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HomeMy WebLinkAbout1233 I gowing upon the said mortgaged premises at the time of fDit?8 suit for foredoawe hereof and thereafter, and all of the rent, 1' issues. sad profits of the said mort~sd emises unpaid sad unodkcted at the time of filing suit for foreclosure hereof and tbereafter, and upon Nina suit for f~, or at any time thereafter, second party shah be entitled to have a receiver appointed to take d~arge of the said mortgage premises and the crops sown or gowin thereon, together with the said rents, ~ issues, and profib arising therefrom and hereby assigned, sad hold the same subject to the order and duection of the court. 10. Fiat party covenants that he wrU not persona nay all which might impair or tend to impair the oontinwtion on the property herein described of all crop allotment: and acreage allotments now established or hereafter established on any of the property herein described. 11(a). In the event second party becomes a party to any legal proceeding (exduding an action to foredoee this mortgage or to collect the debt hereby secured), involving this mortgage or the premises described herein (induding but not limited to the title to the lands descdbed .above), second party may also recover of first party all cost: and expenses reasonably incurred by the mortgagee, including a reasonable attorney's fee, which costs, expenses and attorney': fee when paid by second putt' :hall become a put of the debt secured hereby and shall be immediately payable upon demand, and shall draw interest from the date of advance by second party untD paid at the highert rate provided in any note or other 3 iwtrument secured hereby. 11(b). In the event said debt. or any part thereof, is ertablished by or in any action for foredosuro of this mortgage, ~ aeoond poly may also Hoover of first party, in addition to the said debt or so much thereof a: shall be unpaid, a reasonable fee for the attorney of second partj? for professional service: rendered in such action, such fee to be incorporated in the ~ decree of foreclosure in such action. i~ 12. FIrrt poly shall hold and ere'ct' the said premises until default in payment of any of the installments as provided f I in said cote or other inrtrument secure hereby or a breach of any of the covenants or oonditior~ of said note or other 4 I instrument secured hereby 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 t purposes desired by second party. 13. All amounts that may hereafter be awarded for condemnation of, and waste and tortiow injury to, any of the ~ property hereby encumbered are hereby assigned and shall be payable unto second party for application, after payment- ~I therefrom of attorney :fees sad expenses incurred by first party and by second poly in connection therewith, on such part ~i of the indebtedness secured hereby as second party may determine, with no duty on second party to collect same. I 14. Firrt party ogees as a condition hereof that all obligations, assignments, releases of real property and/or personal liability, reamortiutions, renewals, deferment:, extensions or any other sgeement, in writing, made by any one or more of the patties harem designated ss fort party with second party zee hereby authorized and consented to by all parties herein ! designated s: first party and shall extend to and be binding upon the heirs, executors, administrators, successors and assigns ~ of all the parties herein designated as first party. f-~~~ 1S. First party agrees as a condition hereof that if a conveyance, lease or other disposition should be made p Lit -voluntarily by firrt party (or by any one a more of the parties designated herein u fast party) of any title or interest in and I! to the real property descn`bed above, or any part thereof, without the written consent of the bwful holder of thle mortgage, or if such title or interert of fast party (or of any one or more of the pubes designated herein as fast party) is involuntarily f N! f conveyed or trarisferred a: the result of oreclosure of a junior lien or is required under court order or decree as the result of '~iF'~t litigation (conveyance or transfer of title or interest resulting from death of fast party, or any of the fort parties, 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 said holler, and without notice to the fnst party, all nuns of money secured hereby shall become due and payable and in clef:alt immedntely and ooncurreatly with wch oonveyanoe, trawfer, lease or other disposition, whether the same are :o due~wd payable u~d in defiult 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 it demand in writing the assignment of and transfer to second party, its successors and assigns, and fast. party hereby agree: to so assign and transfer, any and aD rents, profits, royalties, income or other consideration to be paid or accruing to firrt party from any oD, natural gas, mineral, timber, leasehold or other interest of any kind and nature whatsoever, derived from, connected with or affecting the within dascnbed 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. Firrt party will comply with all the terms and conditions of any instrument heretofore or hereafter executed by i' fmt party in connection with the kran(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 shall at the option of second party constitute a default under any one or more or all instruments ~ ;I executed by first party to second party. 19. If fort party (or either of them, if more than one), his heirs, successors or assigns, or any asaumer of the indebtedness hereby secured, files a petition in voluntary bankruptry, for receivership, for corporate reorganization, or for other debtor relief of any duracter or kind, or is adjudged a bankrupt, then and in the event, and at the option of the second j poly, its suaxssors and assigns, the second party, without notice to the fort party, shall have the right to declue all sums of ! money secured hereby immediately due and payable and in default whether the same zee so due and payable and in default by the ~ecific terms hereof or not. 20. This instrument is subject to the Fum Credit Act of 1971.and all acts amendatory thereof and supplementuy thereto, and regulations issued thereunder. All rights, powers, privileges, options and remedies conferred upon and given to second party are cunailative 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, ofTcer, attorney or representative of second poly, its successors or assigns. All obligations of, and assiignments by, fort putt' herein and hereunder shall extend to and be binding upon the heirs, executors, administrators, successors, and assigns of firrt poly. ~ - pd WITNESS WHEREOF, fast putt' his hereunto set his hand and seal (and if fort poly is or includes a ~ corporation, it has caused this instrument to be executed, sealed by its corporate seal and delivered 6t' its duly authorized officxr:), this the day and year fort above written. S' ,Sealed and De r ~ presence o (SEAL) ul L. Mosche ~ (SEAL) E Margaret F. Moschel (S~) (SEAL) 1 (sEAI.) BOOIf~~ PAGE~U~,e~e