Loading...
HomeMy WebLinkAbout2708 ~ ( p-:_--- _ _ _ _ _ _ _ - - _ _ ~ ~ 1 ~ ' TO HAVE AND TO t~OLD, the said property. tagethcr witb all and singular thc rights, n~cmbera, hereditaaunts,.and , appurtenances thereunto belonging ur in any wise appertaining, unto second parry, its succeswrs and assigna. in fee simple forcve~; and first party hereAy binds hinuelf (itseln. his (its) hcirs. executors, administratots. succcuors and assigns. to warrant and (orever defend said property unto second party, its successors and assigns; from and agAinst first party, the heirs. executu~s, adnu~istrators, successors and assigns uf first party and all utl~er perwns whomsoever lawfully claiming or to claim the sanx ur any part thereof. . . PROVIDED AI.WAYS. NEVERt~L.ESS; and it is the true intent and meaning of the parties to thess preaents, that if f?rst party shall pay, or cau~e to be paid. unla serand party, its successors or assigns the total indebtedneu aecured hereby, whether evidenced by note first above described. fuwre advancr notes, or otherwise, with interest thereon as aforesaid, and shall ExrCorm aU ternu, conditions, and cov~epants ac~ording to the tcue intent of said note, any other instrument hereinafter referred to, and this mortgage and any other instrument securing note first abov~e described or other instrument evidencing ' indebtedness of first pasty to second party, and comply with all the provisions of the Federal Farm Loan Act and aD ~ amendmcnts thereto, and with the regulations issued and that may be issu~d by the Farm Credit Administration. all oC which are hereby made a part hereof, then this nwrtgage shall cease, determine, and be utterly null and void; otherwise it shafl remain in iull force and tifect. FOR TNE CONSIDERATION AFORESAID. first party covenants as follows: 1. First party is lawfully seized of said property in fee simple and has a perfect tight to convey same; there are no encumbrances or liens whatsoerer on said property exapt this mortgage. 2. This mortgage shaU alw secure any future adran~-es made by second party, at its option, to fust puty, or_one or nwre or all o[ them, as may be made during the time author`~zed by law for such advana, PROVIDED THAT THE MAXIMU[?1 AMOUNT SECURED HEREBY SHALL NOT AT ANY ONE TIME EXCEED THE PRINCIPAL SUM OE S 833, 200.00 , plut interest thereon, and any disbursements made for the payment of taxes, levies or insurana on the property cov~ered by the lien of this mortgage, with intercst on such disbursements. ln the event of such advance, the amount tliereof shall be added to the morigage debt. ~ 's. 3. it is further undetstood and agreed by all puties hereto that the execution by first party and the acceptana by ~ second party of any notes~ renewal notes or other insiruments, or the agreement by. seoond party to any reamortizations, ~ extensions, deferments or other rearrangtments as contemplated herein shall nut be oonstrued as payment of any ~ indebtedness hereby secured~ (whether or not, among other changes in tern~s, the intecest rate or rates remain the same ~ and/or time for payment is thereby extended or lessened), and shall not discharge the Gen of this mortgage which is to remain ' in fup force and effect until the total indebtedness secured hereby has been paid in full. All notes or other instruments ~ contemplated herein st?all remain uncancelled and in posseuion of second party. its successors and assigns, unW the total ; indebtedness hereby secured is paid in full. 4. First party will insure and keep insured as may be nquired by second party trom time to time all grovea and orchards nov~r on said property or that may hereafter be thereon against lou or damage by fue, windstorm, hail, fr~t, freeu, and/or other casualty, and all buildings now on said property, and all buildings which may hereafter be erected thenon, against loss or dacmge by fire, t~sil, windstorm, and/or other casualty, in wch form, wch amounts, and in wch company or companies u shaA be ~tiafactory to seoond p~rty, the loss, if any, to be payable to second puty u its interest may appear at the time of the loss. First party will deliver to second party the poGcy or policies of insurance with mortgpgoe clause attached thereto satisfactory to second party. and wili pcomptly pay when due all premiums for such insurance. !f any grove or orchard shall be destroyed or damaged by fire, windstorm, hail, fr~t, freeu, and/or other caauslty. the amount received in ; setilement of the loss or damage msy be spplied at the option of second party on wch put of the indebtednas secured by this instrument as seoond party may in its sole discrotion deternune. If any building on said property so inwred shall be ' destroyed or damaged, the amount r~ceived in settkment of the lass or damage may be applied at the option of first party to ~ the reconstruction or repair of the buildin~t so destroyed or damsged, subject to the regulstiona iswed or that may be issued i under the Federal Farm Loan Act or acts amendatory thereof or suppkmental thereto; and any portion of the proaeds not ~ so used shall be applied on the debt hereby secured in such manner aa seoond party, in ita sole discretion, may determine. S. First party will pay, when due and Qayable, all taxes. asaessments and other chugea that may be levied or assessed against raid property, and all judgments and all other amounts that may be or become a lien thereon. ~ 6. Ficst party wiU keep in good order and condition, preserve, and repair, rebuild and restore all terraas, building~, ~ groves, orchards, fences, fixtures, shrubbery and other improrements, of every kind and nature, now on said land and hereaCter erected or placed thereon that may be destroyed or damaged by fire, windstorm or otherwise, and will not permit the change, injury or remoral thereof, will not oommit or Qermit waste on said land, and will not, exoept with the written consent of second party, cut, use or remort, or permit the cutting, use or remoral of, any timber or trees on said land for sav?mill, turpentine or other uses or purposes, except for firewood and other ordinary fum purposes. First party will also preservr 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 loas or damage by fire, all to the satisfaction of the seoond party. 7. Fint puty will at all times propedy fectiliu, culdvate, care for, and mair?tain in a productiv~e condition all the grove and orchard trees now on raid property or hereafter planted thereon, and will protect the groves md orchuds ag~inst loss or damage by Cre by making and maintaining proper fuebreaks on and around said property, and by kaping undergrowth cut, to the satisfaction of seoond party. Fitat party will not top-work the grove ot orchard trees without first obtaining the written oonsent of seoond party. Second puty is hereby authoriud and ampowered to hav~e appraisals of said ~ property made by a Land Bank appraiser, or by others, at such times as second party, in its sok discretion, may desire. The cost ot such appraisals shall be paid by firat party immediately upon presentation of an itemiud stntement thereof and shall be secured by this instrument. 8. Tinx is of the essence of above recited note, this instrument and of any other instrument evidencing ~ o~debtedness secured hereby. If first party tails to comply with any covenant, condition or agreement in this instrument. or in said note, or in any reamortization, renewal, deferment, extension agreement oc other instrument evidencing any indebtedness secured I?eceby, second p~rty may, at its option, exercise any one or more of the foAowing rights, powers. pnvJeges and remedies: ~ (a) Perform any une or ~more of the oovenants of first party in this instrument, in above recited note. or in any } other instrunxnt evidencing any indebtedness secured hereby. and all surtu advanced by second party in doing so shall be due and payable by firstpa rty to xcond puty immediately without notice, and shall be secured by this instrument, and shall bear interest from the date of advance by second party at the highest rate provided in any note or uther instrument secured hereby. (b) Declare all amounts secured by this instrument immediately dut and payable without notice. (c) Proceed immediately to foreclose this mortgage. and pursue wch other remedies as may be authorized by law. 9. As furtt~er security for the payment of the note herein described and any other instrument evidencing indebtedneu secured hereby and for the performance of all the ternu, conditions. and covenants of said note. said othet instrunxnta and uf this mortgage, first party hereby transfen. auigns. and sets over to second party all ot the crops sawn or - - g~ig5 ~-Z707 , r $ ~ H,.::: : . . _ .7'`Y~~..~.'y'_c~. y.'~"~ '_t . - , .