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Home My WebLink About0642 ~ ; * ' - ~ d i.j! ' I 3. The mortgagor covena~ts aad aRreea that i( he shall Iail to pay eaid indebtednees or any part thenof when due. or shall fail to perform any covenant or a6reemeat of t61~ inatrumeat or the promiseory note secured hereby. the entire indebtednese he~eby eecured ahall immediately become due. payable. and collectible.without notice, at the option ot the mottRaRee or asaiRns. regardlese of maturity, aAd the mortRaRce or his asei~~s may before or ~fter entry ~ ~ell ~aid ~property without appraieement (the mortgagor havin~ w~ived and aesi~ned to the mottgagee all ri~his of ~ appraieement) : . . ~~,N 3~ C i S ~ . ' ( at judicial eale purouant to ihe proviaions of 28 U.S.G 2001 ~a): or (tt) at the optioa ot the mortaasee, either b~ auction or by ~olicitatioa of ~ealed bida, (or the hig6qt and be~t bid complyiaa :~?ith the terms ot sale and manaer of payment apeci5ed ia the pnblished notioe o[ ~ak, &nt ~ giving four weeks' aotice of the time, terms, and place of such sale; by advettisemeat aot less than once ; during eacfi oi said four weeks in a newapaper publiehed or diatributed in the couaty in which said property ed. is ~ituated. all other notiee bein6 hereb~ waivecl by the mortaaaor ( aa~ ~.igpctaaEee~ or any petwn on behalt o[ said mortaaaee, mar bid wit6 t6e napaid indebtednew evid`ea«d~r ~d aote). Said sale ~hall be held at or on the property to be wld or at the Federal. county. or city oouethowe for the coanty in which the property is located. The mortsa6ee is hereby authorised to ezecute tor and on behal[ of the mortaaaor and to deliver to the purchaeer at s~ch sak a su~icient conveyance of aaid pmperty, whic6 co4verance ehali contain recitab as to the happenina ot the detault upon which the e:ecution of the power of sak berein 6ranted depead~; and tLe said mort6aaor hereb~+ oonstituter and appoints the mortaaaee or any ageat or attorney oi the mortaa6ee, the aaent aad attorne~ in fact of said mortaaaor to matce such recitaL and to esecute said ; conveyance and hereby covenanta and a6ree~ that the recitab w made shall be eBcctnal to bar all eq~ity or 3 riRht of redemption, homeatead, dower. and all otl~er exemptiona of the mortga6or, all of Mrhich are hereby expreaely waived and conveyed to the morigagee; or (~u) take any other appropriate action purauant to state or Federal awtute either in etate or Federal court or otherwiee for ~he disposition of the property. In the event oi a aale aa hereinabove provided, the mortgagor or any pereon in poaeeaeion under the mort6agor ahall then become and be tenaata holdinq over and ehalt forthwith deliver poaseseion to the purchasec at such sale or be summarily diapoeaeaeed. in accordance with the pmviaione o( 1aw applicable to tenanta holding over. The power and agency hereb~ granted are coupled with an intereat and are irrevocable by death or otherwise, and are granted ae cumulative to the remediea for collection of aaid indebtedneee provided by law. ~ 4. The prooeeds oi an~ sale of said property in accordance Mrith tbe pr~eoedina para~aP}u shall be applied fir~t to pay the ewL and e:penses of ~aid sale, the etpenees incurred by tbe mortaaaee for the parpwe of protectina or nain- taining aaid property. and reaaonable attorneys' feea; secondly, to pay~the indebtedness aecured hereby; and thirdly, . to pay any eurplus or exoces to the person or persona legally eatitled thereto. , S. In tbe eveat said property is wld at a jndicial foreclosun sale or punuant to the power of eale hereinabo~e granted, and the proceeJs ate not suieient to pay the total indebtedneae secured br this iuutrumeat and evideneed by eaid promissorp note, the mortg:6ee will be entitlcd to a deficiency judpnent for the amount of the deJiciencp witkout j resard to approisement. ~ ' 6. In ihe e~ent the mort~;agor faila to pa~ any Federal, etate, or local tax aseesament, income tax or other taz lien. ~ charge, fee, or other expenae charged againet ihe property, the mort~agee ia hereby authori:ed at his option to pa~ ~ the eame. Any euma so paid by the mortgagce ahall be added to and become a part of the principal amo~nt of the ~ indebtedness evidenced b}• said note, subject to the aame terma and conditione. If the mortgagor ahal) pay and ~ discharge the indebtednesa evidenced by said promieaory note, and shall pay such eums and shall discharge all taaea ~ and liens and the coeta, feea. and expenaea oi making, enforcing, and executing thia mortgage, then thia mortgage ~ shal~ be canceled and eurrendered. : ~ g 7. The covenanta herein contained ahall bind snd the beneSta and advantaRes ahall inure to the reepective suc• ~ cessors and assians of the partid hento. Whenever used, the sinaular namber shall inclnde the plaral, the plnral the " ~ einaular, and the ~e of any aender ~6a11 include all aenden. ~ i 5 8. No waiver of any covenant herein or of the obligation eecured hereby ahall at any time thereafter be held ; to be a waiver oI the terme hereof or of the note eecured hereby. . ; 9. In compliance with eection 101.1(d) of the Rulea and Regulationa of the Small Boaineas Administration [13 s C.F.R. 101.1(d) thia iwtrnment is to be conatrued and enforoed in accordance with applicable Federal law. , ~ ~ lU. A judicial decree, order, or judRrnent holdinR anr pmvision or porticn o( thia instrument invalid or nn• ' enforceable ahall not in any way impair or preclude the en[onement of the nmxinina proviaiona or portiona of ~ this instrument. ~ z ~ - ~ ~ 58A F~r~ 9=7 1~-T~) t , ~ ^~T ( 1 E' ~t FA[~E ~ ~ ~ a ~ = ~ ~e._ _ ~ .