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HomeMy WebLinkAbout0974 - - _ ' l l~a). In the event lender becomea a party to any legal pn~cced~ (excluding an action to forecloese this mortgage or to collect the debt hereby aecured), involving thie mortgag~e or the pre deecribed herein (including but not Gmited to the tille I to the lands described above), lender may also reoover of borrower all coats and expeneee reasc~nably inc~.?rred by the ~ j mortgagee, induding a reasonable attomey'e fee, which coete, expenses and attorney'e fee when paid by lender ehall become a part af the debt aecured hereby and ehall be immediately payable upon demand, and ehall draw interest from the date of advance by lender until paid at the highest rate provided in any note or other instrument eecured hereby. (b). In the e~ eat said debt, or any pRrt thereof, ia establiahed by or in any action for forecloaure of this mortgage, lender may also :ecover uf borrower, in addition to the eaid debt or eo much thereof as ehall be unpaid, a reaeonable fee for the Attorney of lender for profeseiona] servicees rendered in such action, auch fee to be incorpurated in the decree of forecloaure in i; such action. 12. Undersigned shall hold and enjoy the said premiaes until default in payment of any of the inatallments as provided in said note(s) or other inetrument secured hereby or a breach of any of the covenanta or conditions of eaid note(s) or other instrument aecured hereby or this mortgage shall be made; however, any agent or employee of lender or any peraon deaignated by lender may enter upon said premises at any time for the purpose of inapecting aame or for any other purpoaea deaired by lender. 13. All amounta that may hereafter be awarded for condemnation of, and tortious injury to, any of the pro~erty hereby encumbered are hereby assigned and ehall be payable unto lender for application, after payment therefrom of attomey's fees and expeneee incurred by underaigned and by lender in connection therewith, on auch part of the indebtedness aecured hereby as lender may determine, with no duty on lender to collect same. 14. Underaigned agrees as a condition hereof that all obligations, assignments, releases of real property and~or peraonal liability, reamortizations, renewals, deferments, extensions or any other agreement, in writing, made or entered into with lender by any party or parties obligateci (primarily or otherwise) to pay any or all of the indebtednesa secured hereby, or by any party or parties who have given security of any ldnd for any or all of the indebtedneas securc~ hereby are hereby ~ authorized and conaented to by all partiea herein designated ah borrower and ahall extend to and be binding upon the heira, ~'i ~ executora, adminiatrators, auccesaors and asaigne of all the parties herein designated ae undersigned. 15. Underaigned agrees as a condition hereof that if a conveyance, lease or other disposition should be made voluntarily by undereigned (or by any one or more of the partiea designated herein as underaigned) of any title or interest in and to the real property described above, or any part thereof, without the written conaent of the lawful holder of this mortgage, or if such dtle or interest of undersigned (or of any one or more of the partie8 designated herein as undersigned) is involuntaiily conveyed or transferred as the result of foreclosure of a junior lien or ie required under court order or decnne as the reault of litigation (conveyance or transfer of title or interest reaulting from death of undersigned, or any of the undersigned, if more than one, excepted), without the written conaent of the lawful holder of this mortgage, then and in either of said eventa, and at the option of aaid holder, and without notice to the undersigned and/or borrower, all suma of money secnred hereby shall become due and payable and in default immediately and concurrently with auch oonveyance, tranafer, lease or other disposition, whether the same are ao due and payable and in default by the specific terms hereof or not~ 16. Lender shall have the right, exercisable at ite diacretion ao long as this mortgage is in force and effect, to demand in writing the assigr?ment of and transfer to lender, its auccessors and assigna, and underaigned hereby agreea to so assign and transfer, any and all rents, profits, myaltiea, income or other conaideration to be paid or accruing to undersigned from any oil, ~ natural gae, mineral, timber, leasehold or other interest of any kind and nature whatsoever, derived from, connected with or affecting the within deacribed real property but not otherwise aubject to, c~nveyed and/or eecured by this mortgage, with the right of, but no duty upon, lender, it succesaors or assigns, to collect aame. 17. Underaigned will comply with all terms and conditions of any inatrument heretofore or hereafter executed by borrower in connection with the loan(s) setured by this mortgage. 1&a). A default under this inatrument or under any other instrument heretofore or hereafter executed by borrower i and/or undersigned to lender shall at the option of lender consritute a default under any one or more or a11 instruments executed by undersigned and/or borrower to lender. (b). A default by undersigned and/or borrower under any instrument(s) constituting a lien prior to the lien of this instrument, shall at the option of lender constitute a default under any one or more, or all instrument8 executed by undersigned and/or borrower to lender. ! 19. This inatrument is subject to the Farm Credit Act of 1971 and all acts amendatory thereof and sapplements~ry f thereto, and regulations isaued thereunder. All rights, powera, privileges, options and remedies conferred upon and given to ' lender 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 succesaors and asaigns of lender, and by any agent, of5cer, attorney or repreaenta- ~ tive of lender, its auccesaors or asai E gna. All obligationa of, and assignments by, undersigned herein and hereunder shall r extend to and be binding upon the heirs, executors, adminiatratora, auccesaors, and assigna of underaigned. ~ ~ ~ IN WITNESS WHEREOF, undersigned has hereunto set hie hand and seal (and if undersigned is or includes a ~ corporation, it has cauaed his instrument to be executed, sealed by its corporate seal and delivered by its duly authorized ~ officers), this t" day of N~ ,19 8S . ~ ¢ '~II~ B~~AC ~ A~ ~~DOty~~[S3~R~$~ ~r~ ~ ~1,~bC~~C1~~~~tX~~~X~P~~~C X~~~~?~~ ~ xxxxx~x~cxxxxxxxxxxxxxxxxxxxxxx~~~~~qq~~~~g~=gx~~~~~ ~ ~YXT~ ~6Ii1~Xi~7~~~i ~ ~ A~A8S~4~SF~~K~~~f~SA~~JI~~~D~Y~~X~ Rh~~ ( E ALC GROVES, ZNC. - - Signed, Sealed and Delivered in the preaence of: B~ ' ~ (I..S.) ~ j% Edgar . Brown - President ~ Attest: ' / ~(~y, . ~ ~ ~ ~ . ~ ~ ~ ~ _ '~44-~}, _ . g I • _ ~ i.` 'r' ,y = . - i ~ ~ ~ K ; • l c,-.y ~ = ur:~K ~67 P~f 9~'4 . ~ ~ _ - - _ _ ~ .r. . w'~ `.`~-.;`x--~'-r.~yv~.~ ~~.~5.. ;v~"~~hw~-'~-..a,._~.<.~ ~ x;,•: