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HomeMy WebLinkAbout2573 ~ ~i ~ _ . - - - - - . - _ ; growing upon the said mwtgaged premises st the tlme of fding suit for forecloaure hereof ar?d thcreafter, and all of thc rents, i ~ issues. and profits of the said martg,aged Qrenuses unpaid and uncollected at the tinx of filing suit for fo~ectusure hereof and ' thereaRer, and upon filing suit for foreciuwro, or at any time thereafter, secund party s1~aU be entitled to have a rece~ver appuinted to take ci~arge of the raid mortgage prenuses and the crops sown or grow~ng thereon, togcthe~ with the said rents. ' issues, and pro~ts arising therofrom and hereby assig~ud, and hold the same subject to lhe order a~d direction ot the court. i 10. First party covenants tlut he will not perform any act which might impair or tend to in~pair the continuatiun on th~ property herein described oi all crop allotn~ents and acrcagc allotments now establisl~ed ur hereafter established on any of ~ die pcoperty herein described. Il(a). In the ev~ent second party becomes a party to any legal proceeding (excluding an action to foreclose this mortgage or to collect the debl hereby secured), invulving ihis mortgage or the premises desrribed herein (including but not I limited to the title to the tands described above), second parry may also recorer of first party all costs and expenses ; reasonably incurred by the mortgagee, including a reasonable attorney's fee. which costs, expenses and attorney's Cee when , : paid by second party shall become a part of the debt secured hereby and shal) be immediately payable upon demand, and ~ shaU draw interest from the date of advance by second party until paid at tl~e highest rate provided in any note or other ° ; instrument secured hereby. ; ~ 11(b). !n the event said debt, or any part lhereof, is established by or in any action Cor foreclosure of this mortgage. i ` second puty may also recover of fust party, in addition to the said debt or so much thereof as shall be unpaid, a reasonable ~ fee for the attorney of second parry 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 un~il deCault in payretent of any of the installments as provided j ~ ~ in said note or other instrument secured hereby or a breach of any of the covenants or conditions of said note or other instrwnent secured hereby or this mortgage shall be made; howev~er, any agent or employee of second party or any person I ~ designated by s~cond 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 ot, and waste and tortious injury to, any of the property hereby encumbered are hereby assigned and shall be payable unto second party for application, after payment ~ therefrom ot attomey's fees and expenses incurred by first party and by second party in connection lherewith, on such part of the indebtedness secured hereby as second party may determine, with no duty on second party to collect same. : 14. First party agcees as a condition hereot that all obligations, assignments, releases of real property.and/or personal i liability, reamortizations, renevrals, deferments, extensions or any other agreement, in writing, made by any one or more of ~i the parties herein designated as Crst party with second party are hereby authorized and consented to by all parties herein designated as first party and shall extend to and be binding upon the heirs. executws, administrators. successors and assigns i of all the parties herein designated as first party. ~ 1S. First party agees as a condition hereof that if a conveyance, lease or other disposition should be made ; voluntarily by first party (or by any one or more of the parties designated herein as fast party) of any title or interest in and i~ to the real property described above, or any part thereof, without the written consent of the lawful holder of this mortg,age, I~ or if such title or interest of first party (or of any one or more of the parties designated herein as fust party) is inrotuntarily oonveyed or transferred as the result of foreclosure of a juniur lien or is required under court ordof he firste artie's,~J more ! litig~tion (conveyance or transfer of tide or interest resulting from death of first party. or any W ; than one, excepted), vrithout the written oonsent of the lawful holder of this mortgage, then and in either of said events. and .I ; at the option of said holder, and without notice to the fust party, all sums of money secured hereby shaU become due and payable and in default immediately and concurrently with such conveyance, transfer, lease or other disposition, whether the rdme are so due and payable and in default b~~ ihe specific terms hereof ur not. 16. Second parry shall have the right, exerc~sable at its discretion so iong as this mortgage is in force and ef[ect, to ,i demand in writing the assignment of and transfer to second party, its wccessors and assigns, and fust party hereby agrees to so assign and transfer, any and all rents~ profits, royalties. income or other consideration to be paid or accruing to fust party , from any oil, natural gas. nuneral. timber, leasehold or other interest of any kind and nawre whatsoever, derived from, oonnected with or affecting the within described real property but not otherwise subject to, conveyed and/or secured by this mortgage, with the right of, but no duty upon, second party, its successors or assigns, to collect same. f 17. First party will comply with all the terms and conditions of any instrument heretofore or hereafter executed by ' first party in connection with the loan(s) secured by this mortgage. 18. If first party (or either of them, if more than one), his heirs, wccessors or assigns, or any assumer of the indebtedness hereby secured, fdes a petition in voluntary bankruptcy, for receivership, for corporate reorganization, or for fi other debtor reGeC of any character or kmd, or is adjudged a bankrupt, then and in the event, and at the option of the second party, its successors and assigns, the second party, without notice to the first party, shall have the right to declare all sums of ; money secured hereby inunediately due and payable and in default whether the same are so due and payable and in default by the specific terrtu hereo( or not. 19. This instrument is subject to the Farm Credit Act of 1971 and all acts amendatory thereof and supplementary ' thereto and re lations issued thereunder. All rights, powers, privileges, oplions and remedies conferred upontan a deshall , S~ ~ second party are cumulative of all other remedies and rights allowe~ by la~v, and may be pursue concu y, : extend to and may be exercised and enjoyed by the successors and assigns of second party, ar~d by any agent, offic~r, I~ attorney or representative of secand party, its successors or assigns. All obligations of, and assignments by, first party herein ~1 and hereunder shall extend to and be bindmg upon the heirs, executors, administrators_ successors, and assigns of fust party. (N ~Iy1TNFSg WHEREOF, first party has hereunto set his hand and seal (and if i`ust party is or includes a i corporation, it has caused this instrument to be executed, sealed by its corporate seal and deWered by its duly authorized offiicers), this the day and year first above written. ~ f, ~ Signed, Sealed and Delivered (SEAL) ~ - the presence of: p H. LP~~Tf {I `~~~j • --P~ ir - i (SEAL) ! ~ ~ T eo H. Leffmann ~ ?~ct ~ t J tl-c--Cc-c ' - (SEAL) ~I (SEAL) (SEAL) (SEAL) - « (SEAL) i - i soe~2~9 ~cr~~~3 _ _ . - - _ _ _ - - _ - - - ~ - ~ ? ? , _ C '~.,,re - ' . f . °-dss ~s ~ ~ +~'r ~ ~ „ ~ _ _ . ~~y .;i' ~ .