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<br />3. The mortgagor covenants and agrees That if he shaft fail to pay said indebtedness or any part thet'eof~++lset~
<br />due, ar shall fail to perform any eorenant or agreement of thin-instznn:rnt or thr; promiaeor}•-note aceured hisc~;; tlx-~_
<br />entire indebtedness hereby secured shall immediately become due sfpy(ibl.,' 9nd collectible without notice, si the-:.
<br />aptfoa of the mortgagee or assigns, regardless of maturity, and-the mortg;gee or his assigns may itefore or afier'entay;
<br />sell=said property without appraiaement (the mortgagor having waivedt awd aruigned to the rtt~rr(gagre aR'''righia of -,
<br />I t 1 ai judicial sale pursuant to the provisions of 28 U.S.C. 20011 a) ; or
<br />(tt) at the option of the mortgagee, either by auction or by solicitation of eealed$ids,•i~the hi6heet snd
<br />best bid complying with the terrsts of sale and manner of payment specified in the publiafted notice of sale, litat,
<br />giving four weeks' natter of the time, terms, and place of suck "sale,_by, advertisement nox less than once
<br />during each of said four weeks in a newspaper pu6lisherl 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 pettam ~
<br />behalf of said mortgagee, may bid with the unpaid indebtedness evidenced by said note). Said eak shall b'e=~'
<br />held at or on the propertp• to be sold or at the Federal, county, or city courthouse for the county in which the
<br />property is located. The mortgagee is hereby authori2ed to execute for and on behalf of the mortgagor and to
<br />deBever to the purchaser at such sale a euliicient conveyance of said property, which conveyance shall contain.
<br />recitals qa to 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 atwtaey of the
<br />mortgagee, the agent and attorney in fact of said mortgagor to make such recitals and to eseeate said
<br />t:asveyance ated hereby rnvtnanta and agrees that the recitals so made shall be effectual to bar all e4uity or
<br />right of redemption, homestead, dower, and all other exemptions of the mortgagoq all of which are hereby
<br />expressly waived and conveyed to the mortgagee; or
<br />1 nt; take any other appropriate action pursuant to state or Federal statute either in state nr Federal
<br />court or otherwise for-the dispasi[ioa of the property.
<br />In the event of a sale as hereinabove provided, the mortgagor or any person in possession under the mortgagor shall
<br />then become and be tenants holding over and shall forthwith deliver poseessio:. to the purchaser at such sale or be
<br />summarifq=dispossessed; in acro?dance with the provisions of law applicable to tenants holding over. The power
<br />and agency iiercbY granted are coupled with an interest and are irrevocable by dezth or otlierwi~ie, and are granted
<br />ae cumulilive'to the remedies tar'calfection of said indebtedness provided by law.
<br />~. The proceeds of nay sale o€ said property in aecardance with the pm~eding paragraphs shell be applied first
<br />to pay the: casts and eapenaw of said sale, the a:penxe incurred by the mortgagee (orthe purpose of protecting or main•
<br />raining said_ property, and reasonable attorneys' tees; secondly; to pay.the indebtedness secured hereby: and thirdly.
<br />to pay any sttrplus or excem to the person or persons legally.entitled thoreto.~
<br />5. In the evetat said property is sold aI ajudicial-foreclosure salt or pursuant to the power od sale hereinabove
<br />granted; snd=the proceeds ate not su~cient to pay rho total indebtedness secured by this instrument sad tvidenced by
<br />said promissory nose, the mortgagee will be entitled to a deficiency judgment for the amount of the deficiency without
<br />regard to appniaement.
<br />5. In the event the mortgagor tails to pay any Federal, state, or local tax assessment, income tax or other tax lien,
<br />charge, fee, or odtrr expanse charged against the proper! r, the mortgagee is hereby authnrired at his option to pay
<br />the same. Any sums eo paid by the mortgagce shall be added to and become a part of the principal amount of the
<br />indebtedrnss evidenced by said note, subject to the same terms and conditions. If the mortgagor sha^ par and
<br />discharge rite indrbiedneas evidenced b}' said promissory note, and shalt pay such sums and shall discharge all taxes
<br />and liens and the costs, fees, and txpenaes of making, enforcing, and executing this mortgage, then this mortgage
<br />ahalf be canceled and surrertdered.
<br />7. The covongnte herein contained shall bard and the bettefite and advantages shall inuro to the respective sac-
<br />eeagn and aasigu of the partuea hereto. Whenever aged, the singular number shall include the plural, the plural the
<br />aingnhir, and the use of any gander shall include aB genders.
<br />9. Pea waiver of any covenant herein or of the obligation secured hereby shall at any time thereafu: bc- herd
<br />to be a waiver of the terms heretl or of the note secured hereby.
<br />9. In compliance with section 101.1 { d) of the Rules and Regulations of the Small Business Administration (13
<br />C.F.R. 101.1 {d) j, thin instrument is to be construed and entareed in accatdanoe with applicable Federal law.
<br />IU. A judicial dttcec, order, or judgment holding any provision or portion of this instrument invalid oe un-
<br />enforceable shall not in any way impair or prcdude the enforcement of the remaining provisions or portions of
<br />this instrument.
<br />sse r_._ ast ter.: -- >
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