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HomeMy WebLinkAbout1802 execution of this docw~ent con$ented to the BorroM•er pledging to the Association all of the security subject to liens and/or secur= ity interest in favor of the Oriqinal Mortqaqee and the Original Mortgaqee does expressly aqree and consent that the lien and/or security interest of the Association on all those citrus crops now gro~inq or hereafter grown on the mortqaqed premises shall be a first and prior lien and/or security interest thereon, except - that it is agreed between all parties that the lien and/or security i s . ~ interest of the Association shall not attach to any crop of citrus ~ - ~ fruit which comes into existence subsequent to any foreclosure-sale { i : occurrinq as a result of the Original Mortgagee, its successors ox assigns, foreclosing any of its liens on the real property above described. It is further agreed that the term "coming into exis- tence" or "comes into existence" shall mean bloom in the case of crops from perennial plantings and orchards, and shall mean plant- ~ ing in the case of crops from annual or more frequent plantinqs. ; 4. The parties agree that as of the date of the execution of this Agreement the Borrower is indebted to the Original Mort- gagee in the present principal sum-of $ 1,97i,95o•00 and - I in addition thereto interest as the same accrues as provided by the various security instruments executed in favor of the Original Mortgagee. The parties further agree that the mortgages and other lien instruments shall stanu as security for the funds advanced from time to time by the Original Mortgagee to the Borrower for the payment of taxes and assessments, insurance, repairs, main-- tenance and good husbandry necessary to prevent the premises from suffering waste, impairment or deterioration and for other reason- able expenses and expenditures incurred by the Original Kortgagee ~ in the protection and preservation of its liens and/or security { interests as welZ as costs and expenses, including reasonab3e attorneys' fees, incurred in any legal action undertaken by the Oriqinal Mortgagee in the col?ection of the indebtedness owed the Original Mortgaqee or in the protection of its security. The par- - 3 - ~ ~31 1 fl v _ _ - - _ y x} µ ~ .