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Home My WebLink About2601 3. Th~ mortKnKor covenants and aRne~a that i[ he a~~all ~ail to ~~aj di~i indeb~t~u~ or aor pavt thereot when due. o~ eholl fail lo ~~rrf~um any covPna~~t or a~reement af this instrumcnt or tl~e pron~iesory notc ~ecured hereb~. tl~e ~nti~e indebtedneas I~~reby dccurec! shall immediately beeome due. payabl~. ancl collectible without aotice. at the option o( thr morlRaRer or easiRne, regardleas of maturity. a~d ti~r mo•tRaRee or hia assiRns may before o~ aftet eotry ~ sell eaid pro~xrty witl~out •ppraisement (the mortRa~or h~vinR waived and aasiRacrl to the mortRa~ee all riRbts o~ appraieement) : t at judicial sale pureuant to the p~oviaions of ~8 U.S.(:. 2001 l s); o~ (tt) at tbe option of the mortsa6ee. either b~ auetioa or by solicitation o! ~eakd bid~, for the hi6hat aad best bid complyiaa with the terms oi sale and maaner o[ paymea~ ~peci6ed in the publi~hcd notioe of ~ale, fit~t ~civin~ (our weeka notice o( the 1ime. terms, snd place of sucl~ sale, br advertiaement not leas than once ; durin~ each ot eaid four weeks in a newapaper publiahed or diatributecl in the county in whieh eaid property ~ u situated. all other notioe bein6 herebr aaived by the mortaagor (and ~aid mortaa6ee. or an~ perwn an j behall ot said mort~aaee, m~y bid M?ith t6e unpaid indebtedac» evidwoed by said note). Said ~ak ~hall be held at or on the property to be wld or at the Federal, couaty, or city courthowe for the couat~? in which the propeety iu located. The mortga6ee is hereby authori:ed to e:ecute Eor and on behalf of the mort6aaor aad to deliver to thc purchaeer at such sale a suJGcient ooaveyance of eaid pmpetty, which converance shall oontain tecitab aa to the happcnin6 of the detiult upon which the eacccntion of the power of sak hereia ~rranted depends; and the uid mort6a6or hereby coastitute~ aad appointa the motrtsaaee or an~ aaeat or attornep of tbe mortaaaee, the aae~t and attorner in fact o! aaid mortaa6or to make such recitab and to e=ecute ~aid ~ conve~ ance ~nd hereby covenants and asree~ that the recitab w made shall be eHectual to bar all e4uity or riKht of reclemption. homeatead. dower. and all other e~emptiona oi the mortgagor, all of wbich u+e 6ereby .r~preeah waived sad conve}ed to the mortgagce; or ~tt~1 take any other apNropriate actioa pureuant to atate or Federal etat~te-either in-stata or Fe~er~l ~ court o- otherNiee for the ~liapoaition of the propert~•. In the event o[ a aale as hereinabo~•e pro~~ded, the mortgaqor or any pereon in poeeeseion ander tfie mort6a6or shall ~ then become and be tenanta holdin~t over and ahall forthwith deliaer poaaeaeion to the purchaeer at auch sale or be ~ummaril~ di~po~e~+ed, in accordance with ihe proviaiona of law applicable to tenanta holdina over. The power and a~teney htrel~~~ gt'anted are toupltd wilh an intereet and are~irrevocable by death or otherwue. and ue granied ~ as cumulative to the remediea [or collectioa of esid indehtedneas prnvided by law. 4. The proeecds of anp aale o~ uid property in accordance with ihe precedina para6taph~ ahall be applied fint to pay the coeta and e~pensea of said sale, the ezpenses incurnd by the mortgaaee for the purpwe of pmtectin6 or main- taining said pmnert~~, aad reasonable attorne~s [eea; secondh, to pay the indebtedneee secu~ed hereby; and thirdly, to pa~ any eurplua or eaceas to the peraon or pereons le~aliy entitled thereto. ' S. In the eoent said property ia sold at a jndicial foreclosure sale or punuant to the power of sale hereinabove ' granted. and the proceeda are not an~cieat to pay the total indebtedneas secured by this instrument and evideaoed b~ ~ eaid promissory note, the mortgaaee will be entitled to a deficiency jud~nent for the amount of the ~eJGciencp wit/~a~ut ~ re6ard to spprsiaement. ~ 6. In the event the mortKagor fails to pa~ an~ Federal, etate, or local tax aaeeaament, income tas o~ other tas lien, char~e, fee, or other espense char~ced a~ainst the propertt, the mort~agee ia herebc authori~ed at hie option to pa~ the aame. An~ nama eo paid b~ the mort~agee shali be added to and become a part of the principal amouot ,of the indebtedness e~~idenced by said note, 8ubject to the ~an~e terir.e aad ronditione. ~ ~ i R S 7. The co~enanta herein contained ahall bind and the benefits and ad~-antaRes ahall inure to the reapective suc- cesson and sssigns of the parties hereto. Whenever used, the aingular number shall include the plural. the plural the ~ eingular. and the use of any gender shall 'wclude all genders. ~ ~ 8. No Maiver of am- co~enant herein or of the obligation secured hereby ahall at any time t6erea[ter be held ~ to be a waiver of the terms hereof or of the note ~ecured hereb~. ~ ~ ' ~ 9. In compliance with eection lOl.lld) of the Rules and Regulstions of the Small Bwineas Adminiatrat=e,n [13 ~ C.F.R. 101.11 d)], thia instrument ia to be construed and enforced in accordaace with applicabk Federal law. z 10. A judicial decree. order, or jud+unent holdinR any provision or portion of thie inatrument invalid or un- ~ ~nforceable Rhall not in anc wa}- impair or preclud~ the en(orcement of the remainin~ procisiona or portiuna cf ~ - ~hir inetrument. ~ ~ . ~z ~ ' ' . ~ ~ ~ . . ~«i94 ~ ~ . ~ ` ~BA F«a 17:(1 :Il ~ ~ ~ ~ . F c; r- ~I ~ ~ ~ a~ ~ . _ . _ _ . ' ~ - ...y• . ~.~-..:y - ~ '-e: :-i_w