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Home My WebLink About3990 note secured hereby on the principal thereof after default and rruturity, and an~ such s~uns so paid w+ith interest thercon shall constitute a lirn upon said premises and be secured by this mortgagt and in default of immediate repaymrnt thereof by the mottgagor after demand, the ahole indebtedness s~cured hereby shall at the option of the mortgagee bccome due and payable fodhwith ~rithout notice. NINTH: 11ut u further smirity for the paymrnt of said indebtcd~ess and the perfomunce of all of the terms, covrnants and condiNons hercof, the mortgagor does hereby mortgage. truufer, set over, assign and pledge to the mortgagee the lessor's interest and estate in all leases, ~nctuding but not limited to gu. oil and mi~eral leases, now or hereafter a(fecting the said ptemises or an~+ pad thereof, and all rents, issues, income, probts, roqaltia and bonuscs due and to become due there- unda, and in the evrnt of a default under any of the ternu, mvrnants and conditions of this mortgage the moctgagee is hereby authoriud and empow~ered to collect and receive all such rents, issua, income, pro6ts, royalties and bonuses due and to become due and to apply the same against uid indebtedness. So long, however, u there shall be no default hereunder the mortgagor shall have the tight to collect and receive any and all such rents, issues, income, pro6ts, royaltia and bonuses u they rapectively beeome due and payable, and to use thc sune without ucounting to the mortgagee therefoc. 'I'EN1'H: 'Il~at u further secvrity for the piymcnt of said indebtedness and the performince of all of the terms, covrnants and conditions hereof the moctgagor does hereby morigage, tnnsfer, set over, assign and pledge nnto the moctgagee alt citnu and other crops now growinR and hercafter grown on sa~d premises, hereby gi.ing and grantin~q unto the modRagee a 6rsi and prior lien therton, provided, however, that such lirn shall be and is hereby exprasly made sub~ett and subordinate to any crop moctgage mvering any citnu crops which corx into existcnce bv bloom prior to focrclosure sale u provided by this modgage or any annual crops planted prior to said foratosure sale, thc pro~•isions of paragraph Ele~~enth hereof not- w~thstanding. Any such crop mortgage shall not how•e~~er be a lien prior to this mortgage on any citnu crop coming into being by bloom subsequent to said focatosure sale, or on any annual crop planted subseyuent to said foreclosure sale. ELEVEIV'I'H: That the mortgagce may release for such considcration, or none, u it nuy require, aay portion of the above described land without, u to the remainder of the security, in anywise impairing or a(fecting the lirns and priorities herein provided for the mortgagee compared to any subordinzte lienholder. 1'WELFTH: The net proceeds of anv judgment, award or settlcment in any condemnation or other proceeding for any damaRe to the pmnises, buildings or other 6xtura therrnn shall be paid to the mortgagc~ and shall at its option, e~ther • s _r _ cJ L_~__.. ..a~ ~ ...7 ~1.~.. •~......1 ~n m~MM ~ _ _ _ _ _ _ _ ~ _ _ - _ _ ' _ - .a, ri ~j~ _ - - - - - - - - „ UC a~~~~fat a5 u~ic~3ia vii u~r tniiiivii iii Uic iii:~ ' ..r.~_~ in the future, or be released to mortgagor. ~ THIRTEENTH: 'Ihat if the mortgagor shall default in the performance of any of the covenants or agreemrnts herein ! contained, or if an owner of said premises shall 61e a petition secking an arrant~emrnt or composition or extrns~on or any ~ other relief under or punuant to the Fcderal Bankruptcy Act or any other similar statute u now or hereafta in effcct, or g shall be adjudicatcd bankrupt or insolvent or anv of his property shall have been sequestered and such decree shall ha~e continued undischuged and nnstayed for ninety days after the entry thereof, the entire indebtednas herebs secured, indud- F ing all payments for taxes, assessmrnts, insurance premiums, lirns, attorneys' fees and exprnses herein specified, shall, at the ~ option of the mortgagee, and without notice to the moriqat;or, be due and collectible at once by foralosure or otherwise; g and, except u to property whtre such ~rovision is prohibited by law, upon commrncement of any foreclosure or at any time ~ thereafter the mortRagee, u a matter of right, without consideration of the .alue of the premises, or whether the property ~ is probably insu(ficirnt to dixharRe the mortRage debt or is in danRer of beinR Icxt or removed or injured, and irr~spective ~ of the solvrncy or insolvrncv of the mortgaRor or the then owner of said premises, and without notice to the mortqagor or ~ anQ person claiminR under him, shall be entitled at once to the appointment of a recei~•er for said premises, to collect the ~ rrnts, issues and pro6ts therefrom during the pendency of such foreclosure, and the proceeds of said recei~ership shall be ~ applied bv uid receiver toward the paymrnt of the indebtedness secnred bv this mortRaRe, or toward the paymrnt of such ~ part of the judRtnent rrndercd thereon u mav remain unsatisfied after the sale of said premises, or to repay to the mortRagee anq advancemrnts which uid mortgagce rruy make after the commencement of foreclosurc action for rixes. assessmrnts. insutance or other charQa u herein prov~ded, toRether with interest thereon at the came rate u specifitd in said note secarcd ~ ~ hereby on the principal thereof after default and maturitv. and from the prrxeeds of said receivership said rereiver map make ~ neceuary repairs and keep said premises in proper condition and repair pendinR such sale, and pay all taxa and assessmrnts ~ ~ itcrued ot accruinq or redetm from sales therefor and pav insurance premiums necessary to keep said premises insured in , ~ ucordance with tht ptovisions of this mortgage, a~d pay other proper charges as herein provided, and piy the exprnse of the receivership. ~ FOURTEEIVTH: In case this mortRaRe be forecloseci by a suit in equity and the mortqaged premises be sold to satisfy a decree of foreclosure, the prcxeeds of such sale sh~?II be applied as follows: First. to the exvenses incurrr.d her~vnder; =~3 second, to a reasonable ~ttornev's fee for such san•ices as m~y Ix necessarv for the collection of said indcbtednrss and the foreclosure of this mortgaRe; third, to the pa}~ment of whate~~er sum or sums the mortqa~ee may have paid oc becrme liable to pap in carrying out the terms and stipulztions of this mortqage, to~ether with interest thereon: and finallp tn the pa~rnent and satisfadion of said note. The balance, if any, shall. unless the Court decree otherwise, be paid inta the registry of the Court having jurisdiction of said foralosure suit, to abide the further order of said Court. FIFTEENTH: 'Ihat the mortgaqor is lawfull~ seized of said premises in fee simple and has Rood ri¢ht and lawfu) ~ authotity to sel) and convtq the same, that the same are frce from encumbrances eacept as aforesaid. that it shall be lawful for the mortgapee at all tima, peace~bly and quietly to enter upon, hold, occupy and enjoy said premises and e~erv part thereof, ;4~ that the mortRap,or will exerute or procure anv further necessat~ usurances of title and does herebv fore~~er warrant qrntrallv - the title to said premises and will fore~•er defend the same aqa~nst the claims and demands of all persons whomsoe~•er, and ~ the mortgagor and the makers of said note esprcially aqree and declare ?hat the separate estate of each of them, whether vested, continRent or in exp~ctancv, is hercby conveved and sh~ll be bound for the pavment of the debt hereby secured and each docs k~: hereby exprasly waive, releax and relinquish all riRhts and bencfits of any homestead, appraisement, exemntion or stay to which they miy be entided under the laws of the state in which said premises are situate, together with all dower or curtesy riRhts, anJ all intcrests znd cstates, statutor}~ and otherw~isc and ~f c.er~• nature ahatxrcccr ~n and to said premises. SIXTEENTH: 'I~at the Riving of written notice addressed to the owners of record of said premises or addrased to the said owners at theit lut address actuaUy fumished to the mortgagee, or addressed to the owne~~~id premises, and ~oer ~~9 ~c.~~ ~Y. ~ - z ~ ~ ~Y, , ~ , . r~ . , . . _ _ . _ ~ . _ ~