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HomeMy WebLinkAbout2588 i . i . _ ~._=-~_-z-- - - - ~ ~ ~ . II . i ~ ~ - ~ i 'I , II i ~ ~ • . i~ I I ii I I1 . ;i - i. I I I i; i~ . !i :i li . ii ' I~ ' ~i ~;i TO HAVE AND 1'O HOLD, the said property. together with al! and singulaz the rights, members, heredi- ~ taments, and appurtenanees thereunto belonging or in any wise appertaining, unte seoond party, its suoc~ssors %i and assigns, in tee simple forever; and first party hereby binds himself ( itself his ( its ) heirs, eacecutors, admin istrators, successors and assigns, to wazrant and forever defend said property unto second parly, its successois i' and assigns, from and agamst firstputy , the heirs, executors, administrators, suc~essors and assigns of first party and alt other persons whomsoever Iawfully ciaiming or to claim the same or any part theteof. PROVIDED ALWAYS, NEYERTHELESS~ and it is the true intent and meaning of the parties to these i presents, that if first party shall pay, or cause to be paid, unto second party, its succ~essors or assigns, said debt ~ sum of money, with inter~st thereon as aforesaid, and shall perform all terms, oonditions, and covenants ascor~ ing to the true intent of said note and this mortgage and any other instrument securing said note, and oo~ply with all the provisions of the Federal Farni Loan Act and all amendments therebo, and with the regulations ; issued and that may be issued by the Farm Credit Administration, all of which are hereby made apart hereof, ~ then this mortgage shall c~ase, determina, and be utterly null and void; otherwise it shall reaoain in fu11 foroe and ~ effed. . ~ FOR THE CONSIDERATION AFORESAID, first pazty oovenants as follows: ~ 1. Fust pacty is lawfully seized of said pmperty in fee simple and has a perfect right to oonvey same; there aze no encumbrances or liens whatsoever an said property except this mortgage. 2. First party will insure and keep insured as may be required by secondparty fram time to time aIl. groves and orchazds now on said property or that may hereafter be thereona~awst Ioss -or damage by fire, wind- storm, hail, frost, freeze, and/or otber casualty, and all buildings 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 in svch 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. ~irst pazty will d~liver to second party the policy _ or policies of insurance with mortgagee dause attached thereto satisfactory to secosid pazty, and will prompdy pay when due all premiums for such i~~~*~ce. If any grove or orchard shall be de- stroyed or damaged by fire, windstorm, hail, frost, freeze, and/or other casualty, the amount received in settle- ~ ment of - the loss or damage may be applied at the option of seoond party on suchpart 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 received in settlement of the loss or damage. may be ap- ~ plied at the option of first party to the reconstruction or repair af the buildings so destroyed or damaged, sub- ~ ject to the regulations issued or that may be issued under the Federal Farm Loan Act or acts amendatory ~ thereof or supplemental thereto; and any portiun of the proceeds not so used shall be applied on the debt he~reby 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 assesseci against said property, and all judgments and all other amounts that may be or became a lien thereon. ; 4. First party will keep in good order and oondition, preserve, and repair, rebnild and restore all terraces, buildings, groves, orctiards, f~ces, fixtures, shrubbery 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 ;i otherwise, and will not permit die change, injury or removal thereof, will not commit or permit waste on said land, and will not, except with the written consent of second party, cut, use or remove, or permit tbe aitting, use or removal of, any timber ar trees on said land for sawmill, turpentine or other uses or purposes, e~ccept for fire- wood and other ordinary farm purposes. First party will also preserve and keep in gaod order and oondition all trees and timber now and hereafter gowing upon the aaid property?, and wil) at all times protect the trees and timber against loss or damage by fire, all to the satis#action of ihe seoond party. 5. First party will at all times properly fertilize, cultivate, care for, and maintain in~a productive eondition ii all the grove and orchazd trees no~w oa said propaty or bereaEter planted thereon, s~nd wlll protect the groves and ; ~ aoac . nucE a _ . . y.,;. ':..Y.-~s.., '