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HomeMy WebLinkAbout1872 J note secured hectby on the principal thereof after default and maturity, and any such sums so paid withtnterat thereon shall constitute a Gen upon card premises and be serured by this more ge and in default of immediate repayment thereof by the mortgagor after demand, the whole indebtedness stcvred here shall at the option of the mortgagee become due ~ and payable forthwith without notice. ' NTIVTH: That as further security for the paymrnt of said indebtedness and the performance of all of the terms, covenants and conditions hereof, the mortgagor does hereby mortgage. transfer, set over. assign and pledge ro the mortga the lessor's interest and estate in all leases, including but not limited ro gas, oil and mineral leases, now or hereafter affecting the said premises or any put thereof, and all rents. issues, income, profits, royalties and bonuses due and to become due there- under, and in the went of a default under any of the terms, covrnants and conditions of this mortgage the mortgaget is hereby authorized and em veered ro collect and receive all such rrnts, issues, income, profits, royalties and bonuses due and to become due and to apply the same against said indebtedness. So long, however, as there shall be no default henvnder the mortgagor shall have the right to collect uid receive any and all such rrnts, iswes, income, profits, royalties and bonuses as they respectively bemnie due and payable, and to use the same without ucounting to the mortgagee therefor. 1'EIVTH: 'Iliac as further security for the paymrnt of uid indebtedness and the performance of all of the temps, 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 grown on said premises, hereby giving and granting unto the mortgagee a first and prior lirn thereon, provided, however, that such lirn shall be and is hereby expressly made subject and subordinate to any crop mortgage covering any citrus crops which corx into exigence by bloom prior to foreclosure ale as provided by this mortgage or any annual crops planted pnor to said foreclosure sale, the provisions of paragraph Elevrnth hereof not- withstanding. Any such crop mortgage shall not however be a lirn prior to this mortgage on any citnu crop coming into being by bloom subsequrnt to said foreclosure sale, or on any annua( crop planted subsequent to said foreclosure sale. ELEVEIVT'H: 'That the mortgagee may release for such consideration, or none, u it may require, any portion of the above described land without. as to tht remainder of the security, in anywise impairing or affecting the liras and priorities herein provided for the mortgagee compared to any subordinate lienholder. - TWELFPH: Tlie net proceeds of any judgmrnt, awed or settlement in anq 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, either be applied u a credit on any portion of the unpaid balance of the note secured hereby, whether thrn matuntd or to mature in the future, or be released ro mortgagor. THIR1'EEI~TPH: 'That if the mortgagor shall default in the perfom~iance of anq of the covenants or agreenirnts herein contained, or if an owner of said premises shall file a petition seeking an amngemrnt or composition or extrnsion or any other relief under or pursuant to the Federal Bankruptcy Act or any other similar statute u now or hereafter in effect, or shall be adjudicated bankrupt or insolvrnt or anv of his property shall have been sequestered and such decree shall have continued undischarged and unstayed for ninety days after the rntry thereof, the rntire indebtedness hereby secured, includ- ing all payments for taxes, assessments, insurance premiums, liens, attorneys' fees and expenses herein specifiedt shall, at the option of the mortgagee, and without notice ro the mortgagor, be due and collectible at once by foreclosure or otherwise; and, txcept u to property where such provision is prohibited by law, upon commrncement of any foreclosure or at any time ~ thereafter the mortgagee, as a matter of right, without consideration of the valor of the premises, or whether the property is probably insufficient to dischuRe the mortgage debt or is in danger of being lost or removed or injured, and irrespective of the solvenq or insolvrncv of the mortgagor or the thrn owner of uid premises, and without notice to the mortgagor or any person claiming andtr him, shall be rntdled at once to the appointmrnt of a receiver for uid 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 said receiver towed the paymrnt of the indebtedness secured by this mortgage, or towed the paymrnt of such part of the judgmrnt rrndered thereon u may remain unutisfied after the ale of uid premises, or ro repay to the mortgagee any advancemrnts which uid mortgagee maq make after the commencement of foreclosure cation for taxes, assessments, insurance or other charges as herein provided, together with interest thereon at the same rate as specified in said note secured htreby on the principal thereof after default and maturity, and from the proceeds of uid receivership uid receiver maq make necessary repairs and keep said premises in proper condition and repair pending such ale, and pay all taxes and assessmrnts ucrued or ucruinq or redeem from ales therefor and pav insurance premiums necesury ro keep uid premises insured in ucoidance with the provisions of this mortgage, and pay other proper charges as herein provided, and pay the expense of the receivership. FOUR'T'EENTH: in case this mortgage be foreclosed 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 as follows: First. to the expenses incurred hereunder, i second, ro a reasonable attorney's fee for such services as may be neresurv for the collection of uid indebtedness and the foreclosure of this mortgage: third, to the payment of whatever sum or sums the mortgagee may have paid or become liable to pay in curyinq out the terms and stipulations of this mortgage, together with interest thereon: and finally to the payment and utisfaction of uid note. The balance, if any, shall, unless the Court decree otherwise, be paid into the registry of the Court having jurisdiction of uid foreclosure suit, to abide the further order of uid Court. FIFTEENTH: That the mortgagor is lawfully seized of uid premises in fee simple and hu good right and lawful authority to sell and convey the same, that the same zee free from encumbrances except u aforeuid, that it shall be lawful for the mortgagee at all times, peaceablq and quietly to rnter upon, hold, occvpq and enjoy said premiss and every part thereof, that the mortgagor will execute or procure any further necesury uwrances of title and does hereby forever warrant grnerally the title ro said premises and will forever defrnd the same agamst the claims and demands of all persons whomsoever, and the mortgagor and the makers of uid note especiallq agree and declare ?hat the separate estate of each of them, whether vested, contingent or in expectanctir, is hereby conveyed and shall be bound for the pavmrnt of the debt hereby secured and each does hereby expressly waive, release and relinquish all rights and brnefits of anq homestead, appraisemrnt, txemption or stay to which they may be rntitled under the laws of the state in which uid premises are situate, together with all dower or cvrtesy ~ rights, and all interests and estates, statutory and otherwise and of every nature whatsoever m and to uid premises. SIX'T'EENTH: That the Riving of writtrn notice addressed to the owners of record of said premises or addressed to the said owners at their last address actually famished to the mortgagee, or addressed ro the owners at said premises, and