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HomeMy WebLinkAbout2283TO HAVE AhD TO HULD, the sai~ 4~roperry, together with all and singular 1he rights, members, hereditaments. and ap~~u~tcnan~cs thc~runto hclonging ot in any v-•~sc appcrta~ning, unto second party, its successors and assigns, in fee simple forever, and first party hereby binJs him~elf ~itselt~, h~s (its) heirs, executors, administrators, successors and ass~gns, to warrant and forever d~ Iend s:~id prupert~~ untu second 4>arty, its successors and ass~gns, from aod ag;~inst first parry. the heirs, rx~cuturs, aJnunistr~wrs, su~ressors and assigns of tirst party anJ all othcr pc~wns whon~wevcr lawfully claim~ng or to cla~m thc saiik ut any part thcreaf. PROVIUEU ALN'AYS, NEVERTHELESS, ~nu it is the true mtent and mcaning of ihe parUes ta these presents, that il iirst part}• sh;~ll pay, ur rause tu be paid, unt~~ second partp, its succe~sors or assigns the total indebtedness secured hereby, Nhetl~er ev~den~ed by note frst ~bove descrihed, [u~ure advance notes, or atherwise, with interest thereon as aforesaid,and shall perf~~r:n aU terms, amdit~uns, a~d ~uvenants 3ccording to thr trur intent of said note, any other instrunzent heremafter reierred tu, ~nd th~s nwrtgage :~nd auy otl~er instrun~ent xcurin~ ~~ote tirst :~bove described or other instrument evidencing ~ndebtedness of first party to second party, and comply with all the provisions uf the `Farm Credit Act of 1971 and eli 3mendments thereto, and with the regulations issued and that n~ay be issued by the Farm Credit Administration, all of which are hereby made a part hercul, then this mortgage shalf cease, determine, and be utterly null and void; otherwise it shall remain in full (orce and effect. FOR THE ('O\1SIDERATlO;~ r~FORESAIU, first party covenants as follaws: 1. First part} ~s lav-•fully seiud of sa~d propert}~ in fee simple and has a perfect ripht to convey same; therz are no ~n~umbr:~nces ur liens wt-atsvever or. said property excep! this mort~age. '. This mortgage si~aU alw secure any future advances made by secon~' party, at its option, to first party, or one or mo:e ~,r all of thern, ~s may be made during the time authorized bp law for such advance. PROVlDED TNAT THE ~1AX1!11U:-1 A~tOUNT SECURED HEREBY SHALL NOT AT ANY ONE TIi~1F EXCEED THE PRINCIPAL SUM OF S 700, 000. 00---,-plus interest tl~erron, and any disbursements made for the payment of taxes, levies or insurance on the prapert~• covered by the lien of this nwrtgage, with interest on such disbursernents. In the event af such advance, the amount thereuf shall be added to the mortgage debt. 3. It is further understoud and agreed by ~ll part~es heteto that the execution by first party and the acceptance by secor.d party of an}• notcs, renewal notes or other instruments, or the agreement by second party to any reamortizations, ~xtensions, deferments or other re~rrangements as contemplated herein shall not be construed as payment of any ~ndebtedness hereb}• secured, (whether or nut, an~ng other changes in terms. the interest rate or rates remain the sa-ne and;~~r time for payment is thereb}~ extended or -essened), and shall not discharge the lien of this mortgage v~+hich is to remain in full force and effect until the tot~l ~ndebtedness secured hereby has been paid ~n full. All notes or other instruments r~~ntemplated here~n shall rema~n uncancelled and ~n possessian of second party,its successors and assigns, until the total indcbtedncss i~ereby secured.is paid in full. 4. First party w~ll insure and keep insured as may be required by second patty from time to time all groves and urchards nuw on sa~d proEnrty or that may hereafter be thereun agamst loss or damage by fire, wmdstorm, hail, frost, fseeze. ~nJ;or other casualty, and all buildings now on said property, and all buildings which may hereafter be erected thereon, agamst luss or da«dge by Gre, hail, windstorm, and/or ottier casualty, in such form, such amounts, and in such company or cumpanies as shall be satisfactur}• to second ~arty, the loss, iC any, to be Fayable to second party as its interest may appear at tt-r ti~ne of tt-e luss. Fust party will deliver to second party the policy or pol~cies of insurance with mottgagee clause attached thereto satisfactor~ to second party, and w-11 promptly pay when due all premiums for such insurance. If any grove or ~~rcha.d sha!! be destroyed or damaged by .fire, windstorm, hail, frost, freeze, and/or other casuaity, the amount received in settlement of the loss ur demage rnay be applied at the opt~on of second party on such part of the indebtedness secured by :his instrument as second parry may in its sole d~scretion dttermine. If any building on said property so insured shall be destroyed or damaged, the arnount recerved in settlement of the loss or damage may be applied at the option of first party to the reconstruction or rep2ir of the bu~W~ngs w destroyed or damaged, subject to the regulations issued or that may be issued under the Farm Credit Act of 1971 or acts amendatory thereof or supplemental !hereto; any portion of the proceeds not so used shall be applied on the debt heret~y secured m such manner as second party, ~n rts sole discretion, may determine. 5. First party wil! pa~ , wl-en due and payable, all taxes, assessments and other charges that may be levied oc assessed against said property, and all judgments and all othcr amounts that may be or become a Len thereon. 6. E=~rs: party will keep ir~ ~ood order and condition, preserve, and repair, rebuild and restore all tertaces, buildings, gr~ves, orchards, (en~es, fixtures, shrubbery and other improvements, of every kind and nature, now on said land and hereafter rrected or placed thereon that may be destroyed or damaged by fire, windstorm or otherwise, and will not permit the change, ~n~ury o• removal thereof, w~ll not commit or ~e=mit waste on said land, and will not, except with the wtitten cunsent of second party, cut, use ur renwve, or pernut the cutt~ng, use or removal of, any timber or tree~ on said land for saw~mll, wrpentine or other uses or pur~ses, except for ~ireKO~x1 and other ordinary farm purposes. First,parly will alscs ~rese:ve and kecp ~n good ordet and cond~t~un all trees and timber now and hereafter gtowing upon the said property,and w•.!t at all tnnes protect the trees and timber against Ioss or damage by fire, aU to the satisfaction of the second party. 7. First party will at all times properly fertilize, cultivate, care for, and maintain in a ptoductive condition all the gn~~~e and urchard trees nuw~ vn said property or hereafter planted thereon, and vnll protect the groves and orchards against luss or dan~age by fire by making and maintaining proper firebreaks on and around said property, and by keeping undergrowth cut, to the satisfaction of second party and second party is hereb,y au~hnrized and empowered to have appraisals of sa~d 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 ~s of the essence of above recited note, this instrument and of any other instrument evidencing :nJebtedness secured hereby. If first party fails to comply with any covenant, condition ot agreement in this instrument, or in sa~d notc, or ~r. any reamortitation, renewal, deferment, extension agreement or other instrument evidencing any indebtedness secured hereby, second patty may. at its oFtion, exercise any one or more of the follov~nng rights, powers, pnvdeges and remedics: (a) Perform any one or more of the covenants ~f first party in this instrument, in above recited note, or in any other irtistrument evidencing any indebtedness secured hereby, and all sums advanced by second party in doing so shaU be due and Payable by first party to second party immediatety 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 insttument secured hereby. (b) Declare all amounts secured by this instrument immediately due and payable without notice. (c) Pcoceed immediately to foreclose this mortgage, and pursue such other remedies as may be autl~otized by law. 9. As lurther security for the payment of the note herein described and any other instrument evidencing - ~ndebtedness secured hereby and for the petformance o( all the terms, conditions, and covenants ot said note, said other ~nstruments and of th~s mortgagc, first party hereby transfers. assigns. and sets over to second ~rty ail of the crops sown or a~»K349 P~~~~2`~$? i --- - - --_---_ _ _-- - - - - - -- - -' _ - _~_ ~_ ..