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H1--~)0292Ei
<br />3. The mortgagor covenants and agroee that if he skald fail to pay acid indebtedness or any part therteif whit
<br />dne. or shall fail to perform any covenantor agreement of this instrument or the prom%ssory note secured hereby, the
<br />eetiro indebtedness hereby etxttrod shall immediately become dne, payable, and collectible without rtatiet, at the
<br />option of the mortgagee or assigns, regardless of maturity, and the mortgages or hie assigns may before or after entry
<br />sell acid property without appraieement (the mortgagor having waived and assigned to the mortgagee all`iigfits'hi
<br />appnisement)
<br />(t) at judicial sale puraaant to the provisions of 28 U.S.C. 2001{a); or
<br />(tt) at the optiar of the mortgagee, either by auction or by aoliciutioa of sealed bids,'fer thehi~esttmd
<br />hest bid complying with the terms of sale and roamer of payment specified in the published aeotkeE o(sR7e;7'ust
<br />giving four weeks' notice of the time, terms, and place of ouch sale, by advertisement not loss than once
<br />during each of said four weeks in a newspaper published or distributed in the county in which~said property
<br />is sittuted, all othee notice being hereby waived by the mortgagor (and said mortgagee, or any pesson ar
<br />behalf of ukd mortgagee, may bid with the unpaid indebtedness evidaroed by said note). Said. ask shall be
<br />' hehl at-or on the property to be sold or a the Federal, twunty, or city courthouse far the county is which the
<br />property is located. The mortgagee u hereby autltoriud to ezceute for and on behalf of the mortgagor and to
<br />deliver to the purchases at each tale a auffictart convevaace of acid property, which arnveyance shall contain
<br />eeeitab r to the 6apparing of the default upon which the execution of the power of oak herein granted
<br />depends; and the said mortgsgor hereby constitute and appoints the mortgagee or any agar¢ or attorney of the
<br />mortgagee, the agent and attorney in fact of said mortgagor to make such recital and to ezes:nte said
<br />conveyaaroe and hereby tovenanes aril agrees that the recitals so made shall be effectual to bar all equity or
<br />right of redemption, homestead, dower, and all other exemptions of the mortgagor, all of which are hereby
<br />ezpressly waived and conveyed to the mortgagee; or
<br />(at) take any other appropriate action pursuant to state or Federal statute either in state or Federal
<br />court or otherwise for the disposition of the property.
<br />In the event of a sale as hercinabove provided, the mortgagor or any person in possesion under the mortgagor shill
<br />then berme and be tertann bolding over and shall forthwith deliver poeseffiion to the purchaser at such sale or be
<br />summarily dispossessed, in accordance with the provisions of law appfi"lable to tenants holding over. The power
<br />and agency hereby granted are coupled with an interest and ace irrevocabidl~y death or othrrwix, and arc granted
<br />u cumulative to the remedies for collection of said indebtedness provided by haw,
<br />4. The proceeds o[ any sale of said property in accordance with the preceding pugr^ph. shall be applied first
<br />to pay the casts and expeme of said sale, the expenses incurred by the mortgagee for the purpose of protecting or main-
<br />taining said property, and reasonable attorneys' fees; secondly, to pav the indebtedties secured hereby ;and thirdly,
<br />to pay any surplus or excess to the person or persons legally entitled thereto.
<br />S. Ia the event said property ks sold at a judicial foreclowrc sale or pursuant to the power of sale heroiaabove
<br />granted, end the preeeeds are not-soi5ciart to pay the total indebtedness secured by this instrument and evidenced by
<br />said promissory cote, the mortgagee will be entitled to A defieieoey judgment for the amount of the deficiaicy ioithour
<br />°'~ ~ appnisemntt.
<br />6. [n the event the mortgagor fails to pay any Federal, state, or local tax assessment, income tax or other tax lien.
<br />charge, fee, or other expense charged against the property, the mortgagce is hereby authorised at hie option W pay
<br />the same. Any sums eo paid by the mortgagee ~tiall be added to and become a part of the principal amount of the
<br />indebtedness evidenced by said note, subject w ekes 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 diecleazge all tares
<br />a~ lieoa and the costs, fees, and expenses of making, enforcing, and executing this mortgage, then this mortgage
<br />shall be eaacekd and surrendered.
<br />7. The oovarante herein contained shall bind and the benefits and advantages shall inure to the repective euc-
<br />eerrea and assigns of the partie hereto. Whenever used, the singular number shall include the plural, the ptnral the
<br />ainptlar, and the use of my gender shall include all geaden.
<br />& No waiver of say covenant hercka or of the ohligatitw secured hereby shall at any time thereafter be field
<br />to be a xaiver of the terms hereof or of the note aecttred hereby.
<br />9. In co_pliaa« wkth sectiea 101.1 (d) o[ tlee Rules end Regulstiom of the Small Business Admknistratioo [1S
<br />C.F.R. 101.1(d) ), this kwtrrtmeot is to be coo~rred and enforced in accordance with rpplieabk Federal Uw.
<br />Ie. A jndieiak dertt+e, order, or judgment holding any provision or portion of this instrument invalid or era-
<br />eafararia6le shall sot kn soy way impair or preclude the arforcement of the remaining provisiom or portions of
<br />this iaatnrsaeni.
<br />cwo ova-~.e
<br />sea r..~ sar ts-»t
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