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<br />3. The mortgagor covenants and agrees that if he ehafl fail to pay said indebtedness or any part thereof when
<br />due, oe abaft fail to perforne any covenant or agreement of this instrument or the promissory note secured hereby, the
<br />entire indebtedness hereby secured shall immediately became due, payable, and collectible without notice, at the
<br />option of the mortgagee or assigns, regardleae of maturity, and lift mortgagee or hie assigns ma} aefore or after entry
<br />Bell said property without appraiaement (the mortgagor having waived and assigned to the mortgagee all rights of
<br />appraisement)
<br />(t) at judicial ease pursuant to the proviaione of 28 U.S.C.:200I`{a); or -_
<br />{rt) at the option of the mortgagee, either by auction or by eolicitstian of sealed bida,`for the highest and
<br />bcaa hid complying with the terms of sale and manner of payment specified in the published notice of sale, first
<br />giving four weeks' notice of the time, terms, and place of such Bale, by advertieement not lees Shan once
<br />during each of said four weeks in a newspaper published or distributed in the county in which acid property
<br />is aitwted, a:l other notice being hereby waived by the mortgagor {snd said mortgagee, or say person oa
<br />behalf of acid mortgagee, tray bid with the aapaid indebtedness evidenxd by said Daze). Said sale shall be
<br />held at or oa the property to be Bald or at the Federal, county, or city rnurthottse for the comfy in which the
<br />property is located. The mortgagee is hereby authorized to execute for and on behaB of the mortgagor and to
<br />deliver to the purchaser at such sale a sufficient conveyance of said property, which conveyance shall contain
<br />recital u to the happening of the default upon which the execution of the power of sale herein granted
<br />depeoda; and the said mortgagor hor'~t y rnrwtitet~ and appoints th- motgeg-- ar ang agent ar attarnxy of the.
<br />mortgagee, the mgeat and attorney in fact of said mortgagor to make such reciuls and to execuu acid
<br />maveyanaa end hereby covensnis and agrees that the recitals so made shall be effectual to bar all equity or
<br />right of redemption„ homestead, dower, and al! other exemptions of the mortgagor, all of which are hereby
<br />expressly waived and rnnveyed to the mortgagee; or
<br />Qtt) lake any other appropriate action pursuant to state or Federal statute either in etau or Federal
<br />court or aiherwi.ee far the dispoeitioa of the property.
<br />Yn the event of a Bale as hpreinabove provided, the mortgagor or any person in poeaeesion under the mortgagor ahatl
<br />then itecome~aad: bert4nantsat~ding over and shall forthwith deliver posaeseion to the purchaser a[ such sale or be
<br />summarily d~poasesae'~sair'-accordance with the proviaione of law applicable to tenants holding over. The power
<br />and agency he3,eb,~=~Fante~•:$Le,cpupled. with en in[ereat and are irrevocable by death or otherwise, and are granted
<br />ae cumulative to the remedies for collection of said indebtedness provided by law.
<br />0. The proceeds of any sale of said property in accordance with the preceding paragraphs ehatl be applied first
<br />u pay the coats and ez_aenses of said ealc, the expettees incurred by the mortgagee Ior the purpose of protecting or tn.:.,.
<br />raining said property. and reasonable attorneys' fees; secondly, [o pay the indebudnesa scented hereby: and thirdly,
<br />W pay any surplus or excess to the person or persons legally cniitied thereto.
<br />5. In efts event said property u said at a ,judicial foreclosure sale ar pursuant to the power of sale hereinabove
<br />grated, and the peo~da are not sus eieat to pay the total indeb[cdneas eteured by this instrument mud evidenced by
<br />ms' _ ,.,i$~~~r}~igee will fie entitled to n deficiency judgment for the amount oI the dtf~±tncy taitltattr
<br />ro "aA~ _
<br />6. [n the event the mortgagor fails to pay any Federal, matt, or Iocal tax aaaeaament, income tax or other tax lien,
<br />charge, fee, or other expense charged against the property, the mortgagee is hereby amhoriad at his option to pay
<br />the same. Any soma ao paid by the mortgagee eha11 be added to and become a pare of the printipa! amount of the
<br />indebtedness evidenced by said note, aabject to the same terms and aonditiona. If the mortgagor shall pay and
<br />discharge the indebtedness evidenced by said promieaary note, and shall pay such aunts and shall discharge all is:ee
<br />and liana and the costa, free, and expetues of making, enforcing, and txrcuting this utortgage, than this mortgage
<br />ehailbe eancefed and surrendered.
<br />7. The covenan4 herein contained shall bind and the benefits anti advantages shall inure to the reapeclive sua-
<br />eeasora end assigns of the partly hereto. Whenever wed, the einguiar number shall iacludc the plural, the plural tlw
<br />aiggulu, and the use of my geodu shall include all genders.
<br />ii. -eels waiver of soy caveoaat herein or of the obligation secured hereby shall at any time thereafter lee held
<br />to be a waiver of rho terms hereof or of the note secured berebv.
<br />4. In eomplianec with seetioa 101.1(d) of the Rules and Regulations of the Small Business Administration [13
<br />C.F.R. lUl.l(d) ), ibis instrument is to be eotutrued and enforced in accordance with applicable Fedora! Uw.
<br />lU. A judicial deetrce, order, ar judgment holding any provision or portion of this instrument invalid or un-
<br />enfarceable shall not in any way impair or preclude the caforcement of the retttaining proviaione or portiana of
<br />ihG instrument.
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