R-1965-43-A - Laserfiche WebLink

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. '/ ~ ~ "d, "'.- ~ J The State of 'iDAfj KNOW ALL MEN B~HESE PRESENTS: 'e ODe (1) Johll Deere Tractor, Die..l Whe.l, NocIel 2010, Serial Ho. 68169, With By4raulI.c Loader, Hoc1.1 720, Ser1&l No. 6060, a. Johll Deer. BJdraulic Back Hoe, Modal 93, Serial Ho. 5418 aDCI located at City Barn at 404 Welt J Street, La Porte, Barris COUllty, Te.. e toaether with all of the Increase of, from and to. the above detlcrlbed property, prior to the f1Ill payment of thE' Indebtednetls hereinafter referred to. Also all other cattle, sheep, hose, horses and other livestock situated in said County aforesaid now owned, or that may be hereafter acquired, by said mortlragor. until this mortgage is relPBSed in full. save snd except such livestock as may be herelu etIpeclally reserved. TO HAVE AND TO HOLD all and singular the above described property unto said bank, its succeeeors and assigns forever. And I do hl!!'E'by bind myself. my heirs, executors and administrators to warrant and forever defend the title to said property, and every part thereof. unto said bank, its succetlsors and assigns, against every person whomsoever, lawfully claiming or to claim the same. or any part thereof. This conveyance. however. is intended as a mortgage to secure said bank, its successors, and assigns. In the payment of certain indebtednen due and owing by me evidenced by nit. certain promissory note_. a. follows: One note datpl tfnv. I, 1965, Tax. Aft~telpadnft Hn':. fnr ~hA Year 1965.1966r..... :rbeal Year RqinnlDl p ---\JU!IIJ JU~I l, 1961li .ndf., .I.11D&.d..tO, 1966. fnr $5,500.00, ,lu8..1nt.a......aate due 6.~0-66 anT as well to secure e payment of III other Inde tedness now owing sRid r.mk. and any and all Indebtednetls hereafter lo become owing said bank. its SUCC<"lll8ors, assigns or legal representative, whether evidenced by note, overclraft, or otherwise, which said indebtednetls now or hereafter owing it is acreed shall be payable to the order of said bank at its office in----1A.-Jor!8 Tep. . and bear interetlt at the rate of ten per cent per annum from c1ateM accru ultn pal , and the same shall stand secured by and payable under this mortgage with the other indebtednetls herein mentioned. provided. however. that it is hereby expressly stipulated, and provided thst a first and prior lien is hereby expr8lls1y fixed on the property aboTe deserlbed to secure the note, or notes, above specifically nsmed, and the payment of all oth er Indebtedness by the maker hereof subsequently accruing, or not definitely and particularly namcd herein. shall be postponed and subordinated to the pay ment of the note. or notes, above named. and a first and superior lien is hereby declsred snd flxcd on the sbove described propcrty to secure the note. or notes, above nsmed and described: and provided further that the payment of any other Indebtedness of the maker hereof. not definitely and particularly named herein. out of the proceeds of the property above described. shall be made In tho order in which said Indebtedness may bave been contracted. This mortgage Is given and recE'ived for and upon the representations. agreements, stipulations and conditions, made for the purpose of indullinc said bank to part with certain mone)"s herein mentioned and accept the security herE'in given it, as follows. to-wit: (1) That mortgagor Is the full OWDer of eaid property and has perfect right to give this first mortgage upon the same, unless a Qualified ownership is herein expressly named: (2) That so long aa the possesslou of said property is permitted to remain with mortgagor the same shall not be sold, mortgaged or removed from the place above named without the written consent of the bank and that mortgagor will use the utmost diligence and care to preserve said property from waste or destruction, and have the same forthcoming for delivery to the bank, or purchaser in as good condition as the same now is, unavoidable loss alone excepted: (8) Such of the property herein convpyed aa is livestock. the mortgagor binds himself, at his own expense, to provide with food, paaturage and attention, and to !five the same all the attention which the most prudent person would give his own property in maklnc the same suitable fOl' market under the most favorable circumstances; (4) That said property is of the rPBSonable aggregate cash value of . at the execution and delivery hereof. It is understood that the mortgage lien hereby created shall extend to any renewal of the indebtedness bereby secured and this lien shall continue and be in force until all the indebtednetls above referred to and each and ev~ extension and renewal thereof shall have been fully paid. _It is further agreed between the parties that If at any time the said mortgagor should move or attempt to move all or any part of the above " esllrlbed property outside of the County where the same is situated aa above stated. or If at any time In the judgment of said bank the said property hould be neglected, iniiured or abandonPd or otherwise mistreated or handled so as to impair the said bank's security or render the bank Insecure, or . it the mortgagor without the CODSent of the bank should surrender possession of any of said property or sell any part thereof, or if the mortgagor should violate any of the other conditions of this mortgage, then, and in any such case, the said bank, at Its option, may declare all of tho indebted. ness above referred to immediately due and payable and proceed at once to enforce collection thereof In the same manner as if the full time for the maturity of the same had lapsed. In the event that more than one note Is secured by this mortgace, and default is made In the payment of the first when due. then the remaining indebtedness may be declarPd Immediately due at the option of said bank. It is expressly agreed nnd stipulated between the parties that In case default be made by said mortgagor In the payment of the indebtedness above described when the same becomes due or is declared due and payable according to the terms hereof, then the said bank shall have the right through Its agents to take Immediate possession of all of said property and to either sell the same at prIVate sale without notice to said mortgagor, or sell the same at publlll sale In the manner prescribed by law: or the said bank may. if It elects, enforce its lien by suit in the Court of proper jurisdiction. The said mortgagor hereby specially waives all right of appraisement. Au attorney's fee of ten per cent. of the amouut of the principal and Interest of the Indebt- edness remaining unpaid shall be taxed and nlade a part of the costs of foreclosure. It fa also agreed that all expense in connection with the securing, taking and caring for any property above described or the gatherlug and marketing of any crops shall be borne by said mortcsgor and secured by this mortgage. Upon payment in full of the Indebtedness secured by this instrumen t the same shall be cancelled and released at the expense of the mortgagor. The taking of this mortgage shall not waive or impair any other security said bank may have or hereafter acquire for the payment of the above indebted. nen nor shall the taking of any such additional security waive or impair this mortgace, but said bank may resort to auy security it may have in the order it may see proper. , A bill of sale herl.'U1lder from the said bank or any of Its agents, officers, attorneys, or assigns, as such, conveying the said property or any part thereof. shall be full and conclusive evidence and proof that all of the terms, conditions and prerequisites required herein have been fully complied with; and said mortgagor hereby ratifies and confirms any and all acta of the said bauk, its officers. agents, attorneys and assigns, done nnder and by virtue hereof. It is further agreed and stipulated between the parties hereto that In the event the bank should exercise Its option to declare all of the indebtedness above referred to, immediately due and pqoable and proceed at once to enforce collection thereof. in the same manner as if the full time for the maturity of the same had elapsed, by reason of any of the foregoing actions on the part of the mortgagor, that then, and in that event, by the term "Indebtedness" is meant the full amount of the principal and Interest due by the mortgagor at the time that the bank exercises such option. In no event shall the bank collect or attempt to collect any unearned interest on said Indebtedness at tho time that the bank so exercises such option to declare said indebtednees due, but all interest included in the face amount of the note applicable to a period after the accelerated maturity shall constitute a credit against the face amount of the note. and all interest paid in advance and applicable to a period after the accelerated maturity sball constJtute a credit on the amount of Indebtedness, as above defined. then lawfully owing on such note. Erasures and Interlineatlons made and approved before silrDlng. Witnees---"Y__han<<L--thls the 1st day ~, Exelluted aud delivered in the presence of the undersigned: .TTBST: C1t7 ,1.1f" uC Lh. Cit, of La Porte, Texas November . A. D. 11~ ~~~::te. ~_.