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<br />3. The mortgagor covenants and agrees that if he shall fail to pay said indebtedrteps w any part theuof when'
<br />dttq or shall fail to perform any covenant or agreement of this inat_nrment,or the promissory note second hereby, the
<br />esttire indebtedness hereby secured shall immediately become dae;~yshte; and rolieti6ltwithout nots'ee, attife5
<br />op4ioa of the mortgagee or assigns, regardless of maturity, and the mortgagee orhis a~ignb inaj before or after eater,
<br />aeFl-said property without appraiaement (the mortgagor having wa~p1 aw3 aesigne~ to mortgagee ail"rights-of.
<br />tippraisemeot): i' '
<br />1 t i at judicial sale pursuant to the provisions of 2g L.S.C. 2001(a) ; or
<br />(it) st the option of she mortgagee, either by auction or Ly eohcitation of eeali±d.bida,"for the hi)gbeat awl°°
<br />best bid cemplving with, the terms of sale and manner of paymenCepeeified in fire published notice of'aaie, first
<br />giving foot weeks' notice of the time, terms, and place of such sale;;by_-adv~ryseitpcnt not leas than once
<br />during each of said four wetke in a newspaper published or distributed in the`ciiunty in which said property
<br />is situated, ail other notice being hereby waived by the mortgagor (sad said mortgagee, or any perwa m
<br />behalf of said mortgagee, may bid with the unpaid iadebtedneae evidenced by said note). Said sak shall be
<br />held at ar oe the propertq to be sold os at the Federal, county, or city courthouse for the county in which tits
<br />property is located. The mortgagee is hereby authorised to ezecute for and on behalf of the mortgagor and to
<br />deliver to the purchaser at such sale a sufficient conveyance of said property, which conveyance shall contain
<br />recital as to the happening of iks default upon which the eaecutiaa of the power of sale betels grated
<br />depends; and the said mortgagor hereby constitutes and appbinta the mortg:gee or any agent or attorney of the
<br />mortgagee, the agent and attorney in fact of said mortgagor to make such recitals and to eztcute said
<br />eonveyaaee and hereby rnvenaats and agreta that the recitals so made shall be eflectuai to bar ail equity or
<br />right of redemption, homestead, dower, and all other exemptions of the mortgagor, all of which art hereby
<br />expressly waived and conveyed to the mortgagee; or
<br />(ut) take any other appropriate action pursuant to state pr Federal statute tither in state or Federal
<br />coot[ or otherwise for the diapasition of the properh~.
<br />In the event of.a ease as hereinabavt provided, the mortgagor rvr any person in possession under the mortgagor shall
<br />then become and be tenants holding aver and shall forthwith deliver poeseeaioa to the purchaser at such sale or be
<br />summarily dispossessed, in accordanre with the provisions of law applicable, to tenants holding over. The power
<br />and agency -hereby granted are coupled with an interest and are irrevocable by death or otherwise, and are granted
<br />ae cumuiativa_to.tbe remedies forsoilectioa. of said indebtedness provided by law.
<br />4: The prorxeds of any axle of said property in aceordance with the preceding paragraphs shall be applied first
<br />to pay the costa and espeneea of said safe, the expenses incurred by the mortgagee for the purpose of protecting ormain-
<br />taining~ said property, and reasonable attorneyp'~, fees; secandiy,,to.pay i9teinwielatedmeas s{scrtred hereby; and thirdly,
<br />to pay any surplus or execsa.ta the pezaan.ar-peraana }egally entitled.thereta.
<br />S. :la She eves property is said a: a jvdieial'foreclosnre sale or pursuant to the power of sale hereinal:ove
<br />granted, sad the procetda arc not euBteient to pay the fatal indebtedness secured by this irutrvment snd eridented by
<br />said promissory note, the mortgagee will be entitled to a deficiency judgment for the smouat of the deficiency witftou!
<br />regard to appraiaeatent.
<br />b. In the event the mortgagor fails to pay any Federal, state, ur local tax aseessnrenb income tax or other tax lien,
<br />charge, fee, ar other expense charged against the property, the mortgagee is hereby authorised at his option W pay
<br />the same. Any sutna art paid by the mortgagee shall be added to and become a part of the principal amount of the
<br />indebtednr a evidenced 6y said note, subject to the same teens and conditiorts. Ii the mortgagor shall pay and
<br />discharge the indebtedness evidenced by raid promissory note, and shall pay such sums and shall discharge all fazes
<br />and liens and the coats, fees, sad expenses of making, enforcing, and executing this rnortgage, then this mortgage
<br />shall be canceled and aurrenderod.
<br />7. The covenanp herein contained shall bind and the benefits and advantages shall lours to the respective suc-
<br />cessots and assigns of the partip hcratw. Whenever used, the singular number ahdl include the plural, the plum the
<br />etasular, and the use of any gender shall include al! geadera.
<br />g. 1Vo waiver of auy covenant heroin or of the obligation secured hereby shall at any time thereafter be held
<br />to be a waiver of the terms hereof ur of the note secured hereby.
<br />9. In compliance with section 101.1(d) of the Rules and Regulations o[ the Small Business Administration [13
<br />C,F.R 1Q1.1(d) ), this instrument is to be construed and enforced in accordance with applicable Fedtra! {aw.
<br />IU A judicial decree, order, or judgment holding any provision or portion of this instrument invalid or un•
<br />enforceable shall nat in any way impair or preclpde.tbe enforcenreai of the rentrining provisions or portions of
<br />this ittstrumeat.
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