Minecraft Graphical Glitches Making Game Unplayable?

I'm trying to play minecraft but I keep getting these giant graphics glitches making the game unplayable.
I'm running a bukkit server for minecraft 1.7.10. I'm using this old version because it is the last version of minecraft to have metadata which my resource pack utilizes. This happens on any server and in single player. When I see these glitches the game has a massive lag spike for about half a second. They occur often enough to make the game unplayable. I can get rid of them temporarily by reloading the chunks with "F3+A" but they will start to appear again in a few minutes.

Running Minecraft 1.7.10 with:
-Optifine_1.7.10_HD_U_A4
-ShadersMod-v2.3.29mc1.7.10

Computer specs:
-MSI Radeon HD 7770
-AMD fx8350 4.2GHz Processor
-Windows 7 64-bit

Here are some screenshots of what the glitches look like:
Minecraft Graphical Glitches Making Game Unplayable

If you have any idea what might be causing this please comment. I'm dying to start building again.

When ever I set Chunks to above 10, I get major graphical glitches like that. Same graphics card, btw. Try setting your Render Distance: Chunks to 10 or lower.