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<br />t ( *..:1bgtgagor is the owner of the Property,�lfas x"ght and
<br />authority to mortgage the Property, and warrants that the lien created
<br />hereby is a second lien on the Property subject only to a certain mortgage
<br />given to The State Bank of Cairo
<br />dated _ �G•�^ and recorded as Document No. 86- 10694_0
<br />3, To pay when due all taxes, special assessments and all other
<br />charges against the Property and, upon written demand by Mortgagee, to add
<br />to the payment required under the Note secured hereby, such amount as may
<br />be sufficient to enable the Mortgagee to pay such taxes, assessments or
<br />other charges as they become due.
<br />4. In the event the Property, or any part thereof, shall be taken by
<br />eminent domain, the Mortgagee is empowered to collect and receive all
<br />compensation which may be paid for any property taken or for damages to
<br />property not taken, and Mortgagee shall apply such compensation, at its
<br />option, either to a reduction of the indebtedness secured hereby or to
<br />repair and restore the property so damaged.
<br />$. Mortgagee say, but shall have no obligation, to do any act which
<br />the Mortgagor has agreed bvt fails to do, and Mortgagee say also do any act
<br />It deems necessary to protect the lien hereof. Mortgagor agrees to repay,
<br />up-•n demand, any vv%Lq so expended by the Mortgagee for the above purpopea-,
<br />and any sums so expended by the Mortgagee shall be added to the
<br />indebtednesa secured hereby and become subject to the lien hereof.
<br />Mortlage,p -shall not incur any personal liability• because of anything it may
<br />do or omit• te.do hereunder.
<br />6. Time is the essence hereof, and upon Nortgagor's default in any
<br />convenant or agreement of this Mortgage, including covenants to pay when
<br />due the sums secured by this Mortgage, the Mortgagee shall be entitled, at
<br />its sole option and without notice, to declare all sums secured by this
<br />Mortgage to be immediately due and payable and may commence foreclosure of
<br />this Mortgage by judicial proceedings; and, provided further, that upon
<br />such default the Mortgagee, or a receiver appointed by a court, say at its
<br />option and without regard to the adequacy of the security, enter upon and
<br />take possession of the Property and collect the rents, issues and profits
<br />therefrom and apply then first to the cost of collection and operation of
<br />the Property and then upon the indebtedness secured by this Mortgage; said
<br />rents,. issues and profits being assigned to the Mortgagee as further
<br />security for the payment of the indebtedness secured hereby.
<br />7. If all or any part of the property is sold or transferred without
<br />i the express written consent of the Mortgagee, Mortgagee say at its sole
<br />option, declare all suns secured by this Mortgage to be immediately due and
<br />payable.
<br />S. Any forbearance in exercising any right or remedy shall not be a
<br />waiver thereof.
<br />9. All remedies provided herein are distinct and cumulative to any
<br />other right afforded by law or equity, and may be exercised concurrently,
<br />independently or successively.
<br />10. The convenants and agreements contained herein shall bind, and all
<br />rights inure to, the respective successors and assigns of the Mortgagor and
<br />the Nortgagee.
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<br />11. All convenants and agreements of the Mortgagor and the Mortgagee
<br />are Joint and several.
<br />12. Upon payment of all sums secured by this Mortgage, Mortgagee *hall
<br />discharge this Mortgage and shall execute and deliver a satisfactory
<br />release therefor.
<br />I WITMM WMMWF, Mortgagor has executed this MorUj - -,6A tk*
<br />L27thday of
<br />ep er , 1990.
<br />V Y
<br />L
<br />STAB OP NUB"", OOIIMTY OF Hall r.
<br />The foregoing instrument was acknowledged before me this 9127190 ,
<br />by Raymond V. Robertson )nd MqTflyn..J. Robert 5on,.-Ousband and wife }
<br />gaga{ �M1r.Stw a INprnla
<br />ROWT C. LARWN WfPAldV PUK I C
<br />� daa [a Mach & � M4
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