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i +~~~Oa 80-~ "il ~ 5 ~ 8 7 - • 3. The mortgagor covenants and agrees that if be shall fail to pay said indebtedness or any part thetsof"when- due, or shall fail to perform any covenant or agreement of this instrument o>~t~re promissory note secured !fealty; the - snttre.indebtedneas hereby secured shalt immediately become dur,~}tay~able,.and coltectiblei without reOtiee,-si~.the. option of the mortgagee or assigns, regardless of maturity, and the mortRageebr his aeeigne ina9 before or after entry eels said property without appraisement (the mortgagor having wtiyted ppd;{tpeigoed to`fhe~4rtgages alt rights of a~praisement): ~ 1!1 , I t) at judicial sale pursuant to the provisions oi'l8 iLS.C. 2(Nll (a j : ar (n) at the option of the mortgagee, either 6y auction or by solicitation of eetilCd bida,~for the highest utd bat bid complying with the teams of sale and manner of payinlne.speeibbal in the ptsbiriahed notice of uk, first giving four weeks' notice of the time, terms, and place of sucfrsaler:by.advsC}ieetnpnt not leas than once .during each of said four weeks in a newspaper published or distributed ~ir. the county in which said property. is situated, all other notice being hereby waived by the mortgagor (sad said mortgagee, or any person aa- behalf of said mnrtgaget, may bid with the unpaid indebtedneaa evidenced by said Hate). Said sale shalt be- held at or on the property to be sold or at the' Federal, county, or city courthouse for the county in which the= properly is located. The mortgagee is hereby authorised to execute for and on behalf of the mortgagor and to deliver to the purchaser at such sale a sufficient conveyance oP said property, which conveyance shall contain reeisla a• to the happening of the default upon which the execution of the power of sale herein granted depends; and the said mortgagor l.erebp conetiWta and appoints the mortgagee or any agent or attorney of the mortgagee„ the agent and attorney in Fact of said mortgagor to males such recitals sad to execus said conveyance and hereby rnvenante and agrees that the recitals so made shall be effectual to bar all equity or right of redemption, homestead, dower, and all other exetnptions of the mortgagor, all of which are hereby expresalr• waived and conveyed to the mortgagee; or i ut) take any other appropriate action purenant to state or Federal statute either in state or Federal court or otherwise [or the disposition of the propert}'. [n the event of a sale as hereinabove provided, the mortgagor or env person in poaseesion under the mortgagor shall then become and be tenants holding oret and shall forthwith deliver posses.+ion to the purchaser at such sale or be enmmarily dtepoaeesaed, in accordance with the provisions of law applicable to tenants holding over. The power and agency hereby granted are coupled with an interest and'are irrevocable by death or otherwise, and are granted as cumulative to the remedies for collection of said indebtedness provided by law. 4. The proceeds of any sale of said property in accordance with the preceding paragraphs shall be applied fast to pay 4he costa end e:pettea of'said sale, the expenses incurred by the mortgagee for the purpose of protecting or main• lathing said prolx!rty, and- reaatmable attorneyii fees: secondly, to psyche indebtedness secured ftereby; and thirdly, to: pay any -surplus or excess to the person or+persona- legally entitled thereto.. 5. In the event said property is sold ai a jndse+al foreclosure eats ar pusuani to ihs power of sacs hereinabove graated;'and the proceeds arc not euffteienE to pay tits total indebtednea aesursd by t?tia inatnment and rvtdancsd by said gromiaaory note, the mortgagee will be entitled to a deficiency judgment for the amount of the dejscieney u;itnour regard to appreisement. 6. [n the event the nwrlgagor fails to pay any Federal, state, or local tax assesamrnt, income tax or other tax lien, charge, fee, or other exfmnee charged against the property, the mortgagee is hereby authorized at his option to pay the same. Any soma so paid by the mortgagee shall 6e added to and become a part of the principal amount of the indebtedness evidenced by said note, subject to the same terms and conditions, If the mortgagor shall pay and discharge the indebtedness evidenced by said promissory note, and shall pay such sums and shall discharge all taxes and !lets and the rost& fees, and expenses of making, enforcing, and executing this mortgage, then this mortgage shall be canceled and surrendered. ?. The eavenanta heeein twntained shall bind and the benefits and advantages shall inure to the respective auc• cerpre and assigta of the parties hereto. CVheasver used, the singular number shall include the plural, the plural the singnLr, sod the tae of any gender shall include all geodes, 8. No waiver of say covenant herein or of ilia obligation sscurxd hsreby shall at any tirjr lherr:after be held to be r waiver of the !arms 6ereo( or of the nose secured hereby. 9. In comphanee with section lUl.l (d) of the Rules and Regulations of the Small Business Admiaiatratiou [13 C.F.R. 1011 {d) ), this instrument ie to be construed and entnrccd in accordance with applicable Federal law. IU. A judicial decree, ordeq or judgment balding any pravieion or portion of this instrument invalid or un- enforceable shall not in arty way impair or preclude the euforcemrnt of the remaining provisions or portion- oL thin inatrumonY, +ap ra.a sax ev.-:at ~ _.