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<br />3. The mortgagor covenants and agrees that if he shall fail to par said iade:dedness or any part tberea when
<br />due, or shall fail to perform any covenant or agreement of this instrument or the promissory note secured hereby, 41te
<br />entire indebtedness hereby sccared shall imrxdiately became due, payable. and collectible without notice, at the
<br />option of the mortgagee or assigns, regardless of maturity, and the mortgagee o: his assigns may before or after entry
<br />sell said property without appraixment {the mortgagor having waived and assigned io the mortgagee all rights of
<br />appcairemcnt }
<br />! [) at iudicial sak pursuant to the provisions of 28 U.S.C._21102 (a 1; or
<br />(ttJ at the option of the mortgagee, either by attetion or by solieitatioa of eeakd bide,~Gsr the highest and
<br />best bid complying with the terms of Bale and manner of payment specified is the pttbliahed notice of sak, first
<br />giving four weeks' notice of the time, terms, and place of such sale, by advertisement not lees than oatz
<br />during each of said four weeks in a newspaper published ar dieiribated is the courtly in which said property
<br />is situated, all other notice being hereby waived by the mortgagor (and acid mortgagee, or any person on
<br />behalf of said mortgagee, map bid with the unpaid utdebtedaem evidenced by said mote). Said nk shall be
<br />' .held aL or on the property to be Bold or at the Federal, county, ar city eourthouee for the rntmty in wbith the
<br />propertp is located. The mortgagee is hereby authorized to execute for and oa behalf of the mortgagor and to
<br />deliver to the purchaser at ouch sale a eufScicnt convzyance of said property, which conveyance ahaH cosaain
<br />aeeitah ~ to the happening of the default tipon which the ezecution of the power of sak hereie granted
<br />depends; and 6he acid mortgagor hereby coastitutee and appbiata the mortgagee or any agent ar attorney of the
<br />mortgagee, the agent and attorney in fact of raid mortgagor to make such rteitale and to eurnte acid
<br />eonveyaaae and hereby covenant- and agrees that the recitals xo made shall be effecenal to bar all equity or
<br />right of redemption, homestead, dower, and all other exemptiorte of the mortgagor, all of which are hereby
<br />expressly waived and e;onveyed to the mortgagee; or
<br />(rat) take any other appropriate action pursuant to state ar Federal statute either is state or Federal
<br />eriiirt or otherwise for the disposition of the property.
<br />In the event of a sale u hereinabove provided, the mortgagor or any person in poeseresion under the mortgagor shalt
<br />then become and be tenants holding aver and shall Corthwith deliver poasesaion to the purchaser at such sak or be
<br />summarily dispossessed, in accordance with the provisions of law applicable to tevanta holding over. The power
<br />and ageaey hereby granted are coupled with an interest and are irrevocable by death or otherwise, and are granted
<br />ae cumulative to the remedies for caflection of said indebtedness provided by law.
<br />4, The proceeds of soy sale of said property in accordance with the preceding paragraphs ehalf be applied first
<br />to pay the ants sad a=peasee of said ea14 the ezpevsea incur. ed by the mortgagee for the purpose of protesting or mstm
<br />raining said property, and reaaonabk attorneys' fees; secondly, fa pay the indebtedness secured hereby; and thirdly,
<br />to pay say surplus or excess to the person or persons legnlly entitled thereto.
<br />5. la the event said pmpxt ry is atild at a judieisl foreclosure axle ar pursuant to the paver of aiak Iteeeinabave
<br />granted; and the jiroceede ate not sedfieie~tt is pay the rata! iadebtedetestt secured by this itsstrumestt nod evidenced by
<br />esid proatieeary Hate, the mortgagee will be entitled to a delicieacy judgment for the amount of the deficiency witkoat
<br />regvd to sppraiaergatt.
<br />6. Ia the event the mortgagor (silo to pay any Federal, state, or local tax aeseasntent, income tax or other tax lien,
<br />charge, fee, or other expense charged against the property, She mortgagee is hereby authorized at his option to pay
<br />the same. Any soma co paid by the mortgagee shall be added to and become a part of the privcipei amount of the
<br />iadebtedneea evidenced by said note, subject to the same terms and conditions. II the mortgagor shall pay and
<br />discharge the indebtedness evidenced by said promissory note, and shell pay such sums and shall diaeharge all taxes
<br />sad Ifeae and the costa, fees, and expenses of making, enforcing, and executing this mortgage, then this mortgage
<br />alto!! he eanerled and seirreadered.
<br />7, The covenants herein eaatained shall bind and the Lenefita and advantages shall inure to rho respective auc=
<br />u[ssors and assigns of the parties hereto. Whenever [teed, the singular number shall include the plural, the pltesal the
<br />s{nn~nlat, and the tae of say gender shall include aU genders.
<br />!): Alo waiver of any aovenaat herein ar ai the obligation aeeured=het'eby shall at any time thereafiar be held
<br />to be a waiver of the terms hereof or of the note secured hereby.
<br />9. In compliance with section 141.1(d) of the Rules sad Regulations of the Small Bttsiness Adminietratioa [13
<br />CF,It. 101.1(d)], this instrument is to be construed and enforced in accordance with applicable Federal law.
<br />to
<br />.'. wtdieial .: ©;rx, orosr, or judgment bolding any provision ar portion of this inetrontent invalid or uu-
<br />enforeeabk shall not in any way impair or preelvde the enforcement of the remaining provisions or portions of
<br />tlpp iaurumsot.
<br />ass. -.~ vsz is-zst
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