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Home My WebLink About1588 9. That ii the principal or interest on the note herein describe~i or any pArt of the indebtednena eecured hereby ur intereat thercon be not paid when due, or if Mort~aRor ehsl; fail to pay any ta?xes, asaessmenta, ch~r , or imposi- ? tions sa the aame become due •nd~ayable, or if d+efault be made in the full and prompt perfornsance o any eovensnt ' or agreement herein contained, or any prc~ceedinge be in~tituted to abate any nuisunce on the MortxaQed Prernises or if any proceedinQs be instituted which rnight result to thQ detriment of the use and enjoyment of the premiats, or if Mortgagor ie adjudicated a bankrupt or insolveni, or if ~ny law shall be enacted or decision rendered by any court of last resort impo~ing any tsx or nasessment not now in effect upon this mortgage, or the note secured henby, or any intererit of Mortgagee ~n the Mortgaged Prernises, or rendering inoperative the undertakinga oi Mortga~or to pay a!1 taxes arising as a result of this trnnsaction other than taxes on the interest income herefrom, or wh~ch reaulte in the deduction from valuc ot land, for tax purposes, of the amount of any lien hereon. or Altering the IAW9 far the taxing of mortgages or debts secuted thereby, or it the Mortgagor, without firet obtaining the written conaent of tho Mortgagee, shall grsnt, bargain, sell or convey the Mortga~ed Premises or any part thereof, including tinfber, then on the happening of any one or more of theae event~, this conveyance shall become absolute and the whole ind'ebtedneas secured hereby shall immediately become due and payable at the opti~n of the Mortgagee and thie mortga~e may thereupon be foreclosed for the whole oi said money, interest snd costa, or Mortgagee may forecloae onlq ra ta auma past due without injury to this mortgage or the displacement or impairment of the remsinder of the lien thereof, tnd at such foreclosure sale the property shall br sold subject to all remaining iterns of indebtednena and the Mort~t?teee ; may aguin foreclo~e in the same manner es oiten as there be any sum paat due, 10. If at any time after default by MortRagor a receivership may be necessary in the opinion of Mortgagee to protect the lien hereo!, or at the time of or sfter the institution oi auit to collect the indebted~esa hereby secnred, or to foreclose this mortgrge, Mortgagee shall, as an admitted equity and as a matter of atrict right and regard- less of the value of the property, or the eolvency or insol~~ency of Mortgagor or any party boand for the psytttettt of the indebtedness have the right to Lh~ appointmer.t, on ex parte application and without noti~e to anyone, by sny i proper court havir.g jurisdiction, of a receiver, which receiver shall have all of the bmad and etfective powere and functions in atty wise entrusted by the court to a receiver, to take charge of, manaRe, preserve, maintsin, care for and protect the Mortaaged' Premiaes and to collect rents, issues, proceeds, produce, p~rofit, inco~e snd revenuen oi ~ the Mortga~ted Premises trom whatsce~•er source derived; to make all necessary or needful repaira and to provide for the Mortgaged Premises as set forth in paragraphs 6 and 6 nbo~~e, and to market the producta thereof and receive and collect the proceeda thereof and such receivership shxll, at the option of biortgagee, continue until Lhe full pay- ment oi all sums hereby secured, or untii title to the Mort~aged Premises shsxtl have psssed on sale under ~ fore- closure of this mortgage. f i 11. Should MortRxgor and Mort agee hereafter enter into any agreement modifying or changing the terms of ` lhis mort~age or the note secured here~y in anv particular, the ri~hts of Lhe parties to such agreement ahall be superiar ~ to the righ~s of the holder of any intervening lien or encumbrarue. 12. V1~'ithout affecting the liability oi any icrson (other than any pe•-tson released pursusnt hereto) for payment uf auy~ indeotedness secure:i hcreby, and without a~fecting th~ lien hereof upon any praperty not released pursuant hereto, hiortqagee may at any time and from time to time, withou: notice: ____--{s~-Ite ease any person liable for payment of any indebtedness secured hereby. ~ J (b) Renew the indebtedness, or extenci the time, or agree Yo a~ter the terms, of pay~nent of any of the indebt- ~ ed r.ess. ~ E (c) Accept additional security of any kind. ~ (d) Itelease any property securing Lhe indebtedness. (e) Consettt to the making of any map or plat of the Mort~a~ed Premises, or the creation oi any es?aements ± thereon or any covenants restricting use or occupancy~ thereof. ~ 13. If the indebtedness secured hereby is nvw or hereafter further secured by chattel mortgages, pledges, con- ~ tracts of guaranip, assiRnments of leases, or other sezurities, :~iortRagec may~ at its opti~r~ exhaust any one or more ~ of said securities and the security hereunder, either concurrcntly ar Independantly, and in surh order as i~ may ; determine. ~ 14. No delay by Mortgagre in ex.ercicin~ any ri~ht at remed~• hereunder, or otherwise afforded by law, shall ~ operate as a waiver thereof or predude the ezercise thereof during the continuance of any default hereunder. ~ lb. That the Mortgagor shall permit thc Mortgagee or its representxtives to examine and inspect the premises g at any reasonable times. ~ ~ This martgage shall inure to and bind the heirs, le~atees, devisees, administratora, executors, ~uccesaors and s assigns of the parties hereto. Q4'herever used herein, the singular number shal! incDude the plural, the plural the singular, and the use of any gender anall be applicable to sll genders. Mortgagee shall be subrogate~3 to the claims and liens of all parties whose cinims or liena are diachss~ed or psid with the proceeds of the loan secured hereby. IN WITNESS WHER~OF this mortgage has been duly executed by Mortgagor . Signed, sealed and del.ivered The Estate of Thomas ,T. Eadington - in the pxesence of: ~ ~ By : r . , i.x / F•AL) - - - . n ~ _ .~~,~,d~-' (~0 ~ ~o~~..~...~1 ~e~ ~ . F~L' ~ ; nald A. ollins ~ C~n?+...~...t~' ~o~-- % ~ ~'~1'AT•~ i o h ' ~ Del ine W Co i,ns ~ (gg.~j . G-r-1 ~r a<! ng g~ d,_._. ( S FA~L ) ~ ~ ma . a ng Qn ~ Indivzdually ancl as Co-Partners d/b/a E. C. & E. Ranches i~-~~sww~~d`~ , C:, ` ( S~ EA.I., ) ~ nneth Wagge • `h~ ~ ~ ~ ~ ` t seal ) Winif d Waggener ~ ~ n ' + rn, .~.~-~~~'a~', . l/ ~ ~ ~t~~ Frank M. Del Giargia ° ~ 1 L_`d_°l. ~ . ~ ~ ~ - ~1~.~ _ . 1c~~ (S~I'j ~ /,~-'F'1-~ ~.~r3ad~l~J ~ r ~adels~ Q~ pe/. Giorgio 50i!r J'Ja.