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<br />3r The mortgagor covenants sad agrees that if he ahalf fail to pay said indebtedness or any part thereof when
<br />~, or !hail sail to perform env ravmmt or agreement of this instrument or the promiaeory note scented hereby, the
<br />settee indebtedness hereby secured shall immediately becortre?dris, payable, and collectible without notice, at the
<br />optfon of the mortgagee or assigns, regardless of maturity, and the mortgagee or his assigns may before or after entry
<br />ad# s;id property without appraisement {the mortgagor havig~waivet{ ind asaigited ta2he mortgagee all rights of
<br />- I t) at judicial sale pursuant to the provisions of 28 U.S.C. 20011 a i ; or
<br />(4t) at the option of the mortgagee, either by atac¢ioa or by solicitation of aeeled bida,'for the highest atad
<br />-beat bid cotnplyittg with the tertru of sale and manner of payment specified in ilia pttblisbed notice of ask. fixw~i
<br />- giving (our weeks' notice of the time, terms, and place of subs sale,' by -advertisement not lees than once
<br />- during cash of said four weeks in a newspaper published or distributed in the county in which esid property',
<br />,. is situated, all other notice being hereby waited by the mortgagor (sod said mortgagee, ar any pexeon oa.
<br />behalf of said mortgagee, may bid vritb the unpaid indebtedness evidenced by said note;. Said sak shall he
<br />held at or on the property to be sold or at the~Federal, county, or city conrthouee for the rnunty in which the.
<br />property is located. -the mortgagee is hereby authorized to execute far ~tnd on bshaif of the mortgagor and to
<br />deliver to the purchaser at such sale a sufficient conveyance of said property, which conveyance shall contain.
<br />reeitaL a to the happening of the default upon which the execntion of the power of sale berets grained
<br />depeada; and the said mozagagot hereby constitutes and appoints the mortgagee or any agent azattorney of she
<br />mortgagee, the agent and attorney in fact of said mortgagor to make such. recitals sad 'to execute said
<br />conveyance sad hereby covenants and agrees that the recitals so made shall b'e e$eetualto bar all equity ar
<br />right of redemption, homestead, dower, and all other exemptions of the mortgagor, all of which are hereby
<br />expressly waived and conveyed to the mortgagee; or ,
<br />(nt) 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 sale as hereinabove provided, the mortgagor or any person in possession under the mortgagor shall
<br />then become and fie tenants holding over and shall forthwith deliver possession to the yurchaser at such sale or be
<br />eummarily dispasaeseed, in accordance with the provisions of law applicable to tenanus holding over. The power
<br />and agency hereby granted are coupled with an intereet and are irrevocable by death nr otherwise, and are granted
<br />ae cumulative to the.remediea for collection of said indebtedness provided by law.
<br />4. The proceeds-af arty safe of erid property in aecordanee with the preceding paragraphs shall be applied first
<br />to pay the costs and expetses of said'eale, the expenses incurred hq the mortgagee for the purpose o] protecting or maio-
<br />twining said property;.and'. reasanuble a43oresevs' fees; sectendly, to pay the intlrhied:tess secured. hereby; and tlsirdly,
<br />to pay any surplus or excess to theperson ar pcraons.legally eatiiled thereto.
<br />S. In the event said property is sold at • judi«al foreclosure sale or pursuant to the power of sale hereinabove
<br />granted, and-the proceeds ere not sufficient to pay the total indebtedness secured by this instrument aad evidenced by
<br />said promissory oats, the mortgagee will be entitled to q deficiency judgment for the amount of the deficiency withotu
<br />regeaxf to appraaiasement.
<br />6, In the event the mortgagor fails to pay say Federal, state, or local tae aaa~:amrnt, income tax or other tat lien,
<br />charge, fee, or other rcpener.charged against the property, the mortgagee is hereby authorized at his option to pay
<br />the saint. Any sums ea paid by the mortgagee shall be added to and become a pan of the principal amount a( the
<br />indebtedntF:s evidenced by said Hole, xubject to the same temts and conditions. ]f the mortgagor aha[l pav and
<br />discharge the indebtedness evidencexl by said promissory note, and shall pav such soma an 7 shall discharge aiJ taxes
<br />and lietts and the costa, fees, anti expcnses,.of making, enforcing, and executing this mortgage, then this mortgage
<br />shell' be canceled and suvrendered.
<br />i. The coveoan4 herein contained shall bind and the benefits and adrantaaea shall inure to the respective sue-
<br />oeawelt and avtigna of the paniea.hereto. Wltonever used, the singular nismber shall include tl~ plots„ rise plural the
<br />aittgptlar, and the use d any gender shall include all gendem.
<br />No waiver of any twveeant hereto or of the obligatiao secured hereby shall at any timt thereafter be held
<br />to be a waiver of the tertlts hereof oe of the note secured hereby.
<br />4. In emnpliattee vviih section 141.11 d) of the Rata and Regulations of she Small Susitteas Administration (13
<br />Q.F.R. 101.1{d) j, ih» inrtt+tment is to be cottprt:ed attd enforced in aeeordantx with applicable Federal law.
<br />IU A }ttdicia! decree, order, or judgment holding any provision or portion of this instrument invalid or um
<br />enfaaceahle shat! not is any way impair or preclude the enforcement of the remaining provisim.u or portions of
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