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Home My WebLink About1192 i f ~ ! ~ i . ~ ~ I ( 3 ~ . . i i . i j ~ TO tiAVE AND TO NOLD, the said property. togcther with aU and singular lhe rigl~ts, nxmbers, hereditaments, and ~i appurtcnances thereunto bclunging ur in any wise appertaining, w~to second perty, its sua-eswrs and assigns, in fec simple IOfCV@f; and first ~rty hereby binds hinueif (ituln, his (its) heirs, exccutors, adn~inistrators, successors aied assigns, to ' N~arra~~t and forevcr defend said property unto second party, its wcccssurs and assigns, Crom and against first party, tlic i?eirs. executurs, administraturs, suc~~essurs and assigns o( first party and all oti~er per3ons whumsoever lawfully claiming or to ctaim the san~e ~~r any part thereof. i~ PROVIDEU ALWAYS. NEVERTHELESS, and it is the true intent and mcaning of the parties to these presents, that ~i if first party shall pay, or cause to be ~raid, unto second party; its successors or assigns the total indebtedness secured hereby. whether evidenced by note Cust above described, future advance nutes, or utherwise, with interest thereon as aforesaid. and ;i shall perform al) ternu, runditions. and cuvenants according to the true intent of said note, any other instrument hereinaftec referred to, and this mortgage and any other instrwnent securing note first above described or other instrument evidencing i+ indebtedness of first party to second party, and comply with atl the provisions of the Farm Crtdii Act of 1971 and all amendments thereto, and with the regulations issued and that may be issued by the Farm Credit Administration, aU of which are hereby made a part hereof, then this mortgage shall cease, determine, and be utterly null and wid; otherwise it shaU remain in full force and effect. . i; FOR THE CONSIDERATION AFORESAID, rrst 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 encumbrances or tiens wiiatsoerer on said property except this mortgage. 2. This mortgage shall also secure any futute advances made by second party, at its option, to fust party. or one or more or all of them, as may be made during the time authorized by _taw for such advance, PROVIDED THAT THE MAXIMUM AMOUNT SECURED NEREBY SHALL NOT AT ANY OI~E TIME EXCEED TNE PRINCtPAL SUM OF S 3, 500,000.00 , P~~ interest thereon, and any disbursements made for the paymeni oi iaxes, ieviw. ;~is~~~~ce c ' property covered by thc lien of this inortgage, with interest on wch disbursements. In the event of such advance, the amount thereof shall be added to the mortgage debt, 3. lt is further understood and agreed by alI parties hereto that the executian by first party and ihe acceptance by second party of any notes, renewai rtotes or oiher instrumenis, or the agreement by second party to any reamortizations, extensions, defernzents ur other rearrangements as contemplated herein shall not be vonstrued as payment of any :r.~ehLednesc herehy ~ecured, (whether or not, among oiher changes in terms, the interest rate or rates remain the same and/or time for payment is thereby extended or lessened), and shaU not discharge ihe lien of this mortgage wiuch is to remain in fu!! force and effect until the tota! indebtedness secured hereby has been paid in [ull. All notes or other instruments - contemplated herein s~all remain uncanceQed and in possession of seeond party,its successors and assigns, until the total indebtedness hereby secured is paid in Cull.. 4. First party wilt 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 ~re, hail, windstorm, and/or other casualty, in such form, such amounts, and in such comQany or companies as shall be satisfactory to sernnd party, the loss, if any, to be payable to second party as its interest may appear at the time ot tiie loss. First party will deliver to second party the policy or policies of insurance with mortgagee clause attached . thereto satisfactary to second party, and will promptly pay when due all premiums for such insurance. If any grove or orchard shall be destroyed or damaged by fire, windstorm, hail, frost, freeze, and/or other casualty, the amount received in seitlement of the loss or damage may be appGed at the option of second party on such pan of the indebtedness secured by this instrument as second pacty, may in its sole discretion determine. lf any building on said property so insured 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 desiroyed or damaged, subject to the regulations issued or that may be issued eu~der the Farm Credit Act of 1971 or acts amendatory thereof or supplemental thereto; any portion ot the proeeeds not so uscd shall be applied on the debt hereby secured in such tnanner as second party, in its sole discretion, may determine. 5. First party will pay, when due and payabie, all taxes, assessments and other charges that may be levied or assessed against said property, and al! 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, orchatds, fences, fixtures, shrubbery 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 fire, windstorm or othenvise, and wil! not permit the change, injury or remova! ihereot, wiU not 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 raid land for sawmili, turpentine or other uses or purposes, except for firewood and other ordinary farm purposes. First party wilt also preserve and keep in good order and condition alt trees and tirnber now and hereafter growing upon ihe said ptoperty, and -will at all times protect the trees and timber against loss or damage by fire, a4 to the satisfaction of the second party. 7. First party will at all times properly fertilize, culti~~ate, pre for, and maintain in a productive condition all the grove and orchard trees now pn said property or hereafter planted thereon. and will protect the groves and orchards against loss or damage by fire hy maiung an~ maintaining proper Fire'vre-aics un uii~ ae~ur,~ ss;3 p.opr.sty, and ~P~i^.!_^.a andergrowth 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 af such appraisals shall be paid by first party immediately upon presentation of an itemiaed 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, privileges and remedies: - (a) Perform any one or more ot the covenants of first party in this instrument, in above recited note, or in any ~ other instrument evidencing any indebiedness secured hereby, and all sums advanced by second party in doing so 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 advan~~e by second party at the highest rate provided in any note or other instrument secured hereby. (b) Declare 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 ' 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 ' OR ; i ~I ~ ~ ~~,T ~ ~ ~ ~ ~ , , ~ _ . ....__,v , ~ ~:a<:~`-~,~,r-•s