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HomeMy WebLinkAbout0057 : ; _ ~ - - = - - ~ . ~ w L ;I i~ growing upon the s3id rrx~rtgsged prenuses at the time of fding suit for foreclosu~e hereof and thereafter, and all of the rents, ; issues, and ptofits uf the said mortgagzd prenuses unpaid and uncullected at the time of filing suit for forcclosure hereuf and thereafter, and upon filing suit for foreclowre, or at any time thcreaRe~, secund party shail be entitled to have a rece~vcr ~ . aPpointed to take charge uf the said niortgage prer~uses and the cr~ps sown or growing thereun, togethe~ with the said rents, ~ issues, and profits arising theref~om and hereby assigned, and hold the same subject to the order and direction of the court. l0. First party covenants that he wiU not perform any act which nugl~t impair or tend to impair the continuatiun on ( the property herein described ot ati crop aUotments and acreage allotments now establist~rd ar hereafter es~ahlislied un any of j the property herein described. ~ 11(a). In the event second parry becames a parry to any legal praceeding (excluding an action to foreclose this ~ mortgage or to collect the debt heceby secured), involving this n?origage or the prenuses described herein (including but nol ~ Gmited to the title to the lands described above), second parry may also recover of Crst parry aU custs and expenses i reasonabty in~urred by the mortgagee, including a reasonable attor~ey's fee, which costs, 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 ihe date of advance by second party until paiJ at the higiiest rate provided in any note or other instrument secured hereby. ; 1 t(b). in the erent said debt, or any part thereof, is established by or in any action foc foreclosure of this mortgage, ; second party may also recover of first party, in addition to the s3id debt or so much thereof as shall be unpaid. a reasonable fee for the attorney of second party for professioha! services rendered in such action, such fee to be incorporated in the ~ decree of foreclosun in such action. ;J 12. First pariy sha0 hold and enjoy ihe said prenuses until default in payment of any of the installments as provided !I in said note or other instrument secured hereby or a breach of any of the covenants or conditions of said note or other ~ ~ irtstrument secured hereby or this mortgage shall be made; howerer, any agent or empioyee of second party or any person designated by second party may enter upon said premises at any time for the purpose of ins~ecting same or for any other j~ purposes desired by second party. 13. All amounts.that may hereafter be awarded for condemnation of, 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 of attorney's fees and expenses incurred by fitst party and by seeond party in connection therewith, on such part of the indebtedness secured hereby as second party may determine, with no duty on second party to collect same. 14. First patty agrees as a condition hereof that all obligations, assignments, releases of real property and/or personal ~f liability, reamortizations, renewais, deferments, extensions or any other agreement, in writing, made by any ane or more of ~ the parties herein designated as first 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, executors, administrators, successors and assigns of aU the parties herein designated as first party. I5. First party agrees u a eondition hereof that if ~ conveyance, lease or other disposition shQUld be made v~otuntarily by first party (or by any one or more of the parties designated herein as ~rst party) of any titlc or interest in and to the real property described above, or any part thereof, without the written consent of the lawful holder of this mortgage, or if such title or interest of fust party (or of any one or more of ihe parties designated herein as first party) is involuntarily conveyed or transferred as the result of foreclosure of a junior lien or is required under court order or decree as the result of litigation (conveyanct or transfer of titk or interest resulting from death of first party, or any of the ~first parties, if more. than one, excepted), without the written coasent of the lawful holder of this mortgage, then and in either of said events, and ` at the option of said holdet, and without notice to the Srst party, all sums of money secured hereby shall become due and ~ payable and in detault immediatety and concurrenily with such conveyance, trar?sfer, lease or other disposition, whether the same are so du~ and payable and in default by the specific terms hereof or not. 16. Second party shaU have the 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 party, its successors and assigns, and first party hereby agrees to `j so assign and transfer, any and all cents, profits, royalties, income or other consideration to be paid oi accruing to first party from any nil, natural gas, minerai, timber, leasehold or other interest of any kind and nature whatsoever, derived from, . connected with or affecting the within dexribed 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. I 17. First party wil! comply with all the terms and conditions of any instrument heretofore or hereafter executed by 1 Fust party in connection with the loan(s) secured by this mortgage. . 1i 18. If Srst parry (or either o[ them, if more t6an one), his heirs, wccessors or assigns, or any assumer of the ~ indebtedness hereby secured, fdes a petition in voluRtary bankruptcy, Ior receivership, for corporate reorganization, or for ; other debtor relief of any charactec 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 patty, withoui notice to the first party, shall have the right to declare all sums of money secured hereby immediately due and payabte and in default whether the same are so dae and payable and in default ! by the specific terrr~s hereof or not. ~ l9. This instrument is subject to the Farm Credit Act of 1971 and all acts amendatory thereof and supplementary ~ j thereto, and regulations issued thereunder. All rights. powers, privileges, options and remedies conferred upon and given to second party are cumulative of all other remedies and rights allowed by law, and may be pursued concurrently, and shall ' extend to and may be exercised and enjoyed by the successors and assigns of second party, and by any agent, officer, attorney or representative of second party, its successors or assigns. All obligations o(, and assignments by, first party herein and hereunder shall extend to and be binding upon the heirs. executors, administrators, successors, and assigns of first_ pariy. IN WlTNFSS Wt1EREOF, first party has hereunto set his hand and seal (and i(' first party is or includes a corporation, it has caused this instrument to be executed, xaled by its corporate seal and delivered by its duiy authorized officers), this the day and year C~rst above written. - i ~l _ ` Signed, Seaied and Deliver SEAL ~ he presence of: tis P. Cl ns ~ ~ ; ~ ~ - (SEAL) ; • ~ -~''1[~v t~.~n^'~1^4/ (SEAL) - Ida M. Clemons ; C" - - ` (SEAL) ~ (SEAL) . ~ , - (SEAL) ~i (SEAL) ~ ji SQRK ~ PA~f ` . • - - - - - - - - - - - - - - < _ . . _ _ - - - - - - i ` _ ~ ; ~ .~r~ ~ ~ ~ ~ ~ P 1 -"s~ _ '~~~~~~~ti . ,