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HomeMy WebLinkAbout0734 ~~~3~ S~3d 3. The mortgagor covenants and agrees that i[ he shall fail to pay said indebtednes. or att~~ part thereof when due, or shall [ail to perform any covenant or agreement of this Itutrument or the promiswry note secured hereby. the entire indebtedness hereby secured shall immediately becotna:due, payable, and collectible without notice, at the option of the mortgagee or assigns, regardless of maturity. sad the mortgagee or his assigns Wray before or alter entr~• seU said property without appraiaement 1 the mortgagor havldg waived and aasiKned to the mortgagee all rights of appraisement) : 1 t) at judicial sale pursuant to the provisions of Z8 U.S.C. 2001 t a ? ; ur (tt) at the option of the mortgagee, either by auction or by solicitation of sealed bids, for the highest and best hid complying with the terms of sak and manner of payment sped&ed in the published notice of sale, Srst . giving [our weeks' notice of the time, terms, aitd place of such sale, by a~lvertirentent not law than uttce daring each of said four weelu in a newspaper published or distributed in the county in which said property is situated, all other notice being hereby waived by the mortgagor (and said mortgagee, or any person on behalf of said mortgagee, may bid with the unpaid indebtedness evidenced by said note). Said ule shall be held at or on the property to be sold or at the Federal, county, or city courthouse for the county in which the property is located. The mortgagee is hereby authorised to etiecute for and on behalf of the mortgagor and to deliver to the purchaser at such sale a suicient conveyance of said property, which conveyance shall contain recital as to the happening of t~ ~tDn which the execution of the power of sale herein granted depends; and the said mortgagor hereby constitutes and appoints the mortgagee or spy agent or attorney of the mortgagee, the agent and attorney in fact of said mortgagor to make such tbcia4 sad to• execute acid conveyance and herby ooveaants and agrees that the recitab so made shall be effectual to bar all equity or right of redemption, homestead, dower, and all other exemptions o[ the ntortRaRor, all of which are liereb~ expressly waived and conveyed to the mortgagee; or (tttl take any other apprvpriate-s4ction pursuant to state or L'ederal statute ritl~er in state ur !'edrral rnurt or otherwise for the disposition of the property. In the event of a sale as hereinbefore provided, the mortgagor or any persons in possession Hader the mort- gagor shall then become and be tenants holding over and shall forthwith deliver possession to the purchaser at such sale or be summarily disposseaaed, in accordance with the provisions of law applicable to tenants holding over. The power and agency hereby granted are coupled with an interest and are irrevocable by death or otherwise, and are granted as cumulative to the remedies for collection of acid indebtedness provided by IaM. ara a lu shall be a lied first 4. The proceeds of any sale of satd property to aocordaace wtth the P~mg P ~ P PP to pay the Qosts and expenses of said sale, the expenses incurred by the mortgagee for the purpose of protecting or main- raining said property, and reasonable attorneys' fees; secondly, to pay the indebtedness secured hereb~~; and thirdly, ' to pay any surplus or excess to the person-or persons legally entitled thereto. f S. In the event said property is wld at a judicial foreclosure sale or pursuant to the power of sale hereinabove granted, and the proceeds are not su~cient to pay the total indebtedness secured by this instrument and evidenced by i raid promissory note, the mortgagee will be wtitled to a deficiency judgment for the amount of the deficiency without regsvd to appniseynent. - i t r 6. In the event the mortgagor fails to pay any Federal, state, ur local tai assessment, income tax or other tai lien, charge, fee, or other expense charged against the property the mortgagee is hereby authorised at his option to pay the same. Any sums so pod by the mortgagee shall be added to and become a part of the principal amount o[ tltc indebtedness evidenced by said note, subject to the same terms and conditions. If the mortgagor shall pay and j discharge the indebtedness evidenced by said promissory note, and shall pay such sums and shall discharge all razes and liens and the costs, fees, and expenses of making, enforcing, and a:ecnting this mortgage, then this mortgage -hall be canceled and snrrcadered. 7. The covenants herein contained shall bind and the benefits and advantages sleall inure to the rrwl?rctivr suc- censors and assigns of the parties hereto. ~ltenever wed, the singular number shall include the plural, the plural the } { singular, and the one of any gender shaq include aU genders. 8. No waiver of any covenant herein or of the obligation secured hereby shall at an. time thereafter br held to be a waiver of the terms hereof or of the note secured hereby. 9. A judicial decree, order, or judgment holding any provision or portion of this iur"trument invalid ur uncm i forceable shall not in any way impair or preclade the enforcement of the remaininE I~roviaions or Iwrtions of this instrument. f 3 10. Any written notion to be issued to the mortgagor purwant a the provisions of tbi. instrument Shan be ad• dressed totbwrtsortga~gorat 5300 Oleander Avenue, Fort Pierce, Florida 33450 and any written notice to be iswcd to the mortgagee shall be addressed to the mortgagee at 300 South Sixth Street, Fort Pierce, Florida 33450 BrAK ~4 PdGE ~4 02..2.. SBA FORM 92B (2-'73)