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HomeMy WebLinkAbout1984 TO HAVE AND TO HOLD, the said property together with all and singular the rights, mesnbers, hereditaments, and appurtenances thereunto ~elonging or in any wise apPertainin8, unto second party, ita successors and assigna, in fee aimple forever; aad first party hereby binds hin~selt (it- self)~ his (its) heirs, ~acecutors, administratora~ succeasors and assigns, to warrant and forever defend said properi~to second perty, its successors and assigns, from and agaiast first party, the heirs, executorn, a trators~ successors and assigns of first patty and all other persons whomsoever. , lawtully claiming or to ctaina the same or aqy part thereoL PROVIDEDr ALWAY3, NEVERTHELESS. and it is the true intent and meaning of the parties to ~ these presents, thst if first party ahall paq, or cause to be paid, unto second party~ its suc~.~essors or as- signs, said debt or sum of money, with interest thereon as aforesaid, and shall perform all terms, co~ ditions, and covenants according to the true intent ot 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 a?ith the regulations issued and that may be issued by the Farm Credit Ad- rainistration, all of which are hereby made a part hereof, th.en this mortgage shall ce~se, determine, and be utterly null and void; otherwise it shall remaia in full force and effec~ FOR TIiE CONSIDERATION AFORESAID, first party covenants as follows: 1. F`irst party is lawfully seized of said property in fee sunple and has a perfect right to convey same; there are no encumbrances or liens whatsoever on said property except this mortgage. 2. ~rst party will insure and keep insured as may be required by second party from time to time allgroves and orchards now on said property or that may hereafter be thereon against loss or damage by fire. windstorm~ hail, #rost, freeze~ and/or other casualty, and all buildings now on said rnperty, and all buildings which may hereafter be erected thereon, against loss or damage by fire, hai~ windstorm, and/or other casualty, iu such form, sueh amounts, and in such company or compani~, 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 pa"rty the policy or policies of insurance with mort gagee clause attached thereto satisfactory to second party, and Rzill promptly pay when due all pr~miums for such insurance. If any grove or orcliard shall be destrayed or daznaged by fire~ windstonn, hail, iraet, freeze, and/or other casualtq, t6e amount received in setttemeat of the loss or damage anay be applied at the opt~on ai second party on such part of the indebtedness secured' by this instrument as second party may in its. sole discretion determine. If aay building on said property so insured shall be ± destroyed or damaged~ the amount received in settlement of the loss or damage may be ap lied at the i option of Hrst party to the reconstruction or repair of the buildings so destroyed or damagec~ subject to the re~ aons issued or that may be issued under the Federal Farm Loan Act or acts amendatory thereo~ or supplemental thereto; and any portion of the proceeds not so used shall be applied on the deht hereby secured in such manner as ~.ond party~ in its sole discretion, may deternnine. 3. -Flrst party will pay~ when due and payable, all taxes~ a~ssments and other charges that may be levied or assessed against said pmperty, and all judgments and all other amounts that may be or become a lien thereon. 4. ~rst party will keep in good order and condition, preserve, and repair, rebuild and restore all ter- races, buildings, groves, _orchards, fenc~es. Hztures. sl~rubbery and other improvements, of every kiad and nature. now on said land and hereafter erected or placed thereon that may be destroyed or damaged by fire, windstorm or otherwise, snd will not permit the chanbe, injury or removal thereof, will not com- mit or permit waste on ssid land, and will not, except with the wrttten consent of second party, cut, use or remove~ or permit the cutting, use or removal of, any timber or ti~ees on said land for sawmill, turpentine or other uses or purposes, ezcept tor firewood and other ordinary farm purposes. I~rst party will al~o preserve and keep in qood order and condition all trees and timber now and hereaftergrowing upon the said property, and wil~ at all times protect the trees and timber against Zass or damage by fire, all to the 3atisfaction o~ the second party. 5. F~rst party will at all times properly fertilize~ cultivate, care for, and maintain in a productive oondition all the grave and orchard trees now on said property or herea#ter planted thereon, and will protect the groves and orchards against lo~s or damage by fire by making and maintaining proper Hr~ . breaks on and around said property, and bq keeping undergrowth cut, to t6e satisfaction o! second ~ party. Fjrst party will not top-work thegro ve or orchard trees without first obtaining the written con- ~ sent of second party. Second party fs hereby authorized and empowered to have appraisals o! { said prnperty made by a Land Bank appraiser, or by others, at such times as second party, in ita sole discretion, may desire. The cost of such appraisaLs shall be paid by first party immediatelq upon presen- tation of an itemized statement thereof and shall be secured by this instrument. 6. Tvme is oi the essence of said note and of this instrument. If first party fails to comply with any covenant, condition or agreement in this instrument or in the said note or in anq reamortization, renewal, deferment, or extension agreement, second party may, at its option. exercise any one or more of the following rights, powers, privileges, and remedies: (a) Pezform any one or more o~ the covenantg of Hrst party in this instrument and in the said note, and all amounts advanced by second party in doing so ahall be due and pay2ble by gt~st ~arty to second party immediately without notice, and shall be secured by this instrument, andp shall bear intereat irom the date ot advance by second party at the highest rate suthorized to be charged under the Federal Farm Loan Act, as amended. . (b) Declare all amounts secured by this instrument immediately due and payable without notice. ~c~ suthorized byediaW y to foreclose this mortgage, and pursue such other remedies as may be ' 7. As further security for the paqment of the note herein d~scribed and for the pertormance of all ~ the terms, conditions, and covenants o# said note and oi this mortgage, first party herebq transfers, assigns, and sets over to second party all of the crops sown or growing upon the safd mortgaged premises at the time of ~ng suit for foreclosure hereof and thereafter,.and all of the rents, issues, and profits oi the said mortgaged prenaises unpaid and uncollected at the time of filing suit for foreclosure hereof and thereaiter, and upoa filing suit tor foreclosure, or at any time thereafter, second party shall be entitled to have a receiver appointed to take charge of the said mortgaged pre:nises and the crops sown or ; growing Wereon, together with the safd rents, issues, and profits ansing therefrom and hereby assigned. and hold the same subject to the order and direction oi the court. ~ ~166 ~198~ ~ ~ _ - _ _ . _