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HomeMy WebLinkAbout2102TO HAVE AND TO HOLD, the said property. togethet with all ~nd singulu the rights. memben~ he~editaments. and appurtenances thereunto belonging or in any wise appertainin , unto second party, its sucauors and auignt. in fee simple forever; and first party hereby binds himulf (itseln. his (its~ hei~s, •xecutocs, administrators. :ucauors and assigns. to warrant ~nd forever de[end said propetty unto second puty. its successors and assigns, from and ag,~inst fttst puty. the hein. executors. administntors. successors and assigns of first party and all other persons whomsoever lawtully ctaiming or to claim ti~e sank or any part thereof. PROVIDED ALWAYS, NEVERTNELESS. and it is the true intent and meaning of the psrties to ihese presents~ ihat if first party shall pay, or cause to be paid. unto second party, its successors or assigns the total indebtedness secured hereby. whether evidenced by note firu abuve deuribed. future advance notes, or• otherwise, with intere:t thereon as store~id. and shall ~xr[orm all terms, cond~tions, and covenants ~ccording to the true intent of said note, any other inst~ument hereinaftec refetrrd to. and this nwrtgage and any othe~ instruuient securing note first above desctibed or other inst~ument evidencing indebtedness o! first puty to ucond party. and comply with aU the provisions ot the Fum Credit Act of 1971 and all amendments thereto, and with the regulations iuued and that may be issued by the Farm Credit Administration. all oiwhich are hereby made a put hereof, then this mortgage shall aau, determine, and be utterly null and v~oid; otherwise it shall remain in full force and effcet. FOR THE CONSIDEItAT10N AFORESAID, first party covenanti as follov~s: ~ 1. First party is lawfully seized of said property in ke simple and has a perfect tight to convey ~ame; there are no encumbrances or liens whatsoever on said property except this mortgage. '~` 2. This mortgage shall also secure any future advances made by second Party. at its option. to fint puty. or one or more or ali of them, as may be made during the time authorized by !aw for such advana. PROV[DED THAT TI~ MAXIMUI-1 AMOUNT SECURED HEREBY SHALL NOT AT ANY ONE ?IME EXCEED THE PRINCIPAL SUM OF s14, 725, 000. 00 • P~us interest thereon, and any disbursements made for the payment of taxes~ levies or insurana on the property covered by the lien of this mortgage, with intereat on such disbursements. in the event of such advana, the amount thereof shall be added to the mortgage debt. 3. It is further understood and agceed by aU puties hereto that the execution by fust puty and the acaptana by second party of any notes. renewal notes or other instrwr~ents~ or the agreement by seoond puty to any reamortizations. extensions, deferments or other rearnngements as contemplated herein shall not be consttued s payment of any indebtedness hereby secured. (whether or not, among other changes in ter~, the interest rate or rata remain ihe same and/or time for payment is theceby extended or kssened), and shall not discharge the Gen of this mortgage Vvhich is to remain in full force and effect until the total indebtedneu secured hereby has been paid in full. AU notes or other instruments contemplated herein sl~all remain uncancelled and in possession of seoond puty.its wcassors and auigns. unW the total indebtedness hereby secured is paid in full. 4. First party will insure and keep insure¢ as may be required by second puty from time to time all gcovrs and orchards now on said property or that may hereafter be thereon sgainst lou or damage by fue, windstorm. hail, frost. freeu. and/or other casualty, and atl 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 cuualty, in wch form. such amounts. and in wch oompany or companies as shall be satisfactory to second party, the loss. if any, to be payable to second puty u its interest may appear at the time of the loss. First puty will deGve_r to seoond party the poGcy or policies of insurana with mortgsgee clause attached thereto satisfactory to second party, and will promptly pay when due aU premiums for wch insunna. If any Erove or orchard shall be destroyed or damaged by tue, windstorm. hail,-frost, freeu. and/or other cuualty, the amount reaivr.d in settlement of the lou or damage may be applied at the option of second party on such put of ihe indebtednas xcured by this instrument as second party may in its sole discretion detarmine. If any building on ssid property w inwred shall be destroyed or damaged, the amount received in settkment of the loas or damage may be spplied at the option of fust party to the reconstruction or repair of the buildinp~ so destroyed oc damaged. iubject to the regu4tions 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 uxd shall be applied on the debt heret,y secured in such manner as seoond patty. in iu sole disctetion, may determine. 5. First party will pay, when due and payable, all taxes. asseuments and other chuges that may be kvied or assessed ag,ainst 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 aU terraas. building~. groves, orchards. fences, fixtures. shrubbery and other improvements. ot every kind and natuce. now on said land and hereafter erected or placed thereon that may be destroyed or. damaged by fue, windstorm a otherwise. and will not permit the change, injury or removal thereof, will not commit or permit wute on said land. and wiU not, except with the written consent of xcond party, cut, use or remove, or permit the cutting, use or removal of. any timber or trees on said land for sawmfU, turpentine or other uses or purposes. except for firewood and other ordinary fum purposes. First puty wiU also preserve and keep in good order and condition all trees and timber now and heteafter 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 seoond patty. 7. First party will at all times properly fertilize, cultivate. care for. and maintain in a productive condition all the grove and orchard trees now on said property or hereafter planted thereon~ and wiU protect the goves and otchuds ag~inst loss or damage by fire by making and maintaining proper fuebreaks on and around said property, md by Iceepit~ undergowth cut, to the satisfaction of second puty and second party is hereby authorized and empowered to have apptaisals of said property made by a Land Bank appraiser. or by others~ at such times as second party, in its wle discretian. may desire. 7'he cost of such appraisals shall be paid by first puty immediately upon presentation of an itemized statetnent thereof and shall be secured by this instrument. 8. Time is of the essencc of above recited note, this instrument and of any othet instrument evidencina indebtedneu secured hereby. If fust party fails to comply with any covenant. condition or agrcement in this insUwnent. ar in said note, or in any reamortization. renewal, deferment. extension agreermnt or other instrument evidencing any indebtedness secured hereby. second party may. at its option, exercise any one or more of the following rights, powers. priv~eges and remedies: (a) Perform any one or more of the covenants of fust party in this instrument. in abowe cetited note~ or in any other instrument evidencing any indebtedness secured hereby. and all wms advanad by xcond puty in doing so shall be due and payable by first party to second puty immediately without notice. and shall be securcd by this instrument, and shaU 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 authoriud by law. 9. As further security for the payment of the note herein described and any other instrument evidencing indebtedness secured hereby and for the performance of all the terms. conditions, and covenants of said note. said other instruments and of this mortgage. first party hereby tnnsfers. auigns, and sets over to second ~arty all of the crops sown or growing upon the said mort~ged premises at the time of l~in6 wit fa foredosure hereot and therafter, and all of the rents. iuues. and profits of the said mortg~ged premisa unpaid and uncollected at the time of fding suit for foreclosure hereof and therwRer. and upon filing wit for foreclosure, or at any time thereafter, ~econd pacty shall be entitled to have a reaiver appointed to take chuge of the said mortgage premises and the crops sov-m or growing thereon, together with the said rents, iswes, and profits uising therefrom and heteby auigned. and hold the same subject to the order and d'uection ot the court. *Except liens of Prudential Life Lzaurance Co. of America. a.~3~7 P~~1~96 ; ~ ~ ~. ~.~~ ~ .~ _.