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81.~~c~ t~ :~ 5 ~3
<br />"- 3. 'fhe aroregspCttr coveaanta and aRreea that if hr ahalUl:il to pat' acid iadehKedaas or any part.theteof when
<br />idttr..or shall fail Eo perform any covenant or agreement of tills inatrtttreeat or the promissory note secured hercbp,;he
<br />„paptie~ indehtedaeas hereby assured aitati imtaediatety bac~ne dse, ppysts~e, and rollectiblc without antics, at the
<br />q`_ptisn m` tfie mortraree7tr assignor regardless o€ matnritg' ~ the mortltagee or hie aroigna may b~foraor.gfter parry
<br />p=er-rty mitlio,~+± a;.p_~~tit 4th t~rtgaMr tt~ring waivod ~d a.~iQtted to tip m..rtQ~asa nit ridli~a of
<br />eate.tt): -- -
<br />- (t } at jndiciipl sale pnrasant to the provieiana of2$ G.S.C. 2061 t a) : or _
<br />(tr) ai the optima of the mortgagee, either blr anetios or by solieitatiou of sealed btda, fmt dte highest sad '
<br />bait bid eaarply~g whh the;stns o! s~k sad masaet of payment apeciiod-let tiro ~ttatfasof ask, freer
<br />weeks' notice- of the tiara, tertaor sad plax of each sale. by advertisetnart nei-leas rhea once
<br />darLtg each of said four weeks in a newspaper published oe distributed is the cotmty in which said property
<br />i. aitastod. all other entice being hereby waived by rite taoregagor feed said mortgagee, or say peson m
<br />b~:l[ o! acid ttroergagea, tray feis! watt rite unpaid indrbtedness eridence~ by said ate}. Said sale aball be
<br />hem pt at as xlte ptopem to he solrt or rt the Ftxlenb county, ar city ooarthanse far the twesaty to ahieh the
<br />propsetys keaxed. The mortgagee is bere~ty aatharis~ to ettecnte free and on leehalf of the mortgagor and to
<br />deify to the, purchaser at each uk a stti$tiant toaveysace of said Property, which conveyance shall contain
<br />• ~ the bfppaaiag of the default epos whi~a the e:ecntion of the power of sate herein granted
<br />depends; earl the said mortgagor hereby coaaitutes attd appoints the mortgagee or ray agestor attorney of the
<br />the amt and attaeaey in fact of said mortgagor to make etnch reeitala and to caseate said
<br />aaat-ayaame sad hereby eov~enb sad agrees that the recftnb a made shall be eflectwl to bar alt egsity or
<br />right of een, ltstaestead, dower. attd all outer exemptions o! the mortgagor, alt of which are hereby
<br />e=prenty waltzed amt rwnseytd to the mortgagee; or
<br />- (!t!~ take aa4 ottirs 8pp:tfpriatQ-' Y!t5on pnr9'Jattf t0 atDSE or pCd8Ta1 StititlL" ett1223 is atatd" 04 .~adBSLt
<br />court ac otfterwiae fur the diapcaiiioA ~ the property.
<br />1; •.~ x+ent o!' a orate a Itereinabove protzded, the mortgagor or any persmt is poaseasfon under the mortgagor shall
<br />then becoaro and Iw tesaats holding over and shall forthwith deliver poasceaion to the purchaser at arch a^k or he
<br />a:.trtatat-llg dthpowisaed; i& secordamx with ±be proviair~ of law applfcsble to t!^ttants holding oror. Tlro power
<br />sad agency hereby ltraated are coupled with an interest and art irrevocable by death or otherwise, end are greeted
<br />as cumulative [o the aeatedies for ezelketion of aafd indebtedness provided by law.
<br />4. The ptyatledf ~ yqr aa7e a[,t!aid property is accardanee w~~• the. preaediag paaagtrlrbe shat! he applied. 6aet
<br />to pay ~ aosU as ak~dest«; orbs expenses incurred bq the mortgagee far the purpose of protecting ar taais-
<br />taiaitttc said property, and reaswtabk attorneys' free: areondly, W pay the iadebtedneas aecnred hereby: and thirdly,
<br />to pay any ane:ptue or excess to :he person or pereans legally entitled thereto.
<br />S, In ebe e-e~ said property b sold at • jtrdisiai foreclowre sate or pttrenant to the potent of orals .hareiaa~e.
<br />granted, sad the proceeds era not wiYieieat to pay the total iadebtadrsess assured by thin i and evidenced by
<br />said pro®iasory ~ the esoregagoe will be eatitkd to a de&eieacy )meat fb: the amen>n ~ the def ti~tcy toetl~ont
<br />repnd to wppeaiaerrtnst.
<br />6. la the event the moettagor fails to pay any F'edrral, ,:fate., or local tax asseaament, income tax or ether tax lien,
<br />charge, ire, ar ether expense charged against the property, the mortgagee ie hereby authorised at hie option to pay
<br />the saaae. !lay eraser Aa-paid by the mortgagee ahail be added to and become a pan of the principal amonat of the
<br />itulrbtedttess r>vldeattd by said Holt, subject to the xwttte terms and conditions. If the mortgagor shall pay and
<br />discharge the iadebledtae~ evidenced by said protttiwsrry note, and shall pay such sums and shall discharge all terse
<br />attd Rees mf~etre eor4e, fees, sad eapettels of asatfisR, enforcing, and executing this mortgage, then this mortgage
<br />shall be eanoelod and aurrenrfered,
<br />7. The eovmtaaG herein coatsfaed. atuil >asd sad cite beae&ta sad advaataRas shall inure to the tr~aatire sao•
<br />oewaas sad asaigtss a! des patties Itas~. i6'hasever trod, the ainguUr nnasber ahali iaeln~ tiro phtral. the plaral the
<br />aftt~sr. sad errs arof nay shall iachsde all dsadere
<br />!L Pfo waivar ~ nay eeveaabt herefa or o! the obligation aecared hereby chart at nay time thereafter be held
<br />t0 be A wairer o! the tCtIDa hetvtaE ar ~ the ante eacttrefl,hereby.
<br />to emmpt'isnta wftb seotioa i01.14d) of the Rules and Regniatioas o[ the Sault Bnaiaesa Admisistrati~ [IS
<br />t~>=1~'h#1 ~~wtltlit ii to tat t+drrtrtted sad ealotesd is acrnrdanoa with applirabla Ft~d~esal law.
<br />Imo' A ~ti decree, wader, or jndga~rt holding nay provfalae ar portion of this ira;tirarmtet invalid ar rta•
<br />shat. awe is ray' way frwpzir or praehadC the eaforoesroat of the remafuiag peorisioaa ne porliant of
<br />deice ice, ;,:. .
<br />+6[i r~ f117 iixtfl
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