The URL can be used to link to this page

Home My WebLink About0874 ~ - - - - - - - - - , , - : ; ~ ~ _ _ i ~ ' TO t~AVE AND ?U HOLD, the s;?id property, together with all and singular the rigl~ts, members, hereditaments, and ; appurtenances thereunto belouging or in any w~ise appertaining, unto secund parry. its successurs and assigns. in tee simple ~ t~orever, and first party herehy binds hinuelf (itseli~, liis (its) F?eirs. e?cecuturs, adn?inistrators, succeswrs and assigns, to ~ warrant and furever defend svid pruperty unto second party, its succcssurs and assigns. From and against ~rst party. tlie heirs. ~ cx~cutors, administraturs, succ~ssors and :+ssigns uf first party and :~Il uther perwns whomscever law~fully claiming or to claim ~ lllt S:I11M Of 3lly part thereof. ! I PRUVIDED ALWAYS, NEVERTHELESS, and it is the true intent and nzeaning uP the parties to these presents, that + if tirst part~• shall pay, or cause to be paid, unto second party. its successors or assigns the total indebtedness secured hereb~•, I whether evidenced by note first abo~~e described, future :tdvance notes, or otherwise. with interest thereon as aforesaid, and I sh~ll perfonn all ternu, cunditions, and cuvenants arcurding to the true intent ot s:iid note. any other instrument here"ii~after ~ referred to, and tl~is morty,age and any other instrument securing note first above described or other instrument evidencing indebtedness of tirst party tu second party, and comply with ail the provisions of the Federal Farm Loan Act and all ! amendmcnts thereto, and with the regulations issued and that may~ be issued by the Farm Credit Administration, all of which ~ are hcrcby n~ade a part hereuf, then tliis mortgagc stiall cease, deternune, and be utterly null and void; utherwise it shall ~ remain in full furce and effect. ~ i FOR TNE CONSlDE{tATlON AFORESAID, 6rst party cuvenants as follows: ~ 1. First party is lawfully seized of said property in fee simple and has a perfect right to cun~ey same; there are no ` encumbrances or liens whatsoever on said property except this nwrtgage. ~ 2. This mortgage shall also secure any future advances made by second party, at its option, to fust party, or one or more or ali of them, as may be made during the time authoriaed by law for such advance, PROVIDED THAT THE MAXlMU]?1 AMOUNT SECURED HEREBY SHALL VOT AT ANY ONE TIME EXCEED THE PRINCIPAL SUIr1 OF ' S 20 ,000 . 00 , plus interest thereon, and any disbursements made for the payment of taxes, levies or insurance on the property covered by the lien of this mortgage, with interest on such disbursements. In the event of such advance, the amount thereof shall be added to the nwrtgage debt. 3. It is further understood and agreed by all parties hereto that the execution by first party and the acceptance by second party of any notes, renewal notes or other instrwnents, or the agreement by second party to any reamortizations, extensions, deferments or other rearrangements as contemplated lierein shall not be construed as payment of any indebtedness hereby secured, (whether or not, among other changes in ierms, the interest 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 fult force and effect until the total indebtedness secured hereby has been paid in full. A:? notes or other instrumenis conteneplated herein sl~all remain uncancelled and in possession of second party.its successors and assigns, until the total indebtedness hereby secured is paid in full. 4. First party will ~ns:ue and keep insured as may be required by second party from time to time all groves and orchsrds now on said properfy or that ma~~ hereafter be thereon agaiiist loss or damage by fire, windstorm, hail, frost, freeze, and/or other casualty, and all buildings now on said property. and all building,s which may hereafter be erected thereon, against loss or damage by Gre, hail, windstorm, and/or other casualty, in such form, such amounts, and in such company or + companies as sl~all be satisfactory to secund party, the loss, if any, to be payable to second party as its interest may appear at ( tf~e time of the loss. First party will deliver to second party the policy or policies of insurance with mortgagee clause attached thereto satisfactory to second party, and will promptly pay when due all premiums for such insurance. If any gruve or orchard shall be destroyed or damaged by Gre, 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. lf any building on said property so insured shall be ; destroyed or damaged, the amount received in settlemenf of the loss or damage may be applied at the option of fust party to i 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; and any portion of the proceeds not 3 so used shall be applied on the debt hereby secured in such manner as second party. in its sole discretion, may determine. r 5. First party will pay, when due and payable, all taxes, assessments and other charges tliat may be levied or ~ ; assessed against said property, and all judgments and all other amounts that may be or become a lien thereon. ~ 6. First party will keep in good order and condition, preserve, and repair, rebuild and restore all terraces, building~, ~ 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 hy fire, windstor?n or otherwise, and will not permit ; the 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 the cutting, use or removal ot, any timber or trees on said tand for ~ saw•mill, turpentine ur other uses or purposes, except for firewood and other ordinary farm purposes. First party will also ~ preserve and keep in good order and condition all trees and timber now and liereafter growing upon the said property, and ~ will at all times protect the trees and timber against loss or damage by ~re, all to the satis~action of the second party. ~ 7. First party will at all times properly fertilize, cultivate, care for, and maintain in a procluctive condition all the grove and orcharJ trees now on said property or hereafter planted thereon, and will protect the groves and orchards against ~ loss or damage by fire by making and maintaining proper firebreaks on and around said properry, and by keeping ~ undergrowth cut, to the satisfaction of second party. First party will not top-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 f3ank appraiser, or by others, at such times as second party, m its sole discretion, may desire. The i ~ cost o( such appraisals shall be paid by first party immediately upon presentation of an itemized statement thereot and shall ( tx secured by this instrument. l 8_ Time is of the essence of above recited note, this instrur~nt and of any other instrument evidencing I indebtedness secured hereby. !f first party fails to comply with any covenant, condition or agreement in this instrument, or in ' said nute, or in any reamortization, renewal, deferment, extension agreement or other instrument evidencing any ~ indebtedness secured hereb~•, second ~~arty may, at its option, exercise any one or more of the following rights, powers, ~ privile~es and remedies: ~ `s (a1 Per~orm any one or more o( the covenants of tirst party in this instrument, in above rerite note, or m any = other instrun~ent evidencing any indebtedness secured hereby, and all sums adv~nced by second party in doing so shall be due and payable b~ first party to secund 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 an~~ note f - ~~r uther instrwnent serured hereby. ( (b) [~c(are all amounts secured b}~ this instrument immediately due and payable without notice. ~ F (r1 Proceed immediately to foreclose this mortgage, and pursue such other remedies as may~ b: authorized by law. i As furthcr security for the payment of the nute herein described and any other instrument evidencing ; - ir.debted~iess sec~ued hereb~ and for the performance of all the ternu, conditions, and covenants of sa~d note, said other ~ ~ instruinents and of this mortgage, first party hereby transfers, ass~~, and sets over to secon~ party all of the crops sown or ~ SCCK~1~ PaGE O~ ` ~ 1 _ r - - - - - - - _ _ _ . _ - - - - _ - - ~ i ~ ~ _ - - ~ _ , ~ _ _ ,r _ . _ . ~ .d~.~-