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HomeMy WebLinkAbout0479 i - ~ - - ~ a l growing upon the said mortgaged prtnrlses at the tirtl4-of'~Iling suit for foreclosure hereof and thereafter, and all of the rents, issues, and profits of the said mortgaged premises unpaid and uncollected at the time of (ding suit for foreclosure hereof and thereafter, and upon filing suit for foreclosure, or at any time thereafter, second party shall be entitled to have a receiver appointed to take chuge of the said mortgage premises and the crops sown or glowing thereon, together with the said rents, issues, and profits arising therefrom and hereby assigned, and hold the same wbject to the order and direction of the court. 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. I!(a). In the event second party bernmes a patty to any legal proceeding (excluding an action to foreclose this mortgage or to collect the debt hereby secured), involving this mortga or the- remises described h e' ' limited to the title to the lands described above second ~ p e[ in (mcludmg but not party may also recover of first party all costs and expenses reasonably incurred by the mortgagce, inducting a reasonable attorney's fee, which costs, expenses and attorney's fee when paid by second puty shall become a part of tht debt secured hereby and shall be immediately payable upon demand, and shall draw interest from the date of advance by second poly until paid at the highest rate provided in any note or other instrument secured hereby. I1(b). In the event said debt, or any part thereof, is established by or in any action for foreclosure of this mortgage, ; second puty may also recover of lust patty, in addition to the said debt or so much thereof as shall be unpaid, a reasonable fee for the attorney of second party for professional services rendered in such action, wch fee to be incorporated in the decree of foreclosure in such action. IZ. First poly shall hold and enjoy the said premises until default in payment of any of the installments as provided ~ tR said note or other instrument secured hereby or a breach of any of the covenants or conditions of said note or other instrument secured hereby or this mortgage shall be made; however, any agent or employee of second poly or any person designated by second poly may enter upon said premises at any time tot the purpose of inspecting same or for any other I pwposea desired by second party. 13. All amounts that may hereafter be awarded for condemnation of, and waste and tortious injury to, any of the ~ property hereby encumbered are hereby assigned and shall be payabk unto second party for application, after payment therefrom of attorney s fees and expenses incurred by fusf party and by second party in connection therewith, on such part of the indebtedness secured hereby. as second party may determine, with no duty on second poly to collect same. !i 14. First party agrees as a condition hereof that all obligations, assignments, releases of real property andjor personal 'I liability, reamortizations, renewals, deferments, extensions or any other agreement, in writing, made by any one or more of i j'; the pubes herein designated as fast party with second party ue hereby authorized and consented to by all parties herein designated as fast party and shall extend to and be binding upon the heirs, executors, administrators, successors and assigns of all the parties herein designated as fast party. 15. First poly agrees as a condition hereof trot if a conveyance, lease or other disposition should be made voluntarily by lust party (or by any one or more of the parties designated herein as fast party) of any title or interest in and j to the real property described above, or any p$rt thereof, without the written consent of the lawful holder of this mortgage, or if such titk or interest of fast party (or of any one or more of the parties designated herein as fast puty) is involuntarily conveyed or transferred as the result of foreclosure of a junior lien or is required under court order or decree u the result of litigation (conveyance or transfer of title or~interest resulting from death of fast party, or any of the first parties, if more than one, excepted), without the writleri consent of the 1awfW holder of this mortgage, then and in either of said events, and at the option of said holder, and without notice to the fast putj?, all sums of money secured hereby shall become due and payable and in default immediately and concurrently with such conveyance, transfer, kase 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, exercisable at its discretion so long as this mortgage is in force and effect, to demand in writing the assignment of and transfer to second puty, its successors and assigns, and fast puty hereby agrees to I j so assign and transfer, any and alt rents,. profits, royalties, income or other consideration to be paid or accruing to fast 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 wbject 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. First puffy will comply with all the terms and conditions of any instrument heretofore or hereafter executed by lust puty in connection with the loan(s) secured by this mortgage. 18. 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 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 party, its successors and assigns, the second party, without notice to the fast 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 terr[~t hereof or not. f 19. This instrument is subject to the Farm Credit Act of 1971 and all acts amendatory thereof and supplementary thereto, and regulations issued thereunder. All rights, powers, privileges, optans and remedies conferred upon and given to second poly 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 wccessors and assigns of second puty, and by any agent, officer, attorney or representative of second party, its successors or assigns. AU obligations of, and assignments by, fast party herein and hereunder shall extend to and be binding upon the hews, executors, administrators, successors, and assigns of fast poly. IN WITNESS WHEREOF, fast party has hereunto sot his hand and seal (and it lust party is or indudes a ~ corporation, it has caused this instrument to be executed, sealed by its corporate seal and delivered by its dWy authorized ! - ' omcers), this the day and year fast above written. ~ t Signed, Sealed and Delivered ~ , sa~~~V ' esenee o • SEAL) Richard S, Pike (SEAL) (SEAL) (S~-) ~ , (SEAL) , i _ (SEAL) j (SEAL) ~~~'i2'3 P~ 4T9 .