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Home My WebLink About1864 ~i - - - ~ _ - _ - - - - - _ _ - _ - , , TO t1AVE AND TO t1ULl), the said pruperty, t~?g~ther with all ;~nd singular the'rights, men?bers, heteditamcnts, and ~ppurten~nres thereunto belonging or in any H•isc ap~xrtaining, untu second p:~rty, its succeswrs and assigns. in fee simple 1~?re~~cr; and tirst ~~a?~y i?e<<hy n~~~~s hinuelf (itself?, I~is ~its) hcirs, executurs. administrators, successors and assigns. to warr~nt and furever defend saiJ property untu second party, its su.:cessurs and assigus, froin anJ ag:~inst first party, the heirs, exccuturs, administr:~turs, successors and assigns of lirst party and ~II other persons whomsuever lawfulty claiming or to claim thc samc or ;~n}• p;~rt thcrcof. PROVIDED ALWAYS, NEVERTIIELESS, and it is ihe true intent and mc~ning ul the parties to these presents, that if lirst party sh~ll pay, or rause tu be paid, unto se~und party. its successors or assigns ti?e total indebtedness secured hereby, whether evidenced by note tirst :~buve described, future adranre notes, or utherwise, with interest thereon as aforesaid, and sh;~ll perfurm all ternu, conditions. anJ covenanis acrurding to thc true intent af said nute, any other instrument hereinafter referred to, and this n~ortgage and any other instrun~ent securinF note first above described or other instrument evidencing indebtedness of first pazty to second party, and comply witl~ all the provisions of the Farm Credit Act of 1971 and all amendments thereto, and with the regulations issued and that may be issued by the Farm Credit Administration, all of which are hereby made a part hereof, then this mortgage shall cease, determine, and be utterly nuli and v~oid; otherwise it shall . remain in full focce and efPect. ~ FOR Tt1E CONSIDEItATION AFORESAID, first 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 encun2brances or liens ~~hatsoever on said property except this nwrtg~ge. This nx~rtg:~g~ shall also secure any future advances made by second party, at its option, to fust party, or one or n?ore or all of them. as may be made during the time authorized by law for such advance, PROVIDED THAT THE f MAYIl~tUAi A[~10UNT SECURED HEREBY SHALL NOT AT ANY ONE TIME EXCEED THE PRINCIPAL SU141 OF S 750, 000. 00 , plus interest thercod, and any disbursements made for the payment of taxes, levies or insurance on the ~ property covered by the lien of this mortgage, with interest on such disbursen~ents.. In the event of such advance. the amount thereof shall be added to the murtgage debt. ~ 3. lt 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 tlie agreement by second party to any reamortizations, exter:sions, defernzents or other rearrangements as contemplated herein shall not be construed as payment of any i indebtedness I~ereby secured, (whether or not, among other changes in terms. the interest rate or rates remain the same ~ and/or time for payment is thereby extended or lessened), and sliall not discharge the Gen of this mortgage which is to remain in fuli force and effect until the total indebtedness secured hereby has been paid in full. Ali notes or other instruments _ cuntemplated herein sl~all remain uncancelled and in possession o~ second party,its successors and assigns, until the total ` indebtedness i~ereby secured is paid in full. ~ 4. First party will insure and keep insured as may be required by secund party fcom time to time all groves and ~ ;,;~:;a;~; o~ ~~e~~ p~o~~ty 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 fire, hail, windstorm; and/or other casualty, in such form, such amounts, and in such company or ~ companies as s:~all be satisfactory to second party, the loss, if any, to be payable to second party as its interest may appear at , ~ the time of the loss. First party will deliver to second party the policy or policies of insurance with mortgagee clause attached ~ ; ti~ereto satisfactory to second party, and wili promptly pay when due all premiums for such insurance. If any grove or 5 ~ orchard shall be destroyed or damaged by fire, windstorm, hail, frost, freeze, and/or other casualty, the amount received in ; f settiement of the toss or damage may be applied at the option of second party on such part of the indebtedness secured by F ~ this instrument as second party may in its sole discretion determine. !f any building on said property so insured sha11 be , destroyed or damaged, the amount received in settlement of the loss or damage may be applied at the option of first party to " the reconstruction or repair of the buildings 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. E 5. First party will pay, when due and payable, all taxes, assessments and other charges that may be levied or I ~ 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, ~ - ~ groves, orchards, fences, fixtures, shrubbery and other improvements, of every kind and nature, now on said land and i - hereafter erected or placed thereon that may be destrayed or damaged by fire, windstorm or otherwise, and will not permit ~ the change, injury or removal thereof. will not commit or permit waste on said land, and will not, except with the writ?en i ~ 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 tor firewood and other ordinary farm 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 ~ will at all times protect the trees and timber against loss or damage by fire, all to the satisfaction 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 tt?ereon, and wilt protect the groves and orc ar s aga~nst loss or damage by fire by making and maintaining proper firebreaks on and around said propetty, and by keep~ng undergrowth cut. to the 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 cost 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 instrument evidencing indebtedness secured hereby_ If first party fails to comply with any covenant, condition or agreement in this instrument, or in said note, or in any reamortization, renewal, deferment. extension agreement or other instrument evidencing any ; indebtedness secured hereby, second party may, at its option, exercise any one or more of the following rights, powers, Y privileges and remedies: ; (a) Perform any one or more of the covenants of first party in this instrument, in above recited note, or in any ~ _ K' othes~strument evidencing any indebledness secured hereby, and all sums advanced by second party in doing so ~ sl~al] bj•c!ue and payable by first party to second party immediately without notice, and sha11 be secured by this ; ins'twi»ent, and shaU bear interest from the date of advance by second party at the highest rate provided in any note ( ~ or other instrument sccured hereby. ; (b) Declare all amounts secured by this instrument immediateiy due and payable v?ithout notice. ~ (c) Proceed immediately to foreclose this mortgage, and pursue such other remedies as may be authorized by law. ; ~ ;:_3 9. As further security for the payment of the note herein described and any other instrument evidencing ~ indebtedness secured hereby and for the performance of all the terms, conditions, and covenants of said note, said other ~ ~f'-; instruments and of this mortgage, first party hereby transfers, assigns, and sets over to second party aU of the crops sown or ~ c~ p~+e~ BOOK ~?t~~ PAGf 10Ur. ~ ~s~ ; ~ . ..~i. ''2 ~ . . . . . ~ _ ; ~i f- ~ r._- . . . c..~ ..~.Y. ~~i.,^~"-~v