HomeMy WebLinkAbout2012 6. That (a) in the event of any breach of this mortgage or default
on the part of the Mortgagor, or (b) in the event any of said suma of
money herein referred to be not pro~ptly and fully p$id within thirty
days next after the same severallp become due and payable, without demand
or notice, or (c) in the event each and every the stipulations, agree-
ments, conditions and covenants of said pramissory note and this mort-
gage, any or either, are not duly, promptly and fuZly performed, dis- ~
charged, executed, effected, comple~ed, complied with aad abided by,
then, in either or any such event, the said aggregate sum mentioned in
said promissory note then remaining unpaid, with interest accrued, and
all moneys secured herebq, shall became due and payable forthwith, or
thereafte=, at the option of said Mortgagee, as fully and campletely as
if all of the said scm~s of c~ney were originally stipulated to be paid
on such day, anything in said promissory note, and/or in this mortgage
to the contrary notwithstanding; and thereupon or thereafter at the
option of said Mortgagee, without notice or demand, suit at law or in
equity, theretofore, or thereafter begun, may be prosecuted as if all
moneys secured hereby had matured prior to its institution.
7. That in the event that at the beginning of or at any time pend-
ing any suit upon this mortgage, or to foreclose it, or to reform it,
and/or to enforce payment of any claims hereunder, said Mortgagee shall
apply to the court havin~ ~urisdiction thereof for the appointment of a
Receiver, such court shall forthwith appoint a Receiver of said mortgaged
property all and singu2ar, including all and singular the rents, incane,
profits, issues and revenues from whatever source derived, each and every
of which, it being expressly understood, is hereby mortgaged as if ~
apecifically set forth and described in the granting and habendum clauses
hereof, and such Receiver shall have all the broad and effective func-
tions and powers in anywise entrusted by a court to a Receiver, and such
appointment shall be made by such court as an admitted equity and a
matter of absolute right to said Mortgagee, and without reference to the
adequacy or inadequacy of the value of the property mortgaged or to the
solvency or insolvency of said Mortgagor and/or of the defendants, and
thst such rents, profits, incame, issues and revenues shall be applied
by such Receiver according tn the lien and/or equity of said Mortgagee ~
and the practice of such court.
8. It is understood and agreed that this mortgage is given to sec
in addition to the note or obligation above described any additional loa s
or future advances made within twentq years from date hereof by the mort~
gagee to said mortgagors or any successor in title of said mortgagors of
the property hereby conveyed; provided that the total unpaid balance of
the indebtedness secured hereby at any one time shall not exceed-the ~
maximum principal amount of 1W0 HUNDRED FIFTY THOUSAND DOLLARS.~~:,~
($250,000.00) , plus interest thereon and anq disbursem~ents . j ~~~;~`:1~. -
mortgagee for the payment of taxes, levies~ or insurance on ~ ~'~'ti~
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encumbered hereby, with interest on such disbursements. , s~
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IN WITNESS WI~REOF, the said Mortgagors have executed th3~~ i~ ~
under seal on the day and qear herein first above written. :,°ddo~
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Signed, sealed and delivered in E~A?RMAN OIL CO., INC. '
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G J s_W. Coffe , Pre ;
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~ ' Attest = d~;;:'«'-*:;~~,, J,
As to parties, Witnesses. Joe . arman, Secre '
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E H@iRY ~ Joe arman, President ~
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(Individual M~r~ s) s~ Q oe Hen E n, Secretary
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