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HomeMy WebLinkAbout4169 aote secuir~ hereby on the principal thereof after defauk and maturity, and any such sums so paid w~ith inte~est thereon shall coastitute a lirn upon said premises and be securcd by this mortgage and ~n default of immediate repaymrnt thereof by the mortgagor after dtmand, the whole indebtedness secvred hereby slull at the option of the mortgagec betome due and pay~ble forthwith without notice. IVIN1'H: 'll~at u fuKher security for the paym~nt of said indebtedn~ss and the performance of all of the terms, co~enants and condiNons hercof, the mortgagor does hereby mortgag~, transfer, stt over, ass~gn a~d pledge to the mortgagee . the lessor's interat and atate in all leases, including but not limitcd to gu, oil and mineral leases, now or herrafter aHecting the said premises or anr part thereof, and all rents. issues, income, pro6ts, royalties and bonuses due and to become due thcre- under, and in the tvrnt of a default under any of the terms, covrnants and conditions of this mortgzge the mortgagee is hereby authorized and empowered to coilect and receive all such nnts, issues, income, pro6ts, royaltia and bonuses due and to become due and to apply the same against said indebtedness. So long, however, u there shall be no default hereunder the mortgagor shall have the right to collect and tec~ive any and all such rtnts, issues, income, probts, royaltia and bonuses as thry rapectively bttome due and payable, and to use the same without aaounting to the mortgagce therefor. TENI'H: 'Il~at as furtt~er serurity for the pavment of said indebtedness and the performance af all of the temu, covrnants and conditions haeof the mortgagor does herebq mortgage, transfer, set over, assign and piedge unto the mortgagce all citrus and other crops now groainR and hereafter grown on said premises, hereby gi~ ing and grantinq unto the mortRagee a 5nt and prioc lirn thereon, provided, however, that such lirn sh~ll be and is hereby expressiy made sub~ect and snbordinate to an~r crop mortgage rnvering any citnu crops which cor ~e into existcnce bv bloom prior to foreclosure sale as provided b}. this mortgage or any annual crops planted prior to said foreclosure sale, the prorisions of paragraph Ele~•enth hereof not- w•~thstanding. Any such crop morigage shall not how•e~•er be a lien prior to this mortgage on any cdrus crop coming into being by bloom subsequrnt to said foreclosure sale, or on any annual crop planted subsequent to said foralosure sale. ELFVEIV'I'N: 1'hat the mortgagee may relcase for such consideration, or none, u it may tequirc, any portion of the above desuibed land without, u to the remainder of the security, in any~wise impairing or affecting the firns and prioritia herein provided for the modgagee compared to any subordinate lienholder. TWELF'TH: 'I~e net pcoceeds of anv judgment, award or settlement in any condemn~tion or other proceeding for any damaRe to the premises, buildings or other fixtures thereon shall be paid to the mortgagee and shall at its option, edher be applied u a credit on anq podion of the unpaid balance of the note sec~red hereby, whether thrn matuced or to mature 'i in the future, or be relcascd to mortgagor. j THIRTEENTH: 'I~at if the mortgagor shall default in the performance of any of the covrnants or agreements herein i contained, or if an owner of said premises shalt file a petition seekinR an arranqement or composition or extension or any t other relief under or pursuant to the Federal Bankruptcy Act or any other similar siatute as now or hereafter in effect, or ; shall be adjudicated bankcupt or inwlvent or anv of his property shalt have been sequatered and such decree shall have continued undischarged and unstaped for ninety days after the entry thereof, the ent~re ~ndebtedness herebp serured, includ- ~ ing all payments for tues, usessments, insurance premiums, liens, attorneys' fees and expenses herein speci6ed, shall, at the ° option of the mortgagee, and withoat notice to the mortRaqor, be due and collectible at once b~ foreclosure or otherwise; ~ and, txcept u to propeety where such }~rovision is prohibited by law, upon commrncement of anp forcclosure or at any time therrafter the mortgagee, u a matter of right, without consideration of the .alue of the premises, or whether the propertf ~ is ptobablP insufficient to discharQe the mortRaRe debt or is in danJ;er of beinR lost or remo~•ed or injured, and irrespect~ve of the solvrncy or insolvencv of the mortgaRor or the then owner of said premises, and without notice to the mort~aRor or ~ ano person claiminq under him, shall be rntitled at once to the appointment of a recei~•er for s3id D~~~ses. to collect the ~ rrnts, issues and pro6ts thetefrom during the pendency of such foralosure, and the proceeds of said recei.ership shal) be a applied b~ said receiver toward the paymrnt of the indebtedness secured bv this mortRage, or toward the payment of such ~ part of the judRment rrndered thereon u mav remain unsatisfied after the sale of said premises, or to repay to the mort~Ree anv advancemrnts which said mortgagce may make aft~r the commencement of fareclosure action for taxes. assessments, ~ insurance or other charqes u herein provided, toRether with interest thereon at the same nte as specified in said note secured ~ herebp on the principal thereof after default and maturin. and from the prexe~ds of said receivership said recei.er maq make ~ necessaro repairs and ktep said premises in proper condition and repair pendinR such sale, and pay all taxa and assessments acccutd or accruinq or rtdeem from sales thtrefor and pav inwrance premiums necessary to keep said premises insured in - accordance with the provisions of this mortgage, and pay other proper charRes as herein pro~•ided, and pay the expense of ~ the receiveahip. a - ~ FOURTEENTH: tn case this mortqaRe be foreclosed by a suit in equit~ and the mortqaged premises be sold to satisfy a decree of foreclosure, the prcxeeds of such sale sh~ll be applied as follows- First, to the exoenses incurred hereunder, second, to a reasonable attornev's fee for such ser.~ices as m~~• be necessan for the collection of said indebtedness and the foredosure of this mortgaRr third, to the pa}ment ~f a•hate.~er sum or sums the mortqa,~ee ma~ have paid or become ~ liable to pay in carryinq out the terms and stipulations of this mortqage, to~ether with interest therrnn: and finally to the . pa~mrnt and satisfaction of said note. The balance, iE any, shill. unless the Court decree otherwise, be paid into the registry of the Court having jurisdiction of said foreclosure suit. to abide the further order of said Court. - FIFTEENTH: 'Tl~it the mortgaqor is lavvfull}• seized of said premiscs in fee simple and has Rood riqht and lawful authority to sell and convey the same, that the same are free from encumbrances except as aforesaid. that it shall be lawful for - the mortgagee at all timts, peactably and quiedv to enter upon, hold, cxcupy and enjoy said premixs and e~en part thereof, '`4 th~t the mortRagor will e~cecute or procure anv further necessary assurances of tide and does herebv fore~er warrant Renerallv the tide to said premises and will fore~•er dtfend the same aqainst the claims and demands of all persons whomsoe~er, and the mortgagor and the makers of said note especially aQrce and dedare ?hat the separate estate of each of them, whether .~ested, continqent oc in expectancv, is hereby con~eyed and shall be bound for the pa~~rnent of the debt hereby secured and each does heteby ehcpressly waive, release and relinquish all riRhts and benefits of any homestead, appnisement, exemption or stay to t~, which they may be entitled under the liws of the state in which said premises are situate, together with all dower or curtesy rights, anJ all interrsts and cstates, statutoty~ and utherv?~isc and ~f c.ery naturc whaturr~•cr in and tu said ~rem~scs. SIX'I'EEIV1'H: That the Ri~ing of written notice addressed to the owners of record of s~id premises or addr~ssed to the said owners at their lut address actually furnished to the mortgagec, or addressed to the owners at said premises, and ~:~f,(.rL1~J ~ _ ~ 'e :a__.~_,.~;: ~ - ~ ~ ~