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$~--= tt~ 559[ _ ___ _ ":
<br />-' -- 3. The mortgagor cavenante sad agrees that if he shall fail to pay acid ~ferdebtrdn+rts dr any part thereof wltell
<br />dug or shall fail to perform any covenant or agreemen¢ of this instrumem of the ~trotniasory note assured hereby, the
<br />eMSreindebtednesa hereby secured shall immediately become due, 1FgrablF;•~'stfd~coll~ectible'withoat notice, at the
<br />option of the mortgagee or assigns, regardless of maturit}', and the mortgagee or leis aesf~ne may before er-after entry{
<br />ee}}-said property without appraisement (the mortgagor having waiv^~anrj sAitgtted, to the mortgagee a}} rights of
<br />appraisement): 1C\-~.i t ,.,
<br />- 1 t) at judicial sale pursuant to the provisions of 2$ U.S.C. 200] (a) ; or - -
<br />(tt) at the option of the mortgages, either by auction or by solicitgtien of seakt3sida,~far thehigbest atsd
<br />beet bid complying with the terms of sale and meaner of paymentgd in the published notice of Bale, Brat
<br />giving four weeks' notice of the time, terms, and place of such ea1t;,.lty.adt5ertieemettt ..^.at lessahan once
<br />during each of said font weeks in a newspaper published or distributed-in the county in which esid property
<br />• u situated, all other notice being hereby waived by the mortgagor (and said mortgagee, or any person on
<br />behalf of said mortgagee, may bid with the unpaid indebtedness evidenced by said note). Said sale shall be
<br />held at or on the property to be Bold or at the Federal, county, or city rnurt6onse far the county in which the
<br />property ie located. The mortgagee is herebpauthorised to execute Eor and on 6ehalC of the mortgagor and to
<br />deliver to the purchaser at such Bale a sufficient conveyance of said property, which conveyance shall contain
<br />reeitale as to the happening of the default upon which the e:ecutioa of the powee of sale herein granted
<br />depends; and the said mortgagor hereby constituted and appbints the mortgagee or any agent or attorney of the
<br />mortgages, the agent and attorney in tact of said mortgagor to make such recitals and to a=ecnte add
<br />conveyance and hereby covenants and agrees that the recitals so made shat] be eHestual to bar all equity or
<br />right of redemption, homestead, doweq and all other erxemptions of the mortgagoq all of which are hereby
<br />expressly waived and conveyed to the mortgagee; m
<br />!m) take any other appropriate action pursuant to state or Federal statute either in state or Federal
<br />court or otherwise for the disposition oC the praperty.
<br />In the event of a sale as hereinabove provided, the mortgagor or say person in possession under the mortgagor shall
<br />then become and be tenants holding over and shall forthwith deliver possession to the purchaser at ouch sale or be
<br />summarily dispossessed, in accordance with the provisions of law applicable to tenants holding over. The powee
<br />and agency hereby granted are coupled with an interest and are irrevocable by death or otherwise, and are granted
<br />as cumulative`fo the remedies for collection of said indebtedness provided by law.
<br />4. The prooaede of say Bale of said properly in accordance with the preceding paragraphs shall be applied first
<br />to pay the costa and expenses of uid sale, the e:pelnae6 incurred by the mortgagee for the purpox of protecting or mein-
<br />tdning said property; and reasonable attorneys` free; secondly, to pay the indebtedness secured hereby; and thirdly,
<br />to pav any surplus or excess to [he person or persons legally entitled thereto,
<br />S, la then ey~nt said-property is said al a judieiill foreclosure sal- or pursuant to the paws: of sale hcreinabove
<br />granted, and the proceeds arc not eudicieni to pay the total indcbtedneee saco~ttd t;y this inetrumcat and evidenced by
<br />said promissory note, the mortgagce will ho entitled to a deficiency judgment for the amount of the defocienoy withottd
<br />rego-d to approixment.
<br />b. In the event the mortgagor fails to pay any' Federal, state, or local tax assesemeut, income tax or other tax lien,
<br />eharge,fee,or other expense charged against the praperty, the mortgagee is hereby authorised at his option to par
<br />the same. Any sums so paid by the mortgagce shall be added to and become a part of the principal amount of the
<br />indebtedness evidenced by said note, subject to the same ternts and conditions. If the nutrtgagor shall pay and
<br />dixharge the indebtedness evidenced by said promissory Hate, and shall pay such sums and shall discharge all taxes
<br />and liens and the costa, fees, and expenses of making, enforcing, and executing this mortgage, then this mortgage
<br />shall be canceled and surrendered.
<br />7. The covenants herein contained shall hind and the benefits and advantages shall inure to the reapectiva suc-
<br />cason sad assigns of the parties hereto. Whenever used, the singular number shalt include the plueal, the plural the
<br />aingalar, and the use of any gender shall include all genders.
<br />B. No waiver of any covenant herein or of the obligation secured hereby steal) at any lima thereafter Fez hold
<br />to ba a waiver of the terms hereof oc of the note secured hereby.
<br />9, In complianct with section 101.} (d) of the Rules and Regulations of the Small Auaiaes- Admiaistniioa (13
<br />C.F.R. 111}.} ]d) j, this instrument is to 6e construed and enforced in accordance with applicable Federal law.
<br />IU. A judicial decree, order, or judgment holding any provision or portion of this instrument invalid or un-
<br />eaforceable shall not in any way impair ar preclude the enforcement of the remaining provisions or portions of
<br />this instrument.
<br />aaA r~,y 9ar 1~-Ta!
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