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Home My WebLink About2554 ~k=- ';i Mortgagor states under oath that the above;described property is not ! the homestead of the Mortgagor and Mortgagor does not reside on property ' which is adjacent nor contiguous thereto. ;i . , TU NAVE AND TO t10LD, ti~e said propcrty; together with all and singular the rigl~ts, members. hereditaments, and appurtenances thereunto bclonging or in any wise appertaining, unto second party. its successors and assigns. in fee simple forever, and first parry hcreby binds hinuelf (itseln, liis (its) licirs. executors. adnunistratots~ successors a~d assigns, to warrant and farever deCend said property unto second party. its succeuors and assigns, from and against ficst party, the heirs. executurs, administrators, successors and assigns uf first parry and all other persons whomsoever lawfully claiming or to claim tl~e san~e or any part ihereof. ~ PROVIDED ALWAYS, NEVERTFIEt_ESS, and it is the true intent and meaning of the paniesi'b these pt~eMts, that if first party shall pay, or cause to be paid, unto second party. its successors or aasigns the total inde~ledness secut~{~ereby, ~ whether evidenced by note first above Jescribed, future advance notes, or otherwise, with interest thereun as aforesaid, and sl~ali perform all terms, conditions, and covenants according to tl~e true intent of said note. any other instrument fiereinafter ' referred to. and this nwrtgage and any ~ther instrument securing note first above described or other instrument evidencing indebtedness of first party to second party, and comply with aU the provisions ot the Farm Credit Act of 1971 and all amendments thereto, and with the regulations issued and that may be issued by the Farm Credit Administration, all of which are hereby made a part hereof. then this mortgage shaU cease, determine, and be utterly null and v~oid; otherwise it shall remain in ful! force and effect. FOR THE CONSIDERATION AFORESAID, first party covenants as follows: ' 1. First party is lawfully seized of said pruperty in fee simple and has a perfect right to convey same; there are no encumbrances or liens whatsoever on said property except this mortgage. 2. This st~rtg3ge ~h2!! 21S^ s!'C~1!P 3ny fi~ture advances made hv secnnd ~arty, at its option; to first nartv, or one or , more or all of them, as may be made during the time authorized by law for such advance, PROVIDED THAT THE MAXIMUNI AMOUNT SECURED HEREBY SHALL NOT AT ANY ONE T1ME EXCEED THE PRINCIPAL SUM OF S 490, 000. 00 , plus ~ nterest thereon, and any disbursements made for the payment of taxes, levies or insurance on the propert~~ covered by the lien of this mortgage, with interest on such disbursements. !n the event of such advance, the amount ' thereo[ shall be added to the mortgage debt. 3. It-is further understood and agreed by all parties hereto that the execution by first party and the acceptance by second parry af any notes, renewal notes or other instrumenis. or the agreemant by second party to any reamortizations. ` extensions, deferments or other rearrangements as contemplated herein sha11 not be construed as payment oi any indebtedness hereby secured, (whether or not. among other changes in terr~u, the intercst rate or rates remain the same and/or time for payment is thereby extended or lessenedj, and shall not discharge the lien of this mortgage which is to cemain in full force and effect until the total indebtedness secured hereby has been paid in full. All notes or other instruments contemplated herein sliall remain uncancelled and in possession of second party,its successors and assigns, until the 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 aU groves and orchards now on said property or that may hereafter be thereon against loss or damage by fire, windstorm, hail, frost, treeze. and/or other casualty, and all buildings now on said property. and all buildings which may hereaRer be erected thereon, against loss or damage by fire, hail, windstorm. and/or other casualty, in such form, such amounts, and in such compa~ny or companies as shal! be satisfactory to second party, the loss, if any, to be payable to second party as its interest may appear at ehe time of the loss. First party will deGver to second party the poticy or policies of insurance with mortgagee clause attached ' thereto satesfactory 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 settlement of the loss or damage may be applied at the option of second party on such part of the indebtedness secured by this instroment as sernnd party may in its sole discretion determine. If 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 first party to ! the re~onstruction or repair of the buildings so destroyed or damaged, subject to the regulations iswed or that may be issued ; under the Farm Gedit Act of 1971 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 will pay, when due and payabte, all taxes, assessments and other charges that may be levied or ' assessed against said property, and all judgments and all other amounts that may be or become a Gen thereon. 6. First party will keep in good order and condition, preserve, and repair, rebuild and restore all terraces, buildings, { groves, orchards, 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 otherwise, and will not permit ~ tl~e change, injury or removal thereof, will not commit or permit waste on said land, and will not, except with the written ~ w°-^~ ~°t~r`T~ }•aii3'. ii:'i~ ~3+°• Qi l41SC_~ii~ ~i }%tiiseui i~i~ Cvtiiisg~ ~Su~ :)S !~:':^Y3~ ^f: 2.^.Y *!!~:~f :Df t~~PS ~I~ ~2nr1 Fnr - ~ sawmill, turpentine or other uses or purposes, except Cor firewood and other ordinary farm purposes. First party will also ~ preserrre and keep in good order and cond~tion all trees and timber now and hereafter growing upon the said property, and ~ will at all times protect the trees and timber against loss or damage by fire, all to the satisfaction of the second Qarty. ~ 7. First party wiU at all times properly fertilize, cultivate, care for, and maintain in a productive condition all the ~ grorre and orchard trees now on said praperty or hereafter planted thereon, and will protect the groves and orchards against ~ loss or damage by ~re by making and maintaining proper fuebreaks on and around said property, and by keeping undergrowth 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 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. 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, de(erment, 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: : g ' (a) Perform any one or more of the covenants of first party in this instrument, in above recited note, or in any = other instrument evidencing any indebtedness xcured 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 instrument immediately due and payable without notice. ~ (c) Proceed immediately to foreclose this mortgage, and pursue such other remedies as may be aut;~orized by law: a ~ 9. As further security for the payment of the note herein described and any other instrument evidencing indebtedness secured hereby and fot the performance of all ihe 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 ~ ~ Rt 311 k