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<br />$~-- c)f~ 569 ~ ~ ~ ~ ~ ~;
<br />3. The mortgagor covenants and agrees that if he shalt fail to pay said indebtednea or any part thereof when
<br />due, ar shad fail to perform any covenant or agreement of this instrrmeni or the piamiesory note secured hereby, the
<br />entire indebtednem hereby secnced shall immediately become due, a}'able, and ~colleetibfe without notice, at the
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<br />option of the mortgagee or assigns, regardless of maturity, and the mortgagee or his assigns r~iay'bi•forc or after entry
<br />aeB said property without appraiaement (the mortgagor having waived and ashi~ned to the morttagee all rights of
<br />eppnisement) : ~ F it . , ~ j ?:, ? o
<br />1 t) at judicial sale pursuant to the provisions of 28 li.5.(:. 2001(a) ; or
<br />(tt) at the option of the mortgagee, either by auction or by wlicitation of eealed•bide,•for the highest and
<br />best bid complying with the terms of sale and mamer of payment specified in the published notice of sale, first
<br />giving tour weeks' notice of the time, terms, and place of such sale, by adyertieG:ment, not leas than once
<br />during each of said four weeks in a newspaper pubiiaherl or distributed in~the county in which said property
<br />, ie aituaied, all other notice being hereby waived by the mortgagor (and said mortgagee, or any person on
<br />behalf oi~aid 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, county, or city courthouse for the comty in which the
<br />property ie located. The mortgagee ie hereby authorized to ezecute for and on behalf of the mortgagor and to
<br />deliver to the purchaser at ouch Bale a sufficient conveyance of said property, which conveyance shall contain
<br />recitals m to the happening of the default upon which the execution of tht power of Bale herein granted
<br />aepende; and the said mortgagor hereby constitutes and appbinU the mortgagee or any agent or attorney of the
<br />mortgagee, the agent and ettntttey io foci of said mortgagor to make such recita4 and to execute said
<br />conveyance and hereby covenants and agrees that the recitals so made shall be effectual to bar all. egaity or
<br />right o[ eedemption, homestead, doweq and all other exemptions rsf the mortgagor, all of which are hereby
<br />expressly waived and conveyed to the mortgagee; or
<br />(tu) take any other appropriate action pursuant to state or Federa! 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 tenants holding over and shall forthwith deliver possession to the purchaser at such sale or be
<br />summarily dfeppgee~eOdK'~accordarice with the provisions of law applicable to tenants holding over. The power
<br />and agency here~y gtagtei);.are. coupled wiflh 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 proceeds of any sale of said property in aeeordaner. with the preceding paragraphs shall be applied first
<br />to pay the costa and expenses of said axle, the exprnsee tncurred by the mortgagee far the purpose of protecting or main-
<br />taining said property, and reasonable attorneys'fees;aecondly,to pay the indebtedneassecured hereby; and thirdly,
<br />to payany surplus or rxceas to the person or persona legally entitled thereto,
<br />5. In the went said property ie sold at a judicial foreclosure sale ar pursuant to the power of sale hercinalauve
<br />granted; and'tlie prcaeeda see not euffteient ro pay the total iadebtedneea secured by this instrument and evidenced by
<br />raid promissory Hate, the mortgagee will be entitled to n deficiency judgment for the amount of the deficiency witkorct
<br />regard to appraiaement.
<br />6. In the event the mortgagor fails to pay any Federal, slate, or local tax assessment, income tax or other tax Lien,
<br />charge, (ee, or other expense chargtd against the property, the mortgagee is hereby authorized at hie option to pay
<br />the same. Any soma so paid by 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 same terms and conditions. II the mortgagor shall pay and
<br />discharge the indebtedness evidenced by said promissory note, and shall pay such auras and shall discharge all taxes
<br />and Iiena and the cosU, fees, and expenses of making, enforcing, anal executing this mortgage, then this mortgage
<br />shall be canceled and surrendered,
<br />7, The covenants herein contained shall bind and the benefitaand advantages shall iqure to the respective euo•
<br />cewots and assigns of the parties hereto. Whenever used, the singular number shall include the plural, the plural the
<br />singular. and the use of any gander shall include aU gender.
<br />$. Ito waiver of any tovenani herein or oC the obligation secured hereby shall at say time thereafter be held
<br />to bo s waiver of [he teems hereof or of the note secured hereby.
<br />4. In complunce with section 101.1 {d} of the Ruis and Regulations o[ the Small Business Administration f,13
<br />C,F.R 101.1(d) ), this itatrumeat is to be construed and enforced in accordmce with applicable Federal law.
<br />If). A judicial decree, order, or judgment holding any provision or portion of this instrument invalid or um
<br />thin instrulment 11 nor m any way impair or preclude the en(orcenrent of the remaining provisions or portions of
<br />fraA r•„s ViT le-it) .v, ~ .
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