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HomeMy WebLinkAbout1177 TO HAVE AND'PQ HOLD, the said pro~rty, together with all and singulaz ther~h ts, members, Leredi- taments, and appur:anances thereunto belonging or in any wise appertaining, unto seoond party, its suooessors and assigns, in tee simple forever; and first party hereby binds himself ( itself his ( its ) heirs, executors, admin istrators, successors and assigns, to wazrant and forever defend said property unto seoond party, its sucoessors and assigns, from and ag ~Vfirst p~the heirs, executors, administrators, sucoessors and assigns of first party and all other persons who er la y claiming ar to claim the same or any pazt thereof. PROVIDED ALWAYS, NEVERTHELESS, and it is the true intent and meaning of the parties M these presents, that if first party shall pay, or cause to be paid, unto seoond party, its successors or assigas, said debt oz sum of money, with interest thereon as aforesaid, and shall p~form all terms, ~nditions, and ouve~?ants acoor~ ing to the true intent of said note and thic mortgage and any other instrument securing said nobe, and oo~nnply with all the provisions of the Fe~ieral Farm Loan Act and all amendments thereb~, and with the regulations j issued and that ma be issued by the Fazm Creciit Administration, all of which are znade ap~t hereof, ~ then this mortgage shall cease, determines and be utterly null and void; otherwise it sha~re~nain in fu71 foroe and ~ effect. ` FOR THE CONSIDERATION AFORFSAID, fn~st party covenants az follows: 1. First party is lawfully seized of said property in fee simple and has a perfed right M convey same; there are no encumbrances or liens whatsoever an said property ea~oept this mortgage. 2. First parly will insure and kcep insured as may be requued by secondparty from time to time all. ~ groves and orchards now on said property or that may hereafter be thereonaga~nst Ioss -ar damage by fire, wind storm, hail, frost, freeze, and/or other casualty, and all build~ngs now on sai'd property, and all building,s which may .hereafter be erected thereon, agamst loss or damage by fire, hail, windstorm, and/or other casualty, in such form, such amounts, and ia such company or oompanies, as shall be satisfactory to seoond party, the loss, if any, to be payable to seoond party as its interest may appear at the time of the loss. First party will deliver to second party the policy or policies of insuranoe with mortgagee clause attached thereto satisfactory to seeoad party, and will prompdy pay when due all premiums for such insurance. If any grove or orchard shall be de- stroyed or damaged iiy fire, windstorm, hail, frost, freeze, and/or othear casualty, the amount reoeived in setde- ment of the lass or damage may be applied at the option of second party on suchpart o# the indebtedness secvred by dus instrument as seoond party may in its sole discretion determine. If any building on said property so insured shall be destroyed or damaged~, the amount reoeived in settlement of the loss or damage may beap- plied at the option of first narty to the reoonstrudion or repair of the buildings so destroyed or dannaged. sub- ~ ject to the regulations issued or that may be issued under ihe Federal Farm Loan Ad or acts amendatory thereof or supplemental thereto; and any portion of the proceeds 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 pay able, aD taxes, assessments and other charges that may be levied i ~ or assessed against said property, and all judgments and all other amounts that may be or become a lien ihereon. 4. First pazty witl keep in good order and oondition, pr~serve, and repair, rebuild and restore all terraoes, buildings, groves, orchards, fenoes, fuctures, shrubbery and other improvements, of every ldad and nature, now on said land and hereafter erected or plaoed thereou that may be d~toyed or damaged by fire, windstorm or otherwise, and will not permit the change, injury or removal ihereof, will not oommit or p~tnit waste on said land, and will not, exoept with the written oonsent of seoond party, cut, use or remove, or permit the cutting, use or remaval of, anv timber or trees on said land for sawmill, turpentine or other uses or purposes, eaccept far fire- wood and other ordinary fazm purposes. First parly will also preserve and keep in good order and oondition all trees and timber now and hereafter growing upon the said property, and will at all times protect the trees and timber against loss or damage by fires all to the satisfaction of the seaond party. 5. First party will at all times praperly fertilize, cultivate, care for, and maintain in a productive condition all the grove and orchard trees naw on said propedy or bereafter planted t~ere~n, and will protect the ~ro~ves and BOOK172 PAGE1~rt3 ~ < ; - -y~r` u,"~r.`..rr-~:. ~ _ - ' - ~ ,H,. ~,y.. - . . ~ . ''~,-s:;:;;