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HomeMy WebLinkAbout2955 i ~ growing upon the aaid mortg~ged premises at the tim~ of filing suit fot forecloture hereof and thereafter. and ap of the rents. ~ issua~ and profits of the said mortgaged ~emises unpaid and uncoAeFted at the tura of fding suit Cor foreclosure hereof and thereatter, and upon flling suit for [oreclo:ure, or at any Wne therwtter, second party shall be entitled to harre a reaiver appointed to take chuge of the ~id mortgage premises and the aops sovm or growing thereon. together with the said rents, issues, and profita uising theceGom and hereby assigned, and hold the same ~bject to the order and dlrection of the court. 10. Firat puty oovenuits that he will not perform any act which might impair or tend to impait the continwtio~ on the property herein described of all crop allotments and acreage allotments now established or hereafter established on a~y of the property herein dacribed. ~ 11(a). In the event second party becomes a party to any kgal proceeding (excluding an action to foreclose thi: ! mortgage or to collect the debt hereby seeured). involving thia mortgage or the premisea described herein (including but not limited to the title to the lands described above), seoond party may also recover of firri party all coats and expensea reasonably incuned by the mortgagce, including a reasonable attorney's tee, which costs, expenses and attorney's fex when j paid by second party shall become a part of the debt secured henby and shall be immediately paysble upon demand, and shall draw interest from the date of advanoe by secoad party unt~ paid at the highest nte pmvided in any note or other instrument secured hereby. 11(b). ln the evcnt said debt, or any put thereof, is established by or in any action for fonclosure of this mortg,age, s~cond puty may also recorer of firstparty, in addition to the said debt or so much thereof as shall be unpaid, a reasonable fee for the attomey of seoond party tor profeuional services rendered in such action, such fee to be incorporated in the ~ decrce of foreclosun in such sction. 12. Firat party shall hold and enjoy the said pnmises until default in payment of any of the installinents as provided ~i in said note or other instrument secured hereby or a breach of any of the covenants ot oonditions of said note or oWer ! instrument xcured hereby or this mortgage shall be made; however, any agent or employee of aecond puty or any person 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 aecond puty. ;j 13. All amouats that may hereafter be awarded for condemnation of, and waste and tortious injury to, any of the ' property henby encumbered are hereby auigned and shall be payable unto second party for application, after payment I therefrom of attomey's fees and expenses incurnd by fust pacty and by aecond party in connection therewith, on wch part ' of the indebtedness aecured hereby as szoond party may determine, with no duty on seoond party to collect same. ' i 14. First party agrees as a condition hereof that all obli~ationa, auignm~nta, releases of real property and/or personal i liability, reamortizationa, renevrals. deferments, extensioiu or any other agreement, in writiag, made by any one or more of ' the puties herein datignated as fust party with seaond party ue hereby authorized and consented to by all parties herein designated as fuat puty and ahall extend to and be binding upon the heirs, executors, administrators, sucexss~rs and assigna ' of all the parties hereia design~ted aa fust party. - 1' 1S. First party agrea as a condition hereof that if a conveyance, kase or other diaposition should be made voluntarily by first party (or by any one or more of the parties designated herein a;,first party) of any tide or intere~t in and to the real property deacribed above, or any put thereof, without the written oonsent of the lawful holder of this mortga~e, ' or if such tide or interest of first puty (or of any one or more of the puties designated herein as fust puty) ia involuatarily ~ ~ conveyed or tnnsfernd as the result of foreclosure of a junior lien or is roquired under oourt order or decree as the result of ~ litigation (oonveyancx or transfer of tide or interest resulting from death of first party, or any of tha fust parties, if more than one, exapted), without the written oonsent of the Iawful holder of thia mortgage, then and in either of said ev~ents. and at the option of said holder, and without potice to the fust puty, all wms of money secured hereby :hall beoome due and payable and in default immediatety and concurrently with such convayance, transfer, lease or other ditposition, whether the ' same ue so due and payable and in default by the specific terms hereof a not. ~ 16. Second party shall have the right, exercisable at its discretion so long as this mortgage is in fora and effect, to ~ . demand in writing the assignment of and transfer to second party, its wccessors and assigns. and furi party hereby agrces to so assign and tranafer, any and aD rents,. profita, royalties, income or other consideration to be paid or accruing to Cust party from any oil, natural gas, mineral, timber, kasehold or other interest of any kind and nature whatsaver, derived from, connected with or affecting the within descr?bed real property but not otherwise subject to, oonveyed and/or secured by this mortgage, with the right of, but no duty upon, xcond party, its successon or aasigns, to collect same. 17. First party will oompiy with all ~the terms and conditions of any instrument heretofore or hercafter executed by fust puty in connection with the ban(s) secured by this mortgage. 18. If fust party (or either of them, if more than one), his heirs, successora or as~gns, or any assumer of the ~ indebtednes3 hereby aecured, fdes a petition in voluntary bankruptcy, for receivership, for corporate reorganization, or for other debtor relief of any chuacter or kind, or is adjudged a bankrupt, then and in the event, and at the option of the aecond ` ' party, its successors and assigns, the seoond party, without notice to the firri party, shall have the right to declue ail sums of I 'i moaey aecured hereby immediately due and payable and in default whether the rame are so due and payable and in default ~ ~ ' by the apecitic teruu hereof or not. ~ ; 19. 'fhis instrument is subject to the Farm Credit Act of 1971 and all acts amendatory thereof and supplementary ; thereto, and regulations issued thereunder. All rights, powers, privileges, options and remedies conferred upon and given to ~ second party an cumulative of all other remedies and rights allowed by law, and may be pur~ed concurrently, ac~d shall . ~ extend to and may be exacised and enjoyed by the wcceasors and auigns of second party, and by any agent, oncer, ~ ••^•••Z•' ~T ~^r~••+'+~:v. nf a~sM~.i .,~.tv +~e p,~~:-neenrc nr seci ~ s~l nh~io tinne nf~ a~ui af[cionments bV; frSt o9itY flEtein i+~ava~a j u`.+:••a. ~ Y J s - - - ~ ~ - - r ~ and hereunder sha11 extend to and be binding upon the heirs, executors, administrators, wcceasors, and aisig~ts of fait party. ~ ~ ~ IN WITNESS WHEREOF, first party has hereunto set his hand and seal (and if fust party is or indudes a ~ corporation, it hsa caused this instrument to be executed, sealed by its corporat~ seal and delivered by its duly suthorized ~ omcers), this the day and year fust above written. ~ ~ ~ Signed, Seakd and Delivered • ~ ' - in the prexna of: ~ Roll' . Tedder ; ~ ) ~ E ise H. Tedder ~ ~ ' ~ (SF.AL) ; ~5~~ ~ ~ ~ (SEpI,) ~ ~ ~ ~5~~ ~ ~ (S~.) I , ~ i ~ ; ~ t OR ` ~ ~ a~x235 ~2954 ~ t _ ~ ~ : _ - - - . - - ~ _ _ - .