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Home My WebLink About0056 i w~~ M ~ i , ~ i TO HAYE AND TU tIUl.l), thc s:~id ~~rupcrty, tug~ihcr with all and singular the n~hts, mcmbers, hcred~t~mcnts, and ~ appurtenances thercuntu belonging ur in any Hise apE~ertaining, untu second party, its succeswrs and assigns. in fee simple f.~rev~r, and first ~~a~ty hereby binJs lums~lf ~it~lf~, his (~ts) hcus, executurs, adm~nisttatn[s, successocs anc! ass~gns, tu ~ N•arrant and iorev~r defend said pru~rty untu serond party, its succcssws a~id assigns, froni and ag:+inst first party, the heirs, executurs. ~dminist~at~~rs~ succeswrs and assigns of ~rst party and atl uther {krwns whoinsuevet lawfully claiming or to clairn ~ U~e san~c ur any p;~rt thcreof. PROVIDED ALWAYS, NEVERTHELESS,;~nd it is the true intent ~nd meaning i~f the parties to.these presents, that if lirs~ parly sh~ll pay,~or caux tu be paid~ unto second party. its successors or assigns the total indebtedness secured hereby, w~hethcr evidenced by note first above deu;ribed, future advance nates, or otherwise, with interesf thereon as afuresaid, and sh~ll perionn all terms, canditians, and cuvenants according ta the true i~~tent of said note, any other instrument hereinafter rel~rreJ to, artd this nx~ilgage and any olher instruiuent securing nute first above deuribed or other instrument evidencing indebtedness of first party to second party, and comply with all the provibons of the Farm Credit Act of 1971 and ali amendments thereto, and with the regulations issued and that may be issued by the Farm Credit Administration, al) of which are hereby made a part hereof, then this mortgagc shall cease, delermine, and be utterly null and void; otherwise it shall remain in ful! force and effect. FOR THE CONSlDERATION AFORESAID, Grst party cuvenants as follows: ~ 1. First party is lawfully seized of said pruperty in fee simple a~d has a perfect cight to convey same; there are no encumbrances or liens whatsoever Qn said property except this mortgage. This mortgage shall also secure any future advances made by second party, at its option. to fust party, or one or more ur a!1 ~f them, as may be made during the time authorized by law for such advance, PROVIDED THAT TNE ~ ~tAXIhfU~t AAIOUNT SECURED HEREBY SHALL NOT A7 ANY ONE T1ME EXCEED THE PRINCIPAL SUM~ OF S 572, 000. 00 . P~us ir?terest tt~erean, and any disbursements made for the payment of taxes, levies vr insurance on !he ! pn~~erty covered by the lien of d~is mortgage, with interest on such disbursen~ents. !n the event of such advanre, the amount ~ tl~creof shall be added to the rm~rtgage debt. . 3. It is further understood and agreed by all parties hereto that the execution by Grst party aad the acceptance by second party of any notes, renewal notes or otf~er insiruments. or the agreement by second party to any reamortizations. extensions, defern~ents or other rearrangements as contemptated herein shall not be construed as payment of any indebtedness t~ereby secured, (whether or not, among other changes in termt. the interest rate or rates remain the same } and/or time for payn~ent is thereby extended or lessened). and shall not discharge the lien of this mortgage tvhich is to remain in Cul1 force and effect until the total indebtedness secured hereby has been paid in (ull. All notes or otlier instruments ~ cuntemptated herein shaU reRrain uncancelled and in possession of second party,its successors and assigns, until the total indcbtedness 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 pruperty or that may hereafter be thereon against loss or damage by fire, windstorm. hail, trost, 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 fire, hail, windstorm, and/or other casualty, in such form. such amounts, and in such company or companies as sl~all be satisfactory to second Party, ti~e loss, if any. to be payable to second party as its ioterest may appear at tl~e time of the loss. Eirst party wiU deliver to second party the policy or policies of insurance with mortgagee clause attached tl~eretu satisfactory to second party, and will promptly pay when due all premiums for such insurance. lf any grove or i orehard shall he destroyed or damaged by fire, windstorm, hail, frost, freeze, and/or other casualtjr, the amount received in I settlement of the ioss or damage may ~be apptied at the option of second party on such Part oi the indebtedness secured by { this instrument as second party may in its sole discretion determine. If any building on said property so insured shall be destroycd or damaged, the amount received in settlement of the loss or damage may be applied at the option of first party to the reconstruction or repair of the buildings so destroyed or damaged, subject to the regulations issued or that may be issued under the Farm Credit Act ot i 971 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 second party, in its sole discretion, may determine. ~ 5. First party a~ill pay, when due and payable, all taxes, assessments and other charges that may be levied. or I~ assessed against said property, and all judgments and all other amounts that may be ar become a lien thereon. . 6. First party will keep in good order and condiiion, preserve, and repair, rebuild and restore a11 terraces, buildings, ~ groti^rs, orchards, fences, fixtures, shrubbery and other improvements, of every kind and nature. now on said land and ~ hereafter ereeted or placed thereon that may be destroyed or damaged by fire, windstorm or otherwise, and wiU not permit j the change, injury or re?noval thereof, wi(I not c~mmit or permit waste on said tand. and will not, except with the written j consent of second party, cut, use or renwve, or pernut the cutting, use ot_removal of, any- timber or trees on said land for sawniill, turpentine or other uses or pu~poses, except for firewood and other ordinary farm purposes. First party wil! atso preserve and kecp in goad order and condition all trees and timber now and hereafter growing upon the said property, and w ill at all times protect the trees and timber against loss or damage by fire, ail to the satisfaction of ihe second party. 7. First party will at a!1 times properly fertilize, cultivate, ~:are fur. 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 proper firebreakc on and around said property, and by keeping ~ ~~dergrowth cut, to the satisfaction ot 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 c~st of such appraisals shall be paid by first party immediately upon presentation of an itemized statement thereof and ~ shall be secured by this instrument. 8. 7'ime 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 heteby, second party may, at its option, exercise any one or more of the fotlowing rights, powers, priv~leges and rernedies: (a) Perform any une or more of the covenants of first party in this instrument, in above recited note, or in any ~ other instrunxnt evidencing any indebtedness secured hereby, and ail sums advanced by second parfy in doing so shall be due and payabte 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 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 (or 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 ucond party all of the crops sown or i ~ - - _ 80tR11I ~OJ PAGf e~ ! i I _ ~ ; _ _ _ - ~ ~ ~ ~ y'`~~~