Nevada § 106.020 - Adoption by reference before March 1, 1967

§ 106.020. Adoption by reference before March 1, 1967

In any mortgage of real or personal, or real and personal property, made prior to

March 1, 1967, the parties may adopt by reference all or any of the following covenants,

agreements, obligations, rights and remedies: 1. COVENANT NO. 1. That the mortgagor will perform each and all of the promises and obligations of

the mortgage and all covenants thereof, adopted by reference as provided herein, and

will pay the indebtedness therein described with interest as therein provided. 2. COVENANT NO. 2. That the mortgagor will pay a reasonable attorney fee in case suit is started

for the collection of the mortgage debt or any part thereof, and will pay all costs

and expenses of the suit, whether the suit be prosecuted to judgment or not, and will

also pay all costs of any sale made thereunder without court proceedings, including

in case of such sale an attorney fee equal to ________ percent of the amount due at the date of the sale upon the principal and interest

of the mortgage debt. 3. COVENANT NO. 3. That the mortgagor will pay, in lawful money of the United States, all sums expended

or advanced by the mortgagee for taxes or assessments levied or assessed against the

mortgaged property, fire insurance upon the same, or advanced for any other purpose

provided for by the terms of the mortgage or the covenants thereof adopted by reference,

together with interest upon any such sums from the date of the payment by the mortgagee

until repaid, at the rate of ________ percent per annum. 4. COVENANT NO. 4. That this mortgage will be security for the payment in lawful money of the United

States of any and all moneys that may hereafter become due or payable from the mortgagor

to the mortgagee, from any cause whatsoever. 5. COVENANT NO. 5. That this mortgage shall be security for any and all renewals of the mortgage

debt or of the promissory note or notes evidencing the same, which may be executed

and delivered by the mortgagor to the mortgagee, and any and all additional or future

advances or loans which may be made by the mortgagee to the mortgagor. 6. COVENANT NO. 6. That the mortgagor agrees to pay and discharge at maturity all taxes and assessments

and all other charges and encumbrances which are, or shall hereafter be, or appear

to be, a lien upon the mortgaged property, or any part thereof, and the mortgagor

will pay all interest or installments due on any prior encumbrance. And in default thereof, the mortgagee may, without demand or notice, pay the same

and the mortgagee shall be the sole judge of the legality or validity of such taxes,

assessments, charges or encumbrances and the amount necessary to be paid in the satisfaction

or discharge thereof. 7. COVENANT NO. 7. That the mortgagor will at all times keep the buildings and improvements, which

are now or which shall hereafter be erected upon the mortgaged premises, insured against

loss or damage by fire to the amount of at least $ ________ in some reliable insurance company or companies, approved by the mortgagee, and will

deliver the policies therefor to the mortgagee to be held by the mortgagee as further

security. In default of the mortgagor to obtain such insurance, the mortgagee may procure

the same, not exceeding the amount aforesaid, and may pay and expend for premiums

for such insurance such sums of money as the mortgagee shall deem necessary. 8. COVENANT NO. 8. That if there be more than one mortgagor in a mortgage, all covenants, terms,

promises and obligations set forth in the mortgage or adopted by reference are agreed

to be joint and several covenants, terms, conditions, promises and obligations of

each of the mortgagors thereto. 9. COVENANT NO. 9. That this mortgage is made upon the express condition that if all sums secured

hereby shall be paid at the time, place and manner mentioned in the mortgage, or in

any of the covenants provided by this section which shall be adopted by reference,

the mortgage and the estate therein mentioned and described shall cease, determine

and be void, and the mortgagor, for himself or herself, his or her heirs, executors,

administrators, successors and assigns, covenants and agrees to pay in lawful money

of the United States to the mortgagee all sums secured by the mortgage, or by the

terms of the covenants adopted by reference at the time and in the manner therein

provided, and if default be made in the payment of the principal or interest or any

part thereof described in the mortgage, or of any promissory note or other instrument

or obligation for which such mortgage is given as security, the whole of the principal

sum for which the mortgage is given, which shall be then unpaid, shall become forthwith

payable, although the time expressed in the promissory note or notes or other obligation

or obligations shall not have arrived. 10. COVENANT NO. 10. That it is understood and agreed that all the natural increase, during the existence

of this mortgage, of any livestock which shall at any time be subject to the lien

hereof, and all other livestock of the same kind as that described in the mortgage

which in any manner is acquired by the mortgagor during the life of the mortgage,

and all wool grown upon or produced by any sheep which shall at any time be subject

to the lien of the mortgage, is property mortgaged hereunder and subject to the lien

of the mortgage. 11. COVENANT NO. 11. That the mortgagor covenants and agrees to keep all livestock mortgaged or subject

to the lien of the mortgage in good condition, and care for, inspect and protect the

same, and provide and maintain sufficient blooded, graded breeding stock to properly

serve any female livestock at any time subject to the lien of the mortgage, and in

general to exercise such care in rearing, branding, ranging and feeding all livestock

subject to the lien of the mortgage as is consistent and in accord with good business,

and with the customary manner of handling that kind of livestock which is subject

to the lien hereof. Should the livestock or any part thereof at any time, in the opinion of the mortgagee,

require care, attention or protection other than that provided by the mortgagor, then

the mortgagee may enter or cause entry to be made upon any property where the mortgaged

livestock or any part thereof may be found, and assume control, custody and possession

of the same, and at the expense of the mortgagor care for, protect, and attend to

the same in such manner as it may deem necessary. 12. COVENANT NO. 12. That it is further understood and agreed that the mortgagee, its agents or attorneys,

shall have the right at all times to inspect and examine any property which may at

any time be subject to the lien of the mortgage, for the purpose of ascertaining whether

or not the security given is being lessened, diminished, depleted or impaired, and

if such inspection or examination shall disclose, in the judgment of the mortgagee,

that the security given or the property mortgaged is being lessened or impaired, such

condition shall be deemed a breach of the covenants of the mortgage on the part of

the mortgagor. 13. COVENANT NO. 13. That upon default of any of the terms, conditions, covenants or agreements of any

chattel mortgage whereby livestock is mortgaged, it is agreed that the mortgagee may,

without foreclosure and without legal proceedings and without any previous demand

therefor, with the aid or assistance of any person or persons, enter upon the premises

and ranges of the mortgagor or such place or places as any of the property subject

to the lien of the mortgage is or may be found, and take, lead, drive or carry away

the mortgaged property or any part thereof, and with or without notice to the mortgagor,

at either public or private sale, sell and dispose of the same or so much thereof

as may be necessary to pay the amount and sums secured by the mortgage, for the best

price it can obtain, and out of the moneys arising therefrom it shall retain and pay

the sum or sums then due or payable under the lien of the mortgage, and interest thereon,

and all charges and expenses incurred in gathering, feeding, caring for, and selling

the property or any part thereof, and any other expenses and charges incurred by the

mortgagee, and all other sums secured by any of the terms of the mortgage, and any

overplus shall be paid to the mortgagor. The mortgagee is expressly authorized and empowered, upon any such sale, to make

and execute such bills of sale or other conveyances necessary to convey to the purchaser

or purchasers thereof an absolute title in the property so sold. It shall not be necessary for the purchaser or purchasers at any such sale or sales

purported to be made under the powers granted hereunder to inquire into or in any

way be or become responsible for the actual existence of the contingency or contingencies

upon which such sale or sales shall be made by the mortgagee, and title to the purchaser

or purchasers of the property so sold shall be good and sufficient; and the mortgagor

agrees that the decision of the mortgagee as to the actual existence of the contingency

or contingencies upon which the sale or sales as aforesaid is or may be predicated

shall be conclusive and binding upon the mortgagor. 14. COVENANT NO. 14. That it is expressly agreed by and between the mortgagor and mortgagee that, in the

event suit shall be instituted for the foreclosure of the mortgage, the mortgagee

may, at its option and without notice, apply for the appointment of a receiver for

the purpose of taking possession of the mortgaged property pending foreclosure, and

with the approval of the court wherein such suit is instituted, such receiver as may

be designated by the mortgagee shall be appointed. All costs in connection with the appointment of a receiver or in connection with

the discharge of the duties of the receiver shall be taxed as costs in the suit. 15. COVENANT NO. 15. That it is expressly agreed and understood that in any sale of any of the property

at any time subject to the lien of the mortgage, under the terms of the mortgage or

any of the covenants adopted by reference, the property may, at the option of the

mortgagee, be sold in one lot or parcel or in such other lots or parcels as may be

designated by the mortgagee; and it is further covenanted and agreed that the mortgagee

may become the purchaser of the property or any part thereof at any sale made under

any of the terms of the mortgage, or upon foreclosure.