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Home My WebLink About2447 ~ . q ; - - - - - - , ~ : . . ~ e TO HAVE AND TO NOLD. the said propcrty, togetl~er with all and singular tl~c rigl~ts. members, hereditaments, and ; appurtc~iances thereuntu belungi~~g ur in any wisc aFpcrta~ning. wito seca~d p~rtY. its successors and assigns, i~ fee simple ~ ; Corever, a~~d first pa~t~ hereby binds hinuelf (itselt~. his (its) heirs. executocs. administrators. suc~~eswrs and assigns, to ~ ! warr~nt and forever defend raiJ pruperty unto second parry. its succeswrs and assigns, from and againsl first party,lhe l~eirs. ' execnturs, adnunistraturs, wcceswrs and assigns uC first parry and ~11 other pe.rsons whumwerer lawfully clain~inf .?r to claim ~ i thr s~n~c or any pa~t thereot'. ~ ~ ~ PROVIDEU ALWAYS, NEVERTHEI.ESS, and it is the true intent and meaning of thc parties to these presents. that if first party shall pay, or cause tu be Ex+id. unto serond party, its successors or assigns the totat indebtedness secured hereby. ; :i whether e~~denced by note first abov~c described. future advance ~ates. or utherw3se, with interest thereon as aforesaid, and ; sha11 perform all ternu. conditions, and covenants accc~rding to the true intent of said note. any other instrument hereinafttr ~ referred to, and this nartgage and any other instrument ~ecuring note Grst abore described or other instrument evidencing # . indebtedness of first puty to second party, and oc~mply with ap the provisions of the Farm Credit Act of 1971 and all amendments thereto, and with the regulations iswed snd that may be iuucd by the Farm Credit Administ~ation, all of whic:h are hereb made a hereof. then this mortgaat shaU cexse, determine, and be utterly null and v~oid; otherwise it shall i remain in full force an~d eff'act. - ~ , FOR THE CONSIDERATION AFORESAID, first party cov~:nants as follows: ~ 1. First party is lawfully seized of said property in fPe simple and has a perfect right to convey rame; there are no 3 encumbrances or liens whatscever on said property e~ccept this mortgage. 2. This mortgage shaU also secure any future advances made by second party, at its option. to fust party, or one or nwre or all of them, u may be made during the time authorized by law for such adva~ce, PROVIDED THAT THE MAXIMUI?1 AMOUNT SECURED tiEREBY St1ALL NOT AT ANY ONE 'IIME EXCEED THE PRINCIPAL SUM OF S 35, 000. 00 , plus interest thereon, and any disbursements made Por the payment of taxes, levies or insurance on the property cov~ered by the Gen of this nwrtgage, with interest on such disbursen~ents. !n the event ot such advance, the amount thereof shall be added to the mortgage debt. - 3. It is further understood and agreed by ~ll parties heceto that the execution by ferst parry and the acceptance by second party of any notes, renev~al notes or other instruments, or the agreernent by semnd patty to any reamortizations, extensions, defernxnts or other rearrangemeuts as contemplated herein shall not be oonstrued as payment of any indebtedness hereby secured, (whether or not, among other changes in tenm, the interest rate or rates remain thc rame ; andJor time for P::ynxnt is thereby extended or lessened), and shall not discharge the Gen of this mortg,age which is to remain in full force and effect until the total indebtedness secured hereby has been paid in full. All notes or other instruments ; contemplated herein sl~all remain uncanceUed and in possession of second party, its successors and assigns, until the total _ indebtedness hereby secured is paid in full. ` 4. First parry will i::sure and keep insured as may be required by second party Crom time to time all groves and ; - or rds now on said property or that may hereafter be thereon ag,ainst loss or damage by Gre, windstorm, haii, frost, freeze, ; 'and~r other casualty, and ap buildings now on said property, and all buildings which may hereafter be erected thereon, 4 agau~l loss or damage by fire, hail, windstorm, and/or other casualty, in such form, such amounu, and in such rnmpany or compa~s as s}~all be satisfactory to second party. the loss, if any, to be payable to second party as its interest rnay appear at ~ the time Qf the luss. First party vinll deliver to second Qarty the poGcy or policies of insurance with mortg,agee clause attached r thereto sat~ factory to second party, and will promptly pay when due all premiums for such insurance. If any g~rov~e or ' orchard shall~be destroyed or damaged by fue, wihdstorm, hail, frost, freeze, and/or other casualty, ihe amount recerved in ; seitlement of he loss or damage may be applied at the option of second party on such part of the indebtedness secured by ~ this instrume9~ as seoond party may in its sole discretion determine. If any building on said property s~n inwred shall be destroyed or/rdamaged, the amount received in settlement of ihe losc or damage may be applied at th~ option of fust party to the reconstruction or sepair of the building~ so destroyed or damaged. subject to the reguladons iswed or that may be issued f under the Farm Credit Act ot 1971 or acts amendatory thereof or supplemental thereto; any portion of the procceds not so used shall be applied on the debt heret,y secured in such rrrnt~ner as seoond 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 ~id property, and ap judgments and all other amounts that may be or bernme a lien thereon. ~ 6. First party will keep in good order and condition, preserre, and repair, rebuild and restore all terraces. buildings, i groNes, orchards, fences, fixtures, shrubbery and other improvements, of every I:ind and nature, now on said land and hereafter erected ar placed thereon that may be destroyed or damaged by fue. windstorm c~: otherwise, and will not permit _ the change, injury or removal thereof. will not rnm.-nit or permit waste on said land, and will not, except with the written consent of second garty, cut, u.ce 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 Grewood and other ordinary farm purposes. First party wili also ( preserre and keep ir. good or3er and condition ap trees and timber now and hereafter growing upon the said property, and _ will at a!1 times protect the trees and timber against loss or damage by fire, all to the satafaction of the second party. 7. First party will at all times properly fertilize, cultivate. 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 ~=~d orchards agdinst toss or damage by fire by making and maintaining proper fuebreaks on and around said property, and by keeping E undergowth cut, to the satisfaction of second party and second parry 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 sole discretion, may desire. z The oost of such appraisals shall be paid by first party immediately upon presentation of an itemi2ed statement thereof and ~ shall be secured by this instrument. : 8. Time is ot the essence of abov~e recited note, this instrument and of any other instrument evidencing ; indebtedness secured hereby. If first party fails to comply with any covenant, rnndition or agreement in this instrument, or in F said note, or in any reamortization, renewal, deferment, extensian agreement or other instrument evidencing any ; indebtedness secured hereby, second party may, at its option, exercise any one or more ot the following rights, powers, ~ , privileges and remedies: ' s (a) Perfarm any one or ri.~re cf the covenants of first party in this instrument, in above recited note, or in any ~ other i~strument evidencir.g any indebtedness secured hereby, and all sums advanced b_v second party in doing so shall be due and payable by f:s; garty to second party immediately without notEce, and shall be secured by this ~ instrument, and shaU b:.::: :?te-P~t from the ~:c r..`:.~±:'asc° bY second party at the highest rate provided in any note ; or other instrument secured hereby. (b) Declare all amounts secuted by this instrument immediately due and payable withor: notice. ; (c) Proceed immediately to loreclose this mortg~ge, and pursue wch other remedies a~ may be authorized by law. ? 9. As further security for the paymeat of the note herein described and any other inst:ument evidencing indebtedness sewred hereby and for the performance of all the ierms, conditions, and covenants of said note, sa~d other # instruments and of this mortgage, firri party hereby transfers, assigns, and sets over to second party all of the crops sown or - ~a~x 231 2442 ~_y ~ } ~ f t .d-~4`!~'i2 . .w .r:. _ ~ _ . . . _ . _ ~ .'~Y ~ ~'f