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Home My WebLink About0454 ' _ ~ _ I! r ~ ~ _ ~ ~ 4 ! i ! i _ . 1 ~ . I - 1' . ~I TO HAVE AND TO HOLD, the said property, together with all and singular the righfi,"iiieniben hereditaments,and ` I appurtenances thereunto belonging of in any win appertainin ,unto second party, its sucoeason•and ass~grts,.in.fee simple ~l forever; and first party hereby binds himulf (itulf), his (its heirs, executors, adminiriratots, auccesaors and assigns, to I! warrant and forever defend said property unto second party, its successors and assigns, from and against fiM poly, the heir. i, executors, administrators, successors and assigns of first party and all other persons whomsoever lawfully claiming or to claim ' the same or any part thereof. PROVIDED ALWAYS, NEVERTHELESS, and it is the true intent and meadng of the parties to then presents, that j if first party shall pay, or cause to be paid, unto second party, its successors or assigns the coca! indebtedness ucured hereby, { whether evidenced by note feat above described, future advance notes, or otherwise, with interest thereon as aforesaid, and shall perform all terr;~s, conditions, and rnvenants according to the true intent of said note, any other instrument hereinafter referred to, and this mortgage and any other instrument securing note first above: described ut other instrument evidencing indebtedness of first poly to ucond party, and comply with all the provisions of the Farm Credit AM of 1971 and all amendments thereto, and with the regulations issued and that may be issued by the Farm Credit Administration, all of which i~ are hereby made a put hereof, then this mortgage shalt cease, determine, and be utterly null aid mid; otherwise it shat! ~ remain in full force and effect. i FOR THE CONSIDERATION AFORESAID, first party covenants as follows: ~ - ~ 1. First poly is lawfully seined of said property in fee simple and has a perfect right to convey same; there are no encumbrances or liens whatsoever on said ptopcrty except_ihis mortgage. 2. Ties mortgage shall also acute any future advances made by second party, at its option, to foal poly, or one_or more or all of them, .as may be made dwing the time authorized by law for such advance, PROVIDED THAT THE MAXIMUM AMOUNT SECURED HEREBY SHALL NOT - AT- ANY ONE TIME EXCEED THE PRINCIPAL SUM OF (I S 145, 000.00 ,plus interest thereon, and any disburuments made for the payment of taxes, levies or insurance on the property covered by the lien of this itx~rtgage, with interest on such disbwuments. In the event of such advance, the amount ~ thereotshall be added to the mortgage debt. - - - + 3. It is further untterstood and agreed by all polies hereto that the execution by first party and the acceptance b second poly of any Hates, renewal -notes or other instruments, or the agreement by second poly to say teamortiution% ~j extensions, determents or other rearrangements as contemplated herein shall not be- construed as payment of any j; indebtedness hereby secwed, -(whether or not, among other changes in terror, the interest rate of rates rcmairi the same and/or time for payment is thereby extended or lessened), and shall not discharge the lien of this mortgage which is to remain iii full force and effect until the total indebtedness secured hereby has been paid in full. All notes or other instruments !I contemplated herein shall remain uncancelled and in possession of uoond party its sueoeswrs and assigns, until the total indebtedness hereby secured is paid in full. _ ~ 4. Fins party will insure and keep insured as may be required by second poly from time to time all groves and orchards now on said- property or that may hereafter be thereon against loo or damage by fue, windstorm, hail, frost, fteeu, and/or other casualty, and aU buildings now on said property, and all buitding~ 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 companyor companies as shall be satisfactory to ucond poly, the loss, if any, to be payable to second party as its interest may appeu at the time of the loss. First party will deliver to uoond party the policy or policies of insurance-with mortgagoe clause attached _ thereto satisfactory to ucond party, and will promptly pay when due all premiums for such inswance. If any grove or i~ orchud shall be destroyed or damaged by fire, windstorm, hail, front, freeze, and/or other casualty, the amount received is - settlement of the loss or damage may be applied at the option of second party on such part of the indebtedness secured by this instrument as second. party may in its sole discretion determine. If any buildnng on said property se 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 reconstruction or repair of the buildings so destroyed or damaged, subjeM to the regulations issued or that may be issued under the Farm Credit Act of 1971 or acts amendatory thereof or supplemental thereto; any portion of the proceeds not so 1, used shall be applied on the debt hereby secured in such manner as second puty, in its sole discretion, may determine. 5. First party will pay, when due and payable, 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 lien thereon. 6. First party will keep in good order and condition, preserve, and repair, rebuild and restore sU terraces, buildings, i groves, orchuds, fences, fixtures, shrubbery and other improvements, of every kind and nature, now on said land and I hereafter erected or placed thereon that may be destroyed or damaged by -fire, windstorm a otherwise, and will not permit ~i the change, injury or removal thereof, will not commit or 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 land for sawmill, turpentine or other uses or purposes, except for fuewood and other ordinary farm purposes. First party will also i; preserve and keep in 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 loss or damage by fue, all to the satisfaction of the second poly. 7. First party will at all times properly fertilize, cultivate, qre for, and maintain in a productive condition all the is grove and orchard trees now on said property or hereafter planted thereon, and will protect the groves and ordiuds against loss or damage by fire by making and maintaining proper fuebnak: on and uound said property, and by keeping undergrowth cut, to the satisfaction of ucond poly and second puty is hereby authorized and empowertd to have appraisals _ of said property made by a Land Bank appraiser, or by others, at such turns as second party, in its sole discretion, may desire. The Dori of such a sisals shall be pp paid by first pu_ty immediately upon presentation of an iteiniud statement thereof and shall be ucund 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 lust poly fails to comply with any covenant, condition or agreement in this instrument, or in said note, or in any reainortization, renewal, deferment, extension agreement or other instrument evidencing uty indebtedness secured hereby, second party may, at its option, exercise any one or more of the following rights, powers, privileges and remedies: 7 (a) Pe_ rform 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 secured hereby, and all sums advanced by second party in doing m 1 shall be due and payable by first party to second party immediately without notice, and shall be second by this instrument, and shall bear interest from the date of advance by second party at the highest rate provided in anydote or other instrument secured hereby. - (b) Declue cell amounts ucured by this instrument immediately due and payable without notice. (c) Proceed immediately to foreclose this mortgage, and pwsue such other remedies as may be authorized by law. 9. As fwther security for the payment of the note herein described and any other instrument evidencing indebtedness secured hereby and for the performance of alt the terms, conditions, and vovenants of said note, said other instruments and of this mortgage, first party hereby transfer, assigns, and sets over to second poly all of the crops sown or i _ , ~t ono P11GE ~5~. - j