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Home My WebLink About2954 ; !I i, - - - - il - 'I ' , ~ . , ~ TO NAVE AIVD TO HOLD, the said property; together with all and singular the rights. members, hereditaments, and ! appurtenances thereunto belonging or in any wise appertaining, unto second party, its successora and suigns. in [ee simple forever; and tirst pa~ty hereby binds hinuelf (itseln, his (its) heirs, executo~s, adnunistrators, successors and atsigns, to • warcant and forever defend said propetty unto second party, its successors and assigns, from and against first parry, the heirs. ~ executors, adnrinistrators, successors and assigns of first pa~ty and all other perwns whomsoever lavrfully claiming or to claim j tl~e san~e or any part thereoF. I PROViDED ALWAYS, NEVERTHEL.ESS. and it is the true intent and meaning of the parties to these presents, that i if first party shall pay. or caute to be paid~ unto second party, its successors or assigns the total indebtedness secured hereby. i whether evidenced by note first above described, Cuture advance notes. or otherwise, with interest thereon as aforesaid, and I) shall perform aU terms, conditions. and covenants according to the true intent of raid note, any other instrument hereinafter referred to, and this mortg;age and any other instrument securing note first above described or other instrument evidencing indebtednas of first puty to second party, and oomply with al! the provisions of the Farm Credit Act of 1971 and all . ~ amendments thereto, and with the-reguladona issued and that may be issued by the Farm Credit Administration, all of which ue hereby made a part hereof, then this mortgage shall oease, determine, and be utterly null and vnid; otherwise it shall ~j remain in full force and effect. _ i~ FOR THE CONSIDERATION AFORESAID, first party covenants as follows: I~ 1. First parry is lawfully seized of said property in fee simple and has a perfect right to convey same; there are no encumbrances or Gens whatsoev~er on said property exapt this mortgage. li 2. This mortgage shall also secure any future advanoes made by second party, at its option, to fust party, or one or j; more or all of them, as may be made during the time authoriud by law for such advana, PROVIDED THAT THE MAXIMUM AMOUNT SECURED HEREBY SHALL NOT AT ANY ONE T1ME EXCEED THE PRiNCIPAL SUM OF S 400,OOQ. 00 , plus interest thereon, and any disbutsements made for the payment of taxea, levies or insurana on the property coMered by the lien of ihis mortgage, with interest on wch disbursements. tn the event of such advana, the amount li ~hereof shali be added to the mortgage debt. 3. lt is turther understood and agreed by all parties hereto that the execution by first party and the acceptana by second party of any notes, renewal notes or other instrwnents, or the agreement by seoond party to any reamorti7ations, extensiona, 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 terim, 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 mortgage which is to remain in full force and effect until the total indebtedness secured hereby has tieen .paid in full. All notes-or other instruments contemplated herein shall remain uncancelled and in possession of seoond party,its successora and auigns, unW the total indebtedness hereby secured is paid in full. ' 4. First party will insure and keep insured as may be required by second puty from time to time all groves and occhards now on raid property or that may hereafter be thereon against loss or damage by fue, windstorm, hail~ froat, freeae, and/or other casualty, and all buildings now on said property, and all buildings which may hereafter be erected thereon. j, ag,ainst lou or damage by fue, hail, windstorm, and/or other casualty, in such form, such amounts, and in such oompany or ~i companies as shall be satisfactory to second party, the loas, if any, to be payable to second party as its interast may appear at the time of the loss. First party will deliver to seoond puty the policy or poGcies of insurance with mortgagee clause attached thereto satisfactory to second party~ and will promptly pay when due all premiums for such insurance. If any grovoe or orchard shall be destroyed or damaged by fire, windstorm, haH, froat. freeze, and/or other casualty, the amount received in setdement of the loss or damage may be applied at the option of sceond party on such part of the indebtedness secured by this instrument as seoond party may in its aole discretion deteimine. If any building on said property so insured shall be destroyed or damaged, the amount received in setdement of the loss or damage may be applied at the option of fust party to the ceconstruction or repair of the buildin~t so destroyed or damaged, subject to the regulations issued or that may be issued ' under the Farm Credit Act of 1971 or acts amendatory thereof or supplemental thereto; any portion of the proceeds not so used shall be applied on the debt heret,y secured in such manner as second 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 leried or ` assessed against said property, and all judgments and all other amounts that may be or become a lien thereon. 6. First party will keep in good order and condition, preserve, and repair, rebuild and restore all terraces, buildings. € ,il groves, or c har d s, fences, fix tures, s t uu b b ery an d o t her improvemen t s. o f every k in d an d na twe, now on sai d lan d an d € hereafter erected or placed thereon that may be destroyed or damaged by fin, windstorm or otherwise, and will not permit t ~ the change. injury or remordl thereof, wiU not comrnit 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 fuewood and other ordinary farm purposes. Fint party will also ~ ~ preserve 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 loss or damage by fire, all to the satisfaction of the second party. ~ ~ i 7. First party will at all times properly fertiliu, cultivate, care for, and maintain in a productive condition all the ~ ; govc and orchard trees now on raid property or hereafter planted thereon, and will protect the groves and orchards ag,ainst loss or damage by fire by making and maintaining proper fuebreaks on and around said property, and by keeping ~ undergrowth cut, to the satisfaction of second party and second party is hereby authoriud and empowered to hare appraisals ~ of said property made by a land Bank appraiser, or by others, at such times as second party, in its sole diacretion, may desire. ~ The cost of such appraisats shall be Qaid by first party immediately upon presentation of an itemized statement thereof and ~ ` shall be secured by this instrument. 8. Time is of the easence 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, condition or agreement in this insUument, or in - said note, or in any reamortization, renewal, deferment, extension agreement or other instrument evidencing any r indebtedness secured hereby, second party 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 oovenants of fust Qarty in this instrument, in above recited note, or in any ~ ; other instrument evidencing any indebtedness secured hereby, and all sums advanced by sernnd party in doing so ~ ~ ;i shall be due and payable by fint 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. ~ (b) Declare all amounts secured by this instrument immediately due and payable without notice. i ~ (c) Proceed immediately to foreclose this mortg,age, and pursue such other remedies as may be authorized by law. i ~ i ~ 9. As further securiry for 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 ot this mortgage, firri party hereby transfers, auigns, and sets over to second party all of the crops sown or ~ ~ ~L~ ~ ~ aooK235 ~ ~ ~ ~ ~ r~ ~ - - _ _ e - - : . _