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<br />sl-f~a2s1~ <br />• ~§~. ;The mortgagor ewvenants; acid agrees Efrst-if ha shall fail to-pay said indebtedness or any part=;;thereof when <br />dtor-shall fail to perforru art`y` eavenaat ar agreement of.tbta•instrument or the promis.~ory note aecured'hereby, the <br />~ lhdebtednese hereby secured "shall immedieteiy becotHe-;due, payable, and collectible without notice, at the <br />~:: <br />op~gn iaf the mortgagce or assigns, regardiese of maturitq, and'tfte mortgagee or his aseigtts may before or after sure <br />ttelt aat~ ltropeaty wathout';app;aiasrrtant-(the mortgagor having waived and assiKned to the mortgagee all rig}tts of <br />apgraisemeatf <br />(t} at judicial sale pursuant to the provisions erf 28 U.S:C. 2(!01 i a t ; ur <br />(u) at the option-of the mortgagee, either by anctioa or by solicitation of sealed bids; for the. highest and <br />-:best bid complying with the terms of sale and manner of payment specified in the published notice of salt, first <br />giving four weeks' notice of the time, terms, and- place of such sale, M advrrtisement •not lean than untie <br />' daring each of esid"four weeks in a newspaper ptahlished or distributed in the cotmty in which said prnperty <br />~s situated, all other notice" being-6erehy waived by the mortgagor (and said mortgagee; or any person oa <br />behalf of said martgagte, may bid with-the unpaid indebtedness evidenced by said note). Said sale 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 authorised to ezecute for and on behalf of the mortgagor and to <br />defiver to the pttrehaser at saGh salt a sufficient conveyance of said property, which conveyance shall contain <br />teoitttla? s- a the' happening- of the default upon which the e:ecntion of the power of ask herein granted <br />depends; sad She wid martgsgor hereby constitutes and appoints the mortgagee or any agent or attorney of the <br />min2gagix,"" t$i1>' assert` and at[urney in fact of said mortgagor to make ouch recitals and to execute said <br />extaveyaace sad hsroby covenants and agrees that the recitals eo made. shall be effectual to bar all equity or <br />right etf redemption; homeMesd; dower, and all other exemptions of the mortfcagor, all of which are Lerehy <br />expressly waived` and conveyed' to the mortgagee; or <br />(tu) take any other appropriate action purauaut to state or Federrt statute either in elate ur Federal <br />epttet or otherwise for the dispeosition of the property. <br />En the event of a Bale as hereinbefore provided, the mortgagor or any persons in poeeeesion tinder the mort• <br />gagor shall then become and be tenants holding aver and shall forthwith deliver possession to the purchaser at <br />such sale or be summarily eliapoeaeaeed, in accordance. with the provisions of law applicable to tenants balding over. <br />The power and agamty-het44iy gamed are coupled with an interest and are irrevocable by death or vthen.•ise, and <br />are gran~edaacumuIativu,tathe remedies for collection of said indebtedness provided M la«. <br />4. The pioooeds of any sale o€ said pzopertp in accordance with the preceding paragraphs shall be applied first <br />to pay the costa sod. ezpeaeeaof said sale, the expenses incurred by the t~rtgagce far the purpose of protecting ar main- <br />taiaiagwid property, andreasgpable attorneys' fees; secondly, to pay the iudebtedneassecured hereby; and thir+ily, <br />to pay any surplus or"" to the person or persona legally entitled-thereto: <br />S. bathe svantsaid-property is Bold at a judieid forectaeure sale or pursuant to the power of sale hetreia~bove <br />granted, and the proceeds are not ettl6cient to pay the total indebtedness secured by this instrument sad evidenced by <br />said promiswry Hots, the mortgagee will be entitled to a deficiency. judgnteat for the amount of the eltficie:ncy uathosu <br />regard to eppntiaarsewt. <br />6. In the event the mortgagor fails to gay. any Feelers!, state, or local tax asseasmeut, ine:onte tax or other tai <br />lion, charge. fee, or other ezpesee charged against. the property the mortgagee is hereby authorized at his option to <br />pay the saute. Any stems s+> paid by the mortgagee shall be added to and become a part oC the principal amount of the <br />iadebtetbtess evidenced by said note, subject to the same terms and conditions. If the mortgagor shall pay and <br />di.ebarge the indebtetdttna evidtweed by said gromiswry Dote, and shall pay such stews and shall. discharge all <br />tsttw and tieas and the costw fees, and ezpesses of making, emforeiug, sad e:ectttie-g this mortgage, rhea this mortgrge <br />~~ be caneelad sad wt3mtsderad. <br />2. 'The eoveaasts herein contaaned shall bind and the benefits and advautagras eltal! inure to the rrsprctive nuc- <br />e®rson rind aatigsa of tLe pa:aleabereto. pheaerer uatxi, the siagnlu number shall incinde the plural, the plural the <br />ttitsgv,Lr, and the twt of say Sacndv shall iaclade aU genders. <br />d l~.waiver of-say eoveaaat herein err of the obligation secured hereby shall at and time: thereaieer ire held <br />m be s waiver of the tersas hereof ar of the sate secured hereby. <br />9:.+L, jadisal aecrea order, or lua6+~t wing: ~Y Mroviaiou:.ur purtiou nI. tLtia iwttrampttt invalid ur uuwt- <br />fq~ shall:aot in any tKay impair or precladt the enfarc.emeat_ of the retnainirys provisions or pprtiona of this <br />it~r-maeat . <br />k~ tta~attt notion ~ lee fitttraa~ta the mortgagor pttranaat to the proviaicw of this iaNrmhaent shall ba ad• <br />tkt~nsad to 1fta+ tugtt~al@ap at. <br />sad say written notice W be iraed to the mortgagee shalt <br />lf+e atidroued to the morWice at <br />sew +=anse szs sx.~st <br />