Loading...
HomeMy WebLinkAbout0198 ' . • ~ , growing upon the said mortgaged premises at the time of filing suit for foreclosure hereof and thereafter, and aU of the rents, issues, and profits of the said mortgaged premises unpaid and uncoUected at the time of filing suit for foreclosure hereof and thereafter, and upon P~ing suit for foreclosure, or at any time tl~ereafter, second party shall be entided to have a receiver appointed to take charge of the said mort~age premises and the crops sown or gcowing thereon, together with the said rents, issues, and profits arising therefrom and hereby assigned, and hold the same subject to the order and d'uection of the court. 10. First party covenants that he will not perform any act which might impair or tend to impair the continuation on the property herein described of all crop allotments and acreage allotments now established or hereafter established on any of I the property herein described. 11(a). ln the ev~ent second party becomes a pazty to any legal proceeding (excluding an action to foreclose this ~ mortgage or to coUect the debt hereby secured), involving this mortgage or the premises described herein (including but not limited to the title to the lands described above), seoond party may also recover of ~rst party all costs and expenses ~ reasonably incurred by the mortgagee, including a reasonable attorney's fee, which costs, expenses and attorney's fee when ~ paid by second party shall become a part of the debt secured hereby and shaU be immediately payable upon demand, and I shall draw interest from the date of advance by second party until paid at the highest rate provided in any note or other ~ instrument secured hereby. 11(b). ln the event said debt, or any part thereof, is established by or in any action for foreclosure of this mortgage. second party may also recov~er of t'ustpa rty, 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 services rendered in such action, such fee to be incorporated in the , decree of foreclosure in such action. ~ 12. First party shall hold and enjoy the said premises until default in payment of any of the installments as provided in said note or other instrument secured hereby or a breach af any of the covenants or conditions of said note or other instrument secured hereby or this mortgage shall be made; howevcr, any agent or employee of second party or any person I designated by second party may enter upon said premises at any time for the purpose of inspecting same or for any other i purposes desired by second party. ~ 13. All amounts that may hereafter be awarded for condemnation of, and waste and tortious injury to, any of the ~ property hereby encumbered aze hereby assigned and shall be payable unto second party for applicadon, after Fayment : therefrom of attorney's fees and expenses incuaed by first party and by second party in connection therewith, on such part ~ of the indebtedness secured hereby as second party may determine, with no duty on 9eoond party to collect same. ; 14. First party agrees as a condition hereof that all ob6gations, assignments, releases of real property and/or personal ~ liability, reamortizations, renevraLt, deferments, extensions or any other agreement, in writing, made by any one or more of the parties herein designated as first party with second party aze hereby authorized and consented to by all parties herein i designated as fust party and shall extend to and be binding upon the heirs, executors, administrators, successors and assigns of all the parties herein designated as first party. 15. First party agrees~as a condition hereof that if a conveyance should be made voluntarily by fust pazty (or by any one or more of the pazties designated herein as }'irst party) of any tide or interest in and to the real groperty described abov~e, , or any part thereof, without the written consent of the lawful holder of this mortgage, or if such tide or interest of first party (or of any one or more of the parties d~ated herein as.first party) is imroluntar~y conv~eyed or transfened as the result of foreclosure of a junior lien or is required under court order or decree as the result of litigation (oonveyance or transfer of tide or interest resulting from death of first party, or any of the fust parties, if more than one, excepted), without the written consent of the lawful holder of this mortgage, then and in either of said events~ and at the option of said holder, and without notice to the first party, all sums of money secured hereby shall become due and payable and in default immediately and concunendy with such conveyance or transfer, whether the same aze so due and payable and in default by the specific terms hereof or not. ~ 1G. This instrument is subject to the Federal Fazm L,oan Act and all acts amendatory thereof and supplementary thereto, and regulations issued thereunder. All rights, powers, privileges, options and remedies and rights allowed by law, may be pursued concurrently, and shall extend to and may be exercised and enjoyed by the successors and assigns of second party, ' and by any agent, officer, attomey or representative of second party, its successors or assigns. All obligations of, and assignments by, fust .party herein and hereunder shall extend to and be binding upon the heirs, executors, administrators, successors, and assigns of first party. . I ' SEE PARAGRAPH BELOi~i. ! ~ IN WITNESS WHEREOF, fust party has hereunto set his hand and seal (and if first party is or includes a ~ ! corporation it has caused these presents to be executed and its corporate seal to be hereto aft`ixed by its proper officers ~ ; thereunto fust duly authorized), this day and year fust above written. ~ ~ Signed, Sealed, and Delivered ~ in the presence of: I ~ . l (SEAL) ~ ~ ; yi ~ ~/1 ,GG~ ~~j:C.~ .+C_~-I ~.'~.~,c=~t~ (SEAL) (SEAL) ~ (SEAL) ~ (SEAL) ~ (SEAL) I ; 17. ! ; ~ Firat party will comply with all the terms and conditions of any inetru- ~ ; ment heretofore or hereafter executed bq first partp in connection with the loan ~ secured by this security inatrument. ~ ~ ~ , ~ ~Y. - ~ ' ~~07 ~ 198 ; i ' I- - ~