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<br />3. The mortgagor covenants and agrees that if he »hmll fail to pay said indebtedues,; or am part thereof when
<br />due, ar shall fail to perforou an}' covenant or agreement of thin instrument ar the promi»sory note srevred lterehy, the
<br />satire indebtedness hereby secured shall immediaieh become due, payable, and collectible without notice, at the
<br />option of the mortgagee or assigns, regardless n£ maturity, and the mortgagee or his as»igna mac before or after entn
<br />sell raid property without appraisement rthe mortgagor having waieed~-and assigned to the nrartga&er al( rights of
<br />agpraisement i
<br />~ [) at judicial sale pursuant to the provisions of ZS li.S.C. 2(Nfl ~ a i : ur
<br />tit 1 at the option of the mortgagee, either by auction or by solicitation of sealed bsd», for the highest and
<br />beat bid complying with the terms of sale and manner of payment specified in the published notice of sale, firm
<br />giving four weeks' notice a( for time. term:+, and place of wrh .ale. br adrrrtixrment not less than uurc
<br />during each of said four weeks in a newspaper published or distributed in the counn~ in which amid propem'
<br />is sntuated, all other notice being hereby waived by the mortgagor !and said mortgagee, or any person on
<br />behalf of raid mortgagee, may bid with the unpaid indebtedness evidenced by said note i. Said sale shall be
<br />held at or on the property to be sold or at ihe~Federal, rnunty, or city courthouse (or the county in which the
<br />property is located. The mortgngee is hereby authorized to execute Eor and on behalf of the mortgagor and to
<br />deliver to the pruchaner at such sale a atrf&eient conveyance of said property, which conveyance shall contain
<br />:Etiitsla as to the happening of the default upon which the execution of the power of sale herein granted
<br />depends; and the said mortgagor lrerehv constitutes and appoints the mortgagee or any agent or mttorney of the
<br />mortgagee, the agent and attorney in fact of said mortgagor to make such recitals and to execute said
<br />oonveyance and-hereby covenanta and agrees that the reritals~sa made shall be effectual to bar alt equity or
<br />.right of redemption, hame»tearL dower, ,and all nthrr exrntptiona of the martgagoq ;dl oY' svptich are lxereir
<br />expressly waived an<i conveved.to the mortgagee; or
<br />but take any other appropriate action pv rsuant to stoic ur Frd'rrai statrclr either ux Mate ur (•'rdrrnl
<br />court or otherwise- for the diapoeition of the propern~.
<br />In the event of a sale as hereinbeiore provided, the mortgagor or any persons in peseeesion under the mort-
<br />gagor shall then berrome and be tena[tts holding over and shall Corthwith iielirer possession to the purchaser .rt
<br />suchealeorbeeummarilydispoasesned,in6ccordance with the provision= of law applicable to tenants holding over.
<br />The power and agency hereby granted are coupled with an inter~_t and .xrr irn•vocable be death nr otherwise, and
<br />are granted as cumulative to the remedies for collection of said inclebtrrtnesa provided by law.
<br />4. The pror>eeds of any »ale of said property in acrnrdance witC? the psereding paragraphs shall be applied first
<br />to pay the iwou sad expenses of said solo, the expenses incurred lur Che unongagee fo•r the prcrpase of pratecung or main•
<br />twining said property, and rcasotrable attorneys fer-s; secantlly, ttu pa; tltc indr-btrlhurss seccxred #urrelo-:: and i:irtllt.
<br />to pay soy surplus or excess to the person or per»nns legaliy~ ent.itleal tltrrrUr.
<br />5. In the event said property is sold at a judicial foreclosure sale or pursuant to the power of sate lcereinabove
<br />granted, and the procaeds are not avlficient to pay the total indebtedness secured by this instrument and evidenced by
<br />said promissory note, the mortgagee will be entitled to a deficiency judgment for the amount of the deficiency toithvut
<br />regard to appraisement.
<br />6. In the event the mortgagor fails to pay acct' I•'rderal, state, or la:a1 tax ussessnxrtxt, incontr tux or other tae
<br />lien, charge, fee, or other expense charged against the property' the tnurlgagrr i. hereby :urthorized at his option br
<br />pay tha same. Any soma su paid by the mortgagee shalt be added [o artd beruute a pan of the princip:d anwunt of the
<br />updebtednoas evidenced by said note, subject to the same terms and eouditions. Ef the mortgagor shall pay and
<br />discharge the indebtedness evidenced by said promissory Dote, unrlhall pay suciu sums sad shall discharge all
<br />taxes sad lisps and thn costs, foes, and expertsea at malting, enforcing, and executinit this mortgage, thou this mortgage
<br />shall be caneeded and surrendered.
<br />7. The ooveatutta btueip contained shall bind and the benefits and ad. wrtaKes shalt iuurr to the msprct ivr .nr-
<br />errwtra and aseigm of the parties hereto. Whenever used, the singular number shall include the plural, the plural the
<br />siagulrr, and the trse oI spy gendw stt:il ipciude all genders.
<br />8. No waiver of any coverraut herein or of the obligation sevurrrl Ixereby shall al nub tour therraFtrr lx- held
<br />to be a waiver of the terms hereof or of the uotr. secured herrbv.
<br />9. A judiaaf d~ree, order. or judgrneni holding auy provisiou or portiou of this iustrrment iu:.rlirl ut uuon•
<br />forceable shall sat in spy way impair ar preclude tl:e enforcement of the rrnraininK provisions or portions .:( chi..
<br />ipNrttmottt.
<br />I0. Any written notice to be ipued to the mortgagor pursuant to the provisicns of this instrument shall be ads
<br />dreasadtotlutaortga~orai 3f19 West' IJivision, Gi'tttul Island, Vetrraslttt 6$$01
<br />and any written ttotica to be issued to the rnortytagee shall
<br />ba addt+.wed to the mortgagee at Wt;;St lriird Strcaet, F' i7 13c~x It;$$, Grattei I>latiti,
<br />'rt:.:~x F,2td:tl
<br />3aA Ffjilb '3za ".2-;>:x)
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