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<br />- -3. The mortgagor covenants aad agrees that it he shall fail to pay uid indebtedtter or any part thereof when
<br />due. or shall fail to perform any covenant or agreement of thu instrument or the promissory note eetnred hereby, ilre
<br />settles indebtedness hereby secured shall immediately become dot, payable, and toAectiblrwithout notice, at the
<br />option of the mortgagee or assigns, regardless of maturity, -red the marrg~gee or h'sa assigns may before or after carry
<br />sell-said property without appraiatment {the mortgagor having waived aril 1aas7ipned to the mortgagee all rights of
<br />apyrasaement) • ~ C i i'"` E . u> r.~t=; -.. ..
<br />y t,
<br />-- I tl at judicial sale pursuant to the provisions of 28li.S.C..2001{aj; or
<br />{ u) at the option of the mortgagee, either by auction or by aolieitatioa of xakd bides'[vx thx higFMSt aad
<br />beet bid complying with the terms of ask and ma»aer of payment aped&ed iitthe publidid tmiice of eak, fie:rt
<br />giving tour weeks' notice of the time, terms, and plain. of such ~k, by-advertieemenf-not-less von-once
<br />during each of said four weeks in a newspaper published ar distribute8~481b1e"ibufafy:irt Which said property
<br />is situated, ail other notice being hereby waived by the mortgagor land said mortgagee, or~aay person ~
<br />behalf of said mortgagee, may bid with the unpaid indebttda~s evidea3xd by said note). Said_eale shall be
<br />held at or on the property to be sold or at the Ftdcral, county, or city courthoaee for the count;.in whieh~the
<br />property is located. The mortgagee is hereby anthorized to ezeavte for and an behalf of the to©e[gsgor a~ to
<br />deliver to the purchaser at such sale a sufficient conveyance of said property, which eonreyanax-shall coataut
<br />recitals ~ to the happer-sing of the default upon which the exeeutiaa of the power of safe heiin gtatsued
<br />depends; and tits said mortgagor hereby carestitutea and appoints the mortgagee or any agent or aMorney of fhe
<br />mortgagee, the agent and attorney in fact of said mortgagor to make arch recitals and to atteeute sod
<br />eonveyancr. aad hereby rnvenanie and agrera chat the recitals ao malt ahal! be effectnal to bar 8IE egetity or
<br />right esf redemption, homestead, dower, and a.ll other exemptions of the mortgagor, all of which are hereby
<br />expressly waived and conveyed to the mortgagee; or
<br />Prat) take any other appropriate action pursuant to state or Federal statute either in state ar Federal
<br />court or otherwise for the disposition of he property.
<br />fn the event of a sale as hereinabove provided, the mortgagor or any person in possession under the mortgagor shall
<br />then become and Lk tenants holding-over and' dhalt forthwith deliver possession to the purchaser at such sale or be
<br />summarily diepoeeessed, in aceordance with the provisions of law applicable to tenants holding over. The power
<br />and agency, hereby granted are coupled with an interest and arc irrevocable by death or otherwise, and are granted
<br />se cumulative to the remedies for collection of said indebtedness provided by law"
<br />4. The proceeds of any sale of said property in suozdance with the preceding pangrsohs shall 6e applied (teat
<br />to pay the costs and expeneta of said aaie, the expenses incurred by the mortgagee for the purpaae of protecting ormain•
<br />Seining acid property, and reasonable attorneys' fees; secondly, to pay the indebtedness secured hereby; :md thirdly,
<br />to pay any surplus or excess to tits person or persona kgaily entitled thereto.
<br />5. Ice, the event said prop-rty is sold at a judicial farmetasurx aaie ar pursuant to the power of aaie lsereirwbove
<br />granted, and the proms-da are-rust auFStitai to pay t#te total indtlsitdneaa secured by ihia instrument and evidenced by
<br />xid promissory cote, the mortgagee wit! be entitled to a deficiency judgmeai for the amount of the deficiency without
<br />regard to appraiaemou.
<br />6. !n the event the mortgagor fails to pay any Federal, state, or local tar assessment, income tax or other tax lien,
<br />charge, fee, or other exoenae charged aeaitest the uroperty, the neorteagee is herehv authorized at his option to pay
<br />the same. Any soma so paid by the mortgagee steal( 6e added to and become a part of the principal amount of the
<br />indebtedness evidenmd by said note, subject to the same terms and conditietee, if the mortgagor shall pay and
<br />discharge the indebtedness evidenced by said promissory note, and shall pay such sums and shalt discharge all taxes
<br />and liana and the costa, flea, and expenses of making, er:f~.cing, and executing ihia mortgage, then this mortgage
<br />eha0 be carieeled and surrendered,
<br />7. The covenants herein contained shall bind and the benefits and adventagcs shall inure to the respective attc-
<br />eeaton aad assign of the pariia hereto. Whenever axd, the singular number shall inclade the plaral, the plural the
<br />afogular, and the use o[ any geadcr shall include all geadere.
<br />$. No waiver of say covenant herein or of rise obligation secured hereby ahaf! at say time thereafter lrr held
<br />to be a waiver of the terror hereof or of the note secured hereby,
<br />9. ht compliance with section 101.1 (d) of the Rules and Regulation of the Small Buaioeas Administration [I3
<br />C,F.R. lbl-1(d) ), this iugrument is to 5rs construed and enforced io accordance with applicable Federal law.
<br />16. A judicial decree, ordtr, or judgment holding any prevision or portion of this intrument invalid or um
<br />eaforeeabk shall not in any way impair or preclude the enforcement of the remaining provision or yortion of
<br />thfs itss;runtent.
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