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<br />3: The mortgagor covenants and agrees that i[ he shall fail to pay said indebtedness or any part thereof when
<br />due, or ahafl fail to perform any covenant or agreement of this instrument or the promissory note secured hereby, the
<br />entire indebtedneee hereby secured shall immediately became due, payable, and collectible without notice, at the
<br />option of the morigagee or assigns, rtgardless of maturity, and the mortgagee or his assigns may before or after carry
<br />sell said property without apprateement {the mortgagor' haying waived and assigned to the mortgagee ail rights of
<br />apprrrsmcat)
<br />(tl at judicial Bale pureoant to the provisions of 28 U.S.C. 2fx11(a) ; or
<br />(tt) at the optima of the mortgagee, either by anetioa or by wlicitation of seated bids,~fot the highest atsd
<br />best bid complying with the terau of wle and manner of payment specified in the published noted: of Bale, teat
<br />giving four weeks' notice of the time, terms, and p-ace of such sale, by advertisement not lase t;;an once
<br />during each of said four weeks in a newspaper published or distributed in the county in which said prop~~~
<br />:; situated, all other notice being hereby waived bq the mortgagor (and said mortgagee, or any pers~ en
<br />behalf of said mortgagee, may bid with the unpaid indebtedness evidenced by said Hots}. Said sale shall be
<br />hsld at or oo the property to be sold or at the Federal, county, or city conrthouee 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 acid property, which conveyance shall contain
<br />reeitab as to the happening of the default upon which the eaecntion of the power of sale herein granted
<br />depends; and the said- mortgagor hereby constitutes and appbinta the mortgagee or any agent or attorney of the
<br />mortgagee, the agent sad attorney in fact of said mortgagor to males such recitals and to e:eeate said
<br />twnveyantx sad hereby covenants and agrees that the recitals eo made ehail 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 />eapreesly waived sad conveyed to the mortgagee; or
<br />(rat} take any other appropriate aMion pnrsnaat to state or Federal etatate 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 poexesion ender the mortgagor si~ !!
<br />then become and be tenants holding over and shall forthwith deliver poeseasion to the purchaser at such sale or be
<br />summarily dispoeeessed, in accordance with the provisions of law applicable to tenants holding over. 'fhe power
<br />and agency hereby granted are coupled with an interest and are irrevocable by death or otherwise, and ere granted
<br />w camulative to the remedies for collection of said indebtedness provided by law.
<br />4 The proceeds of any sale of said F-opertq in accordance with the preceding paragraphs shall be applied 'Lest
<br />to pay fire casts and eapemes of esid sale, the expenses incurred by the mortgagee [or the purpoec of protecting or main,
<br />raining said property, sad reasonable attorneve` fees; secondly, to pay the indebtedness secured hereby; and thirdly
<br />to pay say surplus or eaceas to the person or persons legally entitled thereto.
<br />S. Ia the event said property ie sold at a judicial foreclosure sale or pursuant to the power of Bale hereinebove
<br />granted, and the proceeds are not suici~t to pjy the to41 indebtedner secured by this instrumwt and evidmoed Bq
<br />said promirory ante, the mortgagce will be entitled to x deficiency judgment for the amount of the dejGcirlttcy toitkottt
<br />regard to appraire+neat.
<br />6. In the event the morigagor 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 mortgagee is hereby authorised et his option to pay
<br />the same. Any sums so paid by the mortgagce shall be added to and become a part of the peincipai amount of the
<br />indebtedness evidenced by said note, subject to the same terms and conditions. Ii the awrtgagor shall pay and
<br />discharge the indebtedness evidenced by said promissory note, and shall pay such sums and shall discharge all tares
<br />and liens and the costa, fees, and expenses of making, enforcing, and executing this mortgage, then this mortgage
<br />shalt be canceled and surrendered.
<br />7. The covenants herein contained shall bind and the benefits and advantages shall inure to the respective snc-
<br />cusor and asatgas ~ the pariiee hereto. Rltenever used, the singular number shall iaclade the plural, the plural the
<br />sio&alar, and the use of say gender shall ittclnde all gender.
<br />JL No waive of any covenant herein or of the obligation secured hereby shall at any time thereafter be held
<br />to Ito a waiver of the terror hereof oe of the note secured hereby.
<br />9. ~ ooasPliance with section 101.1 (d) of the Rnlea and ftegulatiom of the Small Baeineas Administration [l3
<br />C.F.H. IOLi(dl ), this inutrument is to be construed and enfoettd in accordance with applicable Federal law.
<br />ill. A judicial decree, order, or judgment holding any provision or porpoa of this instrument invalid or un-
<br />mforeeabk shall not in say way impair or preclade thr enforcement of the remaining provisions or portions of
<br />tlaia instrument.
<br />say -~vr 4r7 Is-1a)
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