The URL can be used to link to this page

Home My WebLink About2660 t - •t - - TO HAVE AND TO HOLD, the said property, togethsr with a!! and aingulu the rights, members, heteditaments. and appurtenances thereunto belonging or in any wise a pertaining, unto second party, its sucxessots u:d ate, in fee simple forever; and fast party hereby binds himself (itssl~, his (its) heir, executors, administrators, wooesaors and assigns, to _ warrant and forever defend said property unto sewn puts, its successors and assigns, from and sgainst fItst puts, the heirs, executor, adnnistrators, suers and assigns of !'u~st puts sad al: other petsota whomsoever lawfully claiming or to skim I t_he same or any put thereof. - - - PROVIDED ALWAYS, NEVERTHELESS, and it is the true intent ared meaning of the polies to these presents, that if fast party shall pay, or cause to be paid, unto seeand puts, its wcoessors or assigns the total indebtedness secured hereby, I whether evidenced by note fast above described, future advance notes, or otherwise, with intercri thereon as aforesaid, and shall perform all terms, conditions, and covenants according to the true intent of said note, any other instrument hereinafter referred to, and this mortgage and any other instrunxnt securing note lust above described or other instrument-evade j indebtedness of fast party to second party, act oort~ly with aB the provisions of the Fast Credit Act of 1971 and I amendments thereto, and with- the regulations issued and that maybe issued by the Farm Credit Administration, elf otwhich era hereby recede a part hereof, they this mortgage shall verse, determine, and be utterly null and void; otherwise it shall remain in full force srid effect. - - - -FOR THE CONSIDERATION AFORESAID, lust poly covenants as follows: l First party is lawfully seized of said property in fee simple and has a perfect right to convey aide; there are ao - ~ encumbrances ar liens whatsoever on said property except this mortgage. 2. This mortgage shall also secure any future adva.~ces made by second patty, at its option. to fast puty~T ~ ~ more or all of them, u may ~ be tasde during the time authorized by law for such advance, PROVID MAXIMUM AMOUNT SECURED HEREBY SHALL NOT AT ANY ONE CIE EXCEED THE PRMCIPAL SUM OF S 150,000.00 - .Plus interest thereon, and any disbursements made far the payaxat of taxes, levies or inwruioe on the property covered by the Gen of this mortgage, with interest on wch disbursements. In the event of wch advance, the~amouat - thereof shall be added to the mortgage debt. 3. It is further understood and ageed by all parties hereto that the execution by first party and the acceptance by second puts of any notes, renewal notes of other itistruttients, or the agreement by second puts to -any reatiiortizatiot~, extensions, deferments. or other reamagemeats - u contemplated herein shall not be vonstrued u paymsat of any indebtedness hereby secured, (whether or not, among other changes in terrtit, the interest rate or rates remain the same . ,tidjor time for payment is thereby extended or lessened), and :ball not disdurge the lien of this mortgage afiich is to remain in full force and effect until the total indebtedness secured hereby hat been paid in full. AU notes of other instruments contemplated herein shall. remain uapncelled and in possession of second puty,its wcoessotY and assigns, until the total ~ indebtedness hereby secured is paid in full. _ = - 4. First puts will inwre and keep msurcd a: may be required by seared poly from time to time all groves and ~ orchuds now on said property or that may hereafter be thereon against loo of damage by foe; windstorm, hail, frost, freeze, and/or other pwalty, and all buildings now on said property, and all buildings which may hereafter be erected thereon against loss or damage by foe, hail, windstorm, and/or other casualty, in wch form, such anwunts, and in such company or' companies u shall be satisfactory to second party, the loos, ifany, to be pay:bk to second party ss its interest rosy appear at - f the time of the bas. First poly will deliver to second party the policy or policies of insurance with mortgagee louse attached i thereto satisfactory to second party, and will promptly pay when due all premiums fa such itisiuanve. U-any grove or orchard shall be destroyed p damaged by fire, windstorm, hail, frost, freeze, and/or other psualty, the amount received ;n settlement of the loss or damage may be applied at the option of second party on such part of the indebtednea secured by - this instrument as second party may in its sole discretion determine. If any building on said property so insured-shall be destroyed or dsanged, the amount received is settlement of the loss or damage rosy be applied at the option of fast party to the reconswction or repair of the bui7diugs ao destroyed or damaged subjecrto 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 pcooeeds not so used shall be applied on the debt hereby secured in sack manner u aecor?d party, in its sole discretion, Wray determine. (1 S. First poly will pay, when due and payable, all taxes, assuurients and other charges that may be levied or assessed against said property, and all judgments sad all other amounts that may be or become a Tian thereon. 6. First poly will keep is good order and condition, preserve, and repair, rebuild sad restore all terraces, but7diags, groves, orchuds, fences, fixtures, shrubbery and- other improvemenu, of ovary kind and nature, now on said land and hereafter erected or placed thereon that may be destroyed of damaged by -fire, windstorm or otherwise, and wt~l not permit ~ the change, injury or removal thereof, will not commit or permit waste oa said land, and vvi71 not, except with the written consent of :cooed poly, 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 or~itiary farm First will also preserve and keep in good order and condition all trees and timber now and hereafter growing said property, and will at all times protect the trees and tunber against losi or damage by fire, all to the satisfaction of the second puts. i~ 7. First poly will at all times properly fertilize, cultivate, pre for, and maintain in a productive condition all tlu - Bove and orchard trees now on said property or hereafter planted thereon, roil will protect the groves and ordiuds against loss or damage by foe by making and maintaining proper fuxbreaks on and around said Property, and by keeping undergrowth cut, to the satisfaction of second party grid second poly is hereby autliorkaf and empoxrered to have a of said property made >fy a Land Bank appraiser, or by others, at such times a: second poly, is its sole disaetion, may? desire. The cost of such appraisals :hall be paid 6y first party irritnediatdy upon presentation of an itemized statement thereof and t shall be secured by this instrutacnt. 8. Time is of the- essence of above ra:ited note, this instrument and of any other instrument evidenang indebtedness secured hereby. If first poly fail: to comply wish any covenant, condition or agaement in this inst?timent, or in ii, said nets, or - in any reamortization, renewal, deferment, extension _ agreement or other inttrumnent Evidencing any ff indvebktednand remedieshereby, second poly may, at its option,~exerciae any arx p more of the fallowing rights, po~i?ers, ~ Pn Sp (a) Perform an one or more of the oovenat?ts of first y peaty in this instrument, in above recited note. or in any other instrument evidencing any indebtedness assured hereby, snd all sums advanced by-second party in doing so _ shall be due and payable by first poly to second party immediately without notice, and :hall be secured by this ~ instrument, and shall beu interest from the date of advance by second puts at the highest rate pro~rided in say torte a other inttrunient segued hereby. ~ (b) Declare all amounts segued by this inatrutnent inirtiediately-ilue snd payable without notice. (c) Proceed immediately to foredoae this mort~e, and pursue such other remedies ss may be authorized by law. 9. As further security for the ps~mient of the note herein described and any other Instrument evideadng ~ indebtedness secured hereby and for the perfarmarioe of aD the terms, conditions, aril covenants of said note, said other instruments and of this mortgage, fast party hereby transfers, as:igtis, snd sets over to second party all of the sops sown or _ ~ { - 8324 P~~~ - - -