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<br />3. The mortgagor covenants and egrets that if he shall fail to pay said indebtedneee or aay part thereof when
<br />drat, or shall fail to parlorm any covenant or agreement of this instrument or the promissory note secured hereby, the
<br />estiro indebtedneaa hereby secured shall immediattly become dot, payable, and collectible without notice, at the
<br />optics of the mortgagee or assigns, regardless of maturity, and the mortgagee or his assigns map before or after entry
<br />sett wid property without appraiaement {the mortgagor-having waived and assigned to the mortgagee all rights of
<br />appraisement)
<br />itl at judicial sale pureaant to the provisions of 28 U.S.Ci.20011a); or
<br />(n) at the option at tltt mortgagee, eithee by auction or by solicitation of sealed bids; for the highest acrd
<br />bat hid emnplying with xhe [arms of enle and maaaer of payment specified in t-te published notice of-sale, fist
<br />giving (our weeks' notice of the time, terms, and place of ench sale, by advertisement not lees than once
<br />during each of said four weeks in a newspaper pubfieherl or distributed in the wnnty in which said property
<br />u situated, a1T oilier notice being hereby waived by the mortgagor (and said-moetgagee, or any person on
<br />6eltatf of said mortgagee, may lad with the ttrtpaid indebtedness evidenced by said note). Said oak shall be
<br />' held at or on the property to be sold or at the Federal. county, or city rnurthouse for the county in which the
<br />property is located. The mortgagee is hemhy euthoriaed to execute for and on behalf of the mortgagor and to
<br />deliver to she purchaser at such sate a sufficient conveyance of said property, which conveysace shall contain
<br />recitals as to the happening of the default upon which the ezeeution of the power of sale herein granted
<br />depa<nds; and the said mortgagor hereby constitutes and appoints the mortgagee or any agent or attorney of the
<br />tnorigagte, i'ttt agent and attorney in fact of said mortgagor to make ench recitals and to ezeente said
<br />anweysace and hereby taavenants aad' agrees that [tie recitals ea made shall be effectna! to bar all equity ar
<br />right of redemption, homestead, dower; and. another exemptions of the mortgagor, all of which are hereby
<br />ezpremty waived and conveyed to the mortgagee; ar
<br />ten} take any outer appropriate action porenant to state or Federal statute rither in state or Federal
<br />aattrR ar otherwise forYhe disposition of 'the property.
<br />In.tlte event aF a sale as hercinabove pravidtd, thetnongagar or any pc~raon in possession ender the mortgagor shall
<br />thee became aad be tmaate holding over and shall forthwith deliver possession to the purchaser at ench salt or be
<br />summarily dieposaessed, in accordance with the provisions of law applicable to tenants holding over. The power
<br />sad agmty hereby granted are coupled with an interest and are irrevocable by death ar otherwise, and are granted
<br />as cumulative to the remedies for collection of acid indeMednesa provided by law.
<br />4. The proceeds of any sal ~ feedBT+i~aace with the preneding paragraphs shall be applied first
<br />to pay the taste sad caPen~ of slid sate,.Ihe expenses incurred by the mortgagee for the parpose of prot-ttiag or maim-
<br />xaining said property, and reaaonahle attorneys' fora; secondly, !a pay the indebtedness secured hereby; and thirdly,
<br />to pay any surplus or exetes to the person or persons legally entitled ihercto.
<br />~. In t~ ?v-rt~- said prsporty is said at a judf°,~al €orozlasure sale or parauaat to cite power o€ sale ltcrcinabove
<br />granted, stud tlro aroaeeds arc not su~cieat ro peg she tota6 itta..ehtedtuerr ~ettrad by ihie inattttment and trdrsec.~u' by
<br />sand promissory note, the mortgagee will be entitled to a deGcietvey judgamat for the amount of the dry :tarlat=1R[
<br />rte to aippraisem~mat.
<br />G. In the event Elie mortgagor facia to pay any Fedetal, state, or local tax assesemen[, income tax or ocher tax lien,
<br />charge, fee, or other expense charged against the property, the mortgagee is hereby authorized at his option to pay
<br />the saate. Aay sums so paid by the. mortgagee shall be added to and become a pan of the principal amount of she
<br />indebtedness eridenced by acid note, subject to the same terms rnd conditions, If the mortgagor shall pay and
<br />discharge the indebtednraa evidenced by said promissory rate, and shall pay such stuns and shall discharge al! taxes
<br />attd 1isaa and the costs, lets, and expenses of making, enforcing, and rxecuiing this mortgage, then this mortgage
<br />adroll Iss canceled and aurrendercd.
<br />7. The, caveaants heaein contained shall bind aced Ilia benefits sad advantages shah inure to the reapecxive attc-
<br />oarages awd asaigw of the pattia hereto. Whenever used, she siaguiar nuarbcr shall include the plural, the plurr! rho
<br />sipg+t~r, and [leas case of any gander shalt itwlaUde alt gendare.
<br />8 Na waiver of any c~v~rat herein ar or xhe oblig~iiatt secured hereby shall at say time thtreaftar be held
<br />to ba a waiver of the terms hareot ar of the aafa sacttred hereby.
<br />$. Ia aoaapliance with section 101.1 (d) of the Rules sad 1legulasioas of the Small ~usitaess Administration [ 18
<br />C.F.R. IOI.i(d) ). this inatrwnent is to be canprued and eaiorced in accordance with applicable Federal taw.
<br />Iq A ;tufxtal decree, ordet, ar judgment balding spy provision or portion of this itutrnment invalid or un-
<br />tgl'4rceablc shall not in.any way impair or preclude the enforeemont of the remaining provisions or portions of
<br />tbia:ites{rumeai.
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