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<br />- 3. The mortgagor covenants and agrees that if he shall fail to pay said indebtedness or any part thereof when
<br />doe, or shall fail [o perform any rnvenant or agreement of this instrument or the promissory Hart secured hereby, the
<br />pion indebtedness hereby secured shall immediately bemroe due, payable; and collertibfe without notice, at the
<br />spoon of the mortgagee or assigns, regardless of maturity, and-the mortgagee or his assigns may before or after entry
<br />etdl acid property without appraisement ([he mortgagor havivg waived and assigned to the mortgagee aB rights of
<br />appraisement)• -_
<br />1 t 1 at judicial sale pursuant to the provisions of 28 U.S.C. 20011 a) : or
<br />(tt) at the option of the mortgagee, either by auction or by solicitation of sealed bids, for the highest and
<br />)reel bid romplying with the terms o! sale and manner of payment specified is the published notice of sale, fist
<br />giving four weeks' notice of the time, terms, and place of such safe; by advertisemem not less than once
<br />during each of said four weeks in a newspaper published or distributed in the.eounty in which said property
<br />ie situated, all other notice being hereby waived by the mortgagor (and said mortgagee, or any person ~
<br />behalf of acid mortgagee, may bid with the unpaid indebtedness eridenced by said note). Said Bale shall be
<br />held at or on the property to be sold or at the Federal, rnunty, or city courthouse for the county in whfeh the
<br />property is located. The mortgagee ie hereby authorixd to ezewte for and on behalf of the mortgagor and to
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<br />deliver to tke pnrFhn6gS at;euofi e'aie a eufbaisnt conveyance of sefd property, which conveyance shall cesrtain
<br />recitals ae to'the.happeviug of the default upon which the ezecudon of the power of-eak herein granted
<br />depeada; add the saCd mortgagor.berebytronetitatesand appbinu the mortgages or any agent or attorney of the
<br />mortgagee, _-the agent and attorney- in tap ai said mortgagor to make arch reciula and to execute said
<br />conveyance _and hereby covenants and agrees that• the recitals eo made shall lx e8ectaal to bar all equity or
<br />right of redemption, homestead, dower, and- all other exemptions of the mortgagor, all of which ors hereby
<br />expressly waived and conveged to the mortgagee; or
<br />(ut) take any other appropriate action pursuant to state or Federal statute either in state or Federal
<br />court or otherwix for the disposition of the property.
<br />In the event of a sate es hereinebove provided, the mortgagor or any person in poeeeseion under the mortgagor shall
<br />then become and be tenenta holding over and shall forthwith deliver possession to the purchaser at such sale or be
<br />summarily diapoasesaed, in accordance with the provisions of law applicable to tenants holding over. The power
<br />..~aad-agesop,lseaeby.psuited-era coupled with an interest and are irrevocable by death or otherwise, and are granted
<br />ast~umuletivor to tberemedies`for caRection of said indebtedness provided by law.
<br />- 4. The proceeds of any Bale of said property w accordance with the preceding paragraphs shall 6e applied fiat
<br />to pay the costs and expenses of said'sale, the expenses incurred by the mortgagee for the purpose oEprotecting ormain-
<br />taining,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 legally entitled thereto.
<br />5. fn the event said proptrty is sold at a judicial foreclosure sale or pursuant to the power of sale hereinabove
<br />granted, and the proceeds are not sufficient to pay 4he total indebtedness secured by this imirument and evidenced by
<br />said promissory note, the mortgagee will be entitled to a deficiency judgment for the amount of the defciency without
<br />regard to appnfsement.
<br />6. In the event the mortgagor fails to pay awy Federal, state, or local tax aseesamenq income tax or other tax lien,
<br />charge, fee, or other expense charged against the property, the mortgagee ie hereby authorised at his option to pay
<br />the same. Any soma so paid by the mortgagee shall be added to and become a part o[ the principal amount o[ the
<br />ittdebtedneea evidenced by said note, subject to the same terms and conditions. If 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 tl:e costa, tees, and expenses of making, enforcing, and executing this mortgage, then this mortgage
<br />shall be canceled and surrendered.
<br />T. The covenants herein contained shall bind and the benefits and advantages shall inure to the respective we-
<br />t>Diaon and twigna of the partid hereto. Whenever used, the singular number shall include the plural, tfre plural the
<br />aiogular, sad the use of any gender shall include all genders.
<br />& No waiver of any covenant herein or of the obligation secured hereby shall at say time thereafter be held
<br />to be a waiver of the terms hereof or oC thn note secured hereby.
<br />9. In compliance with section 301.1(d) of the Rules sad Regulations of the Small Businew Administration [13
<br />C.F.R 101.1(d) ], this instrument is to 6e construed and enforced is accordance with applicable Federal law.
<br />10. A judicial decree, order, or judguent holding any proviaios or portion of this instrument invalid or uo-
<br />enforoeable shall no! in any way impair or preclude the enforcement of the remaining proviaioru or portions of
<br />this imtrument.
<br />GvR u~a ,ip
<br />eaA F.,,, YSt la-tDl
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