|
$1 ~ v ~; ~ ~'~'~
<br />3. The mortgagor eavenanta and aitren that if he shall fall to pay acid indebtedness ar any part ther~t when
<br />slot, ax shelf fait to perform sr-y covaararrt or agreement of this instrument or the promiswry note secured hereby, the
<br />,mot;ro indebtedness hereby nteartd ahail imtntdiately bxtome due, payaFsle, and ealiPCtib)t without notice, at the
<br />optiaa of the mortga~s or saaigns. regardkss of maturity, and the mortgagee or his asaigtsa may before or aker entry
<br />sell acid property without appraiatmatt (the mortgagor having waived and assigned to the mortgagee all rusts of
<br />,appraisetnent)
<br />t t) at judicial sate purser= t to the provisions of 28 U.S.C. 2001(a j : or
<br />(R) at the option of the mortgagee, either by suction or by aoiieitatioa of aeakd bida,'tor the highest sad
<br />bent hid toarplying with the terrrro of sak sad meaner of payment specified in the published notice of sale, Eau
<br />giving four weeks' notice of the time, terms, and place of such sale, by advtrtisemert not lea than onto
<br />during tech of said tour weeks in s newspaper published or distributed in the county in which said property
<br />u siwated, sit other notice being hereby waived by the mortgagor (and said mortgagee, or say peraoa as
<br />bohali oB osid mortgagee, may bid with the napaid indebtedner evideaeed by ssid ante). Said ask shall be
<br />herd art or oa the property to be sold or at the Federal, county, or city courthowe for the county is which the
<br />property is located. The mortg.,sce i. hereby authorised to eaecute [or sad on behalf of the mortgagor and to
<br />deliver to the parehaser at such uk a wf6cient eonveyanct of said property, which conveyaace aha11 contain
<br />tatitaM as ?rIG Tji~~ bt tt4tr'titYanlt upon which the eaeeudon of the power of uk herein granted
<br />depends; apr~ ~e said mastga~ Ircrdiy ooostitutes and appbieta the mortgagee or any agent or attorney of the
<br />mortgagee, the-' a~ and attoaaey is fact at laid mortgagor to make suds reeitala and to e:etnte said
<br />eaasveyattea sad hereby eoveatnso sad agrees that the recitals so made shall be elrectual to bar alt etryity or
<br />right of redemption, homestead, dower, and all other exemptioru of the mortgagor, all of which are hereby
<br />eaptesaly waived and cwrveyed to the mortgagee: or
<br />(tn} take any other sppropriete aMian panuant to sUte or Federal statute either in etas or Federal
<br />court or otherwise for the dupwition of the property.
<br />In the rues[ of a sale as hereinabove provided. the mortgagor or any persart in possession under the mortgagor shall
<br />rhea becaime and lee tenants holding over and shall forthwith deliver poaaession to the purchraer at such wk or be
<br />summarily dispewaessed, in aceordanee with the provisions of law applicable to tenants holding over. The. power
<br />sad agency hereby granted era conpitd with an intertat and are. irrevoaablt by death or otherwise, and art granted
<br />as cumulative to the rerrredier for collection of said indtbtednaa provided by Irw.
<br />4 The pneeeeda of any ask of acid property in accordance with the preceding pangnphs shat) be applied firm
<br />w pay the costa and enpeoaea of said sale, the eapenses incurred by the mortgagee for the purpose of protecting or maim
<br />taeaing said property, and reasonable attoroeye' tees: secondly, to pay the indebtednese secured hereby: and thirdly.
<br />to pay say wrplns or excess to the person or perfom legally entitled thereto.
<br />S. In the evert acid property is sold at • judicial foreclosure ule or pursuant to the power o[ sale hereinabove
<br />gratated, and' the peoeeeds are not artitiertt to pay the tool indebteatress secured by this inatramaot sad erideareed by
<br />said pretaiasocy note. the mortgagee wilt be tatitkd to • deficiessey jttdgmeat for the amount of the deJFriewty srrirkow
<br />to etlrprrr«aatsnsgt.
<br />6, In the rven6 the morttagor fasts to lfay Bap' )'edtral, state, or tonal tax asressmeut, income tea or other tae lieu.
<br />charge, tent, or other expense charged agaitwt the peaperev, rite srnsregagte is hcrtbt astelsoriaed at his option tcs pay
<br />the sates. Any sums so paid by the mortgagee shall be added w and become a part of the printipai amount of the
<br />iatkhtedaesa evidenced by said note, subject to the same terms and conditions. If the mortgagor shall pay and
<br />discharge the indebtedness evidenced by said promissory Hoer, and shat! pay such sums anJ shall discharge all to:es
<br />and lim+s sad the costs, tees, and expenses of making, enforcing, and rsecuting this mortgage, then this mortgxge
<br />shat! las e-sweated ~i surr~eaedtr~eit.
<br />7. The tnvaoanu herein contained sheet bind sad the benefits rnd advanta~tea shall inure to the respective sttt•
<br />rottawsn trod angigas at tIta parties hereto. ~heaerar used, the singular number shall iaelnde the plsual, the ptaral the
<br />ailtya,'I+rr. -sd t-s nee err amy pader shall iaeluda ail geradars.
<br />8. talc wsliwr o~ say ttsveaaat berets ar a< the obligation steered hereby shall at any titer theresftet be held
<br />rwa M a' adai+asr of the tarmr hateot or at the Hate aewted hereby.
<br />[n eatwpllwsca with seetiaa 101.1 Id) of the Rules sad Regutatiorw of the Small Bewness Admiaatratioa (l3
<br />rG.F.li. i$1:,1id}j, this iourumeai is to be oostatrutd and eaiatced in accardaaec with appliubk Fedtnl law.
<br />l0, li jai derervia, at.ler, or jtsdgmsat hotdir~ any provision or portion of chi. irrtrument invalid or tm-
<br />a~art?eaWe shall sat is say way iarpair or preclude the entoroement of the remaining proviaiprn or portions of
<br />t~s
<br />914 r«.: p9 ri-tir
<br />
|