HomeMy WebLinkAbout2728 9. Th~t ti the ptincipal or interest op tAe oote herein dexribed or ~ny part oi tha indcbtedaess saured hereb~r ;
or intereat theteon be aot paid when due. or it MortRaRor ahall fe?il to psy sny bxee. aaaeasments. chorgea. or impoer '
tions es the same become due aad pay~ble. or ii drfault De mado in the full and prnmpt periorm~nce of any oo~enant ~
or agreement herrin cont~?irted, or it ~ny procecdings bs in+titutcd to abate any nuieanee on the Mort~[sSed Premises ~
or if any pmeeedinqs be instituted which might result Lo ths detriment ot Lhe uae ~nd er~o~nnent of the premisea. or
if Mortgagor is adjudicated a bankrupt or insolvent, or ii any i~w? shall ba enscted os dccia~o~ rendend by sny oourt ~
of l~at resort im~poain~ •~yr tax os asse~me~t not no~r in effect upon this,mortgage. or the note aecured hereby. or !
any interest oi Mortgagce 3n tha Mortgsged Pnraises. os rendering iaopentive the undertskings oi ffiortgs~or to pay ;
al! taxes •riaing as a result ot this tnnaaction other than U?xes on ths i~terest income hereirom. or which reaulta ~
in the deductio~ iront value oi l~nd. for tax purpoees~ oi tha ~mount of any lien hereon. or altering the Lws for the
t~?xing of mortq~gra or debts secured thereby. or ii the Mortgagor. ~rithout first ob4ining tbe written oonaent oi the
Mortga8ee, ahsll gsant, bargain. aell or convay the MortgaRed Premiaea or ~ny part thereof. iacluding Limber. t}~er? on
the happening oi any one or more o! these avents. this co~veyanee ahall become absolute and ths arhole ind~ebtedness
eecured hereby ah~ll immediately b~eeome due ~nd pay~ble at the option of the Mortgagee and this mortgags may ,
thereupon be forecloeed for the whole oi ssid money~ intereat and costa. or Mortgagee may forecloss only aa to sums ~
past due without injury to this mortgage or the displacement or impairmer?t of the renuinder ot the lien thereof. and :
•t such loreelosuse ssle the property shall be eold subject to all remaining items of indebtedness ~nd the Hort~a~ee
may a~?ia forecloae in the same msnner ae oiten w there be ~ay aum paat due. :
10. Ii a! any time atter default by MortRagor a recei~erahip may be neceseary in the opinion of Diortgagee '
to protect the lien hereof. or ~?t the tima oi or niter the institution of su~t to collect the indebtedness hereby secured. ~
or to ioreclose thia mortgage. Mortgagee shall, as 4n admitted equity and ss a matter oi strict sight and regard-
less of the value ot the property. or the solvency or insolvency oi Mort~agor or sny party bonnd for the paya?ent
of tbe indebtedness have the ri~ht to ths appointmeni, on ex parte applicat~on and without notice to anyone~ by any ;
prnper court haring ~urisdiction. of a receiver. which receiver shall have ~U of the broad wud eifective powers •
and funct~ons in any aise entrusted by the court to o receiver. to take charge oi~ m~nage. preasrve. msintain~ care
for snd protect the Mort~taged~ Premises and to oollect rents. iaaues. proceeda~ produce. profit, income and revennes oi .
the Mortgaged Premisea irom whstwever eource derived; to make aU necessary or needful repairs and W pronide for ~
the Mortgaged Premises ss eet forth in parsgraphs 6 and 6 wbove. and to market the produeta lhereoi and receive
and oollect the proeeeds thereof and such receivarahip shall. at the optian oi Ddortga~ee. continus nntil the inll pay
ment oi all sums hereby sec~red. or uaW tiUe to the Mortgaged Premisea ahall have pas~ed on sale nnder • iore-
closurs of this most~age.
11. Should Mortgagor and Mortgagee hereafter enter into any agreement modifyring or chsnging the terros of
thia mort~[age or Lhe note secured hereby in any particular. the rights of the parties to suclt ~r6ement ~hall be superios
to the righb of tha holder of sny inter~eaing lien or encumbrance.
12. Without affecting the liability, of anypc rnon (other than a~?y peraon released punuant hereto) for payaaent oi ~
sny indebtedness secured hereby and anthout affecting the lien hereof upon sny property not raleaaed pnrsnant DareW.
i[ort~a~es may at any time an~ frora time to time~ without notice: -
Relesss any person liable ior payment of any indebtedness sec~red hereby.
(b) R~e
~ Lhe indebtedness. or a~ctend tbe time. or a~re~ to alter the terms. of poyment of any o! tbe indebt-
(c) Aceept ~dditional security oi any kind.
(d) Release any property seturing the indebtedness.
Conaent to the making oi ~ny map or plst oi !he Mortgaged Premsaes, or the ereation of any ea~emeab
thereon or any covenanta restricting use or occupancy Wereof.
;
18. Ii the indebtedness aeeured hereby is now or hereafter iurther secnred by chattel mortgages, pledges, oon- ~
tracts of gusranty, asaign menta~ of leases, or other securitiea. Mortgagee may at ita opt~on ezhauaL anq one or more
, oi said sec~ritiea and the aecnrity hereunder, either ooacurrendy or independently. and in snch order as it tnsy
deterwine. ' .
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' 14. No delay by Morlgagee in exerciaing any riRht or remedy hereunder. or otheraise afiorded by law. ahall
opente as a w~i~er thereoi or pzeclude the exerciss t6ereoi during the contiauance of any def~alt hereunder.
~ ~ 16. That the Mortgagor ahall permit the Hortgagee or its representatives to ea~smine and inapect the premisea
~ at any xssonable times.
~ This mortga~e shall inure to and bind the heirs. legatees, deviaeea. adminiatrators, executora. snoceasors ~nd
~ aasigns of the part~es hereto. Wherever used herein. the sinBular numbes ahall inelude tbe plural, the plural the
sin~ular, and _the use of any ~ender shall be spplieable to all gendera.
' ~ sball be snbrogated to the claims and liens of all partiea who~s clsiuu or liens are dia~har~'ad or ~
p~id~?~~:;oceed~ of the loqn ~ecured hereby. ~
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~f~.°~'~_~ ~H~~fiNESS WHEREOF, ~his mortgage has been duly executed by Mortgagor.
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`~>.~g~~~ ~~~led and delivered . . _
iri~~1+~°'~`resence of: E. C. & E. RANCHES (Seal) a co-partnership
B ~ ~ L~~..-~~ v~
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~ y Ead3ngton Fruit Co., a corp. Partner ~
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~ ,c-,.„e ~ (Seal) i
~ By
~ A a to C. & E. Ran e s Partne r .y
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~ (Seal) .
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~ Partne r ~
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~ (Seal) s'
~ Robe J. Cannon ; ;
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~ ~r L (.I /~i _ . ~ 7i- i (S@81~
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~ A to Robert J. Canno :a~d Bett B. Cannon ~
~ Betty B. Cannon ~181 PJI~~. ~~A ~3 ~
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