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HomeMy WebLinkAbout1766 i tI i~i l growing upon the said mortgaged premises at the time o~ filing quit f foreclosure hereof and thereafter, and all of the rents, issues, and profits of the said mortgaged premises unpaid and unroll red at the time of filing suit for foreclosure hereof and thereafter, and upon filing suit for foreclosure, or at any time Cher ter, second party shall entitled to have a receiver appointed to take charge of the said mortgage premises and the crops or growing thereo ,together with the said rents, iswes, and profits arising therefrom and hereby assigned, and hold the same bjeM to the or rand direction of the court. 10. First covenants that he will not perform any act which migh or red to impair the continuation on ~ ~I the property herei described of all crop allotments and acreage allotments now estab ~ d or hereafter established on any of the property herein 11(a). !n the event second y becomes a party to any legal proceeding (excluding an action to foreclose this mortgage or to collect the debt hereby ured), involving this mortgage or the premises described herein (including but not limited to the title to the lands desert above), second party may also recover of Pint party all costs and expenses reasonably incurred by the mortgagee, inclu ~ g a reasonable attorney's fee, which coats, expenses and attorney's fee when paid by second party shall become a part o the debt secured hereby and shall be imnxdiately payable upon demand, and ji shall draw interest from the date of ad by second party until paid at the highest me provided in any note or other instrument secured hereby. !f I1(b). !n the event said debt, or any part thereof, is established by or in any action for toreclosure of this mortgage, second party may also recover of lust party, in addition to the said debt or so much thereof as shall be unpaid, a reasonable ~ fee for the attorney of second party for professional services rendered in such action, wch fee to be incorporated in the decree of foreclosure in such action. j~ 12. First party shall hold and enjoy the said premises until default in payment of any of the installments as provided in said note or other instrument secured hereby or a breach of any of the covenants or conditions of said note or other instrument secured hereby or this mortgage shall be made; however, any agent or employee of second party 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 . j purposes desired by second party. i; 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 first party and by second party in connection therewith, on wch part of the indebtedness secured hereby as second party may determine, with no duty on second party to collect same. 14. Fiat party agrees as a condition hereof that all obligations, assignments, releases of real property and/or personal liability, reamoriizations, renewals, deferments, extensions or any other agreement, in writing, made by any one or more of the polies herein designated as first party with second party are hereby authorized and consented to by all parties herein designated as fast party and shall extend to and be binding upon the heirs, executors, administrators, successors and assigns of all the parties herein designated as fast party. 15. First party agrees as a condition hereof that if a conveyance, lease or other disposition .should be made voluntarily by fast party (or by any one or more of the parties designated herein as fast party) of any title 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 wch title or interest of fast party (or of any one or more of the parties designated herein as fast party) is involuntarily conveyed or transferred as the result of foreclosure of a junior lien or it required under court order or decree as the result of litigation (conveyance or transfer of title or interest resulting from death of fast party, or any of the. fast parties, if more than one, excepted), without the written consent of the lawful holder of this mortgage, then and in either of said events, and at the option of acid holder; and without notice to the first party, all sums of money secured hereby shall become due and payable and in default immediately and concurrently with such conveyance, transfer, lease or other disposition, whether the same are so due and payable and in default by the specific terms hereof or not. ~ f 16. Second party shall have the right, exercisable at its discretion so long as th mortgage is in force and effect, to demand in writing the assignment of and transfer to second party, its wccessors and ass, and fast puty hereby agrees to so assign and transfer, any and all rents,, profits, royalties, income or other consideration to be paid or accruing to fast party from any oil, natural gas, mineral, timber, leasehold or other interest of any kind and nature whatsoever, derived from, connected with or affecting the within described real property but not otherwise wbject to, conveyed and/or secured by this mortgage, with the right of, but no duty upon, second party, its wccessors or assigns, to collect same. 17. First party will comply with all the terms and conditions of any instrument heretofore or hereafter executed by ~ fast party. in connection with the loan(s) secured by this mortgage. 18. If first party (or either of them, J more than one). his heirs, wccessors or assigns, or any aswmer of the indebtedness hereby secured, files a petition in voluntary bankruptcy, for receivership, for corporate reorganization, 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 lust party, shall have the right to declare all sums of i money secured hereby immediately due and payable and in default whether the same are so due and payable and in default by the specific terms hereof or not. 19. This instrument is subject to the Farm Credit Act of 1971-and all acts amendatory thereof and wpplementary thereto, and regulations iswed thereunder. All rights, powers, privileges, options and remedies conferred upon and given to ~ second puty are cumulative of all other remedies and rights allowed by law, and may be purwed concurrently, and shall { extend to and may be exercised and enjoyed by the wccessors and assigns of second party, and by any agent, officer, attorney or representative of second party, its wccessors or assigns. All obligations of, and assignments by, first party herein ~ and hereunder shall extend to and be binding upon the heirs, executors, administrators, wccessors, and assigns of fast party. ~ i IId WITNESS WHE1tEOF, first party has hereunto set his hand and seal (and if fast party is or includes a corporation, it has caused this instrument to be executed, sealed by its corporate seal and delivered by its duly authorized officers), this the day and year lust above written. } Signed, Sealed and Delivered in a reCsena (SEAL) l ~ L~ R.y.~?,~ (SEAL) 3 ' Patricia e. Carron t (~"L' i (SEAL) (SEAL) (SEAL) (SEAL) ° R o~ 1766 300K _