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3. The mortRaRor coren~nt~ aad +~Rre.w that it he-~h~lt I~il to p~y said indebted~ew o~ an~ part thenof whea
Jue. or shall fail to pertorm a~y cove~ant or a6ree~oent of t6i~ i~utrumeot o~ the promiwory note ~ecured 6ereby, the
entire indebtedae~+ hereby ~ecured shall immediately bec~me due, payabte. and collectible without aotice. ~t the
option o~ the monRa~ee or auiRn~. reRardlea~ of matueitr, asd the mort~a~ee or his aisi~ns mar betore or alter cnlry
~ell aid propertY without appraisement (the mort~ca6or h~vinR waived ared +wi~aed to the mortaaaee i11 ri~hts oi
apprai~emcat ) :
1 ~ 1 at judicial sale punuant to the provisioru of~28 U.S.G Z001( or
tt ) at the optioa of tha a~ort;asee, either b~ auction or by wlicitation o~ ~ealcd bid~, ~or the }u6hat a~d
be~t bld oompirin6 with the ~erm~ of wk and manaer o! papmwt ~peci6ed in the published notioe o[ sale, 6rat
Rivipg [oar weeks' teotice of the time, tettw, aad place o[ such sa1e; by advertieement not teM than once
durinR each -of eaid~four weeics in a aew~paper publi~hed or d'utribated in the county in which said propertr
is utwted, all other notioe be;na berebr wai~ed br ~he morea.6or (and said eaort~ee, or sa~ peraoa on
b~l,alt o[.aia more~a~ee, m.r b~d wie6 cbe nnpaid i~debc~d~a. e~deaoad by .,id noce). Said ~ale ~hsU be
held at or on the p~~~'~ld or at the Federal, co~wty, os city oonrthowe for the eouaty in w6ich tha
propert~ i~ locsted. rta~ee ~ hereby authori:ed to e:eente [or and on behal( of tbe mortsa6or md to
deliver to the purchaser at sncb wk a s~l6eieat ooaveyance o~ said propeety, ~rhich convepanca shall ooatain
recital~ a+ to the h~ppeains qf t~hq default npon whic6 the e:ecution of the power o( ~ak heni.a aranted
depeada; and'the ssid mott~e~r 6~r oon~tituta aad appoint~ ihe mortaa6ee or aaJr a;eat or attoraer of tbe
mortaa~ee, the a~eat and .aii~osws~ in faM of said mortsaaor to make such e+ecitat~ and to ex~ecqte ~aid
~~er~~ •ba ~r ~~a a~ that the recitab w made shaU b~ edectwl to bu a!1 eqnitr or
ri~ht o[ ndcm~tiob, bomes~[d, dower, and all other cxemptiotu of the luort6a~or. ~Il af Mrhich are herr,b~
expressly waive~' ~c~d .oonve~ed to the mort6a6ee; or .
(ttt) take any other appmptiate action pweuant to uate or Federd datate either in ~tate or Federal
coutt or otherwiee for the d'uposition of t6e property.
in the evcat of ~ sale as hereinabove provided, the mort6a~or or aay person i~ posees~ion under the mortaa~or shall
then become and be tenanta holdina over aad ~hall forthwith deliver posseasion to the purchaeer at snch sale or be
eummatily d'upo~sca~ed, in accordance witl~ the pmvi~iona of law appticabte to ten~nta holdiaa over. The power
and agency hereby granted s~re coupled with an intereat and are irrevocable by dexth or otherwie~ and are Rranted
as eumul~tive to the nmediea ior rnllectioa of aid iadebtedaess provided by law. .
.
4. T6e prooecds of m~ ~a1e o~ said propertr in accordmoe ~?Ith the p=~eoedia6 M~6~P~ ~hall be apPlied 5nt
eo pay the ~osts and expea~u of saia sak, e!k e:pea~es incurred br the mortaaaee tor the purpwe o! proteetina or maio-
taiaing eaid property, and reasonable attorae~s' teea; eecondly, to pay the indebtedness securetl hercbp; and thirdly,
to paY any surplus or ea~oees to the person or pereons IeRally entitled theteto.
S. In tbe e~reut said propertr i~ ~old at a jndicial foreclo~ure sale or punuaat to the po~rer of ~ak hereinabove
6ranted, and the prooeeds are not w6ciwt to pay t6e total indebtedneu sccurcd b~ ilw inatrameat and evidenoed br
eaid promiawry note, the raortaaaee will be eatitted to a deficieacy judemeat for the amount of the de~ciaary wit/~aut
rea~nd to sppniaem~nt.
6. Ia the event ihe mort6a~or faila to pap any Federal, state, ot.lceal tax as~eesment, income tu or other ta: lien,
charae. tee, or other e:pense char6ed aaainst the property. the mortgagee ia hereby authoriacd at his option to paf
the same. AnJr anms w paid by t6e mott~?~ shall be added to and become a part of the principal amount of the
indebtedaeas evidenced by said not~ subjeM to the same terma and conditions. If the mortaagor ahall pay and
diecharge the iadebtedt?ess evidenced by aaid promiseory not~ aad eha11 pay auch a~rru and aha11 diacharge all tazea
and lieas and the coatar Ites. and expensee of making, edforcing, and e:ecuting thia mortgage, then thia motl:gage
eha)1 be canceled and aurrendered.
T. The covenanta herein contained s6a11 bind aad the benefits and advantaRes ahall inure to the respective aac-
ce~son aad awi6as of the parties 6eteta ~henever u~ed, the sinaulu nvmber s6all inclnde the plnral, t6e plural tbe
diaanlu, and t6~ n~e ot anr 6end~r shall inciade atl6eadee~.
8. No waiver of any covenant hereia or o[ the obliaation ~erured 6erebr shati at any time thereafter be held
to be a wuver oi the ternu hereoi or o( the note eecured herebr.
9• In campliaaoe wit6 ~eetion 101.1(d) of the Rule~ and Reaulatiow of the Small BusineM Adminutration [13
C.F.R. lOl.l(d) J. thir iasttument u b be oo~tcued +iad enforoed in a«ord~noe Mrith applicabk Federal Lw.
10. A judicial deeree, ordcr, or judpnwt 6oldina any provision or portioo of thia inatrameat invalid or un-
eafor~xabk ahall not ia any way impair or preclude the enioroemeat of the ranainina provi~ions or portions of
t6is in~trument.
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