Loading...
HomeMy WebLinkAbout2978 `1 i - - ~t '`t .t growing upon the said mortgaged ptem(1ta`aj tl~e time of (ding suit for foreclosure hereof and thereafter, and all of the rents. issues, and profits of the said mortgaged premises unpaid and uncollected at the time of filing suit for foreclosure hereof and thereafter, and upon filing suit for foreclosure, or at any time thereafter, second party shall be entitled to have a receiver appointed to take charge of the said mortgage pronuses and the crops sown or growing thereon, together with the said rents. issues, and profits arising therefrom and hereby assigned, and hold the same wbject to the order and direction of the court. 10. First party covenants that he will not perform any act which might impair or tend to impair the continuation on the property herein described of all crop allotments and acreage allotments now established or hereafter established on any of the property herein described. 11(a). In the event second party becomes a party to any legal proceeding (excluding an action to foreclose this mortgage or to collect the debt hereby secured), involving this mortgage or the premises described herein (including but not limited to the title to the lands described above), second party may also recover of first party all costs and expenses reasonably incurred by the mortgagee, including a reasonable attorney'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 the date of advance by second party until paid at the highest rate provided in any note or other instrument second hereby. ll(b). In the event said debt, or any part thereof, is established by or in any action for foreclosure of this mortgage, second party may also recover of fast .party, in addition to the said debt or so much thereof as shall be unpaid, a reasonable fee for the attorney of second party fo* professional services rendered in wch action, such fee to be incorporated in the decree of foreclosure in wch action. 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 pwposes desired by second party. 13. AU amounts that may hereafter be awarded for condemnation of, and waste and tortious injury to, any of the property hereby Yncumbered are hereby assigned and shall be payable unto second party for application, after payment therefrom of attorney's fees and expenses incurred by fast party and by second party in connection therewith, on such pazt of the indebtedness secwed hereby as second party may determine, with no duty on second party to collect same. 'III' 14. First party agrees as a condition hereof that all obligations, assignments, releases of real property and/or personal liability, namortizations, renewals, deferments. extensions or any other agreement, in writing, made by any one or more of the parties herein designated as fast poly with second party aze hereby authorized and consented to by all parties herein designated as first pazty and shall extend to and be binding upon the heirs, executors, administrators, successors and assigns of all the parties herein designated as first party. I5. First pazty 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 i _ 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 lust party (or of any one or more of the parties designated herein as fast poly) 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 li litigation (conveyance or transfer of title or interest resulting from death of first party, or any of the first pazties, if more than one, excepted), without the written consent of the lawful holder of this mortgage, then and in either of said events, and i! at the option of said holder, and without notice to the first pazty, 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 i~ .same are so due and payable and in default by the specific terms hereof or not. 16. Second party shall have the right, exercisable at its discretion so long as this mortgage is in force and effect, to j demand in writing the assignment of and transfer to second party, its successors and assigns, and first party 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 I from any oil, natural gas, minenl, 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, successors or assigns, or any aswmer of the indebtedness hereby secured, files a petition in voluntary bankruptcy, for receivership, for corporate reorganization, or for ~i other debtor relief of any character or kind, or is adjudged a bankrupt, then and in rho event, and at the option of the second party, its successors and assigns, the second party, without notice to the fast party, shall have the right to declare all sums of money secured hereby imnrediattly 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 wbject to the Farm Credit Act of t97f and all acts amendatory thereof and wpplementary thereto, and regulations iswed thereunder. All rights, powers, privileges, options and remedies conferred upon and given to li second party are cumulative of all ocher remedies and rights allowed by law, and may be purwed 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 of, and assignments by, first party herein and hereunder shall extend to and be binding upon the heirs, executors, administrators, wccessors, and assigns of first party. , W WITNESS WHEREOF, first party has hereunto set his hand and seal (and if first party is or includes a it corporatan, 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 fast above written. s I~ F r~ Signed, Sealed and Delivered - in the presence of: _ (SEAL) ~i Barnette E. Greene, Jr. (SEAL) (SEAL) i1 Hariot N. Greene I~ ' (SEAL) (SEAL) (SEAL) C R ~~tj g. v , V (SEAL) `vL•~ i - - - - - ~ u._