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<br />3. The mortgagor covenants and agrees shat if he shall foss to pav _ i"ttlednem or any part thereof when
<br />doe; or shall fail to perform any rnvenant or agreement of this inatrnm~#tt,of'. thgpt'amisenry note secured hereby, the
<br />spirt indebtedness hereby secured shall immediately become dgg ¢avaiile;- and`. c~lectiblc without notice, at the
<br />option of the mortgagee or assigns, regardless of maturity, and the mortgaget or hit e~igns may before or afar entry
<br />self;aaid property without appraiaement (the mortgagor having lrgjved anted assigned to the mortgagee all righb of C
<br />appnirement): i] ~ iii g },jyt (tie 'T
<br />I t ~! at judicial sale pursuant to the provisions of 28 ll.S.C. 2001(a) ; or -'. -'= ;j
<br />{u) at the option of the mortgagee, either by auction or 6y solicitation of sealed bids,'for the hig}test~atitl `-
<br />`bast hid cam 1 n with the terms of sale and manner of t
<br />P Yi g ptvppetit gpeai[iexl in the published notice of a61e.~firK -.:'
<br />giving four weeks' notice o! the time, terms, and place of auc}~_sple,,,by advertipement not leas ttirn once ==
<br />during each of said four weeks in a newspaper published or distributed 1kHiSeicouitty in which said pYOperty _
<br />' is situated, all other notice befog hereby waived by the mortgagor {sod said mortgagee, or any parson on~-;.
<br />behalf of said mortgagee, rosy bid with the unpaid indebtedness evidenced by said note). Said sale ehafl be
<br />held at or on the property to 6e sold or at thdFederal, county, or city courthouse for the county in which tha
<br />property is located. The mortgagee is hereby authorised to execute for and on behalf of the mortgagot and to'-.:
<br />deliver to the purchaser at such sale a eulficient conveyance of said property, whtch r_onveyance shall contain
<br />recitals as to the happening of the default upon which the ezecution of the power of sale herein granted:.
<br />depends; and Lka sa:d Tot ag:gcr hen,~.y eeastiiutts and appbinta iht mortgagee or any aga`nt or atwrttep of thr
<br />mortgagee, the agent and attorney in fact of said mortgagor to make such retitala and to a:cants aside
<br />eonveyanee and hereby covenants and agrees that the recitals so made shall 6e effectual to bar all egaity or
<br />right of redemption, homestead, dower, and alI other exemptions of the mortgagor, ail of which art hereby
<br />expressly waived and conveyed to the mortgagee; or
<br />(ut) take any other appropriate action pursuana to state or Federal statute either in state or Federal
<br />court or otherwise for the disposition of the property.
<br />In the ewent of a sale as hereinabove provided, the mortgagor or any person in possession under the mortgagor shall
<br />then become and be tenanu holding over and shall forthwith deliver possession to the purchaser at such sale or 6e
<br />summarily dispossessed, in accordance with the provisions`af-~law,:applicable to tenants holding over. The power
<br />and agency hereby granted are coupled with an interest antl~re7r'revocable by death or otherwise, and are granted
<br />as cumulative to the remedies for collection of said.,iadeL~tudp'a`-ptpvided by law.
<br />4. The proceeds o[ any sale of acid property,in aaordanca with the preceding parrgcaphs shall be applied Brat
<br />to pay the coats and expenses o(said sale, the expenses incurred by the mortgagee for the ourpasa of protcetirtg or main.
<br />taming said property, and reasonable attorneys' fees; secondly, to pay the indebtedness secured hereby; and thirdly,
<br />to pay any surplus or excess to the peroon or perstrns legally entit.lad. thereto,
<br />5. In iha event said property is sold at a judicial forrc}onure salt or pursuant to the power af' sale hereinabova
<br />granted, and the prdveeds are sot an~eient to pay the total indeb€edness secured by ¢his instrnmatt2 and evi$eaeed by
<br />said promissory notq the mortgagee will lea enti¢led to a daficieneq judgment for the amount of the dejiarianty urithwtt
<br />regard to spprsisematt.
<br />6. In the event the mortgagor fails to pay any Federal, state, or local tax aasensment, incmne tax or other tax lien,
<br />charge, see, ar other expertee charged against the property, the mortgagee is hereby authorised at his option w pay
<br />the same. Any sums so paid by the mortgagee shall 6e added to and become a part of the principal mnount of the
<br />indebtedness evidenced by said note, subject to the same terms and conditions. IC the mortgagor shall pay and
<br />dixharge the indebtedness evidenced b}- said promissory note, and shall pay such sums and shall discharge all taxes
<br />and iiera and the costs, fees, and expenses of making, en(oming, and executing this mortgage, deco this mortgage
<br />shall be canceled and surrendered.
<br />7. The covenants herein cotuaitted abaft bind and the benefits and advantage shall inure to the respective sus
<br />ctstgn and tasigru of Iha parties here¢o. Wheoevar used, the singular ngmber shall include the plural, the plum the
<br />up~ttlar. and the usa of uy gander shall include all genders.
<br />@. No waiver at any eorensnt l~tein or of the obligation secured hereby shall mt any time thereafter be held
<br />to be a waiver of tha farms hereof or of iht note secured hereby.
<br />9. In compliance with section 101.1(d) of the Rules and Regulations of the Small Ruainese Adminia[ntion [ 13
<br />C.F.R. IOl.lid) ), thin inurument is to be ettoalrued and enforced in accordance with applicable Federal law.
<br />l0. A jud'uial decree, ardeq or judgment holding any provision or portion of this instrument invalid or un•
<br />enforeeahk shall out ins any way impair or preclude the tn[orcement of the remaining provisions or portions a[
<br />ehia imyrumant.
<br />4iA stew M]T fY-Tr' ~ ~. ~.
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