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HomeMy WebLinkAbout1440 i i growing upon the said mortgaged premises at the time of filing suit for foreclosure hereof and thereafter, and all of the rents, issues, and profits of the said mo d premises unpaid and uncollected at the time of (ding suit for foreclosure hereof and therwfter, and upon filing suit for foracMswe, or at any time therwfter, second party shall be entitled to have a receiver ~ appointed to take chugs of the said mortgage premise: and the crops sown or growing thereon, together with the said rents, issues, and profit: wising therefrom and hereby assigned, and hold the same subject to the order and duection of the court. , 10. First putt' covenants that he will not perform any act which might impair or tend to impair the continwtion on the property herein described of all crop allotment: and acreage allotments now established of hereafter established on any of the property herein described. 11(a). In the event second party becomes a party to any kgal proceeding (excluding an action to foreclose this ~ mortgage or to collect the debt hereby secwed), involving this mortgage or the premises described herein (including but not limited to the title to the lands described above), second party may also recover of fast party all costs and expenses reasonably incurred by the mortgagee, induding a reasonabk attorney's fee, which costs, expenses and attorney's fee when paid by second putt' shall become a put of the debt secured hereby and shall be immediately payable upon demand, and 'll shall draw interest from the date of advance by second putt' until paid at the highest rate provided in any note or other instrument secured 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 putt' may also recover of fast party, 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, such fee to be incorporated in the decree of foreclosure in such aMion. 12. First putt' shall hold and enjoy the said premises until default in payment of any of the installments as 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 hereby or this mortgage shall be made; however, any agent'or employee of second party or any person designated by second puty may enter upon said premises at any time for the purpose of inspecting.. same or for any other pwposes desired by second putt'. 13. All 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 appliation, after payment therefrom of attorney s fees and expenses incurred by first party and by second poly in connection therewith, on such put of the indebtedness secured hereby as second party may determine, with no duty on second putt' to collect same. i 14. First party agrees as a condition hereof that all obligations, auignments, releases of real property and/or personal i liability, reamoctizations, renewals, deferments, extensions or any other agreement, in writing, made by any one or more of ~ the parties herein designated as fast putt' with second party ue hereby authorial 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 aasigrrs ~ of all the parties herein designated as first party. 15. First poly agrees as a condition hereof that if a conveyance, Iwse or other disposition should be made ' [1' ~ ' voluntuily by fast putt' (or by any one or more of the pules designated herein as lust party) of any title or interest in and 'i ~1'. to the real property described above, or any part thereof, without the written consent of the lawful holder of this mortgage, T ~ I~ . t~ . C . or if such titk or interest of fast putt' (or of any one or more of the pubes designated herein as fast putt') is involuntarily conveyed or transferred as the result of foreclosure of a junior Gen 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, J 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 holder, and without notice to the lust poly, all sums of money secured hereby shall become due and payable and in default immediately and concurrently with such conveyance, transfer, lease or other disposition, whether the sarrre 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 party, its successors and assigns, and fast putt' 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. 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 subject to, conveyed andJor secured by this i " mortgage, with the right of, but no duty upon, second party, its successors or assigns, to collect same. 17. First party will comply with all the terms and conditions of any instrument heretofore or hereafter executed by fast putt' in connection with the loan(s) secwed by this mortgage. f ~ 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 E executed by first party to second party. 19. If fast 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 bankruptry, 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 j ~ by the specific terms hereof or not. a 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 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, attomey or representative of second poly, its successors or assigns. All obligations of, and assignments by, fast putt' herein and hereunder shall extend to and be binding upon the heirs, executors, administrators, successors, and assigns of fast party. IN WITNESS WHEREOF, first poly has hereunto set his hand and seal (and if lust party is or indudes a i 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 fast above written. ~:a: /a X21.. ~~,,~~.1f'G, h~~; ' CASSENS :GROVE SERVICE, IN~.~ ~y • ~ ` ;'r Signed, Sealed and DeGv+ered _ i~: c in the esenoe of: ? w * Kenneth D. Cassens Presi • .P • ~ ATTEST: c~iyyt cc. ~ ~ ct'_-:~-t2-t-+~.;d.~ (SEAL) No a F. Cassens, Secretary (SEAL) (SEAL) 8~K 33~ ~A~E X438 (SEAL, - -