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Home My WebLink About2165 I ' ~ - 1 ;I - ' ~ II . i . ~ ~I I TO HAVE AND TO NOLD, the said propcrry, together with all and singulsr the rigl~ts, nxmbers, hereditamcnts, and appurtenances thereunto bclonging ur in any wise apperta~n~ng, unto second party, its successors and assigns, in fee simple forever; and first parly hereby bi~ds himself (ituln, his (its) heirs, executors. adnunistratots, succeuors and assigns, to executurs,~adn inist aturs~, succesi ~ sPand assign of Pis t party and all o~tl~er persons who nsoevealawfully claimang or to cla m~ the same or any part thereof. ij PROVIDED ALWAYS, NEVERTNEI.ESS, and it is the true intent and n~eaning of the parties to these presents, that if first party shall pay, or cause to be paid, unto second parry, its successors or assigns the total indebtedness secured heceby, iI whether evidenced by note fust above described, future advance notes, or otherwise, with intetest thereon as aforesaid, and shall perCorm aQ terms, conditions. and covenants according to the true intent ot raid note, any other instrument hereinafter reCerred to. and this nwrtg,age and any other instrwnent securin~ ~ote first above described or other instrument evidencing !I indebtedness of first puty to second party, and comply with ap the provisions of the Farm Credit Act of 1971 and all ~I amendments thereto, and with the regulations issued and that may be issued by the Farm Credit Administradon, all of which ~ are hereby mide a put hcreof, then this mortg,age shall ceau, determine, and be utterly nuU and v~nid; otherwise it shall I~ remain in full force and effect. FOR THE CONSIDERATION AFORESAID, first party covenants as follows: 1~ Ii 1• First party is lawfully seized of said property in fee simple and has a perfect right to convey rame; there are no {I encumbrances or liens whatscev~er on said property except this mortgage. ;i 2. This mortgage shall also secure any future advances made by second party, at its option, to fust party, or one or more or ali of them, as may be made during the time authoriud by law for such adrana, PROVIDED THAT THE MAXIMUM AMOUNT SECURED HEREBY SHA[.L NOT AT ANY ONE TIME EXCEED THE PRINCIPAL SUM OF I~ S 250, 000. 00 , plus interesi thereon, and any disbursements made for the payment of taxes, levies or insurance on the property oovered by the Gen of this mortgage, with interest on such disbursements. ln the event of such adwance, the amount thereot shaU be added to the mortgage debt. i'; 3. It is further understood and agreed by aU parties hereto that the execution by first party and the acceptance by i, second party of any notes, renewal notes or other instruments, or the agceement by second party to any reamorUzations, extensions, determents or other rearrangements as contemplated herein shall not be construed u payment of any ~i~~ indebtedneu hereby secured, (whether or not, among other changes in terr~u, the interest rate or rates remain the same andJor time for payment is thereby extended or lessened), and shall not discharge the lien of this mortgage which is to remain i': in full force and eftect until the total indebtedness secured hereby has been paid in full. All notes or other instruments contemplated herein sl~aU remain uncancelled and in possession of second party, its successors and auigns, until the total , indebtedneu hereby secured is paid in full. j; 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 said property or that may hereafter be thereon agalnst loss or damage by fae, windstorm, hail, frost, freeze, ' and/or other casualty, and all buildinga now on said property, 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 company or companies as shail 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. First party will deGver to seoond party the policy or policies of insurance with mortgagce clause attached thereto ratisfactory 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, andJor 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 in~ebtedneu ~ecuced by ra this instrument as seoond party may in its sole discretion determine. If any building on raid property so insured shall be destroyed or damaged, the amount received in setdement of the toss or damage may be applied at the option of fust party to I'~ the reconstruction or repair of the buildings so destroyed or darnaged, subject to the regulations issued or that may be issued ~ under the Farm Credit Act of 1971 or acts amendatory thereof or supplemental thereto; any portion of the proceeds not so used shall be applied on the debt heret,y secured in such manner as seaond 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 become a lien thereon. b~~ngs, 6. First party will keep in good order and condition, preserve, and repair, rebuild and restore all terraces, ~ groves, orchards, fences, fixtures, s hru b b ery an d o t h er i m p r o v e m e n t s, o f e v e ry k i n d a n d n a t u r e, n o w o n s a i d l a n d 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 remoral 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 firewood and other ordinary fazm purposes. First party will also preserve and keep in good order and condition all trees and timber now and hereafter grawing 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. Firri party will at all times properly ferWize, culUvate, 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 orchacds against loss or damage by fire by making and maintaining proper faebreaks on and around said property, and by keeping undergrowth cut, to the satisfaction of second party and 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 wle discretion, may desire. The cost 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 fust 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 fust party in this instrument, in above recited note, or in any 'i other instrument evidencing any indebtedness secured hereby, and all sums advanced by second party in doing so shall be due and payable by ficst 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. 9. As ~urther security for the payment of the note herein described and any other instrument evidencing ; indebtedness secured hereby and for the performance 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 F~=~ ~7 ~~E2163 i~ ~ _ - - ~ ~ ~ N ~ -3