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<br />3. The mortgagor covenants and agrees that if he shall fail to pay said indebtedness or anq part thereof when
<br />leis, or shelf fail to perform any covenant or agreement of this instrument or the promisgttry.nMCeecured hereby, the
<br />settles indebtedness hereby secured shall immediately lrtcomt due, g5syablr, and collectible without notice, at the
<br />aptan of the mortgagte or assigns, regardless of maturity, and the mortgatee or his assigns may fiefore or aftee entry
<br />ee1Y said property without appraieement (the mortgagor having waived aryl assigned ~o t}tp;mgrRgagee all righEa of '
<br />•pl-rafiement 1
<br />- 1 t 1 at judicial sale pursuant to the provisions of 28 U.S.C. 2001 (a) ; or -
<br />(tt) at the option of the mortgagte, either by auction or 6y eoticitation of sealed bi~a,~for the higbat snd
<br />beat bid complying with the terms of axle and manner of payment specified is the published notice of sale, first
<br />giving four weeks' notice of the time, terms, and place of such safe,=by advertietmeEit not less than ottee
<br />during tack of said foot weeks in a newspaper published or distributed in the wunty in which said property
<br />is situated, all other notice being hereby waived by the mortgagor (and said mortgagte.. or say pwsott on '_
<br />" behalf of aril mortgagee, may bid with the tmpaid indebtedness evidenced by said Hotel. Said sale shall be
<br />held at or on the property to be Bold or at the Federal, county, or city courthouse for the county in which the
<br />property m located. The mortgagee ie hereby authorized to execute for and on behalf of the mortgagor amd to
<br />deliver to the purchaser at such sale a sufficient conveyance of said property, which conveyance shall coatain
<br />.~e.>, ~ t.. the 1tepM~ting of the de-fault upon which the execution of the pewee wr salt pectin b.ani d
<br />depends; and the said mortgagor hereby constitutes and appoints the mortgagee or any agent or attorney of the
<br />mortgagee, the agent sad attorney in fact of said: mortgagor to make such recitals-sad io extents said
<br />conveyance and hereby covenants and agrees that the recitals eo made shall be zffeetual to bar all equity or
<br />right a[ re11ta8tptiatq~-honmstead,,.,tlt?Wer, and all other exemptions of the mortgagor, all of which ass hereby
<br />expressly avaived k4t~ ciirivt'~+ed"rti~t~Fde mortgagee; or
<br />feet-) Gake any oth'tr appropriate action pursuant to start or Federal statute either is state or Federal
<br />court or otherwise for the dispmsition. of the property.
<br />In the even[ 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 :!sliver possession to the purchaser at such sale or be
<br />summarily dispossessed, in accordance with the proviaiona of law applicable to tenants holding over. The power
<br />and agency hereby granted are coupled with an interest and are irrevocable by death or otherwise, and are granted
<br />ae cumulative to the remedies for cailectian of said indebtedness provided by law.
<br />4. Tht ptviceeda of sap eels of said property in ateordanae with the prtteding paragraphs else![ be applied first
<br />to pay the costs and expeaaea bf said' sale, the expenses iaeurrod by the mortgagee foe the pnrposa of protecting or mains
<br />raining said' property,-and roaetmafilt attararys' flea; secondly: Ao pay the indebtedness secured hereby; amd thirdly,
<br />to paw any surplus or excess to the peraoti ar psrauns -tttally tatitittl tlXgrtiq.
<br />5. lm the evemt said property is sold a€ s jttati'ial"foreelasurt sale ur pennant to the power of salt heroimabove
<br />granted, and-the pi~eteda set cwt suffcicnt to pay-the tatiti indebtedness secured by this Inetrumeat and evidenced by
<br />said promissory trots, the mortgagee wi0 be entitled to • deficiency judgttteM for the amount of the deficiency toithottr
<br />regard to oppnisement.
<br />6. In the Brent the mortgagor fails to-pay anyFederal, state, or iota! tax asaesement, income tax or other tax lien,
<br />charge, fee, or other expense charged against the prroperty, the mortgagee ie hereby authorised at his option to pay
<br />the earns. Any sums ao paid by the mortgagee shall be added to and became a part at the principal amount of the
<br />indebttilneas evidenced by said Hutt, aubjeet to the same terms and conditions. If the mortgagor shell pay and
<br />discharge the indebtedness evidenced by said promissory note, and shall pay such sums and shall discharge alt taxes
<br />and fieq and the casts, fete, and expenses of making, enforcing, and executing this mortgage, then this mortgage
<br />shAft fpc'tnnteled and sttrrendtred.
<br />T, Tlet euvtgants heroin contaitted shall bind sad the benefits and advam4ptes shall inure to the respective secs
<br />oeawra aped aersgtta of rite partin hereto whenever used, the aingutar number ebal! inelnde the plural, the plural the
<br />sin~lar, sad the sae d any gereder shall include all gender.
<br />fl. fie waiver of any covenant heroin or of the obligation secured hereby shat! at any time thereafter be held
<br />b be a 'waiver of the Eerms hereof or of the note secured hereby,
<br />4. in complianet with section 10L1 Sd} of the If>_•ks and Regulations :>f the Small Bu:iaew Administration (I3
<br />f~T, _It- t4t_t-/Ait_ EE,s. :.....e.~_~ __._'__ ___~_ .. _ _ _ _ _ _ _ _ _
<br />-- ---' ~-•„ ^°- _ ~+:o ue aattaovem ana entoroem to accordance with applicable Federal law.
<br />10, A jndiclal decree, grdtr, or judgment holding any prevision or portion of this instrument invalid or ua-
<br />enferceatglle deaf! not id any way Impair uc preetude the enforcement of the remaining proviaiona or portions of
<br />this instrutssent,
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