HomeMy WebLinkAbout0572 _
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't The tnortsasor covenants sad aGreea that it be ai~a isil to Wr said indebtednaa or say park tbeerol whew
dWe, altali (ail to pertona say covenant or agreamdii 0~`~1~-j~ute~tmeat or the promiMOry cote aaeM~+ed bee~ebr, the
~ira~ indebtedness hereby secured, shall ime~tdiatelj bs~o~ due, payabk, and colkctibk witheut ~iee. at the
of the morlgaGee ~ aailoiu. reRsrdkas of maturity. ~q~ the mortGaGee or his assigns may be~i~e of fitter entry
ieA acid property withodR apprairement (tbe,wwrt6asor ~ar~ waived and awirp+ed to the inort~a~M aQ rishu of
aFPt~aeeseat) t
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I tl at judicial sak pursuant to the provisions o[
~B U.S.G 2O01(a) ; or _
(n) tit ebs optiow of the awrtgeg'~ either by a os by iolicitatiow of aeakd bidtiY~rt)te bisbe~t sled _
beat. bid. oompiyki with the teems of oak artd maanq~ of pay~wast sped6ed is the pebliahed t~otioe it sale, Ent -
Giving [cue weeks' notice of the time, terms. and ~ Piave of such sale. by adre:tiaen:eat rtot kas- thaw owce -
- during esch of acid tour, weeks is, a newspaper pub~islsed oar dwribnted ip tM oow;ty iA which PmPmh?
k aitttated, all ot6sr aoloe being 6ae+eb7. waived. b~ the nwet6aaoc (etsd acid aaoatgApe~ ~?r ~ sap pat+w~ a
bebalt of said mortga6e~e, may bid with the mFei~i iadebtetloaa evidenced by acid note). Said sale shall be
held at or oa the property to be soW or at the ~ederal,~ county, or city eoutthoase for the comfy in ~?bich the =
properq i. located. The mortgsgee k ber+eby authorised to execute for and oa behaU of the mortgagor sad is
daliver to the parehasee at such ask a anl6cieat wnveyanee ai said property, which oonveyanoe shell contain
reeitaL m to the happmiag of the detaalt opoa which the exeeupoa of the power of ask bereiw grawted _
depends; and the acid wartgagoe berebp coastitntes and ap~biata the mortgagee or any agent or attwaey os the
mortgagee, the sgeat and . attor~eir inn iaa of grid nsortaagos to make such r~etitab sad to eooeente acid
eonveyaaoe sad y eovtnaats and .ate tbit the recitals so ,trade shall be eteetnal ~o bar~all egniq er _
riGht of redemption, homestead, dower, and all other exemption of the mortgagor, all of which are hereby
expr~daly waived sad conveyed to the mortgagee; or
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(ttt) take any other.appropriate~actia~tt pnrsnaat to state or Federal statate either in state or Federal
court or otherwise for the dlspositiost of the .property.
In the event of a sale as her+einabove provided, the nrortGaGor or any person in possession under the mortgaGor shad
then become and be tenants holding over and shall forthwith deliver possession to the purchaser at such sak or be
summarily dispo«es.ed, is accordance with the provision of law applieabk to tensnts holding over. The power -
and aGeney hereby Granted art coupled with an interest sad an irrevocable by death or otherwise, and are Granted
as emm~iative to -the r~nedie. for eolketion of said iadebtedaeas provided by law. -
4. The proceeds of any sak of said Property in accordance with the preceding paragraphs shall be applied 5rst
to pay the costs sad e:pensa of said sale, the e:pensa inearred bl the mortgagee for the parpoae of protecting or mais•
raining said property. and reasor?sbk attorneys' tees; secondly, to pay the indebtedness etcured hereby; and thirdly,
to pay any aurplw or excess. to the pennon or person_legallr entitled thcnto. '
. S. In the evewt acid properq is sold at a judicial toreeiosun sale or pursuant to the power of sale her+einabore
granted, sad the pe+oeseds arc tat wicient to p:y the total indebtedness secured by this iayt ieneed by
said prmnissorjr note, the mortgagee will be entitled to a deficiency judgment for the ana raithoau
regard to sipprrliae+wast. ~
6. In the Brent tht mortga fior Fails to par any Federal, state, or local tax assessment, incogre.tas or othex tax lien,
charge, tee, or other tsptme charged agaiasf the property, the mortG:Gee is hereby anthoAt~~.it~his op'tioe to pay
the same. Any sua» a paid by the rnortgaget shall be added to and became a part of the pivieipal amount of the
indebtedness evidenced by said note, subject to the same terms and conditions. I! the rPP?t6a shall =Ray :and
discharge the indebtedness evidenced by said promissory note, and shall pay such wms and l~all~arge all•ts:es
and -liens and the costs, fees, and experacs of making, entoreialr and executing this mortgage, then this mortgage
I' shall ba carreekd sad snrnndered.
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7. The covtnaats ber+ein contained shall bind and the benefits and adv -
f eesaors snd assigps o[ the partite hereto. phewever need, the aiagnlar cumber ihatl iaclada the phual,
bt~aphtraln tba
E singalar, and the nae of aq Gender shall inalade all gende:+s.
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8. No waiver of any eoveaaat herein or of the obligation secured 6cnby shall at any time thtreatter be held
to be a waiver of the terms hereof or o[ the note secured hereby.
9. Ia compliance with section 101.1(d) of the Rnka and Regnlatiow of the Small Bslsineas Adssinistratioa [l3
C.F.R lOl.l(d)j, this iastrumeat is to be coastroed and enforced iw sooordaaee Mit6 applicable Federal law. -
!0. A jndieisif decree, order, or jndG.nwt holding any provision or portioe of this itrtrnmtat imaNd or aa-
entoroeabk shall not in any way impair ar preclude the entoroemeat of the remaining pro+?isioos or portiow o[
this iastsamwt.
. j' 6PO 9~ 73! ~
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