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Home My WebLink About0944 , _ _ _ . - _ - - - _ - _ _ ~ , . , i . • , . , ~ . . ~ i~ ' . ~ ~ _ ~ ~ • , ,JA TO HAVE AND TO t1ULD, ti~e said property, together with ail a~d singular the rigl~ts, members. hereditaments. and 4 appurtenances tl~ereunto belonging or in a~y w~se appertaining, unto serond party, its wcceswrs and assigns. in fee simple ~ forever, and first patty hereby binds himself (itsetn. his (its) heirs, executurs, adniinistrators, successors and assigns, to ' warrant and forever defend said property unto secund party, its su~ccssors and asstgns, from and against ~irst party, the heirs, ' executors, administraturs, succesu~rs and assigns uf first parry and all other persuns whomsexver lawfully claiming or to ctaim ; ti~e san~e or any part thereof. ~ i PROVIDED ALWAYS, NEVERTHELESS, and it is the true intent and meaning of the parties to these presents. that it first party shall pay, or cause to be paid. unto second party, its successors or assigns the total indebtedness secured hereby. " whether evidenced by note first above described, future advance notes, or otherwise, with inierest thereon as ~fore:aid, and i; shall perform all ternu, conditians, and covenants according to the true intent of said note, any other inri~ume~t hereinafter reCerred to, and th;s mortgage and any otl~er instrument securing note first above described or other instrument evidencing i~ indebtedness of first party to second party, and compiy with all the provisions of the Farm Credit Act of l971 and al! t; amendments thereto, and with the regulations issued and that n~ay be issued by the Farm Credit Administtation, aU of which ' are hereby made a part hereof, then this mortgage shall aau, determine, and be utterly nuli and vuid; otherwise it shall i remain in full force and effect. ~ FOR THE GONSIDERATION 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 I i! encumbrances or liens whatscever on said proPerty except this mortgage. 2. This mortgage shall also secure any future advances made by second pacty, at its option, to Cust party, or one or more or alt of them, as may be made during the tiroe authorited by law for such advance. PROVIDED THAT 'fHE I': MAXIMUI~1 AHOUNT SECUR~D HEREBY SHALL NOT AT ANY ONE TIMF EXCEED THE PRINClPAL SUM OF ! i S 112, 000. 00 , plus interest thereon. and any disburscments made !or the payment of taxes, levies or insurana on the + i, property covered by the lien of this mortgage. with interest on such disbursements. In the event of such advana. the amount ~ thereof stialt be added to the mortgage debt. ( : 3. It is further understood and agreed by all pariies hereto that the execution by first party and the acceptance by ! second party of any notes, renewat notes or other instruments, or the agreement by second party to any reamortizations, ' extensions, deferments 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 tinx for payment is thereby ext~nded or lessened), and shalt not discharge the ~ien of this mortgage tivhich is to remain in fuU force and effect until the tota! indebtedness secured hereby has been paid in full. All notes or other instruments contemplated herein sl~all remain uncancelled and in possession of second party,its wccessors and assigns. until the total indebtedness hereby secured is paid in full. 4_ First party witi insure and keep insured as may be required by second party from time to time all groves and orcl~ards now on said property ar that may hereafter be thereon against loss or damage by fue, windstorm, hail, frost, fretu, ! and/or other casualty, and all buildings now on said property, and all buildings which may hereafter bo erected thoreon, against loss or damage by fire, hail, windstorm, and/or other casualry, in such form, such amounts, artd in wch company or ! companies as shatl 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 claus~e attached f thereto satisfactory to second party, and will promptly pay when due aA premiums for such insurance. If any grove or i orchard shall be destrayed or damaged by fue, windstorm, hail, frost, freeae, and/or other casualty, the amount received in ~ settlement of the ioss or damage may bE applied at the option of second party on such part of the indebtedneu secured by i. this instrument as seoond party may in its sole discretion determine. [f 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 fint party to ~ the reconstruction or repair ot the buildings so destroyed or damaged, subjeci to the regulations issued or that may be issued ! ` eu~der the Farm Credit Aet of 1971 or acts amendatory thereof or supplemental thereto; 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_ = 5. Fi~st party will pay, when due and payabte, atl taxes, asseuments and other chuges that may be levied or ` assessed against said property, and all judgments and all other amounts ihat may be or become a lien thereon. 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 evoery kind and nature, now on raid land and ~ hereafter erected or placed thereon that may be destroyed or darriaged by fin, windstorm or othecwise, and will not permit t}~e change, injury or removal thereof, will not commit ot 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 said tand for E sawmiU, turpentine or other uses or purposes, except for Grewood and other ordinary farm purposes. First party witl atso ~ preserve and keep in good order and condition ati trees and timber now and hereafter growing upon the raid 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. 4 ; 7. First party will at all times properly fertilize, cultivate, qre 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 ' ' (oss or damage by Cre by making and maintaining proper fuebreaks on and around said property, and by keeping ~ nndergrowih cut, to the satisFaction of second puty and second party is hereby authorized and empowered to have appraisals ~ ' of said ro rt made b a Land Bank a raiser, or b others at such times as second P P~ Y Y PP Y , party, in its sole discretion, may desire. i The oost of such appraisals shall be paid by first party immediately upon presenWtion of an itemized statement thereof and i shall be secured by this instrument. - ~ 8. Time "u of the essertce of abave recited note. this instrumeni and of any other instiument evidencing indebtedness secured heceby. If Pust 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 reme@ies: (a) Perform any one or more of the covenants of first party in this instrument, in above recited note, or in any other instrument evideacing any indebtedness secured hereby, and all wms advanced by second party in doing so ;j shall be due and payable by first party to second party immediately without notice, and shall be secured by this ;I instrument. and ahall bear interest from the date of advance by second party at the highest rate prorided in an} note ~ or other instrument secured hereby. I; (b) Deciare alt amounts secured by this instrument immediately due and peyable without notice. (c) Proceed immediately to foreclose this mortgage, and ptusue such other remedies as may be authoriud by law. ; i' , 9. As further security for the payment of the note herein described and any other instrument evidencing ~I indebtedness secured hereby and for the performance of all the terms, conditions, and corenants of said note, said other instruments and of this mortgage, first party hereby transfers, assigns. and uts aver to second party all of the crops sown or i' i I~ 6Cf~tK ~~0 PAGf , _ , ~ - _ _ _ _ f