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HomeMy WebLinkAbout2160t~ ~ooK - 4 187 r ST. LUCIE COUNTr. FLA. a w p TO HAVE AND TO HOLD, the said property, together with all and singular the rights, members, hereditaments, and appurtenances thereunto belonging or in any wise appertaining, unto second party, its successors and assigns, in fee simple forever; and first party hereby binds himself (it- self), his (its) heirs, executors, administrators, successors and assigns, to warrant and forever defend said property unto second party, its successors and assigns, from and against first party, the heirs, executors, administrators, successors and assigns of first party and all other persons whomsoever lawfully claiming or to claim the same or any part thereof. PROVIDED ALWAYS, NEVERTHELESS, and it is the true intent and meaning of the parties to these presents, that if first party shall pay, or cause to be paid, unto second party, its successors or as- signs, said debt or sum of money, with interest thereon as aforesaid, and shall perform all terms, con- ditions, and covenants according to the true intent of said note and this mortgage and any other instru- ment securing said note, and comply with all the provisions of the Federal Farm Loan Act and all amendments thereto, and with the regulations issued and that may be issued by the Farm Credit Ad- ministration, all of which are hereby made a part hereof, then this mortgage shall cease, determine, and be utterly null and void; otherwise it shall remain in full force and effect. FOR THE CONSIDERATION AFORESAID, first party covenants as follows: 1. First party is lawfully seized of said property in fee simple and has a perfect right to convey same; there are no encumbrances or liens whatsoever on said property except this mortgage. 'l. First party will insure and keep insured as may be required by second party from time to time all groves and orchards now on said property or that may hereafter be thereon against loss or damage by fire, windstorm, hail, frost, freeze, and/or other casualty, and all buildings now on said property, and all buildings which may hereafter be erected thereon, against loss or damage by fire, hail, windstorm, and or other casualty, in such form, such amounts, and in such company or companies, as shall be satis- factory to second party, the loss, if any, to be payable to second party as its interest may appear at the time of the loss. First party will deliver to second party the policy or policies of insurance with mort- gagee clause attached thereto satisfactory to second party, and will promptly pay when due all premiums for such insurance. If any grove or orchard shall be destroyed or damaged by fire, windstorm, hail, frost, freeze, and/or other casualty, the amount received in settlement of the loss or damage may be applied at the option of second party on such part of the indebtedness secured by this instrument as second party may in its sole discretion determine. If any building on said property so insured shall be destroyed or damaged, the amount received in settlement of the loss or damage may be applied at the option of first party to the reconstruction or repair of the buildings so destroyed or damaged, subject to the regulations issued or that may be issued under the Federal Farm Loan Act or acts amendatory thereof or supplemental thereto; and any portion of the proceeds not so used shall be applied on the debt hereby secured in such manner as second party, in its sole discretion, may determine. 3. First party will pay, when due and payable, all taxes, aasessznents and other charges that may be levied or assessed against said property. and all judgments and all other amounts that may be or become a lien thereon. e a L ' - --'- em`u1~.