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Home My WebLink About2469 f - _ ~ _ ~ I • ' 1 ~ i :t ~i ~i TO tiAVE AND TO HOLD. tlie said propecty. together with all and singular the rigl~ts, membecs, hereditaments, and ~ ~i~ appurtenances thereunto belonging or in any wise appertainin , unto second parry, its successors and assig~~s, in fee simple I; forever, and first party hereby binds himself (itseln, his (its~ heirs, executors, administrators, sucassors and assigns, to !i executo snadnunist atorsn succes orspan~ d assign of fint party and aU other personswho nsoevealawf lly claimang or to claim ` !i th~ san~e or any part thereoi. ~ PROVIDED ALWAYS, NEVERTHELESS. and it is the true intent and_meaning of the parlies to these presents, that ~ 'i nto second rt , its successors or auigns the total indebtedness secured hereby, ii' first party shall pay, or cause to be pa~d, u pa Y 'iI whetl~er evidenced by note first abova described, future advance notes. or utherwise, with interest thereon as aforesaid, and I~ shall periorm all ternu. conditions, and covenants according to the true intent of said note, any other instrument hereinafter reCerred to, and this mortgage and any other instrument securing note first above described or other instrument evidencing indebtedness of first party to second party, and comply with aU the provisions of the Farm Credit Act of 1971 and all 1 amendments thereto, snd with the regulauons issued and that may be issued by the Farm Crcdit Administration, all of which are hereby made a part hereof, then this mortgage shall cease, determine, and be utterty nup and void; otherwise it shall ~I{ remain in ~'nU force and effect. (i FOR THE CONSIDERATION AFORESAID, fust party covenants as follows: 1. First party is lawfully seized of said property in fee simple and has a perfect right to convey same; there are no !i ~t~......~ I:~......i.e~enaarr nn esi~i n?nM?tV CXOLDI l~llS IIIOII£3RC. ~i cIN.Il111v1auwa v~ arv..a eu...w..w. r--t---~ i! 2. This mortgage shall also secure any Cuture advances made by second party, at its option, to tust party, or one or more or all of them, as may be made during the time authorized by law for such advance, PROVIDED THAT THE MAXIMUA! AMOUNT SECURED HEREBY SHALL NOT AT ANY ONE TIME EXCEED THE PRINCa'AL SUM OF S 240, OQO. 00 , plus interest thereon, and any disbursements made ior the payment of laxes. levies or insurana on the property covered by the lien oE this mortgage, with interest on wch disbursements. in the event of such advance, the amount thereof shall be added to the inortgage debt. 3. It is farther 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 instruments. or the agreement by sernnd party to any reamortiiations, extensions, deferments or other reanangements u contemplated herein shal! not be construed as payment of any indebtedness hereby secured, (whether or not, among other changes in terms, the interest rate or rates remain the rame and/or time for payment is thereby extended or lessened), and shall not discharge the lien of this mortg,age which is to remain ' in fuU force ~and effect until the total indebtedness secured hereby has been paid in full. All notes or other instruments I'' contemplated herein sl~all remain uncancelled and in possession of seoond parry:its successors and assigns, until the total 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 all groves and orchards now on said property or that may hereafter be thereon against loss or damage by fire, windstorm, hail, frost, freeze, and/or other casualty, and all buildings now on said property, and all buildings which may hereafter be erected thereon, . against loss or damage by fue, hail, windstorm, andJor other casualty, in such form, such amounts, and in such company or companies as shall be satisfactory to second party, the l~ss, if any, to be payable to second party as its interest may appear at the time of the loss. Firat party will deliver to secand party the policy or policies of inswance with mortgagee clause attached thereto satisfactory to second party, and will promptly pay when due all premiuma for such insurance. If any grov~e or orchard shall be destroyed or damaged by fue, windstorm, hail, frost, freeze, and/or 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 indebtedness secured by this instrument as seoond party may in its sole discretion deternune. If any building on raid property so inwred shall be ~ destroyed or damaged, the amount received in settlement of the loss or damage may be applied at the option of Cust party to the reconstruction or repair of~the buildings so destroyed or darnaged, subject to the regulations issued or that may be issued i ' rtion of the roceeds not so ~ under the Farm Credit Act of 19? 1 or acts amendatory thereof or supplemental thereto; any po p ~ used shall be applied on the debt heret,y secured in such manner as seoond party, in its sole discretion, may determine. 5. First party will pay; when due and payable, all taxes, asseuments 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~~ 6. First party will keep in good order and condition, presecve, and repair, rebuild and restore all terraces, gs, groves, orchards, fences, fixtures, shrubbery and other improvements, of every kind an d nature, now on rai d lan d a n d hereafter erected or placed thereon that may be destroyed or damaged by ~re, windstorm or otherwise, and will not permit the change, injury or removal thereof, will nat 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 farm purposes. First party will also preserv~e and keep in good order and condition all trees and timber now and hereafter grovving 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. F'ust party will at all times propedy fertilize, cultivate, care for, and maintain in a productire condition all the i} grove and orchard trees now on said property or hereafter planted thereon, and will protect the groves and orchazds ag~inst loss or damage by fire by making and maintainu~g proper Cuebreaks on and around said property, and by keeping undergowth cut, to tlie 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 sole discretion, may desire. The oost 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 inswment evidencing indebtedness secured hereby. If ~ust party fails to comply with any covenant, condition or agreement in this instrument, or in '':i said note, or in any rearrartization, renewal, deferment, extension ageement or other instrument evidencing any , indebtedness secured hereby, second pacty 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 other instrument evidencing any indebtedness secured hereby, and all sumt advanced by second party in doing so ii 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 instrument secured hereby. ',i, (b) Declare all amounts secured by. this instrument immediately due and payable without notice. (c) Proceed immediately to foreclose this mortg,age, and pursue such other remedies as may be authorized by law. i~ 9. As turther security fot the payment of the note hetein described and any other instrument evidencing indebtedness secured hereby and for the performance of all the terrru, conditions, and covenants ot said note, said other ~ ; instruments and of this mortgage, first party hereby tra0 f~ers auigns, and sets over to seoond party all of the crops sown or eoox ~c34 v~r-i Z469 , , , . - v~-w- - _ - . > ~ ~ ~-~k , - __~.v~~~~~- _ - e- °