HomeMy WebLinkAbout0274 together with atl buildings, ~tructures and other improvements novv or hereafter I~cated thereon, ac~d all and ~ingular
the tenements, hereditamenta~ appurtcnances and pnvileges. now or hereafter belonging or in anywi~ appertain~ng to
said property. or any part thereof, and all the estate, right, title and interest, induding a11 homesttad and dower righb
af the Mortgagor in and to said property, or any part thereaf ~ and tha renta, isaues and pro5ts thereof which are hereby
• axaeci6rally ass~gned, transfernd and set aver to the Mortgagee as additional security for the repayment of the ind~bted-
ness hereina:fter described; and togethee also with all water and watet rights, all wells, windmills, pipes, pipelines, wattr
storage tanks and towera, and all other water developments, storage or conservation facilides and structures, all pumps
and pumping ptants, all mators, engines, turbines, generators, transformera and other installatians, devices and tacilitie~
of every kind and description for the operation of said pumps and pumping plants, and all other machinery and equip-
rnent, now or hereafter located or used on, in or about said ~ropert~~: for or in connection with the control of water thereon~
or for the irrigatian and/or drainage thereof, or for furniahing sa~d property with water for domestic use or for stock.
TO HAVE AND TO HOLD the same unto the Mortgagee, its successors and assigns, for~ver, in fee simple.
The :~iortgagor hereby covenants with the Mortgagee that he is lawfully seized of said property in fee simple; that
he has fe~l power and lawful right to convey the same as aforesaid; that it shall be lawful for the Martgagee at all times
peaceably and quietly to enter upun, hold, occupy and enjoy said property; that said property is free from all liens and
encumbrances; that he will make such Eurther assurances to perfect the fee s~mple title to said propert~• as may reasonably
be required b~ the Mortgagce; and that he does hereby fully warrant the title to said prap~ert}• and wiA defend the same
against the claims of all persons whomsoever.
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The ~iortgagor hereby further assigns to the Mort~agee all of the rents, royaltiea, bonuses and benefits under any
existing and!cx future oil~ gas or mineral lease of any of the property hereb,r• mortgaged, as additional ~ecurity far the
payment of the indebtednesa hereby secured. The Mortgagor shail have the right to collect and retain su~h rents, royal-
ties, bonuxs and benefits until default hereunder or under the note hereby secured. In the event oi any such default.
the Mortgagee is hereby granted tlte unconditianal right and power, at its opdon, at any time while 6uch default rernains
outstanding, to denzand, receive and collect such rents, royaltiea, bonuses and benefits and apply same tnwards pay-
ment of the 'indebtedness hereby secured. The Mortgagee shall not be bound hereby to demand, receive or collecL any
of such rents, royalties, bonuses. or bene6ts, and shall not be responsible for failure to exercise the rights hereby granted,
and failure to exercise such rights after the happening of a default shall not be construed as a waiver oE such rights in the
event of a subsequent default.
This mortgage is on the condition that if the Mortgagor shall pay to the Mortgagee the indebtedness evidenced by
that certain promissory note of even date herewith in the principal aum of EIGHTEEN„ THO~T~~T~.-...-...-....~...-......
-Dollars
(~..~.~.,.OOO.~,.QQ bearing interest as therein provided, made by the Mortgagor and by..............................._....
EDWARD...SCHARFSCFiWERDT...and ~V~N.~?....$.,,...S~~:S.~RA~.,....h;~...y,!x.~~,
and payable to the Mortgagee at its Home Office in Hartford, Connecticut, in lawful money of the United States, in
instalments, the last nf which shall be due and payable on.......S.~j?~~~?.~Y...~,, 19.85~., and shall
keep anci perform all of the cnvenants, agrec:ments, conditions and stipulations contained her~ein ar+d in said note, then
the estate hereby granted shall terminate and this mortgage shall be void.
The Mortgagur hereby covenants and agrees with the Mortgagec as follows:
1. To pay the principal aad interest and all other sums payable by virtue of said promissor~• note and of this mort-
gage ~rvmptly as the same shall bec.-ome due.
2. To pay, before the same become delinquent, all taxes, asse~nents and other charges, general or special, already
levied or assessed or that may hereaEter be levied or assessed upon or against the property hereby mortgaged,
or any part thereof, and immediately upon request to furnish the Mortgagee the afficial receigts showing pay-
ment thereof.
3. To pay a!l liens which might b}~ operation of layv or otherwise be or become superior to the lien of this mortgage;
to keep said property in gaod condition and repair and not to do or permit waste thereon, or do or suffer anything
to be done which wauld depreciate or impair the value thereof and not to remove, demolish or make any sub-
stantial alterations to an}• of the buildings or ather improvements without the written consent of the Afortgagee.
4. "I'o cuitivate, fertilize, spra)~, dust and prune all citrus trees located on the m~rtgaged property in a goo~d and
husbandlike manner for and during the term of this mortgage, and in the event that the Mortgagor shall fait
to care properly for said gro~r~ as herein required, then the Mortgagee may, at its option, declare the entire in-
debtedness secured b}• this mortgage due and payabte, and rnay, at its option, foreclase this mortgage and ask
for and obtain a receiver to manage said grove during the time that said foreclosure is pending.
5. To keep the buildings and other impravements now or hereafter located on said property constantl}~ insureti
against lass or da~maae by fire, windstorm and such other hazarrl or hazards as may reasonably be required by '
the Mortgagee at any time while the indebtedness hereby secured remains unpaid, in an amount, in form and
in a company or companies satisfactor}~ to the Mortgagee, and to deposit the policies of such insurance and re-
newals thereot with the Mortgage~, with all premiums therefor paid and with mortgagee clause satisfactory to
the Mortgagee attached thereto. An~~ amount received by the Mortgagee under any such policy ma}~, at the
o~tion of the Mortgagee, (a) be applied toward payment of any sum hereby secured as the Mortgagee shall de-
termine, or (b) be used toWard the cost of rebuiiding or repairing the destroyed or damaged buildings or other
; improvernents on the mortgag~ property~ upon campletion of such rebuilding or repair to the satisfaction of the
~ illortgagee, or (c) be paid to the Mortgagor. Interest shall not he allowed on any insurance proceeds held by
- the hiortgagee pending completian of reconstruction ar repair of said buildings or other improvements. Such
policies af insurance and all renewals thereof are hereby ass~gned to the Mortgagee as additiona! security for the
~~ay~ment ef the indebtedness hereb}• secured and the Mortgagor hereby~ agrees that any values available there-
under upon ca~cellation or terminatioii of any of such policies or renewals, whether in the form of return of pre-
miums or otherwise, shall be payable ta the ;~lortgagee as assignee thereof.
6. In the event that the 1Vlortgagor shall fail to pay any taxes, assessments, insurance premiums, lien~ or charges
of any character, general or special, which the ~iortgagor is required hereunder to pay, the 11~tortgagee may,
at its aption, make pa.yment thereof and ma}~ alsa redeem the mortgaged propert}•, or any part thereof, from
t~~x sales, without any obligation to inquire into the validity of such taxes, assessments ar tax sales, the receipts
of the proper oRicers to be conclusive evidence of the validit~• and amount thereof. Shouid the i~'Iortgagor fail
' to keep the property in good repair or tn keep the buildings and other improvements insured, as herein agreed,
Ya~e
. B~~GK " ~ ,