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HomeMy WebLinkAbout0720 1'O HAVE AND TO HOLD, the said propixty, together with all and ungular the righb, members. hereditar mests,, and ip~urtmanaes then~mto bdonging or in any wisespp rtaining, tmto secoad puty, its suoccssors aad as- ' signs, ia fee s~mpie forr~?er; aad first part~ hereby binds himsdf (itself), his (ib) heirs, e~cecotflrs, admiaistraLocs, ~ successors aad assigna, to wamat and fonver defend said property udw aecond party, its aaaoes~ors and assigns, ; from and against first party, the heirs, executors, administrators, suocessors and ass~gns of first party and all other E persons whomsoever lawfutIy ctaiming or to ctaim the samc or any part thereof. ; PROVID~D AI,WAYS, NEVERTHELFSS, and it is the true intent and resents, that if first shait ~ of tt~e parties to these ~ P pa~ty pay, or esuae M be paid~ anto axond party, its successors ar assigns, said debt or sam of money, with inberest thereon as aforeaaid, aad shall perform all terms, conditions, and coveaaats aooo to the hve inta~t of said note and this mortgage and any other instrument aecur~ing said nate, aud oomply with ~ ~ praviaiona of the Federal Farm I,oan Ad and all amendments ther~to, and v~nth the regulations issued and tt~at ~ may ba issued by the Farm Credit Administcation, all of which are hereby made a part hereof, theu this mortgage ~ shall aase, determine, and be ntterly null and void; otherwise it shall re~nain in full force and ef~ect. ~ FOR THE CONSIDERATION AFORESAID, first party covenants as follows: ~ l. First party is Iawf~illy seiud of said propaty in fee simpie and has a perfect right to convey same ; there ~ are no aicumbraaces or liens whatsoever on said property except this mortgage. ~ 2. ~rst party will iasun and keep insurtd as tnay be required by saond party from tirne to time all gtoves ~ and orchards now on said property or that maq herafter be thaeon against loss or damage by 5re, arindstorm, N hail, frost, freeze, and/or other rasualty, and all buildings now on said property, and all buildings which may hera after be erected thereon,- against loss or damage by fire, hail, windstorm, and/or other casualty, m such form, such ' amounts, and in such company or companies, as shail be satisfactory to second party, the loss, if any, to be payable ` to second party as its interest may apprdr at the time of the loss. First party will deliver to second party the policy ~ or policies of insurance with mortgagee clause attached thereto satisfactory to second party, and will pmmptly pay ~ when due all premiums for such insurance. If any grove or orchard shali be destroyed or daznaged by fire, wind- ~ storm, hail, frost, freeze, and/or other casualty~ the amount received in settlement of the ]oss or damage may be ~ applied at the option of seeond party on such part of the indebtedness secured by this instrumart as second party ~ may in its sole discretion dMermma If any building on said property so insured shall be destroyed or damaged, the k amount received in settlement of the loss or damage may be applied at the option of 6rst party to the reconstruction ~ or repair of the buildings so destmyed or damaged, subjtct to the regulations issued or that may be issued under ~ the Federal Farm I.oan Act or acts amendatory thereof or snpplemental therebo ; and any portion of the proceecls ~ noi 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, assessments and other charges that may be levied or ~ assessed against said propcrty, and all judgments and all other arraunts that may be ot baome a lien thereon. ~ ~ ~oQx240 117 ~ ~ _ ~ . . _ _ _ _ _ : ~