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Home My WebLink About1275 ~ ~ ~ I f ~ TO HAVC ANI) TU HOLU, ~he s:sid prupcrty, tugether with all and singular the rights, n~embers, hereditaments, and ~ ~ J4~E~UIlC11:l/litS the[e?+ntu helunging .,r in am• N~x ~pEkrt:~ining, untu second party, its sucressurs and assigns, in tee simple ~ . f~xevcr; and tirst party her~hy binds hinu~lf ~itseifl, his (its) heirs~ executots, aJministrators, successors and assigns, to , ~~~rrant and fur~v~r det~nd ~id pruperty untu secund party, its surcessur~ a~id ~ssigns, from and ag:~inst first part~~, the heirs, ' ~xecutun, a~iministrators, suc~ess~~rs and assigns uf first part~~ and ~Il utl~er persuns whonuoever lawtully ctaiming or to rlaim ( the san?c ur any part th~r~uf. PROVII)EU ALN'AYS, NEVERTHELESS.:~nd it is th~ true intent and meaning uf the parties to these presents, that ~ if lir~t part~~ shall pay, ur ~au~e to ;~e paid, unto secund }?:+rty, its successors or assigns the tutal indebtedness secured hereby, ~ whether evidenced by nute tirst ab~?ve ~lescribed, futurz adrance nutes, ur utherwise, with interest thereon as afuresaid, and ~ shall perform aU terms, cunditions, and ~uvensnts arrurding to the true intent of said note, any uther instrument hereinafter ~ relcr~ed to, and this nwrtgag~ and any uther instrument s~curing note first above described or other instrwnent evidencing ; ~nJebtedne~s uf first party tu s~:cund party. and cumpl}• with all the provisions of the Federal Farm Loan Act and all ~ ~men~in~rnts theretu, :~nJ w•ith the regulatiui?s issued 3nd th;~t i~ia~• be issued by the Farm Credit Administration. all ut H~hich ; ~ ~re hcrcb~ u~ade a part hereu(, then this mortgage shall ccase. deternune. anJ be uttetly null and void; atherwise it shall ; r~main in fuU force and effect. i ~ FOR THE CONSIDEfiATION AFORESAID, fitsl part~~ covenants as faibws: , 1. First rt ~ is lawfull se.ized of said ro rt in Cee sim le and has a rfect ri t to conve same; there are no ~ Pa S Y P Pe P ~ 8h Y ! ~ncumbr;~nces ur liens v?•hatsuever on said property except this mortgage. This martgage shall also secure an~~ future advances made by secund party, at its option, to fust party, ur une or mure or all of them, as n~ay be made during the time authorized by law for such advance, PROVIDED THAT THE :11AXI~tt1~t A!110UNT SECURED HEREBY SNALL NOT AT ANY ONE TIME EXCEED THE PRINCIPAL SUM OF ' 5 97,100. 00 , plus interest thereon, and any disbursements made for the payment uf taxes, tevies or insurance on the ~ E~n~~xrty covered by the lien of this mortgage, with interest on such disbursements. In the event of such advance, the amount + thereuf shall be added to tlie nwrtgage debt. F It is further understoud and agreed by atl parties hereto that the execution by first party and the acceptani-e by i se~ond party of any notes, renewal notes or other instruments, or the agreement by second party to any reamortizations, ~ extensions, deferments or other rearrangen~ents as cuntemplated herein shall not be construed as payment of any _ ~ndebtedness hereby secured, (whether or not, among other changes in terrtu, the interest rate or rates remain the same l and/ur time tor pa}~nxnt is thereby extended or lessened), and shall not discharge the lien of this mortgage Vvhich is to remain ~n full force and effect until the total indebtedness secured hereby has been paid in full. All notes or otl~er instruments { ~untemplated herein sl~all remain uncanceUed and in pussession ot second party.its successors and assigns, until the total ~ indebtedness iiereby secured is paid in full. 4. First part~~ will insure and keep insured as may be required by second party from tin~e to time all groves and orchards now on said property or that may hereafter be thereon against loss or damage by fire, windstorm, hail, frost, (reeae. - and/or other casualty, and all buildings now on said property, and all buildings which may hereafter be erected thereon, ; ; 3gainst loss or damage by fire, hail, windstorm. andJor other casualty, in such form, such amounts, and in such company or ~ : companies as shall be satisfactory to second party. the loss, if any, to be payable to second party as its interest may appear at ~ the time of the loss. First party will deliver to second party the poiicy or policies of insurance with mortgagee clause attache~! ~ ~ tt~ereto satisfactory to second party, and will promptly pay when due all premiums for such insurance. If any grove or ~ r ; orchard shall be destroyed or damaged by fire, windstorm, hail, frost, freeze, and/or other casualty, the amount received in ~ settlement 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 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 applied at the option of first party to ( the reconstruction or repair of the buildings so destroyed or damaged, subject to the regulations issued ~r that may be issued _ ` under ttie Federal Farm Loan Act 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. 5_ First party will pay, when due and payable, all taues, assessments and other charges that may be levied or ; assessed against said property. and all judgments and all other amounts that may be or become a Gen thereon. k 6. First party will keep in goad order and condition, preserve, and repair, rebuild and restore all terraces, buildings, f groves, orchards, fences, t'ixtures, shrubbery and other improvements, of every kind and nature, now on said land and f hereafter erected or piaced thereon that may be destroyed or damaged by ~re, windstorm or otherwise, and will not permit I the change, injury or removal thereof, wiU 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 the cutting, use or removal of, any timber or trees on said land for _ ~ saw~mill, turpentine or other uses or purposes, except for Grewood and other ordinary farm purposes. First party witl also ; ~t reserve and kec m ood order and condition all trees and timber now and hereafter owin u n the said ro rt and P P 8 P~ B P~ P Pe Y> will at al! times protect the trees and timber against loss or damage by fire, all to the satisfaction of the second party. ~ ~ 7. First party wili at all times properly fertilize, cultivate, care for, and maintain in a productive condition all the ~ gruve and orchard trees now on said property or hereafter pianted thereon, and will protect the groves and orchards against loss or damage by fire by making and maintaining proper firebreaks on and around said property, and by keeping ~ under~rawth cut, to the satisfaction of second party. First party wili not top-work d~e grove or orchard trees without first obtainin the written consent of second art Second rt ~s hereb authorized and em owered to have a raisals of said _ 8 P Y• Pa Y~ Y P PP property made by a Land Kank appraiser, or by others, at such times as second party, in its sole discretion, may desire. The ' ~ou ot such appraisals shall be paid by first party immediately upon presentation of an itemized statement thereof and shall be secured by this instrument. , 8. Time is of the essence of above recited note, this instrument and of any ottier instrument evidencing ~ indcbtedness secured hereby. If first party fails to comply with any covenant, condition or agreement in this instrument, or in sai~ nutc, or ~n any reamortization, renewal, defetment, extension agreement or od~er instrument evidencing any indebtedness secured 1?ereby, second party may, at its option, exercise any one or more of ihe following rights, powers, - privileges and reniedics: _ (a) Perform an} one ot more o( the covenants ol first party ~ this instrument, in above recited note, or in any uther instrument evidencing any indebtedness secured hereby, • d all sums advanced by second party in doing so shall be due and payable by first party to second party imm~ iately without notice, and shall be secured by this instrument, and shall bear interest from thc date of advance sccond party at the highest rate provided in any note ~ e~r other instnuncnt secured hereby. (b? [~clare all amounts secured by this instrument immediately due and payable without notice. ~ - (cl Proceed immediately tu foredose this mortgage, and pursue such other remedies as may be authorized by 1aw. i - As further security for the payment of the note herein described and any other instrument ev~dencing ~ : ~ndebtedness secured I~ereby and tor the performance of all the terms, conditions, and covenants of said note, said other I ~ instrwnents and uf this rnortgage, first party hereby transfers, assigns, and sets over to second party all of the crops sown or ~ . - - - - _ _ - - - _ _ - - ~ : ~ ~a~~ 1~14 ~ ; . _ _ _ . ~ _