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<br />3. The mortgagor eavenants and agrees that it be shall fail to pay said indebtedness or any part !hereof wheat
<br />dtet, or 9hali fail to perfatTrt any covenant or agreement of this instrument or the promissory [tote secured hereby, the
<br />esftire indebtedness hereby secured shall immedia[c]y become duexpahablei:~and coilectibde.without notice, at !$te
<br />option of the mortgagee or assigns, regardless of maturity, ated the mortgagee of his assgns !nay before or-after erii~-y
<br />sel9 said property without appraieement {the martgagor having waived and assigned to t6a ntottgagee all rig}[;a A{
<br />appraisement) : ~ ~ ~ s' i ,1 i - .. -
<br />- (t) at judicial sale pursuant to the provisions of 28 U.S.C. 2001(a);or
<br />{u) at the option of the mortgagee, either by auction or by solicitation of sealed $ids,'for theltighesi
<br />hest bid caanplying with the [stets of sale and manner of payment speeifitd in the ptib}iahed notico=of sale, Sfiit
<br />giving four weeks' notice of the time, terms, and place of such sale, bv.adver{ieemeiti not Ieeifithan once
<br />during each of said four weeks in a newspaper publisher! or dietribute~~in the cottntp in which eaiol pzaperey
<br />.is situated, all other notice being hereby waived by the mortgagor (and said mortgage; or any person on
<br />behalf of said mortgagee, may bid with the unpaid indebtedness evidenced by said note). Said sale shall be
<br />held at or oo the property to be sold or at the Federal, county, or city courthouse for the county in which the
<br />property ie located. The mortgagee is 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 shall rnntain
<br />re~cite4 as So the happening of the default upon which the execution of the power of sale herein granted
<br />de des, a~td [tie ..fA .~.o.r~.g... hereh ;-
<br />~ - y eo.pi:€uiw sad appai.-,LS t, ~ morgagee or any agent or aitarney of the
<br />mortgagee, the agent and attorney in fact of said mortgagor to make such recitals and to ezecute said
<br />eonveyanea and hereby eovetiaata and-agrees that the recitals so made shall be effectual to bar all equity or
<br />right oI iei;einprion, homestead, dowor, and "~11 athe.r exemptions of the mortgagor, aH of which are hereby
<br />expressly"vrai+ved and conrryed to the mortgagee; or
<br />{ttt) take any other approprfiata action [pursuant to state or Federal statute either in etate'or Federal
<br />court or
<br />" fliom of the broperty.
<br />In the event oT'ather+vlnanta holding ore
<br />°iial`e ae hereinabove rovidad, she mortgagor or any person in possession under the martgagor shall
<br />then become and 6e to rand shall forthwith deliver possession ro the purchaser at such sale or be
<br />summarily dispossessed, in accordance with the provisions of law applicable to tenants holding over. The power
<br />and agency hereby granted are coupled with an interest and are irrevocable 6y death or otherwise, aitd are granted
<br />as cumulative to the remedies for collection of said indebtedness provided by law.
<br />4. The proceeds of any sale of said ptnperty in aeeozelance with ifte preceding paragraphs shell be applied Drat
<br />to pay the costs and expenses of said sale, the expenses incurred by Etta r~.gagse for the purpose of protesting or main•
<br />[aining said property, and reasonable attorneys' fees; secondl`v, to pav die indebtedness secured hereby; and thirdly,
<br />to pay any surplus or excess to the person or persons legally entitled thereto.
<br />5. In the event raid property is sold at a judicial toreclosure sale or pursuant to the Dower of sale hercin_abovo
<br />granted, and ttt; p~~ds art not su®cient to paq the total indebtedness secured by this instrument and evidenced by
<br />said p:„~i".,tory nttta. the mortgagee will be entitled to n dcficieacy judgment for the amount of the dej+ciency without
<br />regard to oppraisament.
<br />6. In the event the mortgagor fails to pay any Federal, state, or local tax asaesamenl, income tax or other tax lien,
<br />charge, fee, or other expense charged against the property, the mortgagee is hereby authorised at his option to pay
<br />the same. Any soma tw paid by the mortgagee shall be added to and become a part of the principal amount of the
<br />indebtedness evidenced by said note, »ubject to dte same terms and conditions. If She nwrtgagor shall pay and
<br />discharge the indebtedness evidenced by said promissory nose, and shall pay such sums and shall discharge all taxes
<br />and liens and the amts, fees, and expenses of making, enforcing, and executing this mortgage, then this mortgage
<br />shall he canceled and surrendered.
<br />7, Tho covenants herein contained shall bind and the benefits and advantages shall inurr to the reapeetive euc-
<br />txxsetrs sod assigtu of the parties hereto, Whenever used, the singular number shall include the plum, the plum the
<br />°ingttlar• and eho etas of anY Bander shall includes all gender.
<br />it: iYa waiver of any covenant herein or of the obligation secured hereby shall at any €itne thereafter be held
<br />ta be a waiver of t1:e Larks hereof ar of rite note secured hereby.
<br />9, fneompllancewithse~tion101.1{d) of the Rules and Regulations of the Small Business Administration [13
<br />C.F.R. lOl.l (d) J, the instrument is to be eottatrued and enforced in sexordance with applicable Federal law.
<br />'1tS^ 1!.', judleial decree, ordtr, or judgment holding any provision oz portion of this instrument invalid or un-
<br />tafareraWe shall naa in any way impair or preclude the enforerment of the remaining provisions or portions of
<br />this instrument.
<br />rM -ar~ gar !e-te,
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