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HomeMy WebLinkAbout2555 n . , . ' i i ~ ' . : t _ ~ growing upon the raid mortgaged premisea at the time of fding suit Cor foreclosure hereof and thereafter, and atl of the rents, iuues. and profits of the said mottg~ged premisa unpaid and uncollected at the time of filing suit for foreclosure hereoC and thereafter. and upon filing suit for foreclosure. ot at any time thereafter, second party shall be entitled to have a receiver appointed to tak~ chuge of the said mortgage prenuses and the crops sQwn or growing thereon, together with the said rents, ;j iuues. and protit: uising thetefrom ~red hereby assigned, and hold the same subject to the order and direction of the court. ~I 10. First puty oov~enants that he will not pedorm any act which might impair or tend to impair the con?inuation on i~ ihe propetty herein described of all crop allotments and acreage allotments now established ur hereafter established on any of ~ the property herein described. 11(a). In the event second parry becomes a party to any legal proceeding (excluding an actian to foreclose this ,i mortgage or to collect the debt hereby secured), involving this mortgage or the premixs described herein (including but not i Gmited to the tide to the lands described above), second party may also recovrr of fint 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 shaU become a put of the debt xcured hereby and shall be immediately payable upon demand, and ; shaU draw interest from the date of advance by second pacty unW paid at the highest rate provided in any note or other " instrument secured hereby. ' 11(b). In the event said debt, or any part thereof, is established by or in any action tor foreclosure of this mortgage, ! semnd party may also recov~er ot fustpa rty,_ in addition to the said debt or so much thereot as shall be unpaid, a reasonable i fee for the attorney of seoond party for professionai services rendered in such action, such fee to be incorporated in the i 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 u provided in said note or other instrument secured hereby or a breach of any of the covenants or oonditions of said note or other instrument eecured heteby or this mortgage shall be made; however, any agent or employee of second party or any person designated by second pariy may enter upon said premises at any time for the purpose of inspecting same or for any other purposes desired by second part , , 13. All amounts tha7~reafter be awarded for condemnation of, and waste and tortious injury to, any of the property hereby encumbered are nereoy assiEy~d and ~,`~ill b~ p~ya~ie iiiftd ~COiI~ j33itS7 fOf i~~~ICotiOfi~ after payment therefrom of attorney's fees and expenses incurred by first party and by second party in connection therewith. on such part of the indebtedness secured hereby as seoond party may determine, with no duty on second party to collect same. 14. First party agrees as a condition hereof that all obligatiuns, assignments, releases of real property and/or personal liability, reamortization:. renewals, determents, extensions or any other agreement. in writing, made by any one 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 firat puty and shall extend to and be binding upon the heirs, executors, administrators, successors and assigns of ~11 the parties herein designated as Grst party. 15. First puty agrees as a condition hereof that if a conveyance, lease or other disposition should be made i voluntuily by firat Qarty (or by any one or more of the partits designated herein as fust party) of any tide or interost in and i ' to the real property described above, or any part thereof~ without the written consent of the lawttd holder of this mortgage, ar if such titk or interest of firat party (or of any one or more of the puties designated herein as fast party) is involuntarily ~onveyed or transferred u the result of foreclosure of a junior lien or is required under court order or decra u the result of ~ Gtigation (conveyance or transfer of titk or interest resulting from death of first party, or any of the first puties, if more than one, excepted), without the ~vritten oonsent of the lawful holder of this mortgage. then and in either of said events, and ~ at the option of said holder, and without notia to the first party, all sums of money seeured hereby shall become due and payable and in default immediately and concurtently with such conveyance, transfer, lease or othec disposition. whether the i~ same ue so due and payable and in default by the specific terms f?ereof or not. 16. Second party sha8 have the right, exerc~sable at its discretion so long as this mortgage is in fores and effect, to demand in writing the aasignment of and ttanster to second party, its wccessors and assigns, and first party hereby agrees to ~ so assig~n and transfer, any and aU rents, profits. royalties, incom~ or other consideration to be paid or accruing to first 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 descrbed 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 cotlect same. ii ; 17. First parry will comply with all the terms and conditions of any instrument heretofore or hereafter executed by j` ~ ~ fust puty in connection with the loan(s) secured by this mortgage. ~ 18. If firri party' (or either of them, if 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 ; ~ other debtor reliet 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 fust party, shaU have the right to declare all sums of ~ ~ money secured hereby irrurxdiately due and payable and in default whether the same are so due and payable and in default p by the specific terr~u hereof or not. . ~ ~ 19. This instrument is wbject to the Farm Credit Act of 1971 and all acts amendatory thereof and supplementary !j ~ thereto, and regulations iswed thereunder. All rights, powers, privileges, options and remedies conferred upon and g'rven to ~ second puty are cumutative of all other remedies an~ ngi~ta ni;oiwe~3 Dy iaw, ar~a ray ise p;~esuca ~a:.cusrc::iiy, o: L:~::~ - ~ 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, ~rst party herein ~ and hereunder shall extend to and be binding upon the heirs, executors, administrators, successors, and assigiis of fust party. ;I ~ IN WITNESS WHEREOF, fust party has hereunto xt his hand and seal (and if Cust party is or includes a i ~ corporation, it has caused this instrument to be executed, sealed by its corporate seal and de6vered by its duly authorized E' officers), this tt?e day and year fust above written. i' ; , ~ ~ Signe , led and Delivet ~ - ~ ~ _ ~ ~ ; . (SEAL) = in t e of•~ , ~ ~he H. Cook, Jr. ~ t ~G~ (SEAL) : . i ; ' -f- ~ ~ -(/L- (SF.~1L) ! ~ ~ iurley R. R untree, Jr. ; ' ' (SEAL) !I ; ; ; , ~ ~ ~ (SEAL) ~ i I ~ ~ (SEAL) ~ ~ ~ ~ ~ (SEAL) ; ~,R 31 p I g~~~ i A~t 2~53 ~ ~ - - - - - - _ - - - ; _ - - - - - - - - _ - -