HomeMy WebLinkAbout0028giowing upon th~ said mortgaged premises at the time ot fding suit for foreclosure hereof and thereafter, and all of the rents,
i:suea. and profits of the said mortgaged premises unpaid and uncoUected at the time of filing suit fo: foceclusure hereoi and
thereafter. and upon filing suit for foteclosute, or at any time thereaCter, second party si~all be entitled to have a receiver
appointed to take charge of the said mottg,age prenuses and the crops sown or growing Ihereun, togetiier with the said rents,
issues, and proPits arising therefrom and hereby assigned, and hoid the same subject to the order end direction of tlie court.
10. First patty covenants that he will not perform any act which might impair or tend ta impair the continuatiun on
the property herein described of all crop aUot:nents and acreage ~llotments naw estabiished or hereafte~ establisi~ed on any of
the property herein described.
11(a). In the event second party t+ecorrxs a puty to any legal proceeding (exciuding an action to foreclose this
mortgage or to collect the debt hereby secured), involving this mortgage or the precnises described herein (including but not
limited to the title to the lands deuribed above), second party may also recover of first party all costs and expenses
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..s1.lv :nr..•ud {~v f{~~ n~n~fnons~ inr~s~~ina a r~sennati~v ~flnrn~v'e ~rP which C/K1t BYBBOCf!C AO[I atMrnev'c fee when
_ . ~ ~ . . x ~ _ .I ' _ . -.. . _ . .s _ ; . _ . .. . . . . . . V . V.. . . _ . _. . ._ . _ _ _ ~V _. . _. _. . . . . ._ . . _ _ _ _ . . . . .. . _ _ :
paid by sernnd party shall become a part of the debt secured hereby and shall be immediately payable upon denzand. and
shall draw interest from the date of advance by second party until paid at tlu highest rate pruvided in any note or other
instrument secured hereby.
11(b). In the event said debt. or any part thereof, is established by ur in any action for foreclosure of this mortgage,
secund party may also recovrr of tust party. in addition to the said debt or so much thereof as shal! be unpaid, a reawnable
fee for the attorney of second party for professional services rendered in such action, such fee to be incorporated in the
decree of foreclosurein such action.
12. First party shall hotd 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 conditiuns of said note or other
instrument secureJ hereby or this mortgage shaU be made; however, any agent or employee of second party or any person
designated by second party may enter upon said premises at any time for the purpose of inspecting same or for any other
purposes desired by second party.
13. All amounts that may hereafter be awarded for condtmnation of, aRd waste and tortious injury to, any oi' the
property hereby encumbered are hereby assigned ~nd shall be payable unto second party for application, after payment
therefrom of attorney's fees and expenses incurred by fust party and by second party in connection lherewith, on such part
of the indebtedness secured hereby as second party may determine, with no duty on second party to collect same.
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14. FIISt ~[ty iglCeS 8S e COIIdlU0I1 hC[COI 1~18I 3ti OOLge[lulls, d~S1~luucuii, tc~caxa v~ icd~ }~wNc~ar auu~.,. ~..,.:r. :3.
Gability. reamortizations. renewals, deferments, extensions or arry other ageernent, in writing, made by any one or more of
the puties herein designated as first party with second party are heceby authorized and consented to by all parties herein
designated as fust 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.
15. First party agrees as a condition hereof that if a conveyance, lease or other disposition should be made
-- voluntarily by fust party (or by any one or more of the parties designated herein as first party) of any title or interest in and
to the ceal property described above, or ar.y part thereof, without the written consen! of the lawful holder of this mortgage,
or if such title or interest of fust patty ~or of any one or more of the parties designated herein as first party) is involuntarily
conveyed or transferred as the result of foreclosure of a junior lien or is required under court order or decree as the result of
, '- -- litigation (conveyance or transfer of tide or intertst resulting from death of ~rst parry. or any of the t~rst parties, if morc
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 notiee to the first party, all sums of money secured hereby shall become due and
payable and in default immediately and concurrently with such conveyance, trans~er, lease or other disposition, whether the
same are so due and payable and in default by the specific terms tiereof or not.
Ib. Second party shall have the right~ exetc~sable at its discretion w lung as this martgage is in force and effect, to
demand in writing the assignment of and transfer to second party. its wccessors and assigns, and first party hereby agrees to
so assign and transfer, any and all rents,_ profits, royalt~es, income or other consideration to be paid or accruing to first pacty
from any oil, natural gas, mineral, timber, leasehold or other in:erest of any kind and nature whatsoever, derived from.
connected with or affecting the within described real property but not otherw~se subject to, conveyed and/or secured by this
mortgage, with the tight of, but no duty upon. xcond party, its successors or assigns, to collect same.
17. First party will comply with all the terms and conditions of any instrument hereto(ore or hereafter executed by
fust puty in connection with the loan(s) secured bY this mortgage.
I8. A default under this instrument or under :~m~ other instrument herctufore or hereaftrr exe~uted b} first
part}~ to second part~~ shall at the option ~f serc~nd part}• constitute a Jefault undcr am one or more or all in~truments
executed b~• first party to second part~~.
19. If first parry (or either of them. if more than one), his heus, successors or assigns, or any asaumer of the
indebtedness hereby secured, fites a petition in voluntary bankruptcy, for receiversFup, f~r 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 a;signs, the second party, without notice to the first party, shall have the right to declare 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 terrm hereof or not.
20. This instrumcnt is subject to the Earm Ctedit 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 puty are cumulative of all other remedies and r~gt~ts atlowed by law, and may be pursued concurrently, and shail
extend to and may be exercised and enjoyed by the successors and assigns of second party, and by any agent, officer,
attorney or representative of second party, its successors or ass~gns. All obligat~ons of, and assignments by, first party herein
and hereunder shaU extend to and be binding upon the heirs, executors, administrators, successors, and assigns ot fust party.
. IN WITNESS V!~}iEREOF, fust party has here~~nto set his Fiand and seal (and if first party is or includes a
cocporation, it has caused this instrument to be executed, sealed by ~ts corporate seal and delnrered bj its duly authorized
officers), this the day and year fust above written.
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