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HomeMy WebLinkAbout2732 ; . „ ~ - - - ~ , , ~ . P i1l . I ~ ;i i! ;I i i ~ !I i . ~I . ~ . . I, . . . il ~ li i• . i. ;I ~i i' - i . ;i . • I! . i' ~ ii ;i TO HAYE AND TO HOLD, the said property. together with all and singulaz the rights, members, heredi- I tamcnts, and appiutenances therei+nto belonging or in any wise appertaining, unto second party, its suooessors and assigns, in tee simple forever; and first party hereby binds himselF ( itself ~ his ( its ) heirs, ex~utors, admin- istraters, successors and assigns, to warrant and forever defend said property unto seoond party, its sucoessors and assigns, from and agaiust first party, the heirs, executors, administrators, sucoessors and assigns of first party I' and all other persons whomso~.wer lawfully claiming or to claim the same or any part thereof. I' PROVIDED ALWAYS, NEVERTHELFSS, and it is the true intent and meanii?g of the parties to these i~ presents, that if first party shab pay, or cause to be paid, unto seoond party, its successors or assigns, said debt a~ ~ j~ sum of money, with interest thereon as aforesaid, and shall perform all terms, conditions, and rnvenants accord- ( ~ ing to the true intent of said note and this mortgage and any other instrument securing said note, and comply - with all the provisions of the Federal Fazm Loan Act and all amendments thereto, and with the regulations issued and that may be issued by the Farm Credit Administration, all of which are hereby made a; art herevf, ~ ~ then this mortgage shall cease, determina, and be utterly null and void; otherwise it shall remain in~;~l force and ~ effect. i, ~ j; FOR THE CONSIllERATION AFORFSAID, first party covenants as follows: 1. First party is lawfully seized of said property in fee simple and has a perfed right to oonvey same; there ~ i~ are no encumbrances or liens whatsoever on said property except this mortgage. ~ I! 2. First party will insvre and keep insured as may be required by second from time to time sIl. i~ ~ i groves and orchazds now on said property or that may hereafter be thereon aga~nst oss or damage by fire, wind- il, storm, hail, frost, frceze, and/or other casualty, and all buildings now on said progerty, and all buildings which ~ i; may hereafter be erected ihereon, against loss or damage by fire, hail, windstorm, and/or other c~sualty, in such form, such amounts, and in such company or companies, as shall be satisfactory to seaond party, the loss, if ~ 'i any, to be payable to secoud party as its interest may appear at the time of the loss. First party will deliver M " second party the policy or policies of insuranoa with mortgagee clause attached thereto satisfactory to second , and will rompd when due all remiums for such insurance. If an ove or orchard shall be d~ ~ stro~ed or dama ed b Yfi~e windstorm, hail, frost, freeze, and/or other casual y~the amount received in settle- ~ ment of the loss or damage may be applied at the option of second party on such part of the indebtedness ~ secured by this instrument as second pazty may in its sole discretion determine. If any building on said property so insured shall be destroyed or damaged, the amount received in settlement of the loss or damage may be ap- ~ plied at the option of first party to the reconstruction or repair of the buildings so destroyed or damaged, sub- ' ject to the regulations issued or that may be issued under the Federal Fazm Loan Act or acts amendatory = I~ thereof or supplementai thereto; and any portiun of the proceeds not so used shall be applied on the debt hereby ii securecl in s~uh manner as second party, in its sole discretion, may determine. ~ j!. 3. First party will pay, when due and pa~•able, all ta~ces, assessments and other chazges that may be levied or assessed against said property, and all judgments and all other amounts that may be or bec~ome a lien thereon. ~ 4. First party.will keep in good order and condition, preserve, and repair, rebuild and restore all terraoes, buildings, groves, orchards, fences, fixtures, shnibbery and other improvements, of every kind and nature, now ~ i; on said land and hereafter erected or placed thereon that may be destroyed or damaged by fire, windstorm or ~ otherwise, and wil! not permit the change, injury or removal thereof, wil~ not commit or gerniit waste on said land, and will not, except with the written consent of seoond party, cut, use or remove, or perinit the cutting, use ;i or removal of, any timber or trees on said land for sawmill, turpentine or other uses or purposes, eacept for fire- . ~ wood and other ordinary farm purposes. First party 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 ihe trees and ~ ~ timber against loss or damage by fire, all to the sadsfaction of the seoond party. ~ 5. First party ~vilt at all times properly fertilize, cultivate, care for, and maintain in a productive condition ~ all the gove and orchard trees naw on said property or hereafter planted thereon, and will protect the gcaves and I! ~04R I~E~~ ~j ~ - - - _ _ ~ ~ _ _ ~a . _ . _ _ _ . , _ _ .