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HomeMy WebLinkAbout2851 e ~ i•!? a7t1~t . . _ . . . . ~ S -T ' - -Z.T. Y 2 . _ . . . . v . . . orchards against lou or daawge by fin by makin~ aud maintaiuiag proper &rebreaks oa aud arouad said prop- erty, and by kapii~g uudergrowth cut, to thc sahsfactioa of seaond party. ~usi psrty ~rill not Mp-work theg~ove or orchard trees without first obtaining the writtea rnaseat of sccond party. Second party is hereby autborized and empowerad m ha~~eappraisals of aaid p made by a I.and Bank appraixr. or by othera, at such times aa sec- oad party. In its sole discretioa. may desi~ cost of such appraisnls ahall be paid by first party immediately upoa presentation of an itaaued statanent thereof and shall be secured by this instrumeat. - 6. 'rime is of the essence of said note aad ot this instnunent. If first party faifs to ooatply with any coveaant. condirion or agrecment in this instru~neat or in the said note or in any reamortization, renewal, defernxnt, or ex- trnsion agreemrnt, seaond party may~ at ib option, exercisc any one or more of the foUowing rights, powers. privi- leges. aad mnedies: (a) Perform aay one or more of the covenants of first party in this instrumeAt and in the said note, and all amounts advanced by seoond party In doing so shall be due and payable by first party to second party immediately without notice. and shall be sccured by this instrument, and shall bear interest fmm the date of advance by se~ond party at the highest rate authorized M be charged under the Federal Farm I.oan Act. as amended. (b) Declare all amounts saured bp this instrument immediately due and payable without notice. (c) Pro~~eed itacmdiatdy to foreclose this mortgage~ and pursue such othet remedies as may be suthorized by law. 7, As further security for the payment of the note herein dacribed and for the performana of all the ternu. conditions. and rnvenants of said note and of this mortgagr~ first party haeby transfers, assigas, and sets over Lo sernnd party all of the crops sown or growing upon the said mortgaged praneses at the time of filiug suit for forr closurr hereof and thereafta, and all of the reats, issues, and pro6ts of the said mortgaged ~resniscs unpaid and ua- coUected at the time of filing suit for forcclosun hereof and thereafter~ and upon fiUng su~t for foreclosnn, or at any ti~m thereafter. second party shall b~ entitled to have a receiver appointed to take charge of the said martgaged premises and the crops sown or ~rawiag there~on. together w4th the said rents, issues, and profits arising thero- from and hereby assigned. and hold the s~une subject to the order and direction of the court S. First Party rnvenants that he will not perform any act ~+hich might impair or tend to impair the continua- tion on the property herein described of all crop allotments and acreage allotments now established or hereafter established on any of the propercy herein dexribed. 9(a). In the event second party becanes a party to any legal proceeciing (ercluding an action to foreclose this nx,rtgage or to collect the debt hereby secured)~ ~nvol~ing this nwrtgage or the prem~ses described herein (in- cluding but not limited to the tide to the lands described above), second party may also recover of first party all costs and expenses reasonably incurrc~ci by the mortgagee, including a reasonable attorney's fee, which rnsts, e.rpenses and attorney's fee hen paid by second part3 shall become a part of the debt secured hereby and shall be immediately payable upon deniand. and shall dra~r interest from the date of advance by second party until paid at the rate of 6 Jo per annum. 9(b). In the event said debt, or an} part thereof, is established by or in any action for foreclosure of this mort- gage. second part}+ may also rerover of first party, in addition to:the said debt or so much thereof as shall be unpaid, a reasonable fee for the attorney of second party for professional sen+ices rendered in such actioa, such fee to be incorporated in the decree of foreclosure in such action. 10. First party shall hold and enjoy the said premises until default in pa}~nent of any of the installments as pt+ovided in said note or a breach of aay of the rnvenants or conditions of said note or this mortgag~e shall be made ; hovrever. any agent or employee of second party or anq person designated by saond party may enter upon said premises at any time for the pur~~o6e of inspecting same or for any other purpose desired bq second party. 11. All amounts that ~say h~*eafter I~e a~carded for condemnation of, and ~vaste and torrious injury to, an? of ihe property hertby encumbered are hereby assigned and shall be payable unto second party for application~ after pavment therefrom of attornty's fees and e~penses ~ncurred by first party and by second party in rnnnection there- with, on such part of the indebtedness secured hereby as second party may determine, with no duty on second party to cotlect same. ' 12. This insttument is subject to the Federal Farm Loan Act and all acts amendatory thereof and supple- mentary thereto, and regulateonc issued tl~ereunder. All rights. powers, privileges, options and remedies and rights allowed bp law. may be pursucd concurrently, and shall e.~tend to and may be exercised aad enjoyed by the suc- cessors and assigns of second party, and Sy any agent, oflicer, attorntq or repr~entative of seoond party, its f successors or assigns. AiI obligations of, and assignments by, 6rst pariy herein and htreunder shall actend to and ( be binding Lpon the heirs, execators, administrators, successors, and assigns of first party. IN WITNESS t~VHER~OF, fcrst party has hereunto set his hand and seal (and if first party is a corporation ~ it has caused these pmsents to be execnted and its corporate seal to be hereto afi'ixed by its proper of~icers thereunto ~ first duly authorized), this da~ and }•ear 6rst abc?~e ~~ritten. ' Signed, Sealed, and Deiiverecl in the presence of: ~ ; ~ ~ ' ~ ~l<L~•~.~~~ ~ ~ a~. ? , - . . - ~ ~-~1,Q,w ---~c~_ --cs~~~,> __(SEAi,I i ---------------•---------____(SEAL) . ____---------------------------------(SEAL) ' - ___---------------------------------___(SEAL) ~ . 3 . . . . _ ~K169 ~~832 .