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HomeMy WebLinkAbout2306 ~ ' ~ ?~S~ . ; , ~ ~ , ~ , i i S . ~ ~ F i t ; ~ I E # I TO HAVE AND 1'O HOLD, the said property, to8ether with all and singular the righta, membas, heredita- mmts, aad ap~urtmances there~nto belooging or in any wisespp rtaiaing, unto seoond party, its suoce~ora aad as- ~ sigas, in fee s~mpk forever; aad first patty hueby binds hia~ (itself), his (its) hdrs, e~cecntors, admiaiatrstiors, ! suocessors and to rvarrant and forever defead said m,to sec~ond ` . ' ~5~. P'~'oP~Y P~*tY~ its suoce~ors and a~igas, ; from and against first party, the hars, eacecutors, a.dministrab~rs, suocessors and ass~gns of first pariy aad all other ' persons whomsoever lawfully claiming or to claim the same or any part thereof. PROVIDED AI,WAYS, NEVERTH~LESS, and it is the true inteat and meaaing of tlx parties to these ~ { Pre~ts, that if firat party shall pap, or canse to be paid, nnto aa~ond party, its suoceasors or assigas, said debt or ; sum of monep, with intaest thereon as aforesaid, aad shall paform all terms, caaditions, aad c~oveaanb aooording i to the true inteat of said note and this mortgage aad any other ~meat securing said nobe, and a~mply with aU the ~ pravisions of the Federal Farm I.oaa Act and all azneadmaib thereto, and anth the regulations ~ssued and that may be is~ed by the Farm Credit Administration. all of which are haeby made a part hereof, then this mortgage ; shall oease, deternrine, and be utterly nu11 and void; otherwise it shall remain in full force and e~ect. ~ FOR THE CONSIDERATION AFORESA.ID, first party oovenants as follows: . ' 1. First party is lawfully seiud of said property in fa simple and has a pafect right to oonvey same; there are no encumbrauces or liens whatsoever on said property accept this mortgage. Z. First pariy vvill insun aad loeep insured as tnay be required bq sernnd party from time to tia~e all groves ; aad orchards now on said pnoperty or that may hereafta be thereon against loss or damage by Sre, windstorm, + hail, frost, freeze. and/or other casualtq, and all bu~dings now on said pmperty, and all buildings which may hera ; after be erected thereon, against loss or damage by 5n, hail, windstorm, and/or othtt casualtq, in such form, such ~ aawunts, and in such company or oompazues, as shall be satisfactorq to second party, the loss, ~f any, to be payable to second party as its interest maq appear at the time of the loss. First party will deliver tio second party the policy , or policies of insurance with mortgagee clause attachod thereto satisfactory to second party, and will promptlq pay when due all premiums for such insurance. If any grove or orc.hard shall be destroyed or damaged by 5re, wind- storm, hail, frost, freeze, and/or other casualty, the amount received in settlanent of the loss or damage may be applied at the option of seoond 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 receivcd in settlement of the loss or damage may be applied at the option of first party to the reconstrucrion or repair of the buildings so destroyed or damaged, subject to the regulations issned or that may be issued under the Federal Farm Lo~n Act or acts amendatory thereof or snpplernental thereto ; and any portion of the proceeds not so used shall be applied on the debt hereby secured in such manner as second pariy, in its sole discretion. may determine. 3. First party will pay, when due and payable, all taxes, assessments and other charges that may be ltvied or assessed against said property, and aU judgments and all other amounts that may be or baome a lirn thereon. ~ 80~(~~~ ~ -Y~~,~ ~ti ~ .x~4 ;