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<br />8Q- t~E~562~ `:~~s~~t2
<br />-- ' 3. The mortgagor covenants and agrees that if he shall fail to pay said indehtedness or any pars thereof when
<br />dtig'or shalt sail to perform any covenant or agreement of thin instrument or the promissory note secured hereby, the
<br />attire bndebtedness hereby secured shall immediately become due, payable,..apd mNectible without notice, at the
<br />optionof the mortgagee or assigns, regardless of maturity, and.ihe rJ3ilrtjjagee or his asaignemay,before or after entry
<br />ebllsaid property without appraisement (the mortgagor having waived and assigned to the mortgagee all rights of
<br />appraisement): ~S ;3 ~'i i I~`~ /~~t
<br />_ 1 [) at judicial sale pursuant to the provisions of 28 U.S.C. 2001 (a) ; or
<br />(n) at the option of the mortgagee, either by auMion or by eolieitation of sealed bids,'far the highest and
<br />beat bid complying with the terms of sale and manner of payment specified.in the publiYlted notice: of sale, fiat
<br />giving four weeks' notice of the time, terms, and place of such sale, br-adverlisernent not less than once
<br />during each of said four weeks in a newspaper published or distrihutetl'ia the. gmfhty~iit which said property
<br />ie situated, all other notice being hereby waived by the mortgagor (and said mortgagee, of a; p perwa oa
<br />behalf of said mortgagee, may bid with the unpaid indebtedness evidenced by said note). Said Bale shall 6e
<br />held at or on the property to be acid or at the Federal, county, or city wurthouee for the county in which the
<br />property is located. The mortgagee ie hereby authorized to execute for and on behdf of the mortgagor and to
<br />deliver to the purchaser at such sale a eulficient conveyance of said property, which conveyance shalt contain
<br />recitals a .o the happening of the default upon which ±he execution of th>_ power of salt hsroin e.aattd
<br />depends; and the said mortgagor hereby conetieutes and appbinta the mortgagee ar any agent M attorne~oi the
<br />mortgagee, the agent and attorney in fact of said mortgagor to make such recitals and to ezecute said
<br />conveyance sad hereby covenants and agrees that the recitale~ao made shall be e$ectuai to bar all equity or
<br />right of redemption, homestead, dower, and all other exemptione'~'of'the martgap~or, atl of which are hereby
<br />expressly waived and conveyed to the mortgagee; or -'~~ „~. ,,.~ .,..
<br />fen) take any other appropriate action pursuant io state or Federal.atait¢te either`ih state or Federal
<br />snort or otherwise For the disposition oC the property.
<br />In the event of a sale as hereinabove provided, the-mortgagor or any person in possession under the mortgagor shall
<br />then become and be tenants holding over and shall forthwith deliver possession to the purchaser at such sale or be
<br />summarily dispossessed, in accordance with the provisions of law applicable to tenants holding over. The power
<br />and agency hereby granted are coupled with an interest and are irrevocable by death or otherwise, and are granted
<br />ae cumulative to the remedies for collection of said indebtedness provided by law.
<br />4. The peoeeeda of any Bale oC said property in accordance with the preceding paragraphs shall be applied first
<br />to pay the casts sad expenses of said sale, the expenses incurred by the mortgagee for the purpose of protecting or main-
<br />taining said property, and reasonable attorneys' fees; secondly, to pay the indebtedness secured hereby; and {hirdiy,
<br />to pay any surplus or extrss to the petsoa dr persona legally entitled thereto.
<br />5. is the ovr~t said property is sold at a judicial foreclosure sale or pursuant to the power of sale hereinahova
<br />granted, aced the praaeeda are not sn$reient to pay the fatal indeblednea ae-r:ur€d by this instrnment aced avidented !sp
<br />aid promissory note, the mortgagee will be entitled to w deficiency judgment for the amount of the deficiency without
<br />regard to apprriaement.
<br />6. In the event the mortgagor fails to pay any Federal, state, or local tax aseesement, income tax or other tax lien,
<br />charge, fee, or other expense charged against the property, the mortgagee is hereby authorized at his option to pay
<br />the same. Any some so paid 6y the mortgagee shall be added to and become a part of the principal amount of the
<br />indebtedness evidenced by said note, subject to the some terms and conditions, 1f the mortgagor shall pay and
<br />discharge the indebtedness evidenced by said promissory note, and shall pay such soma and shall discharge all taxes
<br />and liens and the costa, tree, sad experu+es of making, enforcing, and executing this mortgage, than this mortgage
<br />shall be canceled and surrendered.
<br />7. The covenants herein contained shall bind and the benefits and advantages shalt inures to the respective suc•
<br />etwon sad asaipq of the partite hereto. lpltenever used, the eiugulat number shall include the plural, the plural the
<br />aitrgtt4r, and the oat of say gender shall include all genders,
<br />8. No waiver of say covenant herein or of the obligation secured hereby shall at any time thereafter be held
<br />to ba s waiver of the tetras hereof ar of the note secured fierebv.
<br />9. Ice compiiamx with aeaioa 101.1 (d) of the Mules and Regulations of the Small Susinea Administration [ 13
<br />C.F.R. 101,1(dl ], this irtetrtimeat is to be oansirued and enforced in arxordance with applicabk Fodenl law.
<br />IU A judicial dtcreq order, oe judgment holding any provision or portion of this instrument invalid oc un-
<br />enforeeehle shall not is say way impair or preclude the enforcement of the remaining provisions nr portions o!
<br />this iaNruaaeat.
<br />saw es,a sax eaatat .•.. ,'..
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