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HomeMy WebLinkAbout0277 i i 1 { i ~ ;I . d li I I ~I i~ TO HAVE A,?VD TO HOLD, the said property, togethcr with all and singular the rights, membe~s, hereditao~ents, and appurtenances thereunto belonging or in any wise appertainin , untu second party~ its successors and assigns, in fee simple forever, and first party hereby binds hinuelf (itseln, lus (its~ heirs~ executors, adnunistrators, successors and auigns, to warrant and forever defend said property unto second party, its successors and assigns, from and against first party, the heirs. ~ executurs, adnunistraton. successors and assigns of fust party and all other persons whomsozver lawfully claiming or to claim tl~e sank or any patt thereof. : , . . . ' . . ~ I~i~VIpED 'ALI~AYS, N~VFRTHELESS, and it is the true intent and meaning of the parties to these presents, that it first ~iarty;sfiall pay; orraux,la.be paicl~; ~ to se~nd parly, its successors or assigns the total indebtedness secured hereby, # whether evic1enced by note firs~ abo~e ~iesc~~d, future advance notes, or otherwise, with interest thereon as aforesaid,and ~ " shall perforr.~ all terms, conditions, and cvvenants according to the true intent of raid note, any other instrument hereinaFter ~ i; rrferced to. and this mortgage and any other iostrwnent securing note tirst abov~c dtscribed or other insirument evidencing i; indebtedness of fust party to second party, and compty with all the }srovisions of the Fedtral Farm Lflan Act and all amendnknts thereto, and with the regulations issued and that may be issued by the Farm Ccedit Administration~ aU of wliich ~ i~ are hereby n~ade a part hereof, then this mortgage sha0 cease, determine, and be utterly null and v~oid; otherwise it shall remain in full force and effect. FOR THE CONSIDERATION AFORESA[D, ~rst party rnvenants as follows: . 1. First party is tawfully seized of said property in fee simple and has a perfect right to convey same; trere are no ' encumbrances or tiens whatscev~er_on said property except this mortgage. , 2. This mortgage shall also secure any Cuture advances made by second party, at its option~ to fust:~r ty, or ~ne or mare or all of them, as may be made during the time authoriud by law for such advance, PROVIDEp TklAT Ti~ . MAXIMUM AMOUNT SECURED I~REBY SHALL NOT AT ANY ONE TIME EXCEED THE PRINCI~AL~ SU1N OF . S 20tI,,Q~4~; 0~: , plas interest thereon, and any disbursements made for the payment of ta~ces, levies ar.insvcanoe on the ' property corered by the lien of this mortgage, with interest on such disbursements. In the event of such advance, the am~unt .thereof shall be added to the mortgage debt. _ 3. It is furthe~ understood and agreed by aU parties hereto that the execution by first party and the acolptance by - second party of any notes, renewal notes or othtr instruments, or the agreement by seoond party to any reamortizaGona, extensious~ deferments or other rearrangements as contemplated herein shall not be oonstrued aa payment of any indebtedness hereby secured, (whether or not. among other changes in terms, the interest rate or rata remain the sa?ne and/or time for payment is thereby extended or lessened), and shall not d~charge the lien of this mortgage which is to remain in full force and effect until the total indebtedness secured hereby has been paid in full. All note3 or other instruments contemplated herein sliall remain uncancelled and in possession of second party,its successors and assigns, unW ihe total indebtedness hereby secured is paid in full. 4. First party will 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 ag,ainat loss or damage by Fue, windstorm~ hail, frost, freeu, and/or other casualty, and all buildings now on said property, and all buildings which may hereafter be erected lhereon, ag,ainst l~s or damage by fue, hail. windstorm, andJor other casualty, in such form, such amounts, and in such oompany ar ' companies as shaU be satisCactory to seoond party, the loss, if any, to be payable to seoond party as its interat may appear at the time of the loss. First party will deliver to seoond party the policy or policies of inswance with mortgaga clause attached thereto satisfactory to second party, and wil! promptly pay when due all premiums for such inswance. If any grov~e or orchard shall be~ deatroyed or damaged by fae, windstorm, lu~~7, frost, freeze, and/or other casualty, the arraunt received ;n settlement of the loss or damage may be applied at the option of second party on wch put of tht indebtedness secured by ihis instrument as second party may in its sole discretion determine. If any building on said property so inwnd shall be destroyed or darnaged, 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 deatroyed or damaged, subject to the regulationa issued or that may be issued under the Fedenl Farm Loan Act or acts amendatory thereof or suppkmental thereto; and any portion of the proceeds not so used shall be applied on the debt hereby secured in such manner as second party, in its sole discretion, may.determine. j 5. First party will pay, when due and payable, all taxes~ aasesm~ents and other char~a that may be levied or f assessed against said property, and all judgments and all other arrwunts that may be or become a lien ihereon. i 6. First party will keep in good order and condition, presern, and repair, rebuild and restore all terraces. buildings, j grov~es, orchards, fences, fixtures, shrubbery and other improvements, of every kind and nature, now on said -~and_and ~ ~ hereafter erected or placed thereon that may be destroyed or damaged by fue, windstorm or otherwise, and wili" not permit the change, injury or removal thereof, will not commit or permit waste on raid land, and will not. except with the written ~ consent of second party, cut, use or remove, or pemut the cutting, use or removal of, any timber or trees on raid land for sawmill, turpentine or other uses or purposes, except for Grewood and other ordinary farm purposa. Firat party will aLco ~ preserre and keep i~ 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 lou or damage by fire, all to the satisfaction of the seoond puty. 7. Firn 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 thereon, and will protect the groves and orchards against loss or damage by fire by making and maintaining ptoper fuebreaks on and azound said property, and by kecping undergrowth cut, to th~ satisfaction of second party. First party will not top-work the grove or orchard treea without fust ~ obtaining the writtem m~sent of seoond party. Second party is hereby authorized 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 discretion, may desire. The cost of such appraisals shall be paid by fust party immediately upon presentation of an itemized statement thereof and shall ~ be secured by this instrument. 8. ~me 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 4 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) Per~orm any one or more of the oovenants of fust party in this instrument, in abore recited noie, or in any ~ other instrument evidencing any indebtedness 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 advance by second party at the highest rate provided in any note or other instrument secured hereby. ~ (b) Declare all amounts secured by this insttument immediately due and payable without notice. ~ (c) Proceed imm~diately 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 instrwnents and of this mortgage, first party hereby transfecs, assigns, and sets over to second ~rty aU of the ccops sown or ~ 'i 0 R . ~ ~ ~ ;j ' ~ ; - 't ~:m> ~ rv~ 7--~ ~ ~ :i -~..s•... ~ ~.~-~..x:~~~`. . ~ ; '