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<br /> <br />:zeflr- : ar <br />t3-ze-ze) <br />ARD MlGCtB, for hisaelf, his heirs, executors, a~inistrators, successors, <br />and assigns, does hereby and by these presents warrant, covenant, and agree: <br />i. That he is lawfully seized of an indefeasible estate in fee simple <br />is and to the said property; that he has gaod right, full paver, <br />and lawful authority to mortgage the same in the manner aforesaid; <br />that said presgertq is free from encumbrance <br />sad that he will forever warrant and defend the title to said prop- <br />erty against the lawful claims and demaada of all parsons whomsoever. <br />2. Ta pay or cause to be paid promptly all installments of principal and <br />interest as they become dui according to the terms of said nets, and <br />of auy exteasiona thereof, and any other indebtedaeaa awing by the <br />Mortgagor or Borrower to the Mortgagee and secured hereby. <br />3. Ta pay oromptly, before the same shall cecome delinquent, all taxes, <br />aseeas~eats, levies, liabilities, obligations, and encumbrances of <br />every nature whatsoever assessed upon or attaching to said property <br />or Mortgagee's rights and interest therein under this mortgage ar <br />the iadebtedaeae hereby secured. <br />4. That he hereby assigns to Mortgagee aay and all rents, profits, and <br />other revenues, and incomes of and from said pzopertq and he does <br />hereby authorizy_ aad eopcnrer Fk>rtgagee (1) to take paasessi.or. of <br />said property at arty time there is any default in the payment ai <br />the debt hereby secured or in the performance of any obligation here- <br />in contained, and to rent the same far his account, and (2) upon <br />co®enceaent of any proceedings, judicial or othezwise, tc enforce <br />say right under this mortgage, to have a Receiver for said property <br />appointed by a court of competent ~uriediction, upon applicatioa by <br />Mortgagee and production of this mortgage, without ocher evidence <br />end rithont notice of hearitsg of said application; which Receiver <br />shall have. aoong other things, full posreer tc rent, lease, and operate <br />said property and collect all rents, profits, and other revenues <br />therefzam during said default and the peciod of redemption if any°. <br />5. To properly care for said property, and keep the facilities :~~n- <br />structed ar drying equipment purchased with the proceeds of said <br />ices fu proper reipair and goad condition, and available for storage <br />ar drying Brain, until the loan is repaid. <br />b. TfitBt in the avant of the faiiuPe of the tlorcgagor in any zeapect to <br />cow}rly with the covenants and conditions herein contained with respect <br />~P the payment of taxes, and other r_harges, liens sad encumbrances, <br />e}tp Mortgsgee shall have the right (without prejudice to any othez <br />rig~eta arising by reaaan of such default) to advance or expend moneys <br />for such purpose, aad all sows so advanced with interest at the high- <br />eai legal rate per annua shall become part of the indebtedness secured <br />Page 2 <br /> <br /> <br /> <br />t..... <br />