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Home My WebLink About1858 I _ _ _ _ - - _ _ ~ ~ - _ i . ~ ' I • ~ , ~ I TO HAVE AND TO IIULU. tl~e said propcrty, togcther with all and singular the rights, n~embcrs. hereditaments, snd ~ appurtcnrnces thercunto bclonging or in any wisc appcrtaining, unto second parry, its succcssurs and assigns, in tee simplc ~ furever, and first party hercby binds tunuclt (~tscit), ius ~its) i~cirs, exccuturs, adiuini~truiuis, ~ucce~rs asiS ~~~g~~s, ta warraiit and (orever defend raid property unto secund party, its surcessurs and assigns, from and against first patty, the heirs, I~ execut~rs. adn?inistraturs, succesx~rs and assigns o( first party and ;tll other persuns wi?o~nsuever lawfully claiming or to claim ~ ~hc san~c or any ~~rt thcrcof. , ~ PROVIDED ALWAYS, NEVERTHELESS, and it is the true inte~t and meaning of the parties to these presents, that ~ if tirst party sl~all pay, ur ~-ause to be ~wid, unti~ szrund µ~rty, its succeswrs or assigns the total indebtedness secured hereby, ~ wheti?e~ evidenced by note first above described, future advance notes, or otherwise, with interest there~n as aforesaid, and ~ shal! perfonn all ternu. conditiuns. and cuvenants accurding to the true intent oF said note, any other instrument tierei~eafizr ~ referred to, and tliis mortgage and any other insuument securing note first above described or other instrument evidencing ~ indebiedness of first party to second party, and cumply with all the provisions uf the Federal Farm Loan Act-and all ~ amendmcnts theretu, and with the regulations issued and that may be issued by the Narm Credit Administration, all uf which i ere hereby made a part hcreuf. then this mort~ge shall ceasc, detennine, anJ be utterly nuli and void; otherwise it shall remain in full force and elfect. HOR TNE CONSIDERATION AFORESAID, first party covenants as follows: i I I. First party is lawfulty seized of said property in fee simple and has a perfect riglit to convey same; there are no ~ encumbrances or liens whaisoever on said property except this nwrtgage. j 2. This mortgage shall aiso secure any future advances made by secund party, at its option, to tirst party, or one or ntore or all of them. as may be made during the time authorized by law for such advance. PROVIDED THAT THE MAXIh1U[~1 AMOUNT SECURED HEREBY SHALL NOT AT ANY ONE TIME EXCEED THE PRINCIPAL SUM OF ; S 675,000.00--~ p~us interest thereon, and any disbursements made for the payment of taxes, levies or insurance on the C pruperty covered by the lien of tius mortgage, with interest on such disbursements. In the event oC such advance, the amount thercuf sl~all be added to the mortgage debt. 3. It is further understood and agreed by aU parties hereto that tl~e execution by first party and the acceptance by second party of any notes, renewal notes or other instruments, or the agreement by second party to any reamortizations, extensions, deferments or other rearrangements as contemplated herein shall not be construed as payment of any indcbtedness liereby secured, (whether or not, among other cLanges in ternu, the interest rate or rates remain the same i and/or time for payment is thereby extended or lessened), and shall not discharge the lien of this mortgage Vvhich is to remain in full Corce and effect until tl~e total indebtedness secured hereby has been paid in full. All notes or other instrun~ents ~ contemplated herein sl~all ren~ain uncancelled and in possession of second party,its successors and assigns, until the tota! ~ indebtedness liereby secured is paid in full. 4. Pirst party will insure and keep insured as may be required by second party from time to time all groves and ~ orcl~ards no~v 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 aU buildings which may hereafter be erected thereon, against loss or damage by fre, hail, windstorm, and/or other casualty, in such form, such amounts, and in such company or ( companies as sliall be satisfactory to second party, the loss, if any, to be payable to second party as its interest may appear at tt~e time of the loss. First party wili deliver to second party the poticy 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 grove or orchard shall be destroyed or dan~aged by fire, windstorm, hail, frost, freeze, and/or other casualty, the amount received in ~ i 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. 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 fust party to j the reconstruction or repair of the building~ so destroyed or damaged, subject to the regulations issued o~ that may be issued ` ~ under the Federal Farm Loan Act or acts amendatoc~ thereof or supplemental thereto; and any portion of the proceeds not g 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 become a lien thereon. ~ 6. First party will keep in good order and condition, preserve, and repair, rebuild and restore all terraces, buildings, ~ groves, orcl~ards, 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 fire, windstorm or otherwise, and will not permit ~ tt~e 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 pernut the cutting, use or removal of, any timber or trees on said land for ~ sawmill, turpentine or other uses or purposes, except for Grewood and other ordinary farm purposes. First party will also ~ preserve and keep in good ordcr and condition all tress and timber now and hereafter growing upon the said property, and g will at all times protect the trees and timber against loss or damage by fire, all to the satisfaction of the second parry. ~ ~ 7. First party will at all times properly fertilize, cultivate, care for, and maintain in a productive condition all the ~ grove and orchard trees now on said property or hereafter planted thereon, and will protect the groves and orchards against ~ loss or dama e b fire b makin and maintainin ro r firebreaks on and around said ro rt and b kee in S Y Y g 8 P Pe P Pe Y, Y P 8 ~ 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 liereby authorized and empowered to have appraisals of said i property made by a Land Bank appraiser, or by others, at such times as second party, in its sole disc?etion, may desire. The cost ot suctra~raisals shall be paid by first party immediately upon presentation of an itemized statement thereof and shall ~ be secured by this instrunxnt_ 8. Time is of' the essence of above recited n~te, 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 Lereby, second party may, at its option, exereise any one or more of the folluwing rights, powers, ~ privileges and remedies: ~ (a) Perfonn any one or mure of the covenants of first party in this instrument, in above recited note, ot in any other instrwnent 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 uf advance by second party at the highest rate provi~ed in any note or othcr instru~i~ent secured hereby. (b) Declare all an~ounts secured by this instrwnent immediately due and payable without notice. (c) Proceed immediately to ~oreclose 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 ~ indebtrdness secured hereby and fot Ihe perfonnance 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 ~ ~ < - - - ~ ~ - - - ~ ~ - ~ _ ~