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HomeMy WebLinkAbout0711 _ growing upon the said mortgaged premises at the time of filing suit fa torecloaure hereof and thereafter, and all of the rents, iuues, and profits of the said tnoctgaged premises unpaid and uncollected at the time of filing suit for foreclosure hereof and thereafter, and upon filing wit for foredo:sire, 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 growing thereon, together with the said rents, iswes, and profits wising therefrom and hereby assigned, and hold the sarrle wbject to the order and direction of the court. 10. First poly 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. ' I1(a). In the event sernnd party bernmes a poly to any legal proceeding (excluding an action to foreclose this mortgage or to collect the debt hereby secured), involving this mortgage or the premises described herein (including but not limited to the title to the lands described :hove), second party may also recover of flrst party aU costs and expenses reasonably incurred by the mortgagee, induding a reasonable attorney's fee. which costs, expenses and attorney's fee when paid by second poly shall bernme s put of the debt secured hereby and shall be immedately 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 j 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 poly may also recover of lust poly, in addition to the said debt or so much thereof u shall be unpaid, a reasonable fee for the attorney of second party for professional services rendered in such action, wch tea to be incorporated in the decree of foreclosure in wch action. 12. First party 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 poly may enter upon said premises at any time for the purpose of inspecting same or for any other purposes desued 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 ue hereby assigned snd shall be payable wto second poly for application, after payment therefrom of attorney's fees and expenses incurred.by first party and by second party in connection therewith, on wch put of the indebtedness secured hereby as second party may determine, with no duty on second puty to collect same. 14. First poly agrees u a condition hereof that all obligations, assignments, releases of real property and/or personal liability. reamortizations, renewals, deferments, extensions of any other agreement, in writing, made by any one or more of the polies herein designated as fast poly with second party ue hereby authorized and consented to by all parties herein ! designated as first poly and :full extend to and be binding upon the heirs, executors. administrators, wccessors and assigns of all the parties harem designated as lust party. ' 1S. First poly agecs as a condition hereof that it a conveyance, lease or other disposition should be made r . • . ±,1, voluntuily by lust party (or by any one or more of the parties designated herein as lust party) of any title or interest in and to the real property described above, or any part thereof, without the written consent of the lawful holder of this mortgage, or if such title or interest of lust poly (or of any one or more of the pubes designated herein as lust poly) is involuntarily conveyed or transferred as the result of [oreclasure of a junior lien or is required under court order or decree as the result of litigation (conveyance or transfer of title or interest resulting from death of first party, or any of the lust pubes, if more clan 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 fast poly, cell sums of money secured hereby shall become due and ~ payable and in default immediately and concurrently with such conveyance, transfer, leax or other disposition, whether the j 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 party, its successors and assigns, and lust party 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 gu, 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 xcured by this mortgage, with the right of, but no duty upon, second party, its successors or assigns, to collect same. 17. First party will comply with cell the terms and conditions of any instrument heretofore or hereafter executed by fast poly in connection with the loan(s) secured by this mortgage. ~ i8. A default under this instrument or under any other instrument heretofore or hereafter executed by first I party to second party shall at the option of second party constitute a default under any one or more or all instruments executed by first party to second party. 19. If first party (or either of them, if more than one), his heirs, successors or assigns, or any assumer of the j indebtedness hereby secured, files a petition in voluntary bankruptcy, for recen;ership, 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 ' poly, its successors and assigns, the xrnnd party, without notice to fire lust party, shalt have the right to declue all wms 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 terms hereof or not. j 20. This instrument is wbject to the Farm Credit Act of 1971 and al! acts amendatory thereoi and supplementary thereto, and regulations issued thereunder. All rights, powers, privileges, options and remedies conferred upon and given to xcond party are cumulative of all other remedies and rights allowed by law, and may be pursued concurrently, and shall i extend to and may be exercixd and enjoyed by the successors and assigns of second party, and by any agent, officer, ~ attorne or re resentative of second art its wccessors or asst s. All obli lions of, and asst ments b ,lust art herein ! Y P P Y. gn 8a Bra Y P Y and hereunder shall extend to and be binding upon the heirs, executors, administrators, successors, and assigns of fast party. i i 1N WITNESS WHEREOF, fast party has hereunto set his hand and seal (and if fast party is or indudes a j corporation, it has cauxd this instrument to bt executed, xaied by its corporate xal and delivered by its duly authorized i~ officers), this the day and year fast above written. ! «f •Signed, Sealed 2elivered ~ 111 the piCae a O~: ~ r~ / i' ti ~ G~ (SEAL) r~y •t ~ Judi; h Huff McCabe I / .~1,2 r-- ~ % ~ . ~ (SEAL) !--r-~ - f ~ ~ _ _ (SEAL) (SEAL) (SEAL) 1 i ; ~ (SEAL) X343 ?10 _ - t _ _ -y.