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3. The mort6a~or covenants and aarees that if he shall tail to pay said iadebtedneN or anr part thereot when '
Jue. or shall ~ail to perform any covenant or aat~eemeat of t!w ituttumeut or the promi~sory aote ~ecured 6ereby. the ~
entiee indebtedneas hereby eecured shall immediately beoane due, payable, aad collectible without notice, ~t the i
option oi the mortgagee or assigas. regatdlea o[ matudt~, and the mortaaaee or his aesigns may before or after eatry~ ,
~ell, said pwperty w~thout appra;~° ph :~e~~portgagor havina waived aad assigned to the mottaagee all riahb of
appraieemeat) : ~'1 f ? ~ ` { '
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1 at jadicial sale pureuaat to the provisions oi 28 U.S.C. 2001( a); or ;
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( u) at the optioa ot t6e. mbrtaa6ee, eithec bJ? suction or by wlieitation o[ ~eakd bid~ [or tha bia6eK aad
be~t bid eomql~iaa witb tl~'s~p~~ ot wk and manaer of pa~ment ~peci6ed in tbe pubWhed notioe of sve. 5nt !
giving four weeks' notice ot aLe timG terms, and plaoe of such sale, by adverti~ement not lees th~n onoe~: ;
during each of ss~id four weeks in s newspaper published or distributed in the county in which said property !
i~ sitnated, all other notioe beina ltereb~ M?ai~ed b~ the mort6aaor (and ~aid mo~ee, or aay penon on i
behalf of said mort6asee, nur bid rvit6 the nnpaid indabtednea~ evidenced br said note). Said sale ~Lall be ~
held at or on the property to be wld or at the Federal, oouaty, or citJr ooutt6owe for the conat~ in whic6 the ~
property is located. T6e mortaaaee i~ henby authoriud to e~ecnte for and on behaV oi the mortaasor and to
deGver to the purchaeer at euc6 sak a su~cient oonveyance of said propert~, wluc6 oonve~moe shall contaia 4
recitaL as to the happenina oi the detault npoa w6ich the ezecntion of the power of sale herein ~rantal ;
depends; and the said mort~or hereby cunstituta and appoinb the mo~ea or mr a6ent or attorney of the ;
mortaaaee, the a6ent and attoraey in fad of said mortaa6or to make swc6 recitaL and to ezecnte ~aid 1
conreyanoe and hereby covenants and a6reer t6at the recitab w made shall be e$ectnal to bar aU eqnig or
right of redemption, homestead, dower, and all other e:emptiona of. the mortaaaor, all of .w~ich are henby
expreesly waived and conveyed to the mortgagee; or ~
(ni) take any other approptiate action pnrsuant to etate or Federal statute either in state or Federal
court or otherwise for the dieposition of the pmperty.
In the event o[ a eale as her~inabove pmvided, the mortga~or or any penon in poseeesion under the mortaagor ~hall ;
~hen become and be teaants holding over and ahall forthwith deliver poeseesion to the purchaaer at auch eale or be ;
summarily diapoeaeaeed, in accordance with the provieioas of laM? applicable to tenants holdin~ over. The power ~
aad agency hereby aranted arc coupled with an interest and are irrevocable by death or otherMriae, and are aranted -
ae cumulative to the remediee tor colleetion of said indebtednese pmvide~ by law. - ~
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4. T6e prooeeds of an~ ~ale o[ said properq itt aecordance with the preoedin6 Par+igaPhs shall be applied fiat ~
to pay the coab and espeases of said wle, the ea~penks incarred bp t6e mort6a~ee tor the. parEw~e oI proteetina or main-
taining said property, and reasonable attorneys' fees; secondly, to pay the indebtedness ~ecured hereby; and t6irdly, ~
to pay any surplna or e:cess to the person or penons legally entitled thento. . -
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S. In t6e event said pmperty is wld at a jadicial foreclwnre ~ale or pnnuant to t6e por?et of sale heninabove ~
arant«l, and the pro~xed~ ue not snicieat to pa~ the total indebtedne~a ~ecnred br t6» instrumeat snd e~ideaeed br
f eaid pmmirwry note, the mortaaaee wiU be eatided to a deficiency jnd~t for t6e amonnt of the deJicienry witko~t =
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6. In the event the mortgagor faila to pay any Federal, etate, or local tax aaseesment, income tax or other taz lien, f
charge, fee, or other expenee charged againat the property, the mortgagee ia 6ereby authorised at hia option to pay ~
the eame. Any eume eo paid by the mortgagee ahall be added to and become s part of the principal amonnt of the
, indebtednesa evidenced by said note, aubject to the same terms and conditiona. If t6e mortgagor ehall pay and
diecharge the indebtedaeas evidenced by said promissory note, and shall pay auch sums and ehall discharge aD tazea
and liens and the coata, feea, and ezpenaea of makin~y, enforcing, and ezecuting thia mortgage, then this mortgage
ahall be canceled and surrendered.
The covenants herein oontaiaed s6aU bind and the benefits and advanta~es ahall innn to t6e respective sac-
ceeeoa and asaiana of the partiea hereto. p6enevu u~ed, the sin6ulu number s6a11. inclnde tbe plnral, t6e plnral the
ainaulu, and tLe nae of any 6eader shaU iaclnde aU aeaden. -
8. No w+aiver of any covenant herein or of the obligation kcured hereby shall st any wne thereafter be held
~ to be a wuver of the terms hereof or of the note eecnred hereby.
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9. In compliance with aection 101.1(d) of the Rnle~ md Regulationa of the Small Bnsinew Admiaistntioa [13
C.F.R 101.1(d) tlw iwtrument ia~to be con~trued and eaforoed in aeoordanoe aitb appiicable Feder~l Lw.
lU. A judicial decree, order, or jud~nent holdina any pmvision or portion of this inatrnment invalid or nn-
en[oroeable ahall not in any way impair or pteclade the eaforeement o[ the remainin6 provisions or portions o#
this instrument.
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