The URL can be used to link to this page

Home My WebLink About2903 - ~ ' r I ~ro~vina upon the ~id mortpaed pnmites at the tur?o of Nin6 wit for foreclosure hereo[ and thereafter, and sll of the renta, iuue~. and proflu of the ~id moctpgedp~emises unp~id and uncollected at the time of fding wit tor foreclosuce hereof and thereafter~ and upon tllina wit foc forecbsuce, or at any time tlureafter, seoo~d puty shall be entitled to have a reaiver i) appointed to take ct~ar6e of the aid moctg~e~ premiset and the crop: sowa or ~rowing thereon. together with the said rents, ~ iuues. and prolit: uLing therefrom and hereby s:sianed, aad hold the iame wbject to the orde~ and d'uection of the oourt. i~ 10. Fir:t puty oov~enants-that he will not pedorm any a~t which might impair or tend to impair the continwtion on ~ the property herein desctibed of all crop allotment: and acresge? aUotment: now estabGshed or hereafter established on any of ~ the property herein described. ~ 11(a). In tha event stcond puty becom4: a puty to any kgal proceedins (excluding an action to foreclo~e this ;I mortgage or to oollect the debt hereby secured). invdvina tlw mortgage or the premise: described herein (including but not ; limited to the tlde to the lands described abovo), ~eoond puty may also recover of fint party all oosts and expenses ! reuonably incurred by the mortgsga, induding a na'onabk attaaey': fee, which coats, expenses snd attocney's fee when i p~id by seeond puty shaU become a put of the debt secured hereby and shall be innmediately payable upon demand, and a shall dnw interest' from the date of advana by second puty until paid at ihe highest rate provided in any note or othcr instrumant secured hereby. 11(b). In the event said ckbt. or any put thenof, i~ established by or in any actioa for foceclosure of this mortgage. second puty may al~o reoover of first party. in addition to the said debt or so much thareof ~s shall be unpaid, a reasonable fee for the attorney of seoond puty ior profeaional ~rvices rendered in mch action. wch fa to be incorponted in the ~ decree of toreclown in wch sction. ; 12. Firstput y shaU hold and enjoy the said premises until default in payment of any of the installments as provided j in ~id note or otl?er instrument secured hereby or a breach of any of the cov~enants a oonditioru of :aid note or other ~I inatrument ~ecwed hereby or this mortgage s1W1 be made; howev~er, any agent or employee of seoond party or any person deaignated by second party may enter upon said premisa at u?y time for the purpose of uupecting same or for any other I,~ purpo~es desired by ~econd party. y 13. All amounts that may t~reafter be awuded for condemnation of, and waste and tortious injury to, any of the ~ property henby encumbered aze hereby assigned and shall be payable unto second pacty for application, after payment ~ therefrom of attomey's fees and expen~es incurred by first party aad by second put~r in oonnection therewith, on wch put 'i of the indebtedness sec~ued hereby as second party may determine, with no duty on seoond party to oollect urne. I1( 14. Futt puty sgtes u a condition hereof that all obligatioAS. auigtunents. releas~s of real property and/or personal i lisbility, reamortizations, renewals, deferments. extensions or any other ag[eement, in writing, made by any one or mon of the putia herein designated u fust party with seoond puty ue hereby authoriud and consented to by all parties herein ii desigaated as first puty and shall extend to md be binding upon the hein. executas~ administrators. succssson and usigns i~ of all the parties herein daignated u first puty. 15. First puty agrees u a condition hereof tt~at it s conreyance, lase or other disposition should be made v~oluntuily by tust puty (or by any one or more of the parties daig~uted herein as first party) of any tide or interest in and to tha real property described above, or any psrt thereof, without the written consent of the lawful holder of this mortgage, ~ ~ or if such titk ot interest of fust puty (or of any one or more of the puties designated herein u first puty) is inv~oluntarily oonveyed or transfernd as the rault of foreclosure of a junior lien a is required under oourt order or decra as the rault of ; litigation (coaveyana or transfer of titk ot interat resulting from death of first puty. or any of the fust putia, if more ~ I~ than one. exapted). without the aritten oonsent of the lawful holder of this mortpge, then and in either of said events, md , at the option of :aid holder, and without notia to the firri puty, aU sums of money secured hereby ahatl beoome due and { payabk and in default immediately and ooncurrently with such oonveyana, transfer, kase or other disposition, whether the ~ ' sarne ue so due and payable and in detault by the specific terms hereof or not. ; ; 16. Second puty shall have the rigiit. exercisable at its discretion so long as this mottgage is in force and effect, to ~ ! demand in writing the assigr?ment of and transfer to second puty. its succcuors and assigns. and first puty hereby agrees to ~ ',i', so as~tign and transfer, any and a0 renta~ profita, royalties, income or other consideration to be paid or acccuing to Pvri party ~ ; from any o~, natunl gu. mineral, timber, kasehold or other interest of any kind and nature whatsoever, derived from. , ; oonnected with or affecting the arithin descnbed real property but not otherwise subject to, oonveyed and/or secured by this ; i i mortgage, with the right of, but no duty upon. xcond party, ita successors or assigns, to collect s~me. j 17. Fint puty will oomply with all the terms and conditions of any instrument heretofore or hereafter.executed by ~ first puty in oonnection with the loan(s) secured by this mortgage. ~ ~ 18. A default under this instrument or under any other instrumem heretofore or hereafter executed by first ~ ~ party to socond party shall at the option of second party const~tute a default under any one or more or all instruments ~ executed by first party to second party. , 19. 1! fust party (or either of them~ if more than one), his heirs, successors or assigns, or any assumer of the ; indebtedness hereby secured, fdes 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 guty, its sucasaon and asaigns, the second party, without notice to the fint puty, shall have the right to declue all sums of money secured hereby immediately due and payable and in default whether the same are so due and payable and in default by the specific ter~ hereof or not. I~ ~ 20. This instrument is subject to the Fum Credit Act of 1971.and all acts amendatory thereof and supplementary thereto, and regulations issued thereunder. All rights, powers, privileges, options and remedies conferred upon and given to ~ second Quty are cumulative of all other remedies and rights allowed by law, and may be pursued concucrently, and shaU ~ extend to and may be exercind and enjoyed by the wcceuors and assigns of second party, and by any agent, officer, attornay or represenutive of ~econd puty, its wccessors or assigns. All obligations of, and assignments by. !`ust puty herein ~ and hereunder shall extend to and be binding upon the heirs, executors. administntors, succeuors, and assigns of fust party. ! ~ IN WITNESS VYt~REOF, Pust puty has hereunto xt his hand and seal (and if fust puty is or includes a I ~ corporriion. it has cauxd this instrument to be executed, xaled by its corporate seal and delivered by ita duly authuriud { ~ officers), this the day and year fust above written. ~ ~ ~ . ~ S~ d. Sealed and vered J. V. D' ALBO C ANY ~ in the praen of: ~ ; ; - BY ' - ~ ~ e ~ ~ ~ - ? (SEAL) $ ~ / .Jdhn V. D'Albora, Jr., Pr~si nt ~ ~ , ~ ~ ~ . < _ _ • -(SF.AL) ~ ~ t~ ~r ~ ~ ATTE~T t / + ` - • ' ' (SEAL) ~ Noretta C. D'Albora, Secretary ~ ~ (SEAL) I ~ g . ~ ~ ; (SEAL) i ~ ~ . ~Lk~1 ~11 rAG; ~~O (SEAL) ~ ,