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i <br />` 3. The mortgagor eovenanu and agrees that if he shill fail to pay said iadebtedtteae or any part thereof ariuw_--, <br />dtt~ or .halt fail to perform any covenant or agreement ct this irutrament or the promissory note aecared hereby, tbe= <br />etllttte indebtedness hereby secured shall immediately beomne dac, payable, sad colleetibk without notice, at t#se~. <br />orb o(the mortgagee or assigns, regardless of maturity, and-the mortgagee or his assign may-before or a#tu mtry~ <br />atilt-saw property without appraiaemertt (the mortgagor having waived and assigned to the mortgagee ill righb a~. <br />anent i : _ .. _ _... <br />_ (t i at judieiat sale pursuant to the provisions of 2g U.S.f,. 2[1011 a) : or - <br />{ n) et the option of the mortgageq either by auction or by solicitation of aeakd bida,'far the -ae <br />besC bid t~ttplying with the terms of sale and manger of payment speeitied in the preb$ahed mtim of'iak, fwst"` <br />giving four weeks' notice of the time, terms, and place of ouch sale, by advertisement net lean than Dace <br />during each of said four weeks in a newspaper published or distributed in tfu.rnunty in which aid.-jaroperty <br />is aiwated, all other notice being hereby waived by the mortgagor (sad acid mortgagee, or aey penes as <br />behalf of said mortgagee, may bid with the unpaid indebtedness evidertoed by acid mate). Said sale shall be <br />held ai or on the property to be Bold or at the Federal, county, or city courthouse for the couary in which the <br />property is located. The mortgagee u hereby authorised to a:etvte for and on behaH of the mortgagor sad to <br />deliver to the purchaser at such Bale a euf&ient conveyance of said property, which conveyance shall contain <br />recitab as to the happening of the default open which the ezeention of the power of oak herein granted <br />depends; and the said mortgagor hereby constitutes and appninu the mortgagee or any agent or attorney of the <br />mortgagee, the agent and a.torney in tact of said mortgagor to make sash reeitak sad to etteeute said <br />conveyance and hereby mveaanu and agrees that the recitals so made chill be eHeetnal to bar alt 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 />(reel take any other appropriate action pursuant to state or Federal statute either in state or Federal <br />eaort or otherwise for the disposition of the property. <br />In the event of a sale as hercinabove provided, the mortgagor or any person in poeeeseion under the mortgagor shall <br />then become and br Manta holding over and shall forthwith deliver poeaeasien to the purchaser at such sale or be <br />mmmarily dnspoeeesaed, in accordance with the provisions of law applicable to tenants hording over. The power <br />and agency hereby granted are coupled with an interest and are irrevocable by death or otherwise, and are granted <br />at cumulative to the remedies for collection of said indebtedness provided by law. <br />4. The proceeds of any ule of acid property in scoordance with the preceding paragrapbe shall be applied &m <br />~ pap the costa and expestaea of acid Bile, the ezpeneen iucnrred by the mortgagee for the parpoae of protecting or mats <br />€aining mid grotty, and reasottable.attarneys' fen; secondly, to pay the indebtedtarte secured hereby; and thirdly, <br />to pay any surplus or excess to the pertain or persona legally entitled thereto. <br />5. Is the event said property is geld at a jadicial farecloaurc sak or pursaaat to the power of ask hereiaabave <br />greeted, and the procceda arc not su$cient to pay the total indebtedncae secured by this instrument and evidenosd_ l,* <br />acid promieaezy sore, the mortgagee will be entitled to a deficiency judgment for the amount of the deficiency witftnrt <br />rcgatraf to apprrisemena. <br />6. In the event the mortgagor fails to pay any Federal, stale, or local tax aseeaement, income tax or other to Iles, <br />charge, fee, or other expense charged agaimt the property, the mortgagee ie hereby authorised at his option W pay <br />the same. Any soma eo paid by the mortgagee shall be added to and become a part of the principal amount o[ the <br />indebtedness evidenced by said note, subject to the same terms and conditions. If the mortgagor shall pay and <br />dicharge the indebtedness evidenced by said promissory note, and shall pay such sums and shall discharge all ruse <br />and-liens and the costa, fees, and experura of mskiag, euforciag, and executing this mortgage, then this mortgage <br />ehefl"ltgcattcekd and anrrendered. <br />7. The coveasaa heroin contained shall bind and the benefits and advantage aha}} inure to the respective sac- <br />eeaaoaa std assigns of the parties hereto. Whenever rued. the aiagular number shad include the plural, the plural the <br />sir~slar, sad the ewe of say gender shall include alt genders. <br />>R No waiver of any covenant herein or of the oblfgatioo eeenred hereby shall at any time thereafter 6e held <br />!o be s waiver of the terms hereof or oC the note secured hereby. <br />9. I9, oaaspliance with saetioo IOL I { d } of the Roby and Regalatiow of the Small Btuioew Admioiwralion [73 <br />C.F.R lOl.lid} ], this ieatrteseet fa to he osnitraed sad eafetced ie aceordaatx with applicable Federal law. <br />1~ A jud'reisl decree, order, or judgment holding any provision or portico of thin intrument invafSd or ma. <br />vianrisi~aaae wan sot f• any way impair or preelnde the enforcement of the rcmainireg provisions or portions of <br />this iwM±umetlt. <br />gas r.,,a wr ek.n) 4 ,. ,. . <br />