HomeMy WebLinkAbout0737 mortgage, transfer, set over, assign and pledge unto the mort-
gagee all citrus crops now and hereafter growinq on said
premises, hereby giving and granting unto the mortgagee a _
first and prior lien thereon, provided, however, that such lien
shall be and is hereby expressly made subject and subordinate _
to any crop mortgage securing a loan made by a recognized t
Production Credit Association covering any citrus crop which -
comes into existence by bloom prior to fdreclosure sale or ~
other acquisition of-the premises by the mortgagee under this ;
mortgage. Any such crop mortgage shall not, however; ~e a lien ~
prior to this mortgage on any citrus crop coming into being by ;
bloom subsequent to said foreclosure sale, or other acquisition ;
of the premises by the mortgagee. It is specifically under- ~
stood that the "Together with" clause shall also include but ;
not be limited to: }
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(a) All rents, royalties, bonuses and benefits under any ~
existing or future oil, gas or mineral or other lease, ~
including any judgment or award as a result of damages ~
to the premises resulting from operations under any ~
such lease. - ~
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(b) All pumps, pumping stations, motors, switch boxes =
and transformers, engines, machinery, tanks, reser-
voirs, pipes, flumes or other equipment used £or the
production or distribution of water on the premises -
or for the irrigation or drainage thereof. ~
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~ 15. Mortgagor further covenants and agrees for so long ~
as all, or any ~art of the.indebtedness secured hereby remains ~
unpaid to preserve, maintain and care for the citrus groves ~
upon the above described premises, such care anii maintenance ~
to include cultivating, spraying, dusting, pruning, fertilizing, ~
watering, draining, protection against damage by frost and '
fire, marketing of crops and replacing annually to a similar :
variety all diseased trees (including but not limited to YTD `
and Tristeza), all to be done in a husband-like manner and in f
'i accordance with approved methods of grove culture, and agrees
not to top-wark said groves without the written consent of
i mortgageea provided further that upon the failure of mor~gagor
; to fully comply with any or all provisions of the above cove-
4 nants, mortgagee, in addition to all its other rights and
~ remedies for breach of covenants in this mortgage contained,
~ an3 in addition to its right, hereby expressly given, to de-
~ clare a default upon the breach of any such covenant, may, at '
its option, take such action as it deems necessary to preserve, `
maintain and care for the premises, and said mortgagee is ~
hereby given full rights of ingress and egress to the premises `
~ for so long as all or any part of the indebtedness secured
~ hereby is unpaid, and any reasonable expense incurred by it
~ in so doing shall become part of the indebtedness secured `
hereby, an3 shall become immediately due and payable and ~
shall bear interest at the highest legal rate per annum; how- ~
~ ever, it is expressly understood and agreed that mortgagee is -
~ under no obligation to do'so, except at its own election, and
~ failure on the part of mortgagee to take any action hereunder
~ shall not constitute a w~iver of .further breaches of such
~ covenants; it is further covenanted and agreed by mortgagor
~ that it will not mine or cause, authorize or permit any
~ mining of phosphate, limerock, Iimestone, clay, sand, oil,
~ petroleum or any other minerals on the above described
„ premises without the prior written consent of mortgagee. ,
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FIRST PAGE OF ATTACHED SCHEDULE
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~ sG~K~4~' 737 ~ ~
NEILI ORIFFIN JEiFRIE3 i LLOYD '
~ CMAHTEREO ~J~ ~ ' , ~
P O BOl[ 1270. iORT VIERCE. iLORIDA 33s50 - TELEPMONE t305) 464-9200 ~
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