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Home My WebLink About0636 i; ,i ~ - ~ - - - ~ ~ i ~ ~ , TO NAVE AND TO HOLD, the said property, together with all and singular the rigi~ts. members. hereditaments, and ~ appurtenances thereunto bclonging or in any wise appertainin , unto second party. its succeuors and assigns, in fee simple forever; and Grst party I~ereby binds iunuelf (itseln, his (its~ heirs. executors, administrators, sucassors and assigns, to ; warrant and torever defend raid property unto secund party. its successors and assigns~ from and against first party, the heirs, ~ executors, adnunistrators. successors and assigns of first party and all other persons whoinsoever lawrfully claiming or to claim the san~e or any part thereof. I PROVIDED ALWAYS, NEVERTHELESS, and it is the t~ue intent and n~eaning of the parties to these presents, that if first party shall pay, or cause to be paid, unto second party, its successors or assigns tl~e total indebtedness secured hereby, whether evidenced by note first above described, tuture advartce notes, or otherwise. with interest therecn as aforesaid, and shall perf~rm aU terms, conditions, and covenants according to the true intent of said note, any other instrument hereinafter referred to. and this mortgage and any other instrument securing note first abov~e deuribed or other instrument evidencing indebtedness of ficst party to second party, and comply with all the provisions of the Farm Credit AM of 1971 and all amendments thereto, and with the regulations issued and that may be issued by the Farm Credit Administration, all of which ' ue hereby made a part hereof, then this mortgage shall cease. determine, and be utterly null and v~oid; otherwise it shall II remain in futl force and eftect. ~I FOR THE CONSIDERATION AFORESAID, first party covenants as follows: I l. First party is lawfully seized of said praaerty in fee simple and has a perfect right to convey same; there are no encumbrances or Gens whatsoever on said property except this mortgag:,. t 2. This mortgage shatl also secure any future advanoes made by second party, at its option, to first party, or one or more or all o[ them, as may be mede during the time suthoriud by law for such advance, PROVIDED THAT THE i~ MAXIMIJN AMOUNT SECURED HEREBY SHALL NOT AT ANY ONE TIME EXCEED THE PRINCIPAL SUM OF S 1,000,000.00 , plus interest thereon, and any disbursements made for the payment ot taxes, levies or insurance on the ~i property cov~ered by the Gen oi'this nmrtgage, with interest on such disbursements. In the event of such advance, 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 ~i second party of any notes, renewal notes or other instruments, or the agreement by second party to any reamortizations, ~i extensions, determents or other rearrangements as contemplated herein shall 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 same ' and/or time for payment is thereby extended or lessened), and shall not discharge the lien of this mortgage vrrhich is to remain I in full force and effect until the total indebtedness secured hereby has been paid in full. All notes or other instruments contemplated herein shap remain uncancelled and in pc~ssession of second party,its successors and assigns, until the total i indebtedness hereby secured is paid in full. I 4. First party will insure and keep insured as may be required by second party from time to time aU grovat and orchards now on said property or that may hereafter be thereon against loss or damage by t'ue, windstorm, hail, frost, freeze, - , and/or other casualty, and all buildings now on said property, and all building,s which may hereafter be erected thereon, against loss or damage by fue, hail, windstorm, and/or other casualty, in wch form, such amounts, and in wch company or ~i companies as shaU be satisfactory to sernnd parry, the lou, if any, to be payable to second party as its interest may appear at ' the time of the loss. First party wiQ detirer to second party the policy or policies of insurance with mortgagee clause attached 4j thereto satisPactory to second party, and will promptly pay when due all premiums for such insurance. [f any grove or orchard shall be destroyed or damaged by fire, windstorm, ha~7, frost, freeze, and/or other casualty, the amount received in setdement 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 second Qarty may in its sole discretion determine. 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 fust party to the reconstruction or repair of the buildings so destroyed or damaged, subject to the regulations iuued or that may be issued i; 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 seoond party, in its sole discreGon, may determine. ' 5. First party will pay, ~vhen due and payable, all taxes, assessments and other charges that may be levied or I li auessed against said property, and all judgments and all other amounts that may be or become a lien thereon. ~i 6. First party will keep in good order and condition, preserve, and repair, rebuild and restore aU terraces, buildings, i~ groves, ~orchards, fences, fixtures, shrubbery and other improvements, of evsry 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 i~ the change, injury or removal thereof, will not commit or permit waste on said land, and witl not, except with the written ' consent of second party, cut, use or remove, or pemtit ihe 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 preservr 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 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 ~I grove and orchard trees now on said property or he~af~er planted thereon, and will protect the grav~es and orchards against ii loss or damage by fire by making and maintairung ~opec fuebreaks on and around said property, and by keeping ;j undergrowth cut, to the satisfaction of second party and second party is hereby authorized and empowered to hav~e appraisals ~ of said property made by a Land Bank appraiser, or by others, at such times as second parry, in its sole discretion, may desire. ~i The cost of such appraisals shall be paid by first party immediately upon presentation of an itemized statement thereof and ii shall be secured by this instrument. i; 8. Time is of the essence of above recited note, this instrument and of any other instrument evidencing i~ indebtedness secured hereby. If fust 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 ; j~ indebtedness secured hereby, second party may, at its option, exercise any one or more of the following rights, powers. ~I 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 other instrume~t evideneing any indebtedness secured hereby, and all suriu advanced by second party in doing so .I shall be due and payable by firstpa rty to second party immediately without notice, and shall be secured by this instrument, and shall bear interest from the date ot advance by second party at the highest rate provided in any note ~ ~i or other instrument secured hereby. (b) Declare all amounts secured by this instrument immediately due and payable without notice. ;i (c) Proceed immediately to toreclose this mortgage, and purwe such other remedies as may be authorized by law. 'I 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 instruments and of this mortgage, first party hereby transfers, assigns, and sets over to second party all of the crops sown or BOOi( 244 PACE ~e~ ~ l( ~ ~ . ~ ` ~ _ _ ~ - - _ _ _ . ~ ~ - _ _