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<br /> . � - � hl' the nuhc) � to.:.... - �Q.'.:: � ... ....... ... : � i ). that �_if the TfortGa�eci 1'mpr.rtp or . an}� pixtion ifiercof shalt L�e taken or �ixmagrd � - � � ,. .
<br /> underthe puwer �f eminent d�miin; the a���ard f�r am� pmperh� sn takrn ur �jamagcd ( includm� se�rrance damay;es to Hic remaining
<br /> premises ) shall i�c paid to the ,'�lortgagc�e and .ippiii•d in fuli ar in part at ttie option ef thc A(orci;ageY in rrduition of the indeLtcci•
<br /> ness hcretiys�rured; (j ) ihat the \iorfeagershail haee thc iiGlit tn inspc�ct the htort,Ga,¢tti Pmperq� at suc6 reasonbie timrs as the
<br /> Murtgagce 'ntay desire to detennine the Dt�xt�ag�x's crnnpiiance n-itfi thc m�•enants c6nts�nnj in this \Sortgaqr; (k) t3iat the AtortKaqee .
<br /> may rticase from the lien hcieoCany patt 'ot the a6ove•descr�bed real propcctp withom reyuirinfi any cimsi�erstion therct"oi, and O )
<br /> that he is lawfuliy� ticizc�i uf said �remisrs 'in tec simple, thxt thc same are irce frnm rncumbrancYs rxcc�it as ma}• otlmrn�ise be spe�
<br /> cincaify rtotcd hercin or r�ai��ed in writinG hy thc \ioetga�ee, thst he a•ill e�erute irr procu�e an}• further hecessary assuraRces of t�de _
<br /> and dces here6y narranc .generalfy the titie to said pmmiscs snd �viil foic��cc defcnd the same against die daims and demands oi all
<br /> ��ersons «�l�omsoeeer, 1nd that his separate cstatc, � hethet vestcd, coi�tin�cnt nr in ex�nrtan�y. is hcrcirv com�c� c�i ind irc dnes licrcbt�
<br /> � cxpmssiy �esice, reiease a�id relinyuish all rights and bcncfits �if sn}� homeste�d: dr,wc�, iiinrsy, ap�raiscment, csemEv,��>n . nnil scay�
<br /> � iams of ihis state. ll is agr�rd diat the interest proaidrd foc in sub-sctition (g ) ainave shall Ue 12�'�r. �cr annum . or rfie hi¢hcst la«•fld
<br /> rate permihed b}' mntrsct under ep��liinble law; wliid�ei�er is lessec
<br /> SGCO\DE That if ihe �{urtgx�r shall de(tiult in tl�e payment �if the Note or in the pei focmance of any 'of ihe co��enants or agrer '
<br /> " ments hereinror in the I`ToM nr in any agrecmrnt cnllatcral hcreto nintnined, or if thc tl�en �i��ner of the \4ortFa�c� Properti• shslt makc
<br /> �� an assignment fiit the bcne(it oF crcditors or shall file a pctition for rrlie! undcrthe 1)ankn�ptrv Ad O� IB9S, 95 �OICTIc3ed, or undci anc
<br /> ' ; simi!ir :!nku!e. er sh311 be adjudicated 6snknii t er ins�iceo±, „r if � ny r.,.rr.�'rr Ii1�Uidttnr nr � nitt�r �ha91 4,r >>��,nint�� (�ir svrh tlirn
<br /> o�ne� or am• nf his propert}�, tlic7i in snch et-c�it, chc e�ttire indci;tcdness hen•li�� securcd shall, at the option ef rhe MnrtGagcr and with-
<br /> � out niitice to the �:ortgagor, be �3uc and colintibic at oncc bs judival forcdosurc fimccti�lin�s ur ss olhcrn�isc �±rnvidecl U}' la���, or, u•hen
<br /> avaitaUle underapplicable statutes or n�les �if jiractice, bti' a�i�'ertisement and sale, and in such an c�riu this pro��sion shatl ix decmed u
<br /> authorizing and mnstituiing s ��o���er of sale as mentioned in said sfatutes or mles; that in �ddition to iltc ri�hts and rrmedies hcrrin, the
<br /> \igdRagee is hereUg audiorizcv and em�x>n•ered at its option tn exercise 6irtha•idi and fmm timc hi time any (utther ii,qhcs and Tcniedirn .
<br /> avai1361e to thc Mortg:�ee undcr ihe la�vs o( dic state ���L•erein lhe \tonea�ed I'nirerty ic sihtatc, such as ilic right tv iolled thc rents;
<br /> issues and piofits, ur to ha�•e a rrceieer ap�x�intrd W collctt tlie sxme.
<br /> THIRD: 11u Eoliun�ing schcdule(s) is (are1 ��nnecni herero znJ made a ad herent if no cntTy; this section is inaprlinble ) :
<br /> � ; . SCHEDULS A (FUTURE ADVANCB):. ANNEXF.t) HERETO A�lll FORMS � PAItT Ii�REOF . . .. . . . . . .. .. ..
<br /> . .... . ...... .. .. . . . . . .. ............ .......... .............. ................ ............... ............................ ...... . .. .... ... .. .. . . . . .
<br /> COURTH: That lhe co��enants herein cnntained shall bind, snd dic benefits and adeantages tficrcrf shail inure t�� ihe mipectii�e
<br /> heirs, executors, administntors, sucsssors, and assigns of tiie �+xties hereto. 1n this hiortgx�,.e unless �he rontezt othcrticisett'yuires a•ords
<br /> in the sin�ular number indude the Eelural and in the plural ilidude the sinfiular, and �cords in the inasrnline Render inclvde the feminine
<br /> and the neuMr.
<br /> SCIiEDULE A TO DYIRTGAGE DATED JANiL4RY 1 2977
<br /> Rollin 0 . Pneker , � Joyce A . Packer to
<br /> TR5 EQUITABLE LIFE ASSURANCE
<br /> SOGISTY OF THE ONITED STATES
<br /> FUTUR& hllVANCE
<br /> ' ' Thia mortgage is giren ta secure an indebtedness of $ 266 , OOO .QO , uf- �
<br /> S �ahich $GO , OOO . DQ [ias been withl�eld by the mortgagee at the time of closing £or
<br /> �- ; : future dinUuraeraents (hereinafter called "Future Advances" ) . Future Advnnces
<br /> ; � shall be msde only unon compliance coith the followia� conditions at the tfine o £
<br /> ''- i each Fueure Advance : (a) at the Cime of the fi.rst Future Advance in the nur�unt
<br /> ' ' ' of $40 ,Q00 .00 , there shall hnve been completed , to the satis £action of the
<br /> mortgagee , proper installation of new irrigaCion GPL1 nnd pivot sy�stem ; (b ) nt
<br /> = i ' Lhe time of Che second Future Advence in the amovnt nf S20 ,OU0 , 00 , ehere shall
<br /> _ ' 1` have beett cdmnleted , to the satisfnc[ ian oi Che r.►� rtgaRee remnval of lrees and
<br /> huildings on the lqnd herein described ; (c) ae tche time of e, ach advance the
<br /> ^ i mortqagor sf�all Ue the Owner of the premises deecribed in this martgage ; (d)
<br /> there ehall be no uncured default in Chia morl• gage nor in the uote which it
<br /> � secures ; (e) each Future Advance ahall Ue secured Up this mort�;age and shall
<br /> constitute a valid firRt lien on the mortg�qed premises , as evidenced by such
<br /> title searches , absCract continuntiona � npinions of counsel , title noLicy endorse-
<br /> menta or other evtdence of title as the irortgagee mxy require ; ( f) all e:cnenses
<br /> of title searchea , abstract oontinuntions � opinians uf tiele and title policy
<br /> endorsementa reauired by the tmrCqagee BF1RL1 I7e pAld bp the nnrtRr�Qor ; (�) khe
<br /> mortgagor sliall not be affected hq any insolvencp pmceedin�s nor sliall the
<br /> imrCgagnr have made an assignment Lor the benefiC of creditors ; (l�) Che
<br /> mortgagee ahnll not be obliged to make more tisan t�,ro Future Advnncea nor shnll
<br /> � Che mortgngee Ue obliged to mnke nn� Cuture Advancen nubsequene tn the lat dgp
<br /> ;
<br /> Uctober , 1977 ; and ( i) not lesa Chan thirty dayc ' .;ritten notice nha11 huve Ueen
<br /> ` : given ta the mortgagee Qrior to the inCended dnCe of each Puture Advnnce .
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