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HomeMy WebLinkAbout2409 orchards against loss or damagc by fice by makin$ and maintaiuing proper firebrealu on and around said prop- erty~ attd by keeping undergrow~th cut~ w the sahsfactioa of aecoad p~rty. First party will not top-work thegrove or orchard trees ~nnthout fust obtaining the writtea consent of second party : Second party ia hereby authoriud and unpowerod to have appsaisals of said pr~perty mmade by a I.and Bank appraiser. or by others~ at such times as sec- ond party. in its sote discretioa. may desue. The rnst of snch appraisals shall be paid by &rst party immediately upon presentation of su itemized statanent thereof and ahall be secured by this instrument. 6. Time is ot the essence of said note and of this instrument. If &rst party fails to comply with any covenant, condition or agreement in this instrucnent or in the said note or in any reamortization, renewal. defernunt. or ex- tension agreement. second party may. at its option. exercise any one or more of the foAowing rights. powers~ privi- leges, and remedies : (a) Perform any one or moro of the covenants of first party in this instrument and in the said note~ and all amounts advanced by seeond party in doing so shall be due and payable by first party to second partp immediately without notice, and shaU be secured by this instrument, and shall bear mterest from the date of advance by secocid party at the highest rate authorized to be charged under the ~ederal Farm I.oan Act, as amended. (b) Declare all aawunts secured by this instrument immediatdy due and payable without notice. ~ (c) Proceed immediately to foreclose this mortgage, and pursue such other remedies as may be authorized by law. 7, As further security for the payment of the note herein described and for the performance ot all the terau. condiNons, and covenants of said note and of this mortgage, first party hereby transfers, assigns, and sets over to second party all of the crops sown or groaring upon the sa~d mortgaged praruses at the time of filuig suit for fore- closure hereof and there~fter, and all of the rents. ~ssues, and profits of the said mort~aged ~remises unpaid and ua- collected at the time of filing suit for foreclosure hereof and thereafter. and upon fiUng su~t for foreclosure, or at any time then~fter, saond party shall be entided to have a receiver appointed to talce charge of the said mortgaged pranises and the crops sown or groW ing thereon, togetha with the said rents, issues, and profits arising there- from and henby ass~gned, and hold the same subject to the order and direction of the rnurt. 8, First Party covenants that he will not perform any act which might impair or tend to impair the continua- don on the property herein described of all crop allotments and acreage allotments no~v established or hereafter established on any of the property herein described. 9(a). In the event second party becomes a party to any legal proceeding (e:ccluding an action to foreclose this mortgage or to collect the debt hereby secured). ~nvotving this mortgage or the prem~ses described herein (in- ' duding but not limited to the tide to the lands described ab~ve), second party may also recover of first party all rnsts and expenses reasonably incuned by the mortgagee. including a reasonable attorney's fee, which msts, expenses and attorney's fee ~r•hen paid by second party shall become a part of the debt secured hereby and shall be immediatdy payable upon drniand, and shall dra~~ interest from the.date of advance by second party until paid at the rate of 6% per annum. 9(b). In the event said debt, or any part thereof, is established by or in any action for foreclosure of this mort- gag~. second parry may also recover of 6rst pnct3r, ~$dcktion tc~the said debi-orsa~ueh thereof ~s.~h~n t,~• yn~;~1. _ a reasonable fee for the attorney of second party for professional services rendered in such action, such fee to be incorporated in the decree of foreclosure in such action. . 10. First party shall hold and enjoy the said premises until defauit in payment of any of the instatlments as provided in said note or a breach of any of the rnvenants or rnnditions of said note or this mortgage shall be made ; ho~~ e~ er~ any agent or anployee of second parly or any person designated by second party may enter upon said premises at any time for the purpose of inspechng same or for any other purpose desired by second party. 11. All amounts that may hereafter be a~sarded for condemnation of, and waste and tortious injury to, am~ of the property henby arcumbered are bereby assigned and shall be payable unto second party for application, after payment therefmm of attoraey's fees and expenses incurred by first party and by seeond party in connection there- ~ H7th, on such part of t6e indebtedness sectued hereby as second party may determine, w~th no duty on second ~ ~ party to collect same. ` ~ 12. This instrument is subject to the I~ederal Farm I.oan Act and all acts amendatory thereof and supple- ` mentary thereto, aiid regulations issued thereunder. All rights, powers, privilcges, options and remedies and rights ~ a1loHed by law, may be pursued concunently, and shall extend to and may be exerc~sed and enjoyed by the suc- ~ cessors and assigns of second party, and by any agent, oa'icer, attornty or representative of second party, its successors or assigns. All obligations of, and assignments by, first party herein and hereunder shall extend to and ~ be binding upon the heirs, e.recutors, administrators~ successors, and assigns of first party. - ' i IN ~'VITNESS WHEREOF, first party has hereunto set hic hand and seal (and if first party is a corporation i it has rdused these pmsents to be e~ecnted and its corporate seal to be hereto afi'ixed b}~ its proper of~'icers thereunto ~ first duly authorized), this da~ and rear first abo~ e~vritten. - ' Signed, Sealed, and Delivered in the presence of: ~ . ~ ' ~ ~ - • .1 ~ SC ~L) ~ ~ ------------------------------------------------------------(s~ar.~ i s ------(SEAL) ~ --------------------~SEAL) . ~K167~.~~.~~-- --~S~A~.~ ~ ~ ; = , - _ . ~ ~ ~ ~ 3s^ "°s'4 ~ ~ _ ~w . _ .