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HomeMy WebLinkAbout1132 - , l - ' growing upon the said mortgaged premises at the dine of filing suit for foreclosure hereof and thereafter, and aQ of the rents, issues, and profits of the said mortgaged premises unpaid snd uncollected at the time of filing suit for foreclosure hereof and i therwfter, and upon filing suit for foreclosure, or at any tune therwfter, second poly shall be entitled to have a receiver appointed to take chuge of the said mortgage premises and the crops sown or growing thereon, together with the said rents, iswes, and profit: arising therefrom and hereby assigned, and hold the same subject to the order and duection of the rnurt. 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 tha 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 poly may also recover of fiat 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 poly 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 nee provided in any note or other j instrument second hereby. 11(b). In the event said debt, or any put thereof, is established by or in any action for foreclosure of this mortgage, second poly may also recover of fast poly, in addition to the said debt or so much thereof as shall be unpaid, a reasonable fee for the attomey of second party for professional services rendered in such action, such tee to be incorporated in the j decree of foreclosure in such action. 12. First party shall hold and enjoy the said premises until default in payment of any of the installments ss 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 herby or this mortgage shall be made; however, any agent or employee of second party or any person designated by second poly may enter upon said premises at any time for the purpose of inspecting same or for any other purposes 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 encumbered ue 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 put of the indebtedness secured hereby as second party may determine, with no duty on second puty to collect same. I4. First poly agrees as a condition hereofthat all obligations, assignments, releases of real property andjor personal liability, namortizations, renewals, deferments, extensions or any other agreement, in writing, made by any one or more of the pubes herein designated as fast poly with second party ue hereby authoriud and consented to by all parties herein designated as fiat party and shall extend to and be binding upon the hero, executors, administrators, successors and assigns of all the parties herein designated as first poly. ~ ' 15. First poly agrees as a condition hereof flat if a conveyance, lease or other disposition should be made voluntarily by lust putt' (ot by any one or more of the polies 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 such title or interest of fast party (or of any one or more of the parties designated herein as fast poly) i; 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 litigation (conveyance or transfer of title or interest resulting from death of fast party, or any of the fast pubes, 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 fast putt', all sums of money secured hereby shall become due and ~ p~ayabk and in default immedutely and concurrently with such conveyance, transfer, lean or other disposition, whether the same ue so due and payable and in default by the specific terms hereof or not. 16. Second party shall have the right, txercisable at its discretion so long as this mortgage is in force and effect, to demand in writing the assignment of and transfer to second putt', its successors and assigns, and first poly 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, minenl, 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 collect same. 17. Fiat poly will comply with all the terms and conditions of any instrument heretofore or hereafter executed by ~ fast putt' in connection with the loan(s) secured by this mortgage. 18. A default under this instrument or under any other instrument heretofore or hereafter executed by first party to second party sha}I at the option of second party constitute a default under any one or more or all instruments executed by first party to second party. 19. If first party (or either of them, if more than one), his heirs, successors or assigns, or any assumer of the indebtedness hereby secured, files a petition in voluntary banluuptcy, 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 putt', its successors and, assigns, the second party, without notice to the lust party, 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 terms hereof or not. 'j 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 ~I second putt' are cumulative of all other remedies and rights allowed by law, and may be pursued 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 putt', its successors or assigns. All obligations of, and assignments by, first party herein ~1 and hereunder shall extend to and be binding upon the heirs, executors, administrators, successors, and assigns of lust party. IN WITNESS WHEREOF, fast party has hereunto set his hand and seal (and it fast poly 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 first above written. !i Signed, Sealed and Delivered j in the presence of: STRAZZULLA BROS. CO. , INC. ~ ~I _ b (SEAL) J eph Strazzulla, P ident- . a 5 t~i"~/1L) ' ~ Attest• ~ Q ~ John P. Strazzulla, Se etarq JJ;~ (SEAL) i~ it (SEAL) (SEAL) ~ - a~~x3z1 P~~E1131 II