HomeMy WebLinkAbout2470 growing upon the said mortgaged prornises at the lime oi ffling~auit fw foreclowre tiereof and theceaftec, a~d all af the cents,
issues, an~ profits of the said mortgaged premisa unpaid and uncopccted at the time of filing suit for foreclosurc hereof and
thereafler, and upon PilinR suit for foceclosure. or at any tima theresfte~, second Farty shaU be entitled, to have a reaiver
~ appointed to take chuge ot tho said mortgage premises and the crops sown or growing thereon, together with tht ~i3 rentt,
; issuea, and profits uising theref~om and hereby assigned. snd hold the samo subject to the orde~ and direction of the oourt.
I 10. First puty oov~enar~ts that he will ~ot pedorm any act which might impair or tend to impair the continuation on
! the property herein deacribed of aU crop aUotments and acreage allotments now established or hereafter established on any of
' the property herein described.
i Il(a). In the event second party becomea a party to any leg,al proaeding (excluding an action to ~[oreclose this
~ mortgage or to coAed the debt heceby secured), involving thia mortg,age or the premises described herein (including but not
' limited to the titk to the lands described above). seoond party may also recover of first party all costa and expenses
; reasonably incurred by the mortg,agee, including a reasonable attorney's fee, which costa, expenses and attorney's fee when
~ paid by seoond puty shall become a put of the debt secured hercby and shall be immediately payablc upon demand, and
shalt draw interest from the date of advana by second party until paid at the highest rate provided in any note or other
instrument secured hereby. -
; ll(b). In tho ev~ent said debt, or any part thenof, is established by or in any action tor foreclosure of this mortgage,
! second party may also reoov~er of fustparty, ~n addition to the said debt or so much thereof as stiall be unpaid, a reasonable
fee for the attorney of second party ~`or profesaional secvices repdered in such action. such [ee to be inoorponted in the
~ decree of foredosure in wch action. -
~I 12. First pacty shall hold and enjoy the said pnmisea unW default in payment of any of the installments aa provided
in said note or other instrument secured hereby or a breach of my of the covenants a oonditions of said note or other
~ iastrwnent aecund hereby, or this mortgage shall be made; however, any agent or employee of seoond party or any person
designated by seoond party may enter upon said premises at any time for the purpose of irapecting same or for any other
't purposes desired by seoond party.
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. ~,f. AII i]ilOl1I1LE ZIlBL IfIBy RC[C3llC~ OC aWitlttcLL lV~ bvi~uwww~ivu va~ &i~u :.wiw y~-~ s-'
; property henby encumbered aze hereby assigned and shall be payabk unto second party for application, after payment
therefrom of attorney's feat and expenses incuned by first puty and by seoond puty in connection therewith, on such part
of th~ indebtedness sscured hereby as second party may determine, with no duty on second pury to collect same.
14. First puty agrces as a condition hereof that a11 obli~ations, assig~unents, releases of real property andloc personal
`i liability, reamortizatioaa, renewals. deferments, extensiocu or any other agreement, in writing, made by any one or more of
:I the partiea herein desigr~ated as fust party with seoond party are hereby suthoriud and consented to by all puties herein
~i designated as fust party and shall extend to and be binding upon the heira, executon, administrators, successors aad assigns
~ of all the parties,herein desig~nated as fust party.
15. First party agrees as a condition hereof that if a conreyance, lease or other disposi~ion ahould be made
! voluntarily by fust puty (or by any one or mora of the parties designated herein as first party) of any tide or interest in and
to the real property described above, or any part thereof, without the written consent of the lawful holder of this mortg~ge,
! or if such titk or interest of fust party (or of any one or more of the parties designated herein as first puty) ia imuluntarily
oonvcyed or transfened as the result of foreclosure of a junior lien or it required under court order or decree u th~ result of
~ litig~tion (ooaveyance or tanafer of tide or intereat resulting from death of fust p~rty, or any of the fust partia, if more
than one. exapted), without the written consent of the lawful hoWer of this mortgage, then and in either of said events, and
at the option of said holder, and without notice to the furi party, all sums of money secured hereby shall beoome due and
'j payabk and in default immediately and ooncurrently with such conveyance, transfer, leue or other disposiUon. whether the ,
' same ue so due and payable and in defau[t by the specific terms hereof or not.
~ 16. Second party shall have the right, exere~sable at its discretion so long as this mortgage is in forcx and e[fect, to
demand in writing the assignment of and transf'er to second party, its wccessors and assigns, and first puty hareby agras to
so assign uid transfer, any and all rents,. profits, royalties, income or other consideiation to be paid or acccuing to first party
from any oil, natural gas, mineral, timber, ieasehold or other interest of any kind and nature whatsoever, derived from,
!j oonnected with or affecting the within descnbed real property but not othecwiae wbject to, conveyed and/or secwed by this
; mortgage, with the right of, but no duty upon, second-party, its succeasors or assig~?s, to collect aame.
j " ~ 17. First puty will comply with all the terms and conditions of any instrument herotofore or hereafter executed by ~
f ; first puty in connection with the loan(a) securcd by this mortgage.
~ 18. If fust party (or either of them, if more than on~), his heirs, successors or assigns, or any assumer of the
indebtedness hereby secured, C~les a petition in votuntary bankruptcy, for receivership, for corporate reorgu?ization, or for
~ other debtor relief of any character or kind, 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 ri8ht to declare all sums of
money secured hereby immediately due and payable and in default whether tht same are so due and payablt and in default
~ by the specific ter~ hereof or not. -
19. This instrument is subject to the Farm Cndit Act of 1971 and all acta amendatory thereof and supplementary
thereto, and regulations issued thereunder. All rights, powers, privileges, options and remedies confened upon and given to
second puty an cumulative of all other remedies and rights allowed_4~y_law, and may be Fursued concurrently, and shall
' extend to and may be exercised and enjoyed by the successon and assigns of second party, and by any agent, of~icer,
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attomey or representative of second party, its sucassors or assigns. All obligations of, and assignments by, fust puty herein
and hereunder shall extend to and be binding upon the heirs, executors, administrators, successors, and asvgns of firri party.
~ W~'~'NFSS Wf~REpF, first party has hereunto set his hand and seal (and if fust party ia or indudes a
; corporation, it has cau~ed this instrument to be executed, seakd by its corporate seal and deiivered by its duly autharized
~ offiars), thia the day and year firat above written.
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