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Home My WebLink About1154 - - - - - - - - ~ - - - - - - - - - - - • ~ ~ , ` .5.. l ,';~i rr TO HAVE AND TO tiOLD, the said prope:ty, togethet with all and singular the rights. nicmbers. herediuments, and ~ appurtc~tian~~es thereunto belonging or in any wise appertaining, unto second party. its successors and assig~?s. in fee simpk ; forever; and fust Rarty hereby bincls hinuelf (itsel~, liis (its) heirs, executurs. administrators, sucassors and assigns. to wana~u and forever deCend said pruperty unto second party, its successors and assigns, from snd against first puty, the heirs, ~ executurs, adaunistrators, successors and assigns of first party and all other persons whomsoevcr lawfully clain~ing or to claim i tl~e same or any part thereof. PROYIUED ALWAYS, NEVERTHELESS, and it is the true intent and meaning uf the parties to these presents, that if fust party shall pay, or cause to be paid, unto second party, its successors or assigns the total indebtedness secured hereby. whether evidenced by note fust above described, future advance notes, or otherwise, with interest thereon u aforesaid, and shall perform aq terriu, conditions, and covenants according to the true intent of raid note, any other instrument hereinafter referred to. and tliis mortgage and any other instrument securing note ~rst above described or other instnunent evidencing indebtedness of fust party to second party, and comply with ail the provisions of the Federal Farm Loan Act and al! amend~~ents thereto, and with the regulations issued and that may be issued by the Farm Credit Administration, all of wfiid~ are hereby made a part hereof, then this mortgage shall cease, determine, and be utterly null and v~oid; otherwise it sfiall ~ remain in fuU force and effect. 7 ' FOR Tt~ CONSiDERATION AFORESAID, first party covenants as follows: 1. First party is lawfully seized of said praperty in fee simple and has a perfect rigfit to convey same; there are no encumbrances or Gens whatsoever on raid property except this roorlgage. ~ This mortgage shaU alw secure any future advances made by second party, at its option, to fust pury. or one or more ~r all of them, as may be made during the time authoriud bj+ law fot such advance, PROVIDED THAT 7'HE ' !NAX1MUl?1 A,NOUNT SECURED HEREBY SHALL NOT AT ANY ONE TIME EXCEED THE PRINC~AL SUM OF ~i S 35~p~p~QQ , plus interest thereon, and any disbursements made for the payment of taxes, levies or insuranoe on the property covered by the Gen of tiiis mortgage, with interest on such disbursements. In the erent ot such advae~ce, th~ amoun~ chereof shall be added to the mortgage debt. 3. It is further undentood and agreed by aU parties hereto.that the execution by fust party and ~the acceptana by second party of any notes, renewal notes or olher instruments, or the agreement by seoond puty to any reamortiutions, extensions, deferments or othet rearrangements as contemplated herein shall not be oonstrued as payment of any indebtedness hereby secured, (whether or not, among other changes in 1er~m, the interest rate or ntes.rema'sn the same andJor time fer payment is thereby extended or lessened), and shall not discharge the lien of this mortgage which is to remain in fu(1 force and effect until the total indebtedness secured hereby has been paid in fuq. All notes or other inswmenu contemplated herein shall renrdin uncancelled and in passession of seoond party,its wocessors and ass+gns, untii ttx ~otal indebtedness hereby secured is paid in full. 4. First party will insure and keep insured as may be required by second parry from time to time all g~ovrs and ~ orchards now on said properly or that may hereafter be thereon ag,ainst loss or damage by fue, windstorm, hail, frost, freeze, - and/or other casuilty, and all buildings now on said property, and all buildings which may hereafter be erected thereon, i against loss oF damage by fue, 6ai1, windstorm, and/or other casualty, in such form, wch amounts, and in wdi o~mpany or L companies as shall be satisfactory to second party, the loss, if any, to be payable to seoond puty as its interest may appru at ~ the time of the loss. First party will deliver to second party the policy or policies of insurance with mortg,agce dause attached ~ thereto ratisfactory' to second party, and will promptly pay when due all premiums for such insurar?a. If aay grove or orchard shaq be destroyed or damaged by fire, windstorm, hail, frost, freeze, and/or other cawalty, the amount received in ; j settlement of the loss or damage may be applied at the option of second party on such part of the indebtedness secured by i i this instrument as seoond party may in its sole discretion determine. If any building on said property so inwred shall be ~ ; desvoyed or damaged, the amount received in settlement of the loss or damage may be applied at the option of fust puty to ; the reconstruction or repair of the buildings so destroyed or damaged, subject to the regulations issved or that maY be is~ ; under the Federal Facm Loan Act or acts amendatory thereof or supplemental thereto; and any portion of the prooeeds not so used shall be applied on the aebt hereby secured in such manner u second party, in iu sole discretion, rtny determine. 5. First party will pay, when due and payable, all taxes, assessments and other charges tluc may be kvied or i asses~ed ag,ainst said property, and all judgments and all other amounts that may be or become a lien ihereon. i 6_ Firri 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 ev~ery kind and nature, now on said and and - ~ hereafter erected or placed thereon that may be destroyed or damaged by fue, windstorm or otherwise, and will not permit ~ the change, injury or removal thereof, will not conunit or permit waste on said land, and wrill not, except with the written ~ rnnsent of sernnd party, cut, use or remove, or permit the cutting, use ar removal of, any timber or trees on said land for sawmill, turpentine or other uses or purposes, except for firewood and other ordinary farm purposes. Ficst party wi11 also , preservr and keep in good order and condition all trees and timber now and hereafter growing upon the said }xoperty, and wifl at all times protect the trees and timber against loss or damage by fire, all to the satisfaciion of the seoond puty. _ 7. Fust party will at all times properly fertilize, cultivate, care for, and maintain in a productive condition. a11 the _ grove and orchard trees now on said propeity or hereafter planted thereon, and will protect the groves and orchuds against ' loss or damage by fire by .making and maintaining pro{ser firebreaks on and around said property, and by keeping ~ undergrowth cut, to the satisfaction of second party. First party will not top-work the grovoe or orchard trees without fust obtaining ihe 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 sote discretion, may desire. The cost of su~ appraisals shall be paid by first party immediately upon preseniation of an itemized statement thereof and stull be secured by this instrument. 8. Time is of the essence of above recited note, this instrument and of any other instrument evidencing indebtedn:ss secured hereby. If first party fails to comply with any covenant, condition or agreement in this insvument, ur 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 fullowing ~ights, pow'ers, pri~~ileges and remedies: ~ ~ ~r ~ (a) Perform any one or more of the covenants of first party in this instrument, in above recited note, or jn any other instrun~ent evidencing any indebtedness secured hereby, and all sums advanced by second party in doing so _ - shal~ be due and Qayable by first party to second party immediately without notice, and shall be secuced by this ; instrument, and shaU bear interest from the date of advance by second party at the highest rate provided iri an~ note z ~ or other instrument secured hereby. • ~ (b) Declare all amounts secured by !his instrument immediately due and payable without notice. (c1 Proceed immediately to (oreclose this murigage, and pursue such oiher remedies as may be authorized by law. 9. As further security for the payment of the note herein described and any other instrument evidencing 3 indebtedness secured hereby and for the performance of all the ternu, conditions, and covenants ot raid note, said other - ~ mstrwnents and of this nwrtgage, first party hereby transfers, assigns, and sets over to second ~arty all of the aops so~~vn or _ ~ F 228 ~ii5i Y ~ _ - - ~ _ - ~ ' . . _ ~7 y ~;s