or
<br />(tt) at the option of the mortgsgee, either by auction or by solicitation of seakd bide; for the hi~hrt and
<br />iew-bid rnmplying with the tettns of rk and manner of payment specified in the published notice of iwk, first
<br />giving four weeks' notice of the time, terms, and place of such sale, by advertisement not less dean once
<br />:during-each of acid four weeks in a newspaper published or distributed in the county in which said~property
<br />is sittwted, ail odter notion being hereby waited br the mortgagor (and said mortgagee, or say person-m
<br />behalf of said.tnortgagee, may bid with the tmpaid iadebtedtter evidenced by said note). Said uk shall be
<br />held at ~ oa the property to be sold or at the Federal, county, or city rnurthouse for the county in irhich the
<br />property is located. The mortgagee is hereby authorised to execute for and on behalf of the mortgagor sad to
<br />deliver to the purchaser at each Bale a enRtcient conveyanc¢ of said property, which conveyance shall watain,
<br />reeitaia r to the happening of the default upon which the a:ecution of the power of sak herein' granted
<br />depend.; and the aid mortgagor hereby constitutes and appoints the mortgagee or any agent or attontey of tbq
<br />moegagee, the agent and attorney in fact of said mortgagor to make each recitals and to a=ettte acid
<br />oosrryaeee and hereby rnvattmu and agrees that the recitals eo made shall be effectual to bar a1F+egoity or
<br />right of redemption, homeatesd, dower, and all other exemptions of the mortgagor, all of which are ::~reby
<br />ezpreealy waived and conveyed to rite mortgagee; or
<br />(tn) take any other appropriate action pursuant to state or Federal statute either in state or Federal
<br />court or otherwise for the disposition of the property.
<br />In the event of a oak r hereinabove provided, the mortgagor or zny person in possession under the mortgagor shall
<br />then become and be tenants holding over and shall forthwith deliver posxssion ~o the purchaser a[ such sale or be
<br />sanemuily dispoexsee 1""~ rdaaee with the provisions of law applicable to tenanu holding. over. The power
<br />sad agewer hereby grajit , re couplet with an interest and art irrevocable by death or otherwise, sad are granted
<br />r eumuhttivc to the ioaao4 +ai~..iudebtedneas provided by law.
<br />4. 'Ilse peueneds a( arty oak of said pswpeny in aeeordanee with the preceding paragraphs shall be applied brat
<br />to pay the eesu--and eapmsr of-rid-rk, tie rapeear incanted by the mortgagee for the parpoae of proteetiag or mata-
<br />taiaing said property, sad reasoaahk attorneys' tees;. secondly, to pay the indebtedness secured hereby; and thirdly,
<br />to par any wrplus or etccer to the person or persons legally entitled thereto.
<br />S. L the evert sail property is sold at a jadieial forsehwre sak or pnrwwtt to the power of sak heteieabwe
<br />greeted, and tie pneeeia are awe suieiene to pay tiw total indebledtser secured by th» instrument and erideeeed by
<br />said pswasirnry nets, rise mortgages will be entitled to . deficieeey judgetcat for the aaaomt of the deFcieney soitGorr
<br />-r/wti to apveirmw.
<br />fr_ fa the event tie taertgagor fail to pay soy Federal, state, or later! ter: aeKasnttnt, income to or other tax ilea,
<br />charge for or otbcr experts charged againbt the propeny« the mortgagee is hereby authorized at hie option to pay
<br />the aarrc Aoy suur r paid by the mortgagee shall 6e added to sad become a part ere t e prineipai anxwat of the
<br />iadelesdttess evidcssad by said note, subject to the same terwta sad conditions. If the mortgagor shall pry sad
<br />discharge the indebte+iads evidenced by said promiswry note, and shall pay such sums and shall discharge all taxes
<br />ani Bats attl tin two, feet, asHl experres of making, enforcing, and a:seating this mortgage, then this nsortgage
<br />alt~ll ie eaKeiei'ael sarrenlered.
<br />?. `[lee ntncwaets herein coetaiael sbali bind and the benefits and sdrantaRes shall loots t,o tie reapsetive sus
<br />easssn-asti aasipe oL-tiro poetic iueM. Xlteeersr url, she siagutu number shall include the plural, the plttnl taw
<br />sits`s2sr. ttsi tie see d say gsrisr shall ineleie all gender.
<br />IL ?"ts waiveu of any earetuet berzitt or of the: obligatieo secured hereby shall at any time thereafter be held
<br />to ha a waiver of der-taws herso[ or of tic noes saeuted hereby.
<br />9, ~~istapiiettee wyti ss~ 182.1(41 of sbe Rule end RegaLsi4ns of the Staall Hasittswt Adteiaistntiee [ 73
<br />GT'.11. 18l.lfl}Ix-1~-itA~lAwtlfret-is ie ire 4tuei aed eeforeed in accordaaae wiUt appliesbk Federa# law.
<br />18..fi jr~e~it2 daeesu, order, err jwlgttsewt haWiag any provision or portion of this irWrument inwRd or ua-
<br />w~t,./~weMiiE iiiaR sit is auy way irapair er preelelt the eatercemeat o[ ibe raaaiairts provisiaats err portiats of
<br />sna res. snr-ta-rn . ~. :..
<br />
|