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Home My WebLink About0197 i ~ - , _ - , - - ; • i , ~ ~ ' 1 ~ TO HAVE AND TO t10LD, the said propcrty, tagcther with all and singular the rights, membcrs, hereditaments, and appurtenances thereunto belonging ur in any.wis~. ap~xrtaining, unto second party, its successurs an~ assigns, in ~ee simple forever, and first party hereby binds tunjself (itself), his (its) heirs, executors. administrators, successors and assigns, to warrant and forever defend said property unto second party, its succcssors and assigns, from and against Grst party, the hcirs, executurs, administrators, successors and assigns uf first party and all other persons whomsoever lawfully claiming or to claim the same or any part thereof. PROVIDED ALWAYS, NEVERTHELESS, and it is the true intent and meaning of the partits to these presents, that if first party shall pay, or cause to be paid, unto second party, its successors or assigns the totat indebtedness secured hereby, ~ whcther evidenced by note first above described, future advan~~c notes. or otherwise, with interest thereo~ as aforesaid, and shdll perfotm all ternu, conditions, and covenants according to the true intent ot said note, any other instrument hereinafter referred to, and this mortgage and any other instrument securing note first above described or other instrument evidencing ! indebtedness of first party to second party, and compiy with all the provisions of the Federal Farm l.oan Act and al) amendmcnts thereto, and with the regulations issued and that n~ay be issued by the Farm Credil Administration, all of which ' are hercby made a part hereof, then this mortgage shall cease, deternune, and be utterly null and void; otherwise it shall ~ ~ ren~ain in full force and ei~fect. FOR TNE COIdSlDERATION AFORESAID, ~rst party covenants as follows: 1. First party is lawfully seized of said property in fee simple and has a perfect right to convey same; there are no encumbrances or tiens whatsoerer ort said propeity except this mortgage. ~ 2. This mortgage shall also secure any future advances made by second party, at its option, to fust party, or one or more or all of them, as may be made during the time authorized by law for such advance, PROVIDED.THAT THE ~1AXIMUI~f A.WOUNT SECURED HEREBY SNALL NOT AT ANY ONE TIME EXCEED THE PRINCIPAL SUM OF S 133,400.00 , plus inierest ihereon, and any disbursements made for the payment of taxes, levies or insurance on ihe ~ }>ruperty covered by the lien of this mortgage, with interest on such disbursements. ln the event of sucti advance, the amount thereof shall be added to the mortgage debt. ~ 3. It is further understooJ and agreed by all parties hereto that the execution ~by first party and the acceptance by ~ second party of any rtotes, renewal noies or other instruments, or the agreement by second party to any reamortizations, extensions, deferments or other rearrangemenis as contempiated herein shall not be construed as payment of any indebtedness tiereby secured, (whether or not, among other changes in ternu, the interest rate or rates remain the same and/Qr time fur payment is thereby extended or lessened), and shall not discharge the lien of this o~origage lvhich is to remain in ful! force and effect until !he total indebtedness secured hcreby has been paid in full. All notes or other instruments contemplated herein sl~a0 ren~ain uncancelled and in possession of second party,its successors and assigns, until the total indebtedness hereby secured is paid in futl. 4. First party will insure and keep insu~ed as may be required by second party from tin~e to time all groves and orcl~ards now on said property or that may hereafter be thereo~ against loss or damage by fire, windstorm, hail, frost, freeze, and/or other casualty, and all buildings now on said property, and all buildings which may hereatter be erected thereon, against loss or damage by fere, hail, windstorm, and/ur 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 policy or policies of insurance with morigagee clause attached thereto satis~actory to second party, and will promptly pay when due all premiums for such insurance. If any grove or orchard shall be destroyed or damaged by lire, windstorm, hail, frost, freeze, and/or other casualty, the amount received in settlement of ihe 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 i 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 or that may be issued under the Federal Farm Loan Act or acts amendatory thereof or supplemental thereto; a~d 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 taxes, assessments and other charges that may be levied or assessed against said property, and all judgments and all other amounis thai may be or become a Gen thereon. - 6. First party will keep in good order and condition, preserve, and repair, rebuild and restore al! terraces, buildings, groves, orchards, fences, fixtures, shrubbery and other improvements, of every kind and nature, now on said land and hereafter erected or placed thereon that may be destroyed or damaged by fire, windstvrm or otherwise, and will not permii tl~e change, injury or remova! thereof, will not conunit or permii 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 tand for sawmill, turpentine or other uses or purposes, except for Gre~ood and other ordinary farm purposes. First party will aiso preserve and keep in good order and condition alt trees and timber now and hereafter growing upon the said property, and } 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 will at all times properly fertilize, 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 gror+~es and orchuds against loss or damage by fire by maiting and maintaining proper firebreaks on and around said property, and by keeping undergrowtl~ cut, to the satisfaction of second party. First party will not tap-work the grove or orchard trees without first obtaining the written consent of second party. Second party is hereby authorized and empowered to have appraisals 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 o( such appraisals st~all be paid by first party immediately upon presentation of an itemized statement thereof and shall ~ be secured by this instrument. 8. Tin~e is of the essence of above recited note, this instrument and of any uther instrument evidencing - indebtedness secured hereby. If first parry 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 indebtedness secured liereby, second party may, at its option, exercise any one or more of the following rights, powers, - privilegcs and remedies: (a) Perfonn any one or more ~f the covenants of first party in this instrument, in above recited note, or in any other instrun~ent evidencing any indebtedness secured I~ereby, and all sums advanced by second party in doing so siiall be due and payable by first party to second party immediately without notice, and shall be secured by this instrun~ent, and siiall bear interest from tt~e date of advance by second party ai the highest rate provided in any note or othcr insirument secured hereby_ (b) Declare all amounts secured by this instrument immediately due and payable without notice. (c) Proceed immediately to (oreclose this mortgage, and pursue such other remedies as may be authorized by law. 9. As further security for the payn~ent of the nute herein described and any other instrument evidencing indebtedness secured hereby and for the performance of all the ternu, conditions, and covenants of said note, said other instrumcnts and of this mortgage, tirst party Lereby transfers, assigns, and sets over to second party alt of the crops sown or ~I ~~~U7 ~ 19'~ _ _ - -