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3. The mortgagor eavenanu and agroes that if be shall fail to par said indebtedner or any paR thereof rhea
<br />doe, u sttatl fall to pczform any covenant or agreement of this instrument or the promissory note assured hereby, the
<br />egtirt indebtedness hereby secured shalt immediately become dna p:yabl~ utd tolleciihle withoni noRiee, ai the
<br />option of the mortgagee or assigns, regardless of maturity, and the mortgagee or his assigns may before or after entry
<br />at111 said property without appraiaemmt (the mortgagor having waived and assigned to the mortgagee ail righu of
<br />aryteaiaemeat i
<br />1 t) at judicial sale pursuant io the provisions of 28 U.S.f_ 20d1(a) : or
<br />(n) at the option of the mortgagee, either bq suction or by aolieitation of sealed bide; for the 6ig}wt and
<br />heat bid eomplyiag with the terms of sale sad maaaer of payment apeafied in the published tenets of sa&, heat
<br />giving tour weeks' notice of the time, terms, and place of such aalq by advertiseratni. not less tbaa once
<br />during nch of said four weeks in a newspaper published or distributed in the cowrty in which said property
<br />is situated, all other aodce being hereby waived by the mortgagor (sad said mortgagee, or say person m
<br />behalf od said mortgagee, may bid with the tmpaid indebtedness evidmad by said note). Said salt shall be
<br />Geld a: or on the property to be sold or at the Federal, county, or cite conrthovae for the tw~ty is wbi~ the
<br />property is located. The mortgagee is hereby~avthorized to execute for and on behaU of the mortgagor and to
<br />deliver Ro the purchaser at such Bale a eu(ficient rnnveyaace of said property, which convcysaa chaff coarsen
<br />eaeitals o to the 6appenittg of the default upon which the ezecutioa of the power of sek herein gratrted
<br />depends; sad the said mortgagor hereby comtitutes and appbinu the mortgagee or anp agent or attorney of the
<br />mortgagee, the agent and ateoroey in fact of said mortgagor to make each recital sad to esesaie said
<br />eoaveyaaoe and hereby covmanu sad agrees that the recitals so made shall be elfeetnal to bar all equity or
<br />right of redemption, homestead, dower, and all other exemptions of the mortgagor, all of which are hereby
<br />expressly waived and conveyed to the mortgagee; or
<br />(w) take any other appropriate action pursuant to state or Federal statute either in state or Federal
<br />court or otherwise for the disposition of the property.
<br />In the event of a sale as hereinabove provided, the mortgagor ar any person in possession under the mortgagor shall
<br />then become and lse tenants holding over and shall Corthwith deliver possession to the purchaser at such sale or be
<br />summarily disoosaeased, 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 by death or otherwise, and are granted
<br />as cumulative to the remedies for collection of said indebtedness provided by law.
<br />4. The proceeds of any sale of acid property in accordance with the preceding paragraphs shall be applied first
<br />m pay the twau and ezpensea of said sale, the e:peasee incurred by the mortgagee for the purpose of protecting or maim
<br />raining said property, and reasonable attorneys' fees; secondly, to pay the indebtedness secured hereby; and thirdly,
<br />to pay any surplus or excess to the person or persons IegaIly entitled thereto.
<br />S. In the event said property is sold at a judicial foreclosure sale or pursuant to the Hower of sale heteisrabove
<br />granted, and the groceeda are not svHieient to pay the total indebtednex secured by thin instrument and evidenced by
<br />said promissory note, the mortgagee will be entitled to a deficiency judgment for the amount of the deficiency roit/tr~tei
<br />regard to appraiaement.
<br />b. In the event the mortgagor fails to pay any Federal, state, or local tax assessment, income tax or other tax Tien,
<br />charge, fee, or other expense charged xgainst the property, the mortgagee is hereby authorized at his option to pay
<br />the same. Any sums so paid by the mortgagee shall be added to and become a part of the priucipal amount of We
<br />indebtedness evidenced by said note, subject to the same [eons and conditions. I( the mortgagor shall pay and
<br />discharge the indebtedness evidenced by said promissory note, and shall pay such sums and shall discharge all taxes
<br />and liens and [he costa, fees, and expenses of making, enforcing, and executing this mortgage, then thin mortgage
<br />shall be canceled and surrendered.
<br />7. The covenanu herein contained shall bind and the benefits and advantages shall inure to the respective eua
<br />ceeeon and assigns of the parties hereto. SVhenever used, the singular number shall include the plural, Um plum the
<br />singular, and the use of any gender shall include all genders.
<br />8. No waiver of anv covenant herein or of;he obligation secured hereby shall at any tines thereafter be held
<br />to be a waiver of the terms hereof or of the note secured hereby.
<br />9. In compliance with section 101.1 (d) of the Rules and Regulations of the Small Rusi»ess Admiaietratioa (13
<br />C.F.R. 101.1(d) ], this instrument is to be construed and enforced in accordance with applicable Federal law.
<br />10. A judicial decree, order, or judgment holding any provision or portion of this instrmnent invalid or un-
<br />enforceable shall nut in any way impair or preclude the enforcement of the remaining provisions or portions of
<br />this instrument.
<br />saw co.o, vox ts-tst
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