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Home My WebLink About2532 ~ ~ • . . ~ ~ ' ' • : i TO NAVE AND TO ttULU, the said prupcrty. tugcth~r with all and singular the ribhts. mcmbers, tiereditaments, and appurtenances thereuntu belonging or in any wisc appertaining, unta secund ~~arty, its succeisors end assi~~s, in fee simpfe furrver, and tirst p;~rty lierchy binJs hi~~uclf (itsclf), his (its) hcirs, executurs, administrators~ SUCI'CSS(]~IS :II1lI assigns, to warrant and forever delend said pro{xrty unto second yarty, its successurs and assigns~ from and ag~inst first party, the heirs, cYCCUturs, administraturs, sucressc~rs and assigns uf first party and ail uthcr pcrsuns whomsuever ~;~wfplly claimin~ or to claim the same ur any part thereof. I; - I: PROVIDEU ALR'AYS, NEVERTHELESS, a~~d it is the true intcnt and mcaning of tl?e parties to these prescnts, ihat i if tirst party sl~all pay, or rause to be paid. unto second }~rty. its successors or assigns d~e total indebtedness secured hereby, ~ whether evidenced by note first above described, future :~dwrnre notes, or otherwise, with interest thereon as aforesaid, and + sl~all perform all tenns, conditions, and covenants acrurding to the true intent of said note, any other instrwnent hereii~after ~ refcrred to, and ihis n~ortgage and any other instrun~ent securing note ~rst atwve described or other instrament evide~~cing ~ indebtedness of first party to secund party. and comply with a!! the provisions of the Federal Farm Loan Act ~nd all ~ a~tiendnk+~ts theretu. and with the regulations issued and tl~at ntiy be issued by the Farm Crcdit Administratiun, all of H•hich ~ are hcreby made a"part hcreof, thcn this mortgage shall cease. detcrnur?e, ancl be utterly null and void; otherwise it shall j remain in full force and effect. ~ I FOK TNE CONSIDERATION AFORESAID, ficst party cuvenants as follows: j ~ I. First parry is lawfully seized of said property in fce simple ar~d has a perfect right ro convey same; Qiere are no I encumbrances or liens whatse~ever oe said property except this nwrtgage. ~ This mortgage shall also secure any future advances made by second party, at its option, to fitst party, or or~e or more or all of them, as nrdy be made during the time authorized by taw for such advance, PROVIDED THAT TNE ~ MAX1MUAf AbfOUNT SECURED HEREI3Y SHALL NOT AT ANY ONE TIME EXCE~D TNE PRMCIPAL SUM OF I S 244,p00.00---, Plus interest thcreon, and any disbursements made for the payment of taxes, levies or insurance on the ~ property covered by ~the lien of tlus 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 a11 parties hereto that tlie execution by first party and the acceptance by second party of any notes, renewal notes or oti~er instruments, or the agreement by second party to any reamortizations, .f extensions, defern~ents or other rearrangements as cuntemplated herein shall not be construed as payment of any indebtedness hereby secured, (whether or not, among other ci~anges in terms, the interest rate or rates remain the same and/or time for payment is thereby extended or lessened), and shall not discharge tlie lien of this mortgage Vvhich is to remain ~ in futl force and effect until the totai indebtedness secured hereby has been Faid in full. All notes or ot}~er instruments f cuntemplated herein sl?all remain uncancelled and in possession of second party,its successors and assigns, until the tota! ~ iiidebtc~dn~ss ltiereby sccured is paid in Cull. ~ 4, First party will insure and keep insured as may be required by second party from time to tmie al1 groves and j orcl~ards now on said property or that may hereafter be thereon against toss or damage by fire, windsturm, hail, frost, freeze, ~ and/or other casualty, and all buildings now on said property, and alI buitdings which may hereafter be erected ti~ereon, ~ against loss or damage by fire, hail, windstorm, and/or other casualty, in sueh 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 tl~e time of the loss. First party will deliver to second party the policy or policies of insurance with mortgagee clause attached ~ thereto satisPactory to second party, and will "promptly pay when due all premiums tor such insurance. !f any grove or orcnaru ~i~aii be urs:r:,3-e~ u8i:nb~v '~3 fs:~, :!':l:~Stnrm~ ha~t; fsnst, ireeze. and/or other casualty, the amount received in settlement of the loss or damage may be appl~ed at the option of second party on such part of the indebtedness secured by I 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 settiement of the toss or damage may be applied at the option of fust 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; and any portion of the proceeds not ~i so used shall be applied on the debt hereby secured in such manner as second party, in its sole discretio~, may deternune. f~ 5. Firsi party witl pay, when due and payable, all taxes, assessments and other charges that may be levied or I ' assessed against said property, and all judgments and all other amounts that may be or become a lien thereon. 6. Eirst 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 natnre, ~ow on said land and hereafter erected or pla~ed thereon that may be destroyed or damaged by fire, 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, excxpt 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 ~ i sawmill, turpentine or other uses or purposes, except for firewood and other ordinary farm purposes. First party will also { I preserve and keep in good order and condition a!1 trees and timber now and hereafter gowing upon the said property, and ~ ; will at all times protect the trees and timber against loss or damage by fire, all to the satisfaction of the second party. ~ s 7. First party will at all times properly fertilize, cultivate, care for, and maintain in a productive conditiort all the ~ grove and orchard trees now on said property or hereafter planted ihereon, and wi11 protect the groves and orchards against ( 3 ioss or da~~cage by ~re by ~akir.g and n~sntainis!g preprr firebreaks on and around said properly, and by keeping } ; undergrowth cut, to the satisfaction of second party. First party will not top-work d~e grove or orchard trees without first + ; obtaining the written consent of second party. Second party is iiereby authorized and empowered to have appraisals of said ` property made by a Land Bank appraiser, ur by others, at such limes as second party, in its sole discretion, may desire. The ~ cost oi~ such appraisals siiall be paid by first party immediately upon presentation of an itemiaed 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 i?ereby. If first party fails to conzply with any~ covenant, condition or agreement in ttiis instrument, or in said note, or in any reamortization, renewal, deferment, extension agreenzent or other instrument evidencing any ; indebtedness secured hereby, second party may, at its option, exercise any one or more of the following rights, powers, privilegcs and remedies: (a) Perform any one or more of the covenants of tirst party in this instrumept, in abuve 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 payabie by first party to second party in~ri~ediately without notice, and shall be secured by this ~ instruil~enE, and shall bear interest from the date of advance by second party at the highest rate provided in an~- note ~ _ ur other instrument secured hereby. , k (b) Declare all amounts secured by this instr~ment immediately due and payabie without noiice. ~ ' (c) Proceed immediately to foreclose this mortgage, and pursue such other remedies as may be autl~orized by law_ j ~ ~ ~ 9. As further security `or the payment of the note herein described and any other instrument evidencing ~ ~ indebtedness secured hereby and ~ur the performance of all the terms, conditions, and covenants of said note, said other ~ ~ instruments and of t6is murtgage, first party hereby transfers, assigns, and sets over to second party all of the crups sown or ; € K BOOIi PACE~528 I s i ~ , -