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Home My WebLink About1207 ii - - _ ;I t li ! • i ,'I ~ i ~ 'I~ TO HAVE AND TO HOLD, the said propcrty, together with aU and singular the riglUs. members, he~editaments, and , appurt~nances thercunto bclonging or in any wise appertaimng, unto second party, its successors and assigns. in fee simpk ~ ; forever; and ~rst party hereby binds hinuelf (itul~, his (its) hcirs, executurs. adniinistratoa, successors and assigns~ to ~ executursnadminist a orsn successpo spand assign of fi st party~and all o~tl~er personswho ~uoevealawfully claiming or o cla m~ i ~I ihc same or any part thcreof. ~ ii . PROVIOED ALWAYS. NEVERTHELESS, and it is the true intent and nxaning of the parties to these presents, that F if first party shall pay, or cause to be ~raid, unto sernnd party, its successors or assigns the total indebtedness xcured hereby, ~ whether evidenced by note fust above described, tuture advance notes, or otherwise, with interett thereon as aforesaid, and ~ shall perform all terms, conditions, and cov~enants according~to the true intent of raid note, any other instrument hereinafter { " referred to, and this mortgage and any other instrmnent securing note first abovr described or other instrument evidencing ~ ' indebtedness of first puty to second party, and comply with all _ the provisioc~s of the Farm Credit Act of 1971 and amendments thereto. and vinth the reguiatiais issu~i and that may be issued by the Facsn Crodit Administration, all of which are hereby made a part hereof~ then this mortgage shall oease, determine, and be utterty null and roid; otherwise it stull remait? in fuU force and effect. - i! FOR THE CONSIDERATION AFORESAID, first party covenants as follows: ~ li 1. First party is lawtully seized of said property in fee simple and has a perfect « ght to convey same; there are no encumbrances or liens whatsoever on said property except this mortgage. 2. This mortgage shall also secure any future advances made by second party, at its option, to fust puty, or one or more or all of them, as may be made during ths time authoriz~d by law for such adrance, PitOV1DED THAT THE ~ MAXIMUM AMOUNT SECURED HEREBY SHALL NOT AT ANY ONE TIME EXCEED THE PRINCIPAL SUM OF " S 504,000. 00 , pl~is interest thereon, and any disbursements made for the payment of taxes, levies or insurana on the ~;i roptitytbvered by lhe lien of this mortgage, with interest on such disbursements. In the ev~ent of such adrance, the amount thereof shall be added to the mortgage debt. 3. It is further understood and agreed by all parties hereto that the execution by first party and the acceptance by second party of any notes, renewal notes or other instruments, or ihe agreement by second party to any reamortizations, extensions, deferments oc other rearrangements as contemplated herein shall not be construed as {~ayment of any indebtedness hereby secured. (whether or not, among other changes in ter~ru. the interest rate or rates remain the same and/or time for payment is thereby extended or lessened), and shall not discharge the lien of this mortg~ge v?~hich 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 h~rein sliall remain uncanceUed and in possession of seoond party,its wccessors and auiSns, unW the total indebtedness hereby secured is paid in full~ 4. First party will insure and kcep insured as may be required by second puty from time to time all groves and orchards now on said property or that may hereatter be thereon against loss or damage by fire, windstorm, hail, froat, freeze, and/or other casuaity, 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, wch amounts, and in wch comPany or ~ oompanies as shall be satisfactory to sernnd party, the toss, if any, to be payable to seco~?d party u its interest may appear at k the time of the loss. Eirst party will deliver to second party the policy or policia of insurance with mort~,agee clause attached thereto satisfactory to second party, and will promptly pay when due all premiums !or such insurance- 1~ uiY 8rov~e or ~ ; orchard shall be destroyed or damaged by fue, windstorm, hail, froat, freeu, and/or other ~~e indebt dness secured by ; utdement of the loss or damage may be applied at the option of second party on such put ~ ; this inatrument as second party may in its sole discretion determine. If any building on sai~ propecty so insured sh~ll be ~ destroyed or damaged, the amount ceceived in settlement of the loss or damage may be applied at the opiion of first party to ~ ~ the reconstruction or repair of the buildingS so destroyed or damaged, wbject to the regulations f~ssued~ftt~hat ~ ~ under the Farm Credit Act of 1971 or acts amendatory thereof w supplemental thereto; any po P~ ; ~ used shall be applied on the debt heret,y secured in such manner as second~ partY, in iu wle discretion, may determine. 5. First party will pay, when due and payable, all ta~ces, assessrnents and other charges that may be kvied or as.sessed against raid property, and all judgments and all other amounts that may be or become a lien tl~reon. ; 6. First party will keep in good order and condition, preserve, and repair, rebuild and restore all tenaces, buitdings, i groves, orchards, fences, fixtures, siuubbery and other improvements, of every kind and nature, now on said land and ~ hereafter erected or placed thereon that may be destroyed or damaged by fae, windstorm or otherwise, and will not permit ; the change, injury or removal lhereof, will not oommit or permit wazte 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 ? sawnull, turpentine or other uses or purposes, except for fuewood and other ordinary fazm purposes. First party will also i preserve and keep in good order and condition all trees and timber now and hereafter growing upon the said property, and i will at all times protect the trees and timber against loss ot damage by fire, all to the satisfaction of the second party. ' 7. First party will at all tiines properly fertilize, cultivate, care for, and maintain in a productive condidon all the ; grove and orchard trees now on said property or hereafter planted thereon, and wiil protect the gov~es and orchuds against ~ loss or damage by fire by making ar?d maintaining proper firebreaks on and around said property, and by keeping ~ ~ undergowth cut, to the satisfaction of second party and second party u hereby authorized and empowered to have apprairals ~ of said property made by a Land Bank appraiser, or by others, at such times as second puty, in its sole discretion, may desire. ~ The cost of such appraisals shall be paid by first party immediately upon presentation of an itemized statement theceof and ~ : shall be secured by this instrurmnt.~ 8. Time is of the essence of above recited note, this instrument and of any other instrurnent evidencing ~ indebtedness secured hereby. If first party fails to comply with any rnvenant, oondition or agreement in this insuument, or in ~ said note, or in any reamortization, renewal, deferment. extension agreement or other instrument evidencing any indebtedness secuted hereby~ sewnd party may, at its option, exercise any one or more of the following rights, powers, ~'i - ~ privileges and remedier. ~ ~ (a) Perform any one or more ot the oov~enants of fust party in this ~nstrument, in above recited note, or in any ~ other instrument evidencu~g any indebtedness secured hereby, and all wms advanced by second party in doing so F 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 seoond party at the highest rate provided in any note ~ or other instrument secured hereby. ~ ~ (b) Declaze aU 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 for the payment of the note herein described and any other instrument evidencing ~ i indebtedness secured hereby and for the performance of all the ternu. rnnditions, and covenants of said note, said other 'i instruments and of this mortgage, first party hereby transfers, assigns, and xts over to second party aU of the crops sown or ~ ~0~23~5 P~i206 t.:4~ , 'i ~ _ ~ - . . _ r ~ . v, ~