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HomeMy WebLinkAbout1209 I ! ~ - - _ ~ ~ ~ ~ ~ ' growing upon thc uid mortgaged premises at the time of filing suit for forecloaure hereof and thereaflcr, and ap of the rents, ~ issua, and profits of the said mortg~ged prenusa unpaid and uncoU~cted at 1he time of fding suit for foreclasure hereof and , , I thereafter. and upon Piling suit for foreclosure~ or at any time thereaftet, second party ahaU be entitled to have a receiver ~ appointed to take charge of tht said mottg,age premisea and the aops aov?m or growing lhereon, together with the said rents, issuest and profits uising therefrom and hereby assigned. and hold the same wbject to the order and d'uection ot the court. ~ 10. Fint party covenants that he will not perform any act which might impair or tend to impair the continwtion on ~ the property herein described of all crop aQotments and aaeage allotmentt now established or Y~°ceatter establiahed on any of ; the property herein described. ~ 11(a). In the event seoond party becomea a puty to any legal proceeding (excluding an action to foreclose this ~ mortgage or to ooUect the debt hereby secured), involving thia mortgage or the premises described herein (including but not ~ limited to the title to the tands described above), xcond party may also recover ot Cnt pacty all costs and expenses ; reasonably incurred by ~he mottgagee, including a reasor~able sttorney'a fee, which coats, expenses and attorney's fee when ` paid by second party shall become a part of the debt secured hereby and shall be immediately payable upon demand, and ~ shall draw interest from the date of advance by second party until paid at the highest rate provided in any note or other ~ instrument secund hereby. ~ 11(b). In the event said debt, or any part thereof, is established by or In any action for foreclosure of this mortg,age, second party may also recov~er of fustpa rty, in addition to the said debt or so much thereof as shall be unpaid, a reasonable ~i ICC fOi ~~lC aUu~~~cy ~.:and party for profeuional services rendered in such action, wch fee tu be incorporated in the ~ decree of foreclosun in sucfi action. 12. First party shall hold and enjoy the said premises unW default in payment of any of the instaUments as provided ' in said note or other instrument secured hereby or a breach of any of the cov~enants or oonditions of said note or other instrument secured hereby or this mortgage shall be made; however, any agent or employee of second parly or any person f designated by second party may enter upon said premises at any time for the purpose of inspecting same or for any other ~ pwposes desired by second puty. ~ 13. All amounts that may hereafter be awarded for condemnation of, and vraste 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 of attomey's fees and expenses incuned by first party and by second parry in connection therewith, on such part ~ of the indebtedness secured hereby u seoond party may determine, with no du~ on se ~nd~par e~ ~o or rsonal ~ 14. First party agrees aa a condition hereof that all obligations~ assign p Pe Y I P~ liability, reamortizations, renewals, defern~ents, extensions or my other agteement, in writing, made bY anY otk or more of the parties herein designated as fust party with second party are hereby authoriud and consented to by all parties herein designated as fust puty and shall extend to and be binding upon the heirs, executors, administrators, sucassors and assigns of all the ~rties herein designated u first party. ' I5. Fint party agrees u 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 pazties designated herein as fust party) of any title or interest in and to the real property described above, or any put thereof, without the written consent of the lawful holder of this mortgage, or if such tide or mterest of fust party (or of any one or more of the puties designated herein as fust parry) is involiu?tarilY oonveyed or transferred as.the result of foreclosure of a junior lien or is requiced under court order or decra as the result of litig;ation (conv~eyance or transfer of titk or interest resuiting from death of first puty, or anY of the fust parties, if more than one, exapted), without th~ written oonsent of the lawful holder of this mortgage, then and in either of said events, and at tt?e option of aaid holder, and without notia to the C~rst party, all sums of money secured hcreby shali become due and ~ payable and in default immediately and concurrently with such conveyance, transfer, lease or other d.isposition, whether the same ue so due and payable md in default by the specific terms hereof or not. ~ 16. Second party shall have d?e right, exercisable at its discretion so long as this mortgage is in force and effect, to ~ demand in writing the assignment of and transfer to second partv, its wccessors and assig~s, and fust party hereby agrees to so assign and transfer, any and all rents,. profits, royalties, income or other consideration to be paid or acccuing to fust party ~ ' from any oil, natunl gas, mineral, timber, leasehold or other interest of any kind and nature whatsoever, derived from, ~ oonnected with or affecting the within descnbed real property but not otherwise subject to, c~onveyed andJor secured by this ~ mortgage, with the right of, but no duty upon, second party, its successors or assigns, to collect same. ~ 17. First puty will comply with all the terms and conditions of any instrument heretofore or hereafter executed by ~ ~ fust party in connection with the loan(s) secwed by this mortSaB~• his heirs~ ruccessors or assigns, or any assumer of the , ~ 18. If first party (or either of them, if morery an onep, for receivershi for cor rate reor tion, or for indebtedness hereby secured, files a petition in votunW bankru tcy, P~ other debtor reGef of any character or kind, or is adjudged a bankrupt, then and in the event, and at the optio~n o the second ~ party, its successors and assigns, the second party, without notice to the first party, shall have the right to declaze all sums of ~ money secured hereby imn~ediately due and payable and in default whether the same are so due and payable and in default by the specific ter~ hereof or not. _ { l9. This instrument is subject to the Farm Credit Act of 1971 and all acts amendatory thereof and supplementary ~ ~ thereto, and regulations is,wed thereunder. All rights, powers, privileges, options and remedies confened upon and given to second party an cumulative of all other remedies and rights allowed by law, and may be pursued concnrrently, and shall ~ extend to and may be exercised and enjoyed by the wccessors and assigns of second party, and by any agent, officer, i attorney or representative of ~econd party, ita succes.sors or assigns. All obGgations of, and assignments by, ~rst partY herein ( and hereunder shall extend to and be bindmg upon the heirs, executors, administtators, successors, and assigns of first party ~~~~5 th~isE~ins~trument to be ex cuted r sealed by ts cornpora edsea and dellivered b~its duly authoreiud ~ oorporation, it has caused ~ ~ officers), this the day and year firri above written. ~ ~ ~ i ~ ~ Signed, Sealed and Delivered (SEpi,) _ in the presence of: etteL E. eerte, Jr. ~ ~ ~ -C ~ ':%~Gs c~ (SF.AL) I ' Hariot H. Greene ' (SEAL) ~ . (SF.AI.) ~ ~c: cs~.) ~ ~ ~ ~sEnL) ~ ~ ~ (SEAL) ~oa~235 ~ : ~ - - - - - • ~ ~ ~~2 3S- ~ ; ~ = _ ~ ~t _ . _ . - ,~r._.