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Home My WebLink About0563 i i ~ _ . . - - - - - - - - - . - - ~ i I ~ ' , i~ I TO HAVE AND TO HOLD, the said property, togcther with aU and singular the rights, members. hereditaments. and ; a urtenances thereunto belon in or in an wise appertaining, unto second party, its successors and assigns, in fee simplc PP 8 8 Y ' fore:~er; and first party hereby binds himself (itseln, his (its) hcirs, executors, administratars, successors and assigns, to ' warrant and forever defend said property unto second party, its successors and assigns, f'rom and against first party, the heirs, executors, adnunistrators, successors and assigns of first party and all other persons whomsoever tawfully claiming or to claim the sanx or any part thereof. ii ' PROVIDED ALWAYS, NEVERTHELESS, and it is the true intent and meaning of the parties to these presents, that ` if first party shall pay, or cause to be paid, unto second party, its successors or assigns die total indebtedness secured hereby, li whether evidenced by notc Cust above described, future advance notes, or otherwise, with interest thereon as afuresaid. and shall perform aq terms, condilions, and covenants according to the true intent of said note, any other instrument hereinafter ,I referred to, and tlus mortgage and any other instrument securing note fust above described or other instrument evidertcing indebtedness of first party to second party, and comply with all the provisions of the Federal Farm Loan Act and all amendments thereto, and with the regulations issued and that may be issued by the Farm Credit Administration, all of which are heieby made a part hereof, then this mortgage shall cease, determine, and be utteriy null and void; otherwise it shall i' remain in full [orce and effect. ! FOR THE CONSIDERATION AFORESAID, firsi party covenants as follows: ~ i - ~ 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 liens whatsoever on said property except this mortgage. 2. This mortgage shall also secure any future advances made by second party, at its option, to first 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 MAXIMUM AMOUNT SECURED I-~REBY SHALL NOT AT ANY ONE TIME EXCEED THE PRINCIPAL SUM OF - ~ 95 ,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 mortgage debt. - 3. It is further understood and agreed by all pazties hereto that the execution by first party and the acceptance by second party of any notes, renewal notes or other instruments, or the agreement by seoond party to any reamortizations, extensions, deferments or other rearrangements as contemplated herein shall not be construed as payment of any indebtedness hereby secured, (whether or not, among other changes in ter~, the interest rate or rates remain the same and/or time for payment is lhereby extended or lessened), and shall not discharge the lien of this mortgage ~i+hich is to remain in full force and effect until ~the total indebtedness secwed hereby has been paid in full. All notes or other instruments ; contemplated herein shall 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 insure and keep insured as may be required by second pazty from time 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, freeze, and/or other casualty, and all buildings now on raid property, and all buildings which may hereafter be erected thereon, against loss or damage by fue, hail, windstorm, and/or other casualty, in such form, such amounts, and in such oompany or companies as shall be satisfactory to second party, the loss, if any, to be payable to second pazty as its interest may appear at the time of ihe 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. lf any grove or ~ ~ orchard shall be destroyed or damaged by fue, 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 seoond party may in its sole discretion deterniine. If any building on said property so insured shall be ~ destroyed or damaged, the amount received in setdement of the loss or damage may be applied at the option of fust party to f 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 pordon 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 amounts that may be or bernme a lien thereon. ` ~ 6. Firrt party will keep in good order and condition, preserve, and repair, rebuild and restore all 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 fue, windstorm 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 of, any timber or trees on said land for ~ ~ sawmill, turpentine or other uses or purposes, except for fuewood and other ordinary farm purposes. First party will also preserve and keep in good order and condition all trees and timber now and hereafter grovring upon the said property, and ~ will at all times protect the trees and timber against loss or damage by fire, all to ihe satisfaction of the second party. ~ 7. Eirst party will at a1J times properly fertilize, cultivate, care for, and maintain in a productive condition all the ~ gove and orchard 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 fuebreaks on and around said property, 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 Bank appraiser, or by others, at such limes as second party, in its sole discretion, may desire. The ~ cost of such appraisals shall be paid by first party immediately upon presentation of an itemized statement thereof and shal! ~ be secured by this instrument. ~ ~ 8. Time is of the essence of abov~e recited note, this instrument and of any other instrument evidencing indebtedness secured hereby. If first party 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 hereby, second party may, at its option, exercise any one or more of the following rights, powers, ~ privileges and remedies: (a) Perform any one 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 party in doing so shall be due and payable by first party to second party 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 other instrument secured hereby. (b) Declare all amounts secured by this instrument immediately due and payable without notice. ~ (c) Proceed immediately to foreclose this mortgage, and pursue such other remedies as may be authorized by law. ~ ~ y' 9. As further security for the payment of the note herein deuribed and any other instrument evidencing indebtedness secured hereby and for the performance of all the ternu, conditions, and covenants of said note, said other instruments and of this mortgage, first party hereby transfers, assigns, and sets over to aeoond party all of ihe crops sown or ~y ~ooK2~5 ~ 56i y~ _ . . s: - - - -