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Home My WebLink About2841 _ - - - - - - _ - i' • , . i~ . ,_.i f ~a' . . ' ~I ~ ;i j' TO HAVE AND TO HOLD, the said property, together with all and singular the rights, nkmbers~ heredi~aments, and ~j appurtenances thereunto belonging or in any wise appcrtainin , unto srcond party. its successors and assigns, in fee simple ~I forever; and first party hereby binds hir self (itsel~, his (its~ heirs, executors. adnunistrato~s, successors and assigns, ta ! warrant and forever dePend said property unto second party. its successon and assigns, from and against fust party, tl~e heics. I executors, administrato~s, succeuors and assigns of first party and all other penons whonuoever tawfuliy claiming or to ciaim !i du sanx or any part thereof. . I~ PROVIDED ALWAYS, NEVERTHELESS. and it is the true intent and meaning of the parties to these presents, that if first party? shall p¢y~ ar c~~se to be paid, unto second party, its successors or assigus the total indebtedness secured hereby, i~ whether evidenced by note fust abov~e described, future advance notes, or othcrwise, with interest thereon as atoresaid, and , shall perform all terms, conditions, and covenants according to the true intent ol' said note. any other instrument hereina[ter referred to, and this mortgage and any other instrwnent securing note first abov~e described or other instrument evidencing indebtedness of fust party to ucond party, and compty with all the prorisions of the Federal Farm Loan Act and all amendments thereto, and with the regulntions iswed and that may be issued by the Farm Ccedit Administration, all of which are hereby m~de s part hereof, then this mortgage shall cease, determi~e~ and be utterly null and void; otherwise it shall t! remain in full force and effect, ; FOR THE CONSIDERATION APORESAID, first party covenants as follows: 1. F~rst pa~cty is lawfully seized of said prope~Yy in fee simple and has a pertect right to convey same; there are no ~ encumbrances ur Gens whatsoev~er on said property except this mortgage. 2. This mortgage shall als~ secure any future advances made by second puty, at its option, to fust party, or one or ' nw~e or all of them, as may be made during the time authorized by law for such advance, PROVIDED THAT THE MAXIMUM AMOUNT SECURED HEREBY SHALL NOT AT ANY ONE TIME EXCEED TNE PRINCIPAL SUM OF S 927 ~Qpp~Qp , plus interest thereon, and any disbursemenis made f~r the payment of taxes, levies or insu~ance on the property covered by the lien of this mortgage. with interest on such disbur~ments. In the event of such advance, the amount thereof shall be added to the mortgage debt. 3. It is further understood and agreec~ by all pazties hereto that the execution by first patty and the acrentance by second party of any notes, renewal notes or othor instruments, or the agreement by second party to any reamortizations, ± extensions, deferments or other rearrangements as contemplated herein shaU not- be construed as payment of any indebtedness hereby secured, (whether or not, among other changes in terr?~c, the interest rate or rates remain the same and/or time for payment is thereby extended or Iessened), and shall not di'scharge ihe lien of this mortgage v?~hich s to remain in full force and effect until the iotal indebtedness secured hereby has been paid in full. All notes or other instruments contemplated herein shall remain unc~acelled and in possession of second party, its successocs and assigns, until the total indebtedness hereby secured is paid in fuU. 4. First party will insure .and keep insured as may be required by second parry from time to time all groves a~d ~ orchards now on said property or that may hereafter be thereon 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 hereafter be erected thereon, ~ j against loss or damage by fue, hail, windstorm, and/or other casualty, in such form, such amounts, and in such company or compa~~ies as shatt be satisCactory to second pariy, the loss, if ar~y, 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 poGcy o: policies of insurance with mortgagee clause attached thereto satisfactory to second pazty, and witi promptiy pay when due all premiums for such insurance. If any grove or ' orchard shall be destroyed or damaged by fue, windstorm* liail, frost, freeze, and/or other casualty, the amount received in settlement of the loss or damage may be applied at the option of sccond party on such part of the indebtedness secured by this instrument as secord party may in its sole discretion determine. If any building on said property so insured shall be destroyed or damaged, the amount rexived in settlement of the lou or damage may be applied at the option of first party to the reconstruction or repair of the buildings so destroyed ar damaged. subject to ihe regulations issued or that may be issued under the Federal Farir. 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 seo~nd party, in its sole discretion, may determine. 5. First party will pay, when due and payoble, all taxes, assessments and other charges that may be levied ~r assessed against said properry, and al! judgments and all other amounts that rray be or become a lien thereon. - b. First party will keep in good order ar~d condition, preserve, and repair, rebuild and restore all terraces, buildings, grov~es, 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 fue, windstorm or otherwise, and will noi permit the change, injury or removal thereof, will noi commit or permit waste on said land, and will nat, 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 ~ sawmill, turpentine or other uses or purposes, except for firewood and other ordinary farm purposes. First party will atso preserre a~d keep in good order and condition atl trees and timber no~v and hereafter growing upon the said property, and witl at all times protect ihe trees and timber againsi 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 conditian all the grove and orchard trees now on said property or hereafter planted thereon, and will ~rotect the grornes and orchards against ' loss oi damage by fire by making and maintaining proper firebreaks on an@ around saed property, and by keeping undergrowth cut, to the satisfaction of second party. First party v~ill 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 rnade oy a;.a~:d Bank appraiser, or by others, at wch times as second party, in its sole discretion, may desire. The „ cost of such appraisals shal! be paid by first party immediately upon preser~tation of an itemized stateir.~nt thereof and sl~ail be secured by this instrument. 8. Time is of the essence of above recited note, this instrument and of any other instrument evidencing indebtedness secured hereby_ If first party fails to comply with any covenant, con~'ition or agreement :n this instrument, or en , said note, or in any reamortization, renewal, deierment, extension agreen~ent or ~tl~er instrument evidencing any indebtedness secured hereby, second party may, at its option, exercise any one or more of the following rights, powers, privileges and remedies: (a) Perform aoy ~ne or more of the covenants of 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 pariy in doing so ~ shall be due and payabte by first party to second party immediately without notice, and shal! be secured by this + instrument. and shail bear interest from the date of advance ~y 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 r~otice. (c) Proceed immediately to foreclose this mortgage, and pursue such other remedies as may be authorized by law. ~ 9. As further security for the payment af the note herein described and any other instrument evidencing indebtedness secured hereby and for the pertormance of all the terms, conditions, and covenants of said note, said other instruments and of this mortgage, first party hereby transfers, assigns, and sets over to second party all of the crops sown or ; sacx PACE ! ~ ~y ~ ~ - _ . ` .~ix~' r & z " ~ ~ F r" ~ _ o~.. " t .'~_i'~ ".-T ~ . ~ ~ . r