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HomeMy WebLinkAbout0726 • note secured hereby oa the prindpal thereof after default and maturity, and any such sums so paid with interest thereon shall constitute a lien upon said premises and be secured by this mortgage and in default of immediate repaymrnt thereof by the mortgagor after demand, the whole indebtedness secured hereby shall u the option of the mortgagee become due and payable forthwith without notice. NINTH: That as further securiq for the pa t of said indebtedness and the performance of all of the terms, covenants and conditions hereof, the aadgagor does h r~eby mortgage. transfer. set over, assign and pledge to the mortgagee the lessor's interest and estate in all leases. ~ncludin$ but not limited to gas, oil and mineral leases, now or hereafter affecting the uid premises or any part thereof, and all rents, issues. income. profits. royalties and bonuxs due and to b«ome due there- uader, aad is the event of a default under any of the terms, covenants and conditions of this mortgage the mortgagee is hereby authorized and em red to collar and receive all such rrnts. issues, income, profits, royalties and bonuses due and to b«ome due and to apply the same against said indebtedneu. So long, however, as there shall be no default hereunder the mortgagor shall have the nght to collect and receive any and all such rrnts, issues, income, profits. royalties and bonuses u thry respectively become due and payable, aad :o use the same without aaounting to the mortgagee therefor. 1'E1VTH: 'I1tat as further security for the payment of uid indebtedness and the performance of all of the terms, covenants and conditions hereof the mortgagor does hereby mortgage, transfer, set over, assign and pledge unto the mortgagee all citrus and other crops now growing and hereafter gro.m on said premises, hereby giving and granting unto the mortgagee a first and prior lirn thereon, provided. however, that such lien shall be and is hereby expressly made subject and subordinate to any crop mortgage covering any citnu crops which corx into existence by bloom prior to foreclosure sale u provided by this mortgage or any annual crops planted pnoi to uid foreclosure ale, the provisions of puagraph Eleventh hereof not- withstanding. Any such crop mortgage shall not however be a lirn prior to this mortgage on any cdrus crop coming into bring by bloom subsequent to uid foretlowre salt, or on any annual crop planted subscyucnt to uid for«losurc sale. ELEVENTH: That the mortgagee may rekax for such consideration, or none, as it may require, any portion of the above desuibed land without. as to the remainder of the security, in anywise impairing or aff«ting the liens and priorities herein provided for the mortgagee compared to any subordinate lienholder. TWELFTH: The net proceeds of any judgment, awud or settlement in any condemnation or other proceeding for any damage to the premises, buildings or other fixtures thereon shall be paid to the mortgagee and shall at its option, ether be applied as a credit on any portion of the unpaid balance of the note secured hereby, whether thrn matured or to mature in the futon, or be released to mortgagor. THIRTEENTH: 'That if the mortgagor shall default in the performance of any of the covnnants or agreements herein contained, or if an owner of said premises shall file a petition seeking an arnngemrnt or composition or extrnsion or any other relief under or pursuant to the Federal Bankruptcy Act or any other similu statute u now or hereafter in effect, or shall be adjudicated bankrupt or insolvrnt or any of his property shall have bern sequestered and such decree shall have j continued undischuged and unstayed for ninety days after the rntry thereof. the rntire indebtedness hereby secured, includ- ~ ing all paymrnts for taxes, assessments, insurance premiums, liens, attorneys fees and expenses herein sp«ified, shall, at the I option of the mortgagee, and without notice to the mortgagor. be due and coliectibte at once by for«losurc or othcrwix; E and, except as to property w~herc such provision is prohibited by law, upon commencemrnt of any foreclosure or at any time l thereafter the mortgagee, as a matter of right. without consideration of the value of the premises, or whether the property is probably insufficirnt to discharge the mortgage debt or is in danger of being lost or removed or injured, and irresped~vc of the solvency or insolvency of the mortgagor or the thrn owner of uid premixs, and without notice io the mortgagor or y any person claiming under him, shall be rntitled at once to the appointmrnt of a r«eiver for said premises, to collect the rrnts, issues and profits therefrom during the prndency of such foreclosure, and the proceeds of uid receivership shall be applied by uid r«eiver toward the paymrnt of the indebtedness secured by this mortgage, or toward the paymrnt of such pad of the judgment rendered thereon as may remain unutisfied after the ale of uid premises, or to repay to the mortgagee any advancemrnts which uid modgagee may make after the commencement of for«losurc action for taxes. assessments. insurance or other charges as herein provided, together with interest thereon at the wine rate u specified in said note secured . hereby on the principal thereof after default and maturity, and from the proceeds of uid r«eivership said receiver rruy make necesury repairs and keep said premises in proper condition and repair prndinq wch ale, and pay all taxes and assessments uccued or ucruing or redeem from sales therefor and pay insurance premiums n«esury to keep uid premises insured in ucordance with the provisions of this modgage, and pay other proper charges u herein provided, and pay the exprnse of the receivership. FOURTEEN'T'H: In case this mortgage be for«losed by a suit in equity and the mortgaged premises be sold to utisfy a decree of foreclosure, the proceeds of such ale shall be applied u follows: First. to the expenses incurred hereunder; s«ond. to a reasonable attorney's fee Eor such xcvices u may be n«esurv for the collection of uid indebtedness and the foreclosure of this mortgage: third, to the paymrnt of whatever sum or sums the mortgagee may have paid or become liable to pay in atrying out the terms and stipulations of this mortgage, together with interest thereon: and finally to the r payment and satisfaction of uid note. 'The balance, if any, shall. unless the Coud d«ree other.vix, be paid into the registry of the Coed having jurisdiction of uid for«lowre suit, to abide the further order of uid Court. FTFTEI?IV'I'H: That the mortgagor is lawfully seized of said premises in fee simple and has gtxid right and lawful authority to x11 and convry the same, that the same zee free from rncumbranca except u aforesaid, that it stall be lawful for the modgagee at all times, peubbly and quietly to rnter upon, hold, occupy aAd rnjoy said premises and every part thereof, that the modRagot will execute or procure any further n«esury uwrances of title and does hereby Forever warrant generally the title to urd premises sod will forever defend the same agamst the claims and demands of all persons whomsoever, and the mortgagor and the makers of said note esp«ially agree and d«lue -hat the separate estate of rah of them, whether vested. contingrnt or in exPe'cvM7, is hereby conveyed and shall be bound for the payment of the debt hereby secured and each does hereby expressly waive, releax and relinquish all rights and benefits of any homestead, appraiscmcnt, cxcmt~tiun or stay to which they may be entitled under the laws of the state in which said premises arc situate, together with all dower or curtest' rights, and all interests and estates, statutory and othcrwix and of every nature whatWrcvcr ~n anal to said l~rcynicc~s. SIXTEENTH: That ttx giving of writtrn notice addressed to the owners of r«ord of uid premixs or addressed to the uid owners at their last address actually famished to the mortgagee, or addressed to the owners at uid premises, and