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<br />- 3: The mortgagor covenants and agrees that if he shall fail to pay eaid.~sndelxedneea or any part thertof--when-
<br />dnG or shall fail to perform any covenant or agreement of thus instrument or the promissory note secured Hereby, ehc-
<br />e>nire indebtedness hereby secured shall immediately become due, payable, and collectible without notice, at_the
<br />option of the mortgagee or assigns regardless of ma€urity, and the thert~aRee or his assigns rttay be{ore or after entry:
<br />Bell said property without apprainement (the mortgagor having waived and assigned to the mortgagee all rights of
<br />;:x
<br />appraiaement): (.i( it li?i ~ i; .,,
<br />1 t) a[ judicial sale pursuant so the provisions of 2$ U.S.C. 2001(a) : or
<br />(n) at the option of the mortgagee, either by auction or by solicitation of sealed bide,•for the bighnt a~
<br />beet bid complying with, the terms of sale and manner of payment specified is the pub~lBlhed notice e[ sale, fii!et
<br />giving four weeks' notice of ¢he time, terms, and place oC such tale, by advertisement not lese~than arcs
<br />during each of said lour weeks in a newspaper published or dietribuEed-ie tllt county `tn which said property
<br />is eitaatcd, alt other notice beiag hereby waived by the mortgagor (and said mortgagee, or say perwn on
<br />behalf of enid mortgagee, may bid with the unpaid indebtedness evidenced by said note). Said Bale shall be
<br />held at or oa the property to be sold or at the Federal, county, or city courthouse for rite county in which the
<br />property u located. The mortgagee is hereby authorised to execute for and on behalf of the mortgagor sad to
<br />deliver to the purchaser at such sale a euflicient conveyance of said property, which conveyance shall contain
<br />reeitala as to the happening of the defaule upon which the execution of the power of sale hereia granted
<br />depends; and the said mortgagor hereby constitutes and appoints the mortgagee or any agent or attoroeyof the
<br />mortgagee, the agent and attorney in (act o[ said mortgagor to make such recitals and to ezecute said
<br />conveyance and hereby covenants and agrees that the recitals so made shall be effectual to her elf equity or
<br />right of redemption, homestead, dower, and all other exemptions of the mortgagor, all of which arc hereby
<br />expressly waived and conveyed to the mortgagee; or
<br />tut) take any other appropriate action pursuant to elate or Federal statute either in state or Federal
<br />court or otherwise for the disposition of 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 temnta holding over and shall forthwith deliver possession to the purchaser ai such sale or be
<br />summanly dispoeseseed,' in accordance with the provisions of law applicable to tenants holding over. The power
<br />and agency hereby granted a{e coupled with an interest and are irrevocable by death or otherwise, and are granted
<br />ae cumulative to the temediee~for coilection~oi said indebtedness provided by law.
<br />4. The proccade of any sale of rid property in aceordaace with the preceding paragraphs shall be applied first
<br />to pay the costa sad expenses of esid~wle, the expenses incurred by the mortgagee for the purpose of protecting or maio-
<br />twining said property, and- reasonable attorneys' fees: secondly, topaylthe-indebtedness secured hrreby; and thirdly,
<br />tv pay any surplus or excess to cite person or pereoltn legally entitled thereto.
<br />3. In rho rvcm said property is sold aE s judicial f6reeloeure sale or pursuant to the power •of sale hereinabove
<br />granted, and the proomede are not eu~cient to_ pay the total indebtedness secured by this inetrnntent and evidenced by
<br />said promissory note, the mortgagee will be entitled to ~ deficiency judgment far the amount of the deficiency without
<br />regsrd to approixment.
<br />fi. In the event the mortgagor fails to pay any Federal, state, or local tax assessment, income tax or other tax lien,
<br />charge, fee, or other expense charged against the property, the mortgagee is Lereby authorised at his option to pay
<br />the same. Any sums so paid by the mortgagee shall be added to and become a pan of the principal amount of the
<br />indebtedness evidenced by said note, sub}act to the same terms and conditions. 1f the mortgagor shall pay and
<br />discharge the indebtedness evidenced by said promissory note, and shall pay such sums and shall discharge all taxes
<br />and liens and the coats, fees, and expenses of making, enforcing, and executing this mortgage, then thin mortgage
<br />ehalYbe canceled and surrendered.
<br />"f. The eovenante herein rnntained shall bind end the benefits and advantages shall inure to the respective eac-
<br />ceeaota and assigns of the parties hereto. Whenever used, the singular number shall include tht plural, the plant the
<br />siagttlar, and the we of any gemkr shall include all genders.
<br />8. No waiver of say covenant herein or of the obligatioa secured hereby shall at any time thereafter be held
<br />to be a waiver of the !acme hereof or o[ the note secured hereby.
<br />9. In compliance with section 101.1(d) o[ the Rules and ReguLtiorts of the Small Busioeu Admiaistntion (13
<br />C.F.R. 10I.1(d) }, this instrument ie to be construed and enforced in accordance, with appifeablt Federa! law.
<br />1tR A jadicia! decree, ordeq or judgment holding any provision or portion of this instrument invalid or un-
<br />eniorceable shall not in any way impair or preclude the enforcement of the remaining provisions or portions of
<br />thia.instrument.
<br />8BA 1~.~ 91T (}.Ta! .NC '?l9 )3H
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