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Home My WebLink About0972 ~ y _ - f ~t ~I ~ i i~ , ~ • . . ; l~•;:~ ~ i • • --n- i i i • i~ • i~ li ii TO tIAVE AND 7'O HOLD. the said property. together with all and singular the rights, members. hereditsment~. and j' appurtenances thereunto belonging or in any wise appertainin , unto second puty. its :ucassors and usigns~ in fee simQle forever; and first puty hereby bindt himself (itselQ~ his (ita~ heirs~ executort, sdminlstt~tbn. success~n and assigns. to warrant and foreve~ defend said property unto second party, its aucceuors and auigns~ irom and sgair?st Cust puty, the hein. , executors, adnunistntors. succeuors and auigns of first }=arty and all othec persons whomsoever lawfuUy ciaiming ot to claim ±I ~ t!u sank or any part thereof. ~ PROVtDED ALWAYS, NEVER'THELESS, and it is the true intent and meaning of the p~rties to the~e preseat~, that if first party shall pzy, or cause to be paid. unto second p~rty. its sucasson or as:ign: the tota! indebtedneu seCUred hereby, whether evidenced by note fust above detcribed, future advana notes, or otherwise, with intere:t thereon ss afortuid, ind ~ shatl perform ail terms, conditions, and covenants according to the true intent of said note~ any other insirument hereinafter i~ refrrred to, and this mortgage and any other instrument securing nate first Above desctibed or other instrument evidencing ~ indebtedness of fint puty to second puty, and comply with all the provi:iont of the Fum Credit Act of 1971 and all ~ j; amendments thereto~ and with the regulations issued and thai mry be isaued by the Fum Cndit Admini:tratia?. all of which ue her~by mide a part hereof, then this mortgage shaU aase, determine, md be utterly nWl and v~oid; otherw~e it st?all i~ remain in futl force and eft'at. ~ ~ FOR THE CONSIDERATION AFORESAID, Grst party coverunts as foUows: ~ 1. First party is lawfully seized of said property in fee simple and has a perfect right to oonvey same; therc ue no j ~j ,I ea~umbrances or lions whatsoever on said property except this mottgage. 2. This mortgage sha!! also secure any future idvances rn~de by ~ernnd party. at its option, to futtparty, or one or more or all of them. u msy be made during the time authoriud by law for wch advanoe, PROVIDED THAT THE MAXIMUM AMOUNT SECURED NEREBY SHALL NOT A'T ANY ONE TIME EXCEEi~ THE FR[NCIPAl. SUM OF S 180, 000. 00 , plus interest thereon~ and any ditbur~me~u made [or the payment of taxa:. kvies or inwrana on the i; property cov~ered by the tien of this mortgage, with interrn on wch disbursements. In the event of wch sdvanee. the smount thereo! shall be added to the morigage debt. 3. It is further understood and agreed by all puties hento that the execution by fust party and the acaptana by second puty of any notes, renewal nota or other inatrwnents. or the agrament by xcond puty io any reamortizstions. ~ extensions, determents or other reurangements as contempLted herein shall not be oanstrued as psyment of sny j; indebtedness hereby secured, (v~rhether or not, among other changa in termt, the interest rate or ratet rsmain the same and/or time for payment is thereby extended or kssened), and slull not dis~hatge the Iien of this mortgage tvhich is to remain in full force and effect until the totat indebtedness secured hereby has been paid in full. All notes ot other insvuments ~ ! contemplated herein shal! rtrrmin uncancelled and in possession of second puty,its wcoe~on and assigns, until the total ~ indebtedneu hereby secured is paid in full. ; 4. Fir~ pvrty will insure and kap insured as may be requited by ~econd puty fcom time to time all grova snd " orchards now on said proparty or that may hereifter be thereon ag,ainst loss or damage by fue~ windriotm, hail, frost~ frau, andJor other cawalty, and all buildings naw on said property. and all buitding~ which may h~ereafte~r be erecled ttureon, against loss or damage by fire~ hail~ windstorm~ andJor other asualty~ in suzh form, sttch amounts. and in such company or ~ !I companies u shall be satisfactory to sernnd puty, the loss. if any, to be payabk to seoond puty ss its interat msy appear at P the time of the lou. First puty will dt6v~er to second puty the policy or policies of insurance with mortg~gee ciawe attac~?ed 1! thereto satisfactory to second party, and will promptly pay when due all premiurra fa wch insurance. If any grove or orchard ahall be destroyed or damaged by fue, windstorm, ha7, frost, fceeze, and/oc other aswlty, tbe ar~wunt rcaiv~ed in settlement of the loss or damage may be applied at the optian of second pariy on ~ch put of the iudebtednas ucured by this instrument u xoond p~rty may in its sok discretign determine. If any building on said propecty'o insured shall be i; destroyed flr danuged, the amount received in settkment of the lots a damag~e may be applied at the option of firtt party to the reconatruction or repait of the buildings so destroyed ot damaged, subject to the r~gufatious iuued a that ta~y be itaud ~ under the Farm Cr~dit Act of 1971 or acts unendatory theroof a:upplemenia! thereto; any portion af tbe procadt not so used sha11 be applied on the debt hereby sscwed in such manner u sernnd puty, in its ~ole discretion, may detamuia. 5. First party will pay, when due and payabte, aU taxe:, s~sesunenU and other chug~es that may be tevied or i assessed against said property, and all judgments and all other amouats that may be ~ become a liea thereon. 6. First party witl keep in goad order and condition, Qreserv~e~ ar~d reQ~ir~ nbuild and nttore ~ll temas, building~, i ~ groves, orchuds. fences, fixtures, shrubbery and other improvement:, of every kind and nature. noar on ~aid land and ~ ~ ~ hereafter erected or placcd thereon that may bc destroyed or damaged by fire, w~indstorm a atherwite, and wi11 aot petmit ~ ! i: the change, injury or remonl thereof, will not commit or permit watte on s~id land, ~nd wil! rat~ excxxpt rvith the writttn ~ i; consent of second party, cut, use or remove, or permit the cutting, use or remoral of, any timber ar tttes on s~id land for ~ sawmill. turpentine or other uses or purposa, exapt for fuewood and other ordinary fum purpofes. Firtt puty ariq also ~ ~ i~ preserve and keep in good order and condition ali trees a~ad timber now and haresfter growing upon the stid property, and ~ ~ will at all time: protect the trees and timber against loss or dunage by fire, alt to the sati~f'aciioa of the tecoed puty. ~ j; 7. First party will at all time: properly fertiliu~ cultirate, csre for, and maintain in a produeKiMe oondition all the ! li grove and orchard trees now on said property or hereafter plutted theteon. u~d will ~otect the goves and acturds ag~inst t loss ar damage by fae by making and maintaining proper firebnaks oa and uound said property~ and by kagina ~ undergowth cut, to the satisfaction of aecond puty and second puty is hereby authoriud ~nd empowered w have appni~al: ~I of said property made by a Lu?d Bank apprai~er, or by other:~ at such times as tecond party. in iq :ok di~cretian, may desire. ; ~i The coat af such appraisals shall bs psid by fust puty inunediately upon praentation of m itemiud ~atement theceof utd ' shall b~ securcd by t??is instrument. ~ 8. Time is of the essence of above recited nots, thi: instrument and of any other inttrument eridencing ~ indebtedneu aecured kereby. If Cust puty faila to eamply with any covenani~ condition or sgreemeni ia thi: insUument, or ia +i said note~ or in any rearr~ortization, renewil, deferment, extension agreecnent or other instrunneat evidencing any ii indebtednas secured hereby, second Qarty may, at its option, exercise any one or more of the following riahb~ powen, ! privilegea and temedits: (a) Perform any one or more of the oovenants of fint puty in this instrument~ in above cecited note, Qr in any ~ other in:trument evidencing any indebtednttt secured hereby, and aIl sums advanad by second puty in do' so ~i ahaU be due a~d payable by fint Qarty to stcond party immediately without notive, snd shall be secured by this j~ instrument, and shzll bear intere:t fiom the date of advancx by second patty at the highESt rate provided in any note or other instrument secured hereby. ~ (b) Dcclare all amounts ~ecured by this instrument immediatety due and payable without notice. (c) Proceed immediately to foreclose this mortgage, and pwwe wch other remedies u may be :uthoriud by law. 9. As further security for the payment of the note herein described aad any other instcumeai evidencing indebtedneu secured hereby and for the performana of all the terms. conditions. and covenants of said note~ said otha instruments and of this mortgage, first party hereby truufer:. a~igns, and sets over to seoond party ~l! af ihe aop~:ovvn or 8~364 P,~ 972 ~