The URL can be used to link to this page

Home My WebLink About1625 i - - - - - _ _ _ _ - - _ _ _ _ - - ~ r----- I ;1 ' . , ' ' +i . . I I ' s TO tIAVE AND TO NOLD, the said property, together with all and singular the rights, members, hereditaments, and ~ i appurtcnances thereunto belonging or i~ any wise appertainm , unto second pa~ty. its successors and assigns, in fee simple ; ~j forever; and first party hereby binds lunuelf (itseln, ius (its~ hcirs, executors, ~dministrators, successors and assigns. to 4 ij warrant and forever detend said properry unto second party, its succeswrs and assigns, fiom and against first party, the heirs. executors, adnunistrators, successors and assigns of first parry and all other persons whomsoever lawfully claiming or to claim ~ II tl~e san~e or any part thereof. ; PROVlDED ALWAYS~ NEVERTHELESS, and it is the true intent and meaning of the parties to these prese~ts, that E I~ if first party shall pay, or cause to be paid, unto second party, its successors or assigns the total i~debtedness secured hereby, i whether evidenced by note first above described, future adrance notes, or otherwise, with interest thereon as aforesaid, and i ;j shall perform all temu. conditions, a~d covenants according to the true intent of said note, any other instrument hereinafter ~ referred to, and this nwrtgage and any other instrument securing note first above described or other instrument evidencing i: indebtedness of ~rst party to second•party, and comply with all the provisions of the Federal Farm Loan Act and alt { ii amendmcnts thereto, and wilh the regulations issued and that may be issued by the Farm Credit Administration, all of which t ~I are hereby made a part hereuf, then this mortgage shall cease, determine, and be utterly null and void;_othenvise it shall ~ remain in full force and effect. ~ ji _ ' i~ FOR THE CONSIDERATION AFORESAID, first 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 fust pazty, or one or n?ore or all of thsm, as may be made during the time authorized by law for such adrance, PROVIDED THAT THE MAXIMLII?1 AMOUNT SECURED HEREBY SHALL NOT AT ANY ONE '~IME EXCEED THE PRINCIPAL SUM OF ' S 75,000.00----, 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 parties 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 terms, 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 full force and effect until the total indebtedness secured hereby has been paid in full. All notes or other instruments . contemplated hereirr shall remain uncancelled and in possession of second party, its successors and assigns, until the total , indebtcdness hereby secured is paid in full. ; 4. First party will insure and keep insured as may be required by second party from time to time all groves and { ' orchards now on raid property or lhat may hereafter be thereon against loss or damage by fire, windstorm, hail, frost, freeze, ~ andJor other casualty, and all buildings now on said propzcty, and all buildings which may hereafter be erected thereon, against loss or damage by fire, 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 party as its interest may appear at the time of the loss. Eirst party will deGver to second party the policy or policies of insurance with mortgagee clause attached thereto satisCactory to second party, and will promptiy pay when due all premiums tor such insurance. If any grov~e or 4 orchard shall be destroyed or damaged by fue, windstorm, hail, frost, freeze, and/or other casualty, the amount received in ~ setUement of the loss or damage may be applied at the option of second party on such part of the indebtedness secured by t 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 Pust party to ~ the reconstruction or repair of the buildings so destroyed or damaged, subject to the regulations issued or that may be issued 1 under the Federal Faz~n Loan Act or acts amendatory thereof or supplemental thereto; and any portion of the proceeds n~t so used shall be apglied 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 ag,ainst said property, and all judgments and all other amounts that may be or beoome a lien thereon. 6. First 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 t'ue, windstorm or otherwise, and will not permit ; the change, injury or removal thereof, will not oommit or permit waste on said land, and will not, except with the written ~ consent of second puty, cut, use or remove, or permit the cutting, use or remoral of, any timber or trees on said land for t sawmill, turpentine or other uses or purposes, except for fuewood and other ordinary farm purposes. Eirst party will also ~ preserve and keep in good order and condition all trees and timber now and hereafter growing upon the said property, and will at all times protect the trees and timber against loss or darnage 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 ~ 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 firebreaks 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 times as second party, in its sole discretion, may desire. The ~ ~ eost of 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 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 oovenants of first parly in this instrument, in above recited note, or in any ~ other instrun~ent evidencing any indebtedness secured hereby, and all sums advanced by second party in doing so ~ sl~all 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 aU 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. ~ 9. As further security for the payment of the note 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 ? instruments and of this mortgage, first party hereby transier's, assigns, and sets over to second party all of the crops sown or ~ ~ , 600K ( PAGE~6~~ 1 ~ ; ~ 3~ . _ . _ . ; . : .:"i ..5+.. " ~ YJ~. : M-*' • ' 2C?}`~~3` .~.~}3:=~'• ¢..+x. ~ F~~ . { _ . ~y . z _ ~ ~