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HomeMy WebLinkAbout2408 i • ~ t TO HAV~ AND TO HOI.D. the said property, together.. with all and singular the rights, members, heredita- ments, and appurtenances thereunto belonging or in aay wise appertaining,-unfo ~second garty, its succestors and as- signs, in fee sunple forever: and first party hereby binds himself (itself), his (its) heirs, executors, administrators, successors and assigns~ to warrant and forever defend said property unw second party, its successors and assigns, - from and against first party. the heins, executors, administrators, successors and ass~gns of first party and all other persons whomscever lawfully claiming or to claim the"same or any part thereof. PROVIDED AI,WAYS, N~VERTHELESS, 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 assigns, said debt or ~ sum of money, v~ ith interest thereon as aforesaid, and shall perform all terms, conditions, and covenants according to the true intent of said note and this mortgage and any other instrument securing said note, and rnmply with all the provisions of the Federal ~azm Loan Act and all amendments thereto, and with the regulations issued and that I may be issued by the Farm Credit Administration, 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 ef~ect. ~ FOR THE CONSIDERA'rION AFORESAID, first party rnvenants as follows: 1. First party is lawfully seized of said ~roperty in fee simple and has a perfect right to convey same ; there are no encumbrances or liens whatsoever on said property except this mortgage. 2. First party will insure and keep insured as may be required by second party fmm time to time all groves and orchards now on said property or that may hereafter be thereon against loss or dan~age by fire, windstorm, hail, frost, freeze~ and/or other casualty, and all buildings now on said property, and all buildings which may hera. after be erected thereon, against loss or dacnage by fire, hail, windstorm, and/or other casualty, in such form, such amounts, and in such rnmpany or companies, as shall be satisfactory to second garty, the loss, if any, to be payable to second party as its interest may appear at the time of the loss. First patty w~U deliver to second party the policy or policies of insurance with mortgagee clause attached thereto satisfactory to second party, and will prompdy pay when due all premiums for such insurance. If any grove or orchard shall be destroyed or damaged by fire, wind- storm, hail, frost, freeze, and/or other casnalty, the amount received in settlement of the loss or damage may be e 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 bu~lding 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 bnitdings so destroyed or damaged~ subject to the reguiations issued or that may be issued under ~ the Federal Farm Loan Act or acts amendatory thereof or supplemental thereto ; and any portion of the proceods ~ 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. assessments and other charges that may be levied or assessed a~ainst said property. and all judgments and all other amounts that may be or become a lien thereon. 4. First party will keep in good order and condition, preserve, and repair, rebuild and restore all tenaces, buildings. ~roves, orchards. fences. fixtures, shrubbery and other improvements, of every kind and nature, now on said land and hereafter erected or placed thereon that may be destroyed or damaged by fire, windstorm or otherwise, and will not permit the chan~e, in~ury or removal thereof, will not commit or permit waste on said land, and will not~ except with the ~ritten rnnsent of second party. cut, use ot remove, or permit the cutting. use or removal of. any timber or trees on said land for sawmiil, turpentine or other uses or purposes, except for firewood and other ordinary farm nurposes. First party a~ill also preserve and keep in good order and condirion all trees and timber now and hereafter growing upon the said property. and wili at all times protect the trees and timber against loss or damage by fire, all to the satisfaction of the second party. 5. First party will at all times properly fert~ize. cultivate, care for, and maintain in a productive condition all the grove and orchard trees no~~ on said property or hereafter planted thereon, and will protect the groves and . BOOK ~U 1 PAG~24Q8 ~~'"~x ~ ~~_~"'~l=t'"..a-~` -4~»^ ~rr . _ . . . • • xa`~ s~-- , - - ~ . a~.~.::~::::= ~ - -