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Home My WebLink About1703 _ A.? I! _ - - i f i ` - 1, i TO HAVE AND TO HOLD, the said property. together with :U and singulu the rights. members. hereditament. and appurtenances thereunto belonging or in any wise a pertain~r .unto second poly, its successors and ss~grts, in fee simple forever; and fast party hereby binds himself (itsel ,his (its heir, executor. administrators. sttcoesso:s and assigns, to warrant and forever defend said property unto secon~party, its successors and assigns. [ram aced against lust poly. the hair, executors, administrators, successors and assigns of lust poly and all other persons wttomaoever lawfully chiming or to claim the sanve or any put thereof. .i ~ PROVIDED ALWAYS, NEVERTHELESS, and it is the true intent and meaning of the parties to these presents, that it. first poly shat! pay, or cause to be paid, unto second party, its wcoesson or assigns the total indebtedness secured hereby, whether evrdenced by note fast above descrtlxd, future .advance notes, or otherwise, with interest thereon as aforesaid, and shall perform all terms, conditions, and covenants according to the true intent of said note, any other instrument hereinafter ' f referred to, and this mortgage and any other instrumxnt securing note fast above described or other instrument evidenang irdebtedness of first party to second party, aril comply .with ail the provisions of the Farm Credit Ad of 1971 and all I amendment thereto, and with the regulations issued end that may be3swed by the Farm Credit Adtniniatration, cell of which zee hereby made a part hereof, then this mortgage. shall ; determine, and be utterly null and void: otherwise it shall remain in full force and effect. ' •FOR THF. CONSIDERATION AFORESAID, fast poly covenant: as follows: ~j - I . First poly is lawfully seined of said property in fee simple and I?as a perkct right to convey same; there sre no ~ i; encumbrances or liens whatsoever on said property except this mortgage. - ~j 2. 'This mortgage shaft also secure any future advances made by second parry, at its option, to fast party, or one or mare or aU of them, u may •be made during the time authorized by law_ for wch advance, PROVIDED THAT THE MAXIMUM AMOUNT SECURED HEREBY SHALL NOT AT ANY ONE TIME F.XCEIiD TtlE PRINCIPAL SUM OF i S ~ tus interest thereon. and any disbursements made for the payment of taxes, levies or inwrana on the ~ ..2S 000.00--- p- } property coveted by the lien of this mortgage, with interest on such disbursement. in the event of such advance, the amount _ ~ thereof shall be added to the mortgage debt. ~ l 3. It is further underuood and agreed by all parties hereto that the execution by fiat party aril the aooeptance by J second poly of any notes, renewal notes or other instruments, or the agramenf by second psr:y to any reamortitations, t ! extensions. deferments or other reurangement as contemplated herein shill nut be oonstrtred as payment of any 2 indebtedness hereby secured, (whether or not, among other changes in ternts, the interest rate or rates amain the same ~ and/or time for payment is thereby extended or lessened), and shall not discharge the lien of this ntorigage which is to remain I in- full force and effect until the total indebtedness secured hereby has been paid in full. All notes or other instrument coniemplated herein shall remain uncancelled and in possession of second party,it successors and assigns, until the total ; ~i indebtedness hereby secured is paid in full: - 4. First party will arson and keep inwred as may be required . by second putt' from rarer, to time all groves and ~ orcttuds now on said property or that may hereafter be thereon against loss or damage by foe, windstorm. hail. frost, freeze, a.-td/or other casualty, and all buildings now on said property. and all butldings which may hereafter be erected thereon, 1~ against loss or damage by foe, hail, windstorm, and/or other casualty, in such form, such amounts, and in such company or companies as *.hatl be satisfactory to second poly, the loos, if any, to be payable ~n second poly ss it interest may appear at i 'I the time of the ions. First pasty will deliteer to second party the policy or policies of insurance with matgs~e louse attadted thereto satisfactory to second party,. and will promptly pay when due all pnmiLms fa such insurance. If any gore ~ orchard shall be destroyed or damaged by fire; windstorm, hail, frost, freeze, and/or-other cas::dty, laic amount reaeiv+ad in settlement of the loss or damage may be applied at the option of socortd party on such part of the indebtedness second by I! this instrument as second party may in its sole discretion determine. If any building on said property so insured shall be destroyed or d:znaged, the amount nceiv+od in settlement of the loos or damage any be applied at the option of first party to the reconstruction or repair of the buildings so destroyed or darnagtd, wbjeet to the reguhtiorts. isatred -or that may be issued j ~ under the Farm Credit Act of 1971 or acts amendatory thereof or supplemental thereto; any portion of the p[ooeeds not so i~ used shaft be applied on the debt hereby secured in wch manner as second putt', in it sole discretion, may determine. 5. Fiat party will pay, when due and payable, all takes, assesurtent and other chuges that• may be levied or assessed agunst said property, and all judg~rtent and all other amctmt that may br or become a lien thereon. - 6. First party will keep is good order and condition, preserve, and npau, rebuild and restore all terraces, buildings, groves,- orchards,, fences, fixtures, shrubbery and other improvement, of every kind and nature, now on said land and hereafter erected or placed thereon that may be destroyed or damaged by foe, wudstarm of otherwise, and wilt not permit the change, injury or removal thereof, will not commit of 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 - sawmil}, turpentine or a'her uses or purposes, e~.cept for fuewood and other ordinuy fum pwposes. First party will alao~ i preserve and keep in good order and condition all trees and timber now and hereafter growing upon the said property, sad will at all times protect the tress and timber against loss or damage by fin, all to the sathfaction of the second party. i; 7. First party will. at all limes property fertilize, cultinte, are for, and maintain in a productive condition all the I; groMe and ord~•d trees now on said property or hereafter planted theneon, and will proteri~the groves and"ordtuds against j t j; ions or damage by foe by making and maintaining proper firebreaks on and around :aid property, sad by keeping undergrowth cut, to the satisfaction of second psrty and-second party is hereby authorized and empowered to Nava appraisalt of said property made by a Land Bank appraiser, or by other., at such time: ss second party, in it sole discretion, may chin. t The cost of such appraisals shall be paid by first party imrnediatdy upon presentation of an itemized statement thereof aril I shall be segued by thh ir>strumsnt. ` i 8. Time is of ttie essence of above recited note, this instrument and of my ottxr instrtirrient evidencing .indebtedness secured hereby. If fast putt' fails to ea 1t' with any covenant, condition or agreeatent in this instrument, or is 6 ~j said note, ar in any reamortization, renewal, deferment, extension agresment or other instrument evidencing nay indebtedness second hereby, second party may, at its option, exercise nay one or more of the following right, povwer:, privileges and remedies: - i Perform any once or more of the covenant of fmt .party in this instrument, in above recited note, or in any other instrument evidencing any indebtedness sectued hereby, and all sums advanced by aeeoad party in doing so = shat be due and payable by fast patty to second party immediately without notice, and shall be secured by ibis instrument, and shall beu interest rf om the dale of advutoe by second party at the highest rate provided in any note or other instrument secured hereby. t (b) Decaue all amount secured by this instrument immediately due and payable witho~it notice. ' {c) ProceM immediately to foreclose this mortgage, and pwsue such other remedies as may be authorized bylaw. 9. As further security for the payment of the rota' herein described and any other in:<rurnt:.t lea 1 indebtednESS secured hereby and for- the performance of all the terms, oonditior::, and covenant of said note, said o~ instrument and of this mortgage, fast party hereby trari:fers, ss>igna, and set over to second party all of the sops sows or _ _ ! - g~~4 .at~1'T~t