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<br />-~ -: 3. The mortgagor covenants and agrees that if he ahaIi fail to pay said indebtedne~,or any part thereof when
<br />deie, ar shalt fail to perform any covenant or agreement of this insirup;,en(ny d±cprornigsor~•.note secured hereby, the
<br />msire' indebledneae hereby secured shall immediately become dae~~ay~ble, and colktible without notice, at the
<br />epxioa of the mortgagee or aseign0. regardless of maturity, and- the mortgagee or his assigns may before or oiler eniey
<br />sal! said property without appraieemeni (the mortgagor having wa~v~d 3~d~seignpd tnthe }gtt~tgagce all rightrgf
<br />appraisement) : l •i~ "1't
<br />- Ill at judicial sale pursuant to the proviaionsoF2$ U.S.C. 2001 (a); or
<br />(n) at the option of the mortgagee, either by auction or by aolieitation of seated-hide; for the highest sad
<br />:best bid complying with the terms of sale and matmer of payment apeitiited in the published notice of salt, first
<br />giving hour weeks' notice of the time, farms, and place of such=saFe;'by:~dgertiseittbnt not leas than ogee
<br />during each of said four weeks in a newspaper published or distributed in the county in which said property
<br />-is situated, ail other notice being hereby waived by the mortgagor (and acid mortgagee,~or any person oa
<br />behalf of said mortgagee, may bid with the unpaid indebtedness evidenced by said note). Said Bale ehal! Ire
<br />held at ar oa the property to be sold or at the Federal, county, or city courthouse for the county vt whichlhe
<br />property ie located. The mortgagee ie hereby authorised to execute for and on behalf of the mortgagor anaYo
<br />deliver to [he purchaser at such Bale a sufficient conveyance of said property, which conveyance shall contain
<br />recitals as to the happening of the default upon which the execution of the power of eak herein granted
<br />depen ds; and LSa said marigagoe hereby constitutes and appbinte the mortgagee or any agent or attoroey of the
<br />mortgagee, the agent and attorney in feet of said mortgagor to make such recitals and to exewte acid
<br />conveyance and hereby covenants and agrees that the recitals ao made shall be effectual tm bar alt equity or
<br />right of redemption, homestead, dower, and all other exemptions of the mortgagor, all of which era hereby
<br />expressly waived and conveyed to the mortgagee; or
<br />(in) take any other appropzsate action pursuant Io state or Federal statute either in state or Federal
<br />court or otherwise for the disposition oC the property.
<br />In the event of a.~ie as hereinabove provided, the mortgagor or any person in possession under the mortgagorsball
<br />then become and be tenants holding over and shall forthwith deliver possession to the purchaser at such sale or be
<br />summarily dispossessed, in accordance 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 cumulative to the remedies for eoilection,ot said indebtedness provided by law.
<br />4- The proceeds of any sale of said property in accordance with-the-preeediag paragraphs shall be applied Bret
<br />to psy the costs and"expemea of said sale, the expenses incurred by the mortgagee for the purpose of proteoting or main-
<br />taining said property, and re6ponable attorneys' fr_es; se}~ondly, to pay the indebtedness secured hereby; and thirdly,
<br />to pay env ettrptaa or excess to the'peraon or persons legally entitled thereto.
<br />5. In the event said property is sold at a judicial foreclosure sale or purewnt to the power of oak hereinabave
<br />granted. asd the prae~da are not snffwient to p.y the fatal "rndehtedness secured, by this insi(rnmant and evidenced by
<br />acid promi~ory ttote, the mortgagee will be entitled to a deficiency judgment for the amount of the deficiency withoat
<br />regard to sppreiaement.
<br />6. In the event the mortgagor fails to pay env Federal, state, or local tax assessment, incomr. tax or other tax lien,
<br />chsrge,fee,or other expense charged against the properly, the rnortgagee ie hereby authorised at his option to pay
<br />the same. Any soma ao paid by the mortgagce shall be added to and become a part of the principal amount of the
<br />iadebtedneaa evideuced by acid note, subject to the name terms and conditions. if the morigsgar shall pay sad
<br />disdtarge the indebtedness evidenced by said promissory note, and shat) pay such sums and shall discharge all taxes
<br />a»d !testa and the costa, Peas, and expenses of making, enforcing, and executing this mortgage, then this mortgage
<br />ehaU be canceled and snrrettdered.
<br />7. The covenanb herein contained shat! biod and the benefits and advantages shall inure to the respective suc-
<br />cessors attd assigns of tine parties 6erota R'heaever used, the singular number shall include the plara4 the plural the
<br />ai~galar, and the tree of any gender shall inclade aU gmdan.
<br />$• No waiver of a.~y covertaat berets or of the obiigatioa secured hereby shall at soy lima thereafter be held
<br />to bs n waiver of the terms hereof or of the note secured hereby,
<br />S, In compliance with section 101.1 (d) of the Rotes and Regulation of the Small Buaisesa Admiwistratioa [33
<br />C.F.R. 1(111 (d) ), this inetrutueat is to be construed and enforced in acrnrdance with applicable Federal {aw.
<br />10. A judieialdeeree, ozdee, or judgment holding any provision or portion of this instrument invalid or un-
<br />enforceable shall nw in any way impair or preclude the enforcement of the remaining provisions or portion of
<br />this.inirument.
<br />sea r.,. vrr Ia_yst _~ ~- „> >,~
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