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Home My WebLink About2721 ~ r ~ TU fiAVE ANU TU tWLU, the said property. tugcthcr with all and singular the rights. nxmbe~s. hrreditanknis. and ; appurtci~anas thcccunto brlunging ur in any wise appertaining~ wua second party. its sucassors and auigns. in iee simpk ~ furcver, and first party hereby binds himself (itscln, his (its) heirs. executo~s. administntors. sucassors and auigns. to ' warrant and furevcr defend said property unto serond party, its succeswrs and assigns. f~om and sgainst fint party~ the hein. executurs, adnunislrAturx. sua~eswrs and auig~s uf Pirst party and all other pcrsons whomwcver lawfully claiming or to claim ~ d~e sanx o~ any part thereof. i PROVIDED ALWAYS. NEVERTNELESS. and it it the true intent and meaning of the parties to these presents, that if first party shall pay, or cawe to be paid, unto secv~nd party, its successors or assigns the total indebtedness xcured hereby , whett~ec evidenced by note fust above described, future advance notes. or otherwiu, with interest thereon as afaresaid, and shall perform all ternu, rnnditions, and cov~enants ac~wrding io the true intent uf raid note. any other instrument hereinafter referred to, and this nwrtgage and any other instrument securing note first above described or other instrument evidencing indebted~ess of first party to second party, and comply with all the provisioas of the Federal Farm Loan Act and all arnzndments thereto. and with the regulations iuued and that may be issued by the Farm Credit Administration, all ot which are hereby made a part hereof, then this mortgage shali oease, determine, and be utterly null and vuid; otherwiu it shall remain in full fora and efiect.. . ' FOR THE CONSIDERATION AFORESAID, first party covenants as follows: - 1. Firsi party is lawfully seized of said property in fee simple and has a~erfect right to convey rame; there are no encumbrances ot Gens whatsoever on ssid property except this mortgage. 2. This mortgage shall also secure any future advances made by second party, at its option, to first party, or one or more or all of them, as may be made during the time a~thoriaed by law for such advanoe, PROVIDED THAT THE MAXIMUIN AMOUNT SECURED t~REBY SHALL NOT AT ANY ONE TIME EXCEED TNE PRINCIPAL SUM OF S 16~, 000.00 , plus interest thereon, and any disburaements msde for the payment of taxes, levies or insurance on the property cov~ered-by the Gen of this mortgage, with interest on such disbursements. In the event of such advance, the amount thereof shall be added to the mortgage debt. - 3. It is further understood and agreed by all parties hereto that the execution by fust party and the acceptance by second party of any notes, renewal notes or other instruments, or the agreement by second party to any reamortizations, extensions, deferinents or other rearrangements as contemplated herein st~all not be construed as payment of any indebtedness hereby secured, (whether or not, among other changes in ter~, the interest rate or rates remain the same ~ and/or time tor payment is thereby extended or lessened), and shaU not discharge the Gen of this mortgage vvhich is to remain ~ in full force and effect until the total indebtedness secured hereby has been paid in full. All notes or other instruments , contemplated herein sl~all remain uncancelled and in possession of second pazty,its~surexessors and auigns, unW the total -indebtedneu hereby secured is paid in full. ~ 4. First party will insure and keep insured as may be required by xcond party from time to time all goves and . orchards now on said property or that may hereafter be thereon against loss or damage by fae, windstorm, hail~ fros[, freeu, andJor other casualty, and all building~ now on said property, and all buildings which may hereafter be erected thereon, ag,ainst toss or damage by fire, hail, vvindatorm, and/or other casualty, in such form, such amounta, and in such oompany or companies u shaU be satisfactory to seoond party, the ?oss, if any, to be payable to second party u ita interest may appear at the time of the loss. First party will deliver to seoond puty the~poGcy or poGcees of insurance with mortgagee ciause attached thereto satisfactory to second party, and will promptly pay when due all premiums for such insurance. If any grovae or orchard shall be destroyed or damaged by fue, windstorm, hail, frost, freeu, and/or other casualty, the amount received in setdement of the loss or damage may be applied at the option of second gaity on such put of the indebtedness secured by this instrument as second puty may in its sole discretion determine. If any building on said property so insured shall be destroyed or damaged, the amount received in aetdement of the !ou or damage may be applied at the option of first party to ~ the reconstruction or repair of the buildingt so desvoyed or damaged, subject to the regulations issued or that may be issued ; under the Federal Farm Loan Act or acts amendatory thereof or wppkmental thereto; and any portion of the proceeds not E so used shall be applied on the debt hereby secured in such manner as aecond party, in its sole discretion, may determine. ~ 5. First party will pay, when due and pa}able, all taxes, assessments and other charges that may be levied or ~ assesssed agaicist said property, and all judgments and all other amounts that may be or become a lien thereon. ~ 6. First party will keep in good ocder and condition, presern, and repair, rebuild and restore all terraces, buildings, ~ ~ groves, orchards. fences, fixtwes, sluubbery and other improvements. of erery kind and nature, now on said land and hereafter erected Qr placed thereon that may be destroyed or damaged by fue, windstorm or otherwise~ and will not permit ~ the change, injury or removal thereof, wil! not commit or permit waste on said land, and will not, exapt with the written consent of second party, cut, use or remove, or pemut the cutting, use or removal of, any timber or trees on said land for sawmill, turpentine or other uses or purposes, except for fuewood and other ordinary fazm purposes. First party will also preserve and keep in good order and condition 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 fire, all to the ratisfaction of the second party. 7. First party wiq at all times pcopedy fertiliu, cultivate, care for, and maintain in a productive condition all the grove and orchard trees now on said property or hereafter planted thereon, and will protect the groves and orchards against loss or damage by fue by making and maintaining proper firebreaks on and- around said property, and by keeping ~ undergrowth cut, to the satisfaction of seoond party. First party will not top-work the grove or orchard trees without first ; obtaining the written consent of seoond party. Second party is hereby authorized and empowered to hav~e appraisdls of said property made by a Land Bank appraiser, or by others, at such times as second party, in its sole discretion, may desire. The ~ cost of such appraisals shall be paid by first party immediately upon presentation of an itemized statement thereof and shall ~ be secured by this instrument. 8. Tinx is of the essence ot above recited note, this instrur*~ent and of any other instrument evidencing indebtedneu secured hereby. If first party fails to comply with any covenant, condition or agreement in this instrument, or in ~ said note, or in any reamortization, renewal, deferment, extension agreement or other instrument evidencing any g indebtedness secured hereby, second party may, at its option, exercise any one or more of the following rights, powers, ~ ~ privileges and remedies: ~ ~ i (a) Perform any one or more o~ the covenants oC first party in this instrument, in above recited note, or in any ~ ~ ~ other instrument evidencing any indebtedness secured hereby, and all sums advanced by second party in doing w { ~ shall be due and payable by first party to second party immediately without notice, and shall be secured by this ~ instrun~ent, and shall bear interest from the date of advance by second party at the highest rate provided in any note ~ or other instrument secured hereby. ~ (b) Declare all amounts secured by this instrument immediately due and payable without notice. ~ (c) Proceed immediately to foreclose this mortgage, and pursue such other remedies as may be authorized by law. ~ 9. As turther securiry for the payment ot the note herein described and any other insirument evidencing } indebtedness secured hereby and for the performance of all the terms, conditions, and covenants of said note, said other instruments and of this mortgage, first party hereby transfers, auigns, and xts over to second ~rerty all of the crops sown or ~ ~i89 ~ L ~ . _r~.,, :