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<br />3. The mortgagor covenants and agrees that if be shall fail to pay card indebtedness or any part thereof when
<br />flue, or shalt fail to perform any covenant or agreemem of this instrument or the promissory note secured hereby; the
<br />entire indebtedness hereby secured shall immediately become due, payable, and collectible without Hotter, at the
<br />+aption of the mortgagee or assigns. regardless of maturity, and the mortgagee or his assigns may before or after entry
<br />es•Il said property without appraiaement (the mortgagor having waived and assigned to the mortgagee all rights of
<br />apt praisement)
<br />it) at judicial sale pursuant io the provisions of281'.S.C. ~(1n11,a1: or
<br />(u) at the option of the mortgagee, either by auction or by solicitation of sealed bids,Yor the higltdi atsd
<br />best bid complying with the terms of Bale and manner of payment specified in the published notice of nk. best
<br />giving four weeks' notice of the time, terms, and place of such sale, by advertisement not lees than once
<br />during each of said four weeks in a newspaper published or distributed in the county in which'aaid property
<br />v sitwted, all other notice being hereby waived by the mortgagor (and said mortga~te, or ~y person o0
<br />behalf of acid mortgagee, may bid with the unpaid indebtedness evidenced by said Hate). Said rak shall be
<br />held at or on the property to be sold or at the Federal, county, or city courthouse for the county in which the
<br />property is located. The mortgagee is hereby authorized to execute for and on behalf of the mortgagor and to
<br />deliver to the purchaser at such sale a sufficient conveyance of said aroperty, which conveyance shall contain
<br />recitals ae to the happening of the default upon which the execution of the power of Bale herein granted
<br />depends; and the said mortgagor hereby constitutes and appoints the mortgagee or any agent oe attorney of the
<br />mortgagee, the agent and attorney in fact of acid mortgagor to make such recitals and to ezecute rttid
<br />conveyance and hereby covenants and agrees that the recitals eo made shall be eSectual to bar all equity or
<br />right of redemption, homestead, dower, and all other exemptions of the mortgagoq all of which are hereby
<br />expressly waived and conveyed to the mortgagee; or
<br />i ntl take any other appropriate action pursuant to state nr Federal statute either in state or Federal
<br />court or otherwise for the disposition of the property.
<br />In the event of a sale ae hereinabove provided, the mortgagor or any person in possession under the mortgagor shall
<br />then become and be tenants hohling over and shall forthwith deliver possession to the purchaser at each sale of be
<br />summarily diapaeeessed, in accordance with the provisions o[ law applicable to tenants holding over. The power
<br />and agency hereby granted are coupled with an interest and are irrevocable 6v death or otherwise, and are granted
<br />as cumulative !o the remedies [or coi}ection of said indebtedness provided by law.
<br />4. The proeeede of any sale of said property in accordance with the precedang paragraphs shall be applied fiat
<br />to pay the costs and expenses of said Bale, the expenses incurred by the mortgagee for the purpose of protecting or main•
<br />raining said property, and reasonable attorneys' fees; secondly, tc pay the indebtedness secured hereby; and thirdly,
<br />to pay any surplus or excess eo the person nr persons legally entitled thereto.
<br />5. In the event said property ie sold at a judicial foreclosure sale or purouant to the power of sale hereinabove
<br />granted, and the proceeds are not suffcient to pay the total indebtedness secured by this instrument and evidenced by
<br />said promissory note, the mortgagee will be entitled to a deficiency judgment for the amount of the deficiency witfeout
<br />regard to appr2iaement.
<br />t!. In the event the mortgagor f~iis to pa a.-.y Federal, state, or Iocai tax asesament, income tax or other tax lien,
<br />charge, fee, or other expense charged against the property, the mortgagee is hereby authorized at his option to pay
<br />the same. Any sums eo paid by the mortgagee shall be added to and become a part of the principal amount of the
<br />indebtedness evidenced by said Hate, subject to the same terms and couditians. It the mortgagor shall pay and
<br />discharge the indebtedness evidenced 6y said promissory note, and shalt pap such sums and shall discharge all taxes
<br />and lietae and the costs, fees, and expenses of making, enforcing, and executing this mortgage. then this mortgage
<br />shall lee canceled and aurrendtred.
<br />7. The covenants herein contained shall bind and the benefits and advantages shall inure to the respective ruc-
<br />eesron and arrigtts of the parties hereto. Whenever tired, the singular number shall incfode the plural, the plural the
<br />ringnlaq and the etas of any gender shall include all gendetb.
<br />8. No waiver o[ any covenant herein or of the obligation secured hereby shall at any time thereafter be held
<br />to be a waiver of the terrw hereof or of the note secured hereby.
<br />9. Ia compliance with section 101.1 i d j of the Rules and Regulatioru of the Small Bwiness Administration [ 13
<br />C.ER. 301,1(4) ), this inrtrttioeut is to be eotnnwrued and enforced in accordance with applicable Federal law.
<br />10. h judicial decree, order, ar judgment holding any provision ar portion of this instrument invalid or un•.
<br />enforceable shall oat in any way impair ar preclude the enforcement of the remaining provisions or portiow of
<br />this itutrnneat.
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