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79002173
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1/12/2010 9:57:39 PM
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79002173
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<br />Loan No. ~ 105 148 <br />RIDER attached to and <br />part of MORTGAGE for $ 300,000.00 ,dated 1979 <br />8y CARL R. VARAH and LUELLA M. VARAH, husband and wife, each <br />in ivi ua y in is an er o n ~ GOR, <br />To 7HE PRUDENTIAL INSURANCE COMPANY OF AMERICA, a New Jersey corporation, MORTGAGEE. <br />Additional Covenants: <br />In the event Mortgagor, without the prior written, consent oi` Mortgagee, <br />shah mortgage or otherwise encumber the mortgaged premises, or any part thereof <br />or any interest therein, whether voluntarily or involuntarily, the entire balance <br />of the indebtedness secured hereby shall become and be immediately due and <br />payable at the option of Mortgagee; provided, however, that Mortgagor may <br />mortgage or encumber the premises, or any part thereof or any interest therein, <br />where such mortgage or encumbrance is granted to an institutional lender as <br />collateral security for crop production and/or farm operation loans made for <br />the benefit of the mortgaged premises. <br />In event of sale or transfer of all or any part of the mortgaged premises, <br />whether by operation of law or otherwise, without the prior written consent of <br />Mortgagee, the entire balance of the indebtedness secured hereby shall, at the <br />option of Mortgagee, become and be immediately due and payable. <br />If Mortgagor or any co-signer or guarantor of the note secured hereby <br />shall file, or there be filed against any such party, a petition in bankruptcy <br />or insolvency or for other similar relief under the bankruptcy laws of the United <br />States or under any other applicable federal, state or other statute or law, <br />or a receiver, trustee or liquidator shall have been appointed with respect to <br />such party, then in any such event Mortgagee shall have the right, at its option, <br />without giving prior notice to Mortgagor and without liability of any kind <br />upon Mortgagee, to declare the principal of the note hereby secured and then <br />outstanding to be due and payable immediately; and upon such declaration the <br />said principal, so declared due and payable, together with the interest accrued <br />thereon, and together with any other sums secured thereby, shall become and be <br />due and payable immediately, anything in this mortgage or in said note to the <br />contrary notwithstanding. <br />Mortgagor hereby waives any right to require that the real estate <br />ii,ui~tgaged her26y be sold as separate tracts or units in event of foreclosure <br />hereof, hereby authorizing and empowering Mortgagee in such event to sell the <br />mortgaged premises in one tract or otherwise, at its option, anything in this <br />mortgage to the contrary notwithstanding. <br />MCF 3230 Ed 507 <br />
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