HomeMy WebLinkAbout0974 scribed or any part of the indebtednese secured hereby or intereat
thereon be not paid when due, or if Mortqaqor shAil fail to pay
any,taxea, asseBSments, cha~rges, or impositions as the same become
due and payable, or if default be made in the full and prompt per-
fonaance of any covenant or agreement or in said note herein con-
tained, or if any proceedinqs be ingtituted to abate any nuisance
on the Mortqaged ~remises or ff any proceedinga be inetituted
which might result to the detriment of the use and enjoyment of
the premieea, or if Mortgagor sh~ll make an assignment for the
benefit of creditors, or if a receiver, liquidator or trustee of
Mortgagor or any of Mortgaqor's property be appointed, or if Mort-
gagor is adjudicated a bankrupt or insolvent or any of the prop-
esty of Mortgaqor be sequestered, or if Mortgagor files or consenta
to the filing of any petitfon or proceeding under the National
Bankruptcy Act or similar State or Federal Statutes, as now or
hereafter in effect, or if such petition or proceeding is filed
against Mortqaqor and not dismissed within sixty {60) day8 after
such filing, or if Mortgaqor shall admit inability to pay debts
as they become due, or if Mortgagor be a corporation, if its
directora or stockholdera ahall institute or consent to any pro-
ceedings for the dissolution or liquidation of Mortqagor or fail
to do all thinqs necessary to maintain the exiBtence of Mortgagor,
or if any law shall be enacted or decision rendered by any court
of last resort imposinq any tax or assessment not now in effect
upon this mortqage, or the note secured hereby, or any interest ~
of Mortgagee in the Mortqaqed Premises, or rendering inoperative
the undertakinqs of Mortgagor ~to pay all taxes arising as a re-
sult of this transactfon other than taxes on the interest income
herefrom, or which results~in the deduction from values of lands,
for tax purposes, of the amount of any lien hereon, or altering
the laws for the taxing of mortgages or debts secured thereby,
then on the happening of any one or more of these events, this
conveyance shall become abBOlute and the whole indebtedness
secured hereby shall immediately become due and payable at the
option of Mortgagee and this mortgage may thereupon be foreclosed
for the whole of said money, interest and costs, or Mortgagee may
foreclose only as to sums past due without injury to this mort-
gage or the displacement or impairment of the remainder of the
lien thereof, and at such foreclosure sale the property shaZl
be sold subject to all remaininq items of indebtedness and the
Moztqagee may again foreclose,in the same manner as often as `
there may be any swa past due.
9. If at any time after default by Mortgagor a receivership
may be necessary in the opinion of Mortgagee to protect the lien
hereof, or at the time of or after the institution of snit to
collect the indebtedness hereby secured, or to foreclose this _
mortgage r Mortgagee eha11 i a~ an adr.~itted eruit~ and as a r.~tter
of strict right and regardless of the value of the property, or
the solvency or insolvency of Mortgagor or any party bound for
the payment of the indebtedness have the right to appoint, on ex
parte application and without notice to anyone-by any proper court
havinq jurisdiction, of a receiver, which receiver shall have all
of the broad and effective powers and functions in any wise en-
trusted by the court to a rece~ver to take charge of, manaqe,
preserve, maintain, care for and protect the Mortgaged Premises _
and to collect rents, issues, proceeds, produce, profit, income
and revenues of the Mortgaged Premises from whatsoever source "
derived; to make all neceesary or needful repairs and to cultivate,
operate, dust, prune, fertilize, lime, drain, irrigate and protect
from damage by fire, the timber, fields, pastures, orchards, citrns
groves arid all other agricultural developments located on the Mort-
gaged Premiaes and to market the products thereof and receive and
collect the proceeds thereof and such receivership shall, at the
option of Mortgagee, continue until~the full payment of all sums
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