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<br />3 The mortgagor covenants and agrees that it he shall fail to pa}' said indebtedness see any part thereof when
<br />due: ar shalt fail to perform any covenant or agreement of this instrument or the promissory note secured hereby, the
<br />et7ttre indebtedness hereby secured shalt immediately become due,,pavah,4r,atid-eolleetifshe without notice, artlte
<br />aplian of the mortgagee or assigns, regardless of maturity, andthe moAg~gee or his assigns may before or after entry
<br />cell said property without eppraisement (the mortgagor having waived and assigned to the mortgagee all rights of
<br />1 t) at judicial sale pursuant to the provisions of P$ U.S.C. 20011a) ; or
<br />Qt) at the option of the mortgagee, either by auction or by solicitation of xaled bids,'for the highest and
<br />best bid complying with the terms of sale and manger of payment speci(ie$'in the pubiia}ted notice of sate, fitaY
<br />giving four weeks' notice of the time, terms, and place of sueheale; by' advertlsemept not leas than once
<br />during each of said tour weeks in a newspaper published or distributed jn the codrity iri which said propertq
<br />is sitnated, all other notice being hereby waived by the mortgagor (and said mortgagee, or any person mt
<br />- behalf of said mortgagee, may bid with the unpaid indebtedness evidenced by said note). Said sale shall be
<br />held at or on the property to be sold or at the Federal, cortnty, or city courthouse for the county in which the
<br />property ie located. The mortgagee ie hereby authorized to execute for and on behalf of the mortgagor and to
<br />deliver to the purchaser at such sale a sufficient conveyance of said property, which conveyance elull contain
<br />recitab as to the happening of the default upon which the execution of the power of Bale hereitt granted
<br />depends; and the said mortgagor hereby conetitutea and appoints the mortgagee or any agent or attorney of the
<br />mortgagee, the agent and attorney in tact of said mortgagor to make such recitals and to execute said
<br />conveyance and hereby covenants and agrees that the recitals eo made shall be eHectnal to bar all equity or
<br />right of redemption, homestead, dower, and all other exemptions o(the mortgagoq all of which are hereby
<br />expressly waived and conveyed to the mortgagee; or
<br />(m) take any other appropriate action pursuant to state or Federal statute either in state or Federal
<br />court or otherwise fur the disposition of the property.
<br />In 4he event of a sale es hereinabove provided, the mortgagor or any person in possession under the mortgagor ehatl
<br />then became and be tenants holding over and sha]I forthwith deliver possession to the purchaser at such sale or be
<br />summarily disposseasod;_in accordance with_'tlie provisions of law applicable to tenants holding over. The power
<br />and agency hereby grarifi;date coup5lad;ojrith~,au; interest and are irrevocable by death or otherwise, and are granted
<br />ae cumulative to the eemediaa-for certiea ef,aaid,indebtedness provided by law.
<br />4. The proceeds of soy sale of said property in accordance with the preceding paragraphs shall be applied first
<br />to pap the costs and expenses of said sale, the expenxs insured by the mortgagee for the purpose of protec4ing or main-
<br />eaining said property, and reasonable attorneys fees; aetcondly, to pay the intlebtednese secured herebya and thirdly,
<br />to pay any surplus or exgeas to the person or persona iegal!y entitled thereto.
<br />5, Etr the event said pm~,ar4y is sold st a judicial foreclosure sale or pursuant to the power of solo hereinabove
<br />granted, and the proceeds mire not. su45cient to pay Oho total indebiedrem accnrcaf by his ittsttatment anti evidenced by
<br />said promissory note, the mortgagee will be entitled to w deficiency judgment forihe amount of tisedeficfsxecT::_;:thtrtrlC
<br />refined ro appraiaement.
<br />6. In the event the mortgagor Tails 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 hereby authorized at his option to pay
<br />the same. Any sums so paid by the mortgagee shall be added to and become a part of the principal amovnl of the
<br />indebtedness evidenced by said note, subject to the sumo terms and conditions. If the mortgagor shall pay and
<br />discharge the indebtedness evidenced by said promissory »ute, and shall pay such sums and shall discharge all taxes
<br />and liens and the costa, Sees, and expenses of making, enforcing, and executing this mortgage, then Brie mortgage
<br />ahdll bx canceled and surrendered.
<br />T. The covenants herein contained shalt bind and the benefits and advantagca shall inure [o the respective sun
<br />cesaoro and aasigm of the parties hereto. lpheaever used, the singular number shall include the plural, the plural the
<br />sistgnLr, and the rue of any gender shall innlude alt gandero.
<br />8. No waiver of soy caveaant herein or of the obligation secured hereby shall at any Limo thereafter he held
<br />to be a waiver of the terms hereof or of rho note secured hereby.
<br />9. In compliance with seetiwn 10i.1(d) of the Rules and Regulatioeu of the Small Huaitaeaa Administration (13
<br />C.F.R. 1®1,1(d) )` thu tnatrument is to be construed and enforced in accordance with applicable Federal law.
<br />10. A judicial dcereo, order, or }udgmeni holding any provision or portion of this instrument invalid or un-
<br />eaforceable shall sat itt env way impair or preclude the enforcement of the remaining provisions or portions of
<br />lhia inetrumen2.
<br />sea r... vst is-ear .. .
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