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HomeMy WebLinkAbout2103 jl ~~I ' 'I ~ '.I ~ • . . ~ ' I TO HAVE AND TO NOLD. tt~e said property ~ togethcr with all and singular the rigl~ts. members. hereditaments, and ~1i appurtenances therounto belonging or in any wise appertainin , unto second party, its successors and assigns. in fee simple forever; and first party hereby binds hinuelf (itseln, his (its~ hcirs, executors. adniinistrators, successors aad assigns. to warrant and forever ~iefend said property unto secund party, its successors and assigns, irom and against first party, the heirs. ! executurs, administraturs, successors and assigns of first party and all other persons whamsoever lawfully claiming or to claim ;i the san~e or any part thereoi. I'~! PROVIDED ALWAYS, NEVERTHELESS, and it is the true intent and meaning of the parties to these presents, that ` if first parry shali pay, or cause to be paid, unto second party, its successors or assigns the total indebtedneu secured hereby. _ whether evidenced by note first above ckscribed, futuce advance notes, or otherwise. with interest thereon as aforesaid, and shall periorm all terms, conditions. and covenants ac~~rding to the true intent uf said no1e, any other instrument hereinaftor I referred to. and this nwrtgage and any other instrument securing note first above described or other instrument evidencing indebtednas of tirat puty to second partY. and comPly with all the pmyisions of the Fum Credit Act of 1971 and all ''j amendments thereto, and with the regulations issued and Ihat may be issued by the Farm Credit Administration, all of which are hereby made a part hereof, then this mortgage shall cease, determine, and be utterly null and v~oid; otherwise it shaU remain in full focce and effect. ;i FOR THE CONSIDERATION AFORESAID, first party covenanis as follows: 'i; 1. Fint party is lawfully seized of said property in fee simple and has a perfect right to convey rame; there are no encumbrances or liens whalscev~er on said property except this nwrlgage. - i~~ 2. This mortgage shaD also secure any future advances made by second party, at its optio ~ROViDED THAT THE more or all of them, as may be made during the time suthorized by law for such advance, MAXiMUI?f AMOUNT SECURED HEREBY SHALL NOT AT ANY ONE T1ME EXCEED THE PRINCIPAL SUM OF ' S 3,125,000.00 , plus interest thereon. and any disbursements made for the payment of taxes, {evies or insurance on the pcoperty cov~ered by the lien of this mortgage, with interest on such d'ubursements. In the event of wch advance, the amount thereof shall be added to the mortgage debt. 3. It is further understood and agreed by all puties hereto that the execution by first party and the acceptance by second party of any notes~ renewal notes or other mstruments, or the agreement by second puty to any reamorti2ations, extensions, deferments or other rearrangements as contemplated herein shall not be construed as payment of any indebtedness hereby secured, (whether or. not, among other changes in ter~, the interest rate or rates remain the same and/or time for payment is thereby extended or lessened), and shaq not discharge the lien of this mortgage which is to remain ~ in tull force and effect until the total indebtedness secuced hereby has been paid in full. All notes or other instruments contemplated herein shall remain uncancelled and in possession of second party,its successors and assigns, until the tota! indebtedness hereby secured is paid in full. ~ 4. First party will insure and keep insured as may be required by second party from time to time aU groves and ~____r.__ .?.e.e,... ~.,n.,~ d~maQe bv fire. windstorm, hail, frost, keeze, orcharas now on raid propcciy uc t~+ai ,~~sy j•~~:..•?•~. _=...•v=- ~-a--..-- - vvhich ma hereafter be erected thereon, and/or other cawalty, and all buildings now on said property, and all buildings Y against loss or damage by fire, hail, windstorm, and/or other casualty, in such form, such amounts, and in such comPan ~ at i,~ companies as shall be satisfactory to second puty, d~e loss, if any, to be payable to second party as its interest may appe 1he time of the toss. First party will deGver to seoond party the policy or policies of insurance with mortgagee clause attached thereto ratisfactory to second party, and will promptly pay when due all premiums for such insurance. If any grove or orchard shall be destroyed or damaged by fue, vrindstorm, hail, froat, freeze, and/or other casualty, the amount received in setdement of the loss or damage may be applied at the option of second party on ~ch part of the indebtedneu secured by ; this instrument as second pazty may in its sole discretion determine. lf any building on said property so inwred shall be j destroyed or damaged, the amount received in settlement of the loss or damage may be applied at the option of first party to E the reconstruction or repair of the buildings so destroyed or damaged, subject to the regulations issued or that may be issued ~ under the Farm Cre~it Act of 1971 or acts amendatory thereof or supplemental thereto; any portion of the proceeds not so ~ used shall be applied-on the debt hereby secured in such manner as second party, in its sole discretion, may determine. 5. First pany will pay, when due and payable, all taxes, assessrnents 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 wi ll keep in g o o d o r d e r a n d c o n d i t i o n, p r e s e r v e, a n d r e p a i r, r e b u il d and restore all terraces, buildings~ groves, orchards, fences, fixtures, shrubbery and 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 remoral thereof, wiq not mmmit 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 patty wiU also preser~e 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 lou or damage by fire, all to the satisfaction of the second party. 7. First party wiil at all times properly fertilize, cultivate, care for, and maintain in a productive condition all the grore and orchard trees now on said property or hereafter planted thereon, and will protect the grorres and orchards against loss or damage by fire by making and maintaining proper faebreaks on and~ around said properiy, and by keeping undergowth 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 ~arty, in its sole discretion, may desire. The oost of such appraisals shal! 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 insttument 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, defem~ent. extension agreement or other instrument evidencing any indebtedness secured hereby, second patty may, at its option, exercise any one or more of the foUowing rights, powers, ~ privileges and remedies: ~ (a) Pertorm any one or more of the oovenants of fitst party in this instrument, in above 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 payable by first 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 insttument seCUred hereby. ~ (b) Dedaze 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 further security Cor the payment of the note herein described and any other instrument evidencing ' indebtedneu 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 _ ~~0 ~~t~ ~ i ~ . !i ' ~,s. c~ ~.ev . - _ _ - - - .