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<br />3. The morlgagor souenanta sad agrees that if he ahxll fail to pay acid indebtedness or any part thereof when
<br />dtce, ar shall fait 4o perform any covenant or agreement of this instrument or the promissory note accused hereby, the
<br />entire indebtedness hereby secured shall immediately become due, payable, and collectible without notice, at the
<br />option of the mortgagee or. assigns, regardless of maturity, and the mortgagee or his assigns may before or after entry
<br />Bell said property without appraisement (the mortgagor having waived and assigned m fire mortgagee ail rights of
<br />appraiaement)
<br />(t) at judicial sale pursuant to Ehe provisions of 28 L`.S.C.. 2001 i a j ; or
<br />(tt} at the option of the mortgagee, either by auction or by eolicitatioa of sealed bide,:for the highest and
<br />beet bid complying with the terms of sale and maxtner of payment specified in the published notice of sale, first
<br />giving four weeks' notice of the time, terms, and place of such sale, by advertisement not $eaa than ono
<br />during each of said four weeks in a newspaper published or distributed is the county in which said property
<br />ie situated, all other notice being hereby waived by the mortgagor (sad said mortgagee, or say person oa
<br />behalf of said mortgagee, may bid with the unpaid iadebtednras evidenced bg said note). Said sate shall be
<br />held at oe on the property to be sold or at the Federal, county, or city eourthotase for the scanty in which the
<br />property is located. The mortgagee is hereby authorized to execuee for and an behalf of the mortgagor sad to
<br />deliver to the pvrchasee at such sale a sufficient conveyance of said property, which sonveyance shall rnntaia
<br />recitals as to the happening of the default upon which the execution of the power of esk berets granted
<br />dep- ~~i °d t.~e said t::..~tgega- hxr-by .,.,..a..a..s~ and apF,:-,Fats ibZ uavigag~ yr airy agsnt --...,..-,i : tb-
<br />mor[gagee, the agent and attorney in finet of said mortgagor to make such recitals and to'execote said
<br />conveyance and hereby cavettaata and agrees that tine recitals so made shall 6e egectual tta bas all etfnity or
<br />right of aedemption, homestead, dower, and all other exemptions of rite mortgagor, all of whith see }teroby
<br />eapreesly waived sad roaveyed to rite nortgagee; or
<br />ft[t} take am other appropriate action pt:reuant to state or Federa$ statute either in state or Federal
<br />court or athemiae for the diapoaition of the property.
<br />In the event of a sale ae hereinabove provided, [he mortgagor or any person in poaeesaion unde€ the mortgagor ahatl
<br />then become and be tenants holding over and shall forthwith deliver posacsaion to the purchaser at such sale or be
<br />summarily dispossessed, in accardanee with the provisions of law applicable, to tenants holding over The power
<br />and agency hereby gssnted are coupled with an interest and are in~euocabie by death or otherwise, and are granted
<br />ae ettmulative to the remedies for collection of said indebtedness provided by taw.
<br />4. The proceeds of say sale of said property is accordance with the preceding parsgzsphs ehsil be applied Pitta
<br />to pay Lhe cosu sad expenaen of said sale, the ecperiaes interred 6y the tnvrtgagee for the purpoze of protetting yr mairt-
<br />taining said property, and reasonable attorneys' fees; secondly, to pay the irnlebiednesn secured }treby; and thirdly.
<br />to pay any sttrplns or stress to the hereon or persons legally entitled thereto.
<br />5. la the evert[ said property is so$d aY a judisia7 foreclosure sa}e oe purausnt to the power of oats hereinabove
<br />gra€tted, and ttte psosxcda are nut sallieient to pay the to€sl indebtrtiness sa~sured by this instrument and evidettsed by
<br />said prsntisatity note, the mortgageo will tae entitled to n deftticnty judgment for tits amount of ttte deftcieney witltoat
<br />regard to sppraicement.
<br />6. In the event the mortgagor fails to pay any Federal, state, or local tax assesemeu4 income tax or other tax lien,
<br />charge, fee, or other expense charged against the property. the mortgagee is hereby authorized at his option w pay
<br />the same. Any sums so paid by the mortgagee shall be added to and become a part of the principal amount of the
<br />indebtedness evidented by said note, subject to tl:e same terms and conditions. ff the mortgagor shall pay and
<br />diseltarge she indebtedness evidenced by said promissory note, and slYnall pay such sums and shall discharge elf taxes
<br />and 1aena and the costa, fees,. and expeaeee of makint.„ enforcing, antl executing this mortgage, t}ears this mortgage
<br />shell ne eattceled and auarentiered.
<br />7. The covenants herein contained ahail hind and the benefits aatd advantages shall inure to the reapeetive euo-
<br />eeasgtra end as~igna of the parties hereto. Witcaever used, the sitagular number shall include the plural, the plural the
<br />aisgttlar, and the use of anp gender shallinclade aU genders.
<br />8. i@o waiver of any covenant herein or of the obiieatinn secured hereby shall at any time t}tereafter be held
<br />m Ica a waiver cf the terms tler~sf oe of the note secured hereby.
<br />Sf. In cotupliaase with sestina IOi.1(d } of the Rules and Regtilatialns of rite Small Business Adminiatntioa (13
<br />f:.F.R. 101.1(dI ], [hie instivmeat ie to be construed and enforced in accordance with applicable Federal law.
<br />li}. Pi judicial decree, order, or judgmoat balding any provision or portion of this instntment invalid or un-
<br />enforceable shall not in any wey impair or prcelude the enforcement of the remaining provlanona ar portions of
<br />this iasaietn~at.
<br />sa. r~ car t,...
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