HomeMy WebLinkAbout0623 gages or debts secured thereby, or if the Mortgagor,. without first
obtaining the written consent of the Mortgagee, shall grant, bar-
gain, sell or convey ,the Mortgaged~Premises or any part thereof,
including timber, then on the happening of any one or more of these
events, this conveyance shall become absolute and the whole indebted-
ness secured hereby shall immediately become due and payable at the
option of the Mortgagee and this Mortgage may thereupon be fore-
closed for the whole of said money, interest and costs, or Mortgagee
may foreclose only as to sums past due without injury to this Mort-
gage or the displacement or impairment of the remainder of the lien
thereof, and at such foreclosure sale the property shall be sold
subject to all remaining items of indebtedness and the Mortgagee
may again foreclose in the same manner as often as there be any
sum past due.
10. If at any time after default by Mortgagor a receivership
maybe necessary in the opinion of Mortgagee to protect the lien
hereof, or at the time of or after the institution of suit to
collect the indebtedness hereby secured, or to foreclose. this
Mortgage, Mortgagee shall, as an admitted equity and as a matter
of strict right and regardless of the value of the property, or
the solvency or insolvency of Mortgagor or any party. bound for the
payment of the indebtedness have t_he right to the appointment, on
ex parte application and without notice to anyone, by any proper
court having jurisdiction, of a receiver, which receiver shall
have all of the broad and effective powers and functions in any
wise entrusted by the court to~a receiver, to take charge~of,
manage, preserve, maintain, care for and protect the Mortgaged
.Premises and to collect rents, issues, proceeds, produce, profit,
income and revenues of the Mortgaged Premises from whatsoever
source derived; to make all necessary or needful repairs and to
provide for the Mortgaged Premises as set forth in paragraphs 5
and 6 above, and to market the products thereof and receive and
collect the proceeds thereof and such receivership shall, at the'
option of Mortgagee, continue until the full payment of all sums
hereby secured, or until title to the Mortgaged Premises shall
have passed on sale under a foreclosure of this Mortgage.
II 11. Should Mortgagor and Mortgagee hereafter enter into any
agreement modifying or changing the terms of this Mortgage or the
i note secured hereby in any particular, the rights of the parties
to such agreement shall be superior to the rights~of the holder
of any intervening lien or encumbrance.
i 12. Without affecting the liability of any person (other-than
any person released pursuant hereto) for payment of any indebted-
ness secured hereby, and without affecting the lien hereof upon
any property not released pursuant hereto, Mortgagee may at any
time and from time to time, without notice: -
(a) Release any person liable for payment~of any
indebtedness secured hereby.
(b) Renew the indebtedness, or extend the time, or
~ agree to alter the terms of payment of any of the in-
debtedness.
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(c) Accept additional security of any"kind.
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(d) Release any property securing the indebtedness.
(e) Consent to the making of any map or-plat of the
Mortgaged Premises, or the creation of .any easements thereon
or any covenants restricting use or occupancy thereof. - -
I3. If the indebtedness secured hereby is now or hereafter
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