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3. The mor~gagur cuveuants and agreea that if he shall fail to p~~• eaid indeLtednesu ur an~ part thereo( when
due, or ehall fail to per(orm any covenant or agreemet~t of thie inetrument or the promis,wry• note secured hereby. the
entire iadebteJnesa hereby secured shall immediately become due. payable, and collectible without notice, at the
option of the mortg~gee or aasiKna, regardlees of maturity, and the mortgagee or his aeeiRne ma}• before or after entr~•
eell said property witl~out appraieemeot 1 the mortgaRor hevinR wsive~l and aeeiKned to tl~e mortRaRee all riRhte o~ ~
appreisement 1: _
1 ~ 1 at judicial eale •puruuant to the provieioas oi 28 U.S.(:. 2W1 ~ a 1; ur _
(~t) at the optioa of the mortgagee, either by auction or by eolicitation of sealed bids, for the higheat and
beat bid complyin6 with the terms of sale and manner of payment speci6ed in the published notice of sale, fint
~i~ing four weeke notice of the time, tern~a. and place of uuch uale, b~- ~~Iverli~ement not le~ Ihan unce
diuiag each of eaid four weel~ca in a newspaper publiehed or dLYtibuted in the county in which said property
ia eituated, all ot6er aotice being hereby waived by the mortgagor (and said mortgagee, or any pereon oa
behalf oi aaid mortaagee, may bid with the nnpaid indebtedaess evidenced by eaid note). Said aale sha11 be
held at or on the pmperty to ~~1~ ~r a~~~'~pl~~county, or city rnurthouee for the county in whicb the
property ie located. The mortg ee ere y an Q to execute for and on behalf of the mortgagor and to
deliver to the purchaeer at euFh s~~a ~.~uu~it~sere~ance o! said pmpeity, which conveyance shall contain
recitals aa to the happening oi tLe d~i~lt' `~~ea ~vhich the ezecution of ihe power of sale herein aranted
depends; and the said mortgagor ~e ~~q}„#'}co, ~iq.and a inta the mort a ee or an a ent or attorne oi the
ql~~4 . PP~~ 6 8 i' $ 7
mortgagee, the a~nt and attord~yf 5~~~id~6f -said mortgagor to make auch recitals and to ezecute eaid
coaveyanoe and hereby covenants and agrees 1h~t the recitals so made shall be egectual to bu all equity or
right of redemption. I~omeatead. dower. aad all other exemptions of the mortKe~tor, all of which are hereh~
eapreaely waived and conve~•ed to the moctgagee; or
(utl take any other appropriate actiou pureuant to utate ur Federal atatutr either in atatr ur h'edrra)
court or othprwiae for the dispoeition of the propert~-.
In the event of a eale ae heninbefore provided, the mortgagor or any peraona in poseeeaion nnder the mort-
gagor ahall then become and be tenante hoidiag over and ahall forthwith deliver posaeaeion to the purchaaer at
such aale or be aummarily diepoeseaeed, in accordance with the pmviaiona of law a~,plicable to tenanta holciin~ over.
The power and agency hereby granted are coupled with an intereat and are irrevocable b~ death or otherwire, and
are granted aa cumulative to the remediee for collection of eaid indebtedneaa provided b~• law-.
4. The proceeds of any eale of esid pmperty in accordance with_ the preceding paragraphs ahall be applied Srst
to pay the coete and e:peneea of said sale, the ezpenses incurred by the mortgagee for the purpoee of protecting or main-
taining eaid property, and reaeonable attomeys' feea; aecondly, to pa~- tlie indebtedne8e secured hereb~ ; a~ul thirdly,
to pay any surplus or ezceee to the pereon or pereons legali~ entitled thereto.
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! S. In the event said propert} ia sold at a judicisi forecloaure sale or pursuant tu the power of aale hereinebove
~ granted, and the proceede are not eul6cient to pay the total indebtedneaa eecured by thie inetrunlent and evidenced by .
~ aaid promisaory note, the mortgagee will be entitled to a deficiency judgment for the amount of the deficiency without
t re6ord to appraiaement.
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6. In the event the mortgagor fails to pa~ an}' Federal, state, ur local tax aasebeme~u, income tax or uther ta~
lien, charge, fee, or other expenee charged againat the property the mortgagee ia hereb~• authorized at hia option to
pay the eame. Any euma so paid by the mortgagee ehall be added to and become a part of the principal amount ot tl~c
indebtedneas evidenced b}- eaid note, subject to the eame terma and conditiona. If the mortgagor ehall pay and
diecharge the indebtednees evidenced by esid promiesory note, :
nd ahall pay euch sume and ahall diecharge all
taaee and liene and the coets, feea, and ezpenses of making, enforcing, and ezecuting thia mortgage, thea this mortgage
•hall be canceled and surrendered. -
~ 7. The eovenants herein contained shall bind and the benefita and advantage~ ~hall inure lu the rrw~?rctive a~~c-
ceeeora and sssigns of the parties hereto. Whenever used, the eingalar number shall include the plural, the plunl the
~ eingnlar, and the use of any gender ehall iaclnde all 6cnden. -
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~ 8. No waiver of any covenant herein or of the obligation eecureJ hereb}~ Rhall a~ am ~ime therrahrr be hel~l
~ to be a waiver of the terme hereof or of the note aecured hereby~.
9. A jndicial decree, order, or judgment holding suy provision ur purtiou o[ tbi~ iuelru~neat invalid ur u~icu- <
forceable ahall not in any way impair or preclude the enforcement of the remaining ~~rovieiona or ~~ortions of thie _
i~fatrument.
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10. Any written notice to be ieeued to t6e mortgagor punuant to the pmvisioaa oi this inetn~ment ehail be ad-
f. dre~sed to tb. mortaaRor at ;
and any writtea notice to be iesued to the mortga~ee ahall :
~
be addrased w tb~ mortaagee at ;
SBA FpRM 928 (2-73) a~~~~ 1~1 I
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