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Home My WebLink About0784 i - - - • - i ~ • ~ ` 7~1 ; ~ f i TO HAVE AND TO HULn, N~e saiJ propcrty, together with al) ;~nd siitgular tiic rigt~ts, i~mmbers, hereditaments, and i appurtenaares thereunto belo»gin~ ur in any w'IS~ 3p}xI~3111111g, unto second party, its success~rs and auigns, in fee si~»p!e ~ forever, and first party hereby binds hinuelf (itseln, his (its) heirs, executo~s, administrators, succeswrs and assigns, to ' N•arrant and forever defend said property unta second party. its successors and assigns, from and against first party. the. lieirs, i , rxccutors, administrators, succeswrs and assigr~s of first party and ;~1) other persuns whomsuever lawfully claiming or to claim ; the s;~nx or any part thcreof. ' ~ PROVIDED ALWAYS, NEVERTHELESS, and it is the t~ue intent and mesning vf the parties to lhese presents, that ~ if firsl party shal) pay, or cause to be E~aid, unto secund party. its succeswrs or assigns the total indebtedness secured hereby. ! whether evidenced by note first_ above described, future adranre notes, or otherwise, with interest thereon as aforesaid, and I shall perform all terms, conditiwu. and covenants according to the true intent of said note, any other instrument hereinafter a referred to. and tiiis mortgage and any other instrwneni securing eote first above desrribed or otl~er instrument evidencing ~ indebtedness of tirst party to secund party, and comply with all the provisians~ uf the Federal Farm Loan Act and all an~ndmcnts thereto, and with the rcgulatiuns issued and that n~ay be issucd by the Farm Credit Administration, all of w•hich ` are hereby nude a part hcreof, then this mortgage shatl ccase, determine, and be utterly null and void; otherwise it shall ~ rer~tain in full force and etfect. FOR TNE CONSIDERATION AFORESAID, firsl party covenants as follows: ~ - 1. First parry is lawfully seized o( said property in fee simple and has a pcrlect right to convey same; there are no i~ encumbr:~nces or liens whatsoever on said property except this mortgage. i This mortgage shall also secure any future advances made by second party, at its uption, to fust party, or one ar nn~re or ail of them, as rrray be made during the time authorized by law for such advance, PROVIDED THAT THE MAXI~iUI?f AMOUNT SECURED HEREBY SHALL NOT 4T ANY ONE TIME EXCEED THE PRINCIPAL SUi41 OF ! S 600,000 .00 , plus interest thereon, artd any disburscments made for the payment of taxes, levies or insurance on 1he ~ pruperty covered by the lien of this mortgage, with interest on such disbursements. [n the event of such advance, the amount ~ thereof sha11 be added to the rnortgage debt. i 3. !t is further understood and agreed by all parties hereto that tlie execution by first party and the acceptance by i second party oi' any notes, renewal notes or otl~er instrumenls, or the agreement by second party to any reamorti7ations, extensions, deferments or other rearrangen~ents as contemptated herein sliall not be construed as payment of any indebtedness hereby secured, (whether or noi, among other changes in terim, the interest rate or rates remain the same andfor tinie Cor 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. Atl notes or other instruments contemplated 6erein sl~atl remain uncancelled and in possession of second pariy,its successors and assigns, until the total I indebtedness hereby secured is paid in full. ~ 4. ~irst party will insure and keep insured as may be required by second party from time to time all groves and ~ orcliards now on said property or that may hereafter be thereon against lou or damage by fire, windstorm, hail, frost, freeze, ~ and/or other casualty, and alt buildings now on said property, and all buildings which may hereafter be erected thereon. against loss or damage by lire, hail, windstorm, and/or other casualty, in such 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 intecest may appear at ~ tlie time of the loss. First party will deliver to second party the poticy or policies of insurance with mortgagee clanse attached thereto satisfactory to second party, and wil! promptly pay when due all premiums for such insurance. If any gove or orchard shall be destroyed or datnaged by fire, 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 deternune. 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 first 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 Earm Loan Act or acts amendatory thereof or supplementat thereto; and any portion of the proceeds not so used shall be applied on the debt hereb3 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, orchards, fences, Fixtnres, shrubbery ar~d oiher 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 , 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 sawrnill, turpentine or other uses or purposes, except for Grewood and other ordinary farm purposes. First 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 damage by fire, all to the satisfaction of the second party. ' 7. First party will at ali times property tertilize, cultivate, pre for, and maintain in a productive condition al! the ~ grove 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 + ; undergrow!h 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 auihorized and empnwered to have appraisals of said ~ property made by a Land I3ank appraiser, or by others, at such times as second parly, in its sole discretion, may desire. The ~ cosi of such appraisals shall be paid by first party immediately upon presentation of an itemized statement thereof and shall be secured by this instrun~ent. 8. Tin~e is of the essence of above recited note, this instrumeni 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 I~ereby, second }rarty may, at its option, exercise any one or more of the following rights, powers, privileges and rernedies: (a) Perform any one or i~re of the covenants of first party in this instrument, in above recited note, or in any ' ~ other instrun~ent evidencing any indebtedness secured hereby, and a11 sums advanced by second party in doing so shail be due and payable by first party to second party immediately without notice, and sl~all 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) neclare aIt amounts secured by this instrument immediately due and payable w~ithout notice. { (r) Proceed immediately to foreclose this mortgage, and pursue wch other remedies as may be authorized by law. ~ 9. As further security for the payment of the oote herein described and any otf~er instrument evidencing ~ indebtedness secured hereb~ and (or the performance of all the ternu, cooditions, and covenants of said note. said other ~ instr~i~xnts and of this mortgage, tirst party l~ereby transfers, assigns, and sets over to second party all of the crops sown or - - ~1 ^~E ~ _ _ . . _ _ . : =