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Home My WebLink About2329 i~ . ~ ~I . ~ ~i j ~ R~• this instrume•nt under~ik*yic~ci al,u hereb~• ~,lrunts and c~~m•eys untu lender, il.~ ,ucrcwsur~ ;+nd .~.,siKns, title to ~+nd ~i ~ i ~e~•urit}• interest in the Cl.~ss A.ind ('lti~s H capital stock, participutiun certific~tes, equ:ty reserve ~ind 'or till~xated surplus ~ ( rrt~ciit,, if an~~, n~~~e uwnt~cl i~r hereafter flcYauireci hy under~i~necl in lencier. ~ ~ H'(1H THF. ('():Vti11)F.ttATl()N AF()Rr:SAI1), undt~r,i~n~d com~enants <as follu~~•s: ~ ~ ~ 1. [?ndt>r~iKnrci i~ 1~~.•fuli~• sei•r.ed of <<~id pmperty in fee simple and has n perfect riRht to rnn~~ey same. ~ This mortKa~Ke ~hall ~lsu:ecure any future ad~~ancc~ made by lender, at its option, to bonower, or one or mcarn or aU ~ ~ ~~f them, a~ ma~• be made durinR the time authorizeci by law for such ad~~ance, PROVInF.n THAT THF MAXIMUM ~ i; A;41OI~NT SF.CLTRF.t) HF.RH:RY SNAI.I. NOT AT ANY ONF. TIMf~: F.XCF.EI) THF. PRINCIPAI. St1M HF.RF.TnFORF. ? ti"I'A'fF.l) plus interest thereon, and any disbursements made for the payment of t~xea, levies or insurance on the propert~~ ~ i` c~~~•ereci h}• the~ lien uf this mortk,~Ke, K•ith intere,t on such disbursements. In the event of such zdvancF, the amount thereof i ~n.~li he a~idtK1 tu the murtkake drtit. ~ I :3. It i~ further understoucl and ~i~reeci by ~Il partit~ hereto that the execution h~~ borrower and the acceptance by lender ~ ~~f ~in~• n~~tes, reneH•al notes ~~r other instruments, or the aKreement h~• lender to any re~mortizations, extensions, deferments 7 ~ ~~r ~~ther rearrankements a~ ccmtemplated herein ch~ll nat be c~nstrued as pa~•ment of an~~ indebtedness herehy secnred, ± I ~~~•h~~ther or nnt, am~~nk other chanKes in terms, the interest rate or rates remain the same and!~r time for payment is thereby ' ~ t~xtendecl ~~r le~~enedl, and shalt not discharKe the lien of this mortKaRe. All notes or other instruments contemplated herein :j p possession of lender, its successors and assi ~ ~ .hall. at the u ti~~n of lender remain uncancelled and in Kns, until the t~tal I indeliteclne~; herebt~ sec•urecl i~ paid in full, and or thiti mort~a~e is sz~tisfieci as pro~zded for herein. : i •1. L'nder~iKned ~~•ill insure and keep insured as ma}• be requireci hy lenc~er from time io time all ~-oves 3nd orchards ~ ~ n~~~~~ on c~~id prc~perty or that ma}• hereafter tx~ thereon aKainst loss or dama~e by fire, K~indstorm, hail, frost, freeze, ~nd 'or ~ ( ~~ther ~acualh~, and all huildinK~ noµ~ on said property, and all buildinKs which may hereafter be erecteci thereon, a~ainst loss r ~~r d.~m:~~;e h~• fire. hail. ~~•indstorm, a~nd or ~~ther casualt~~, in such form, surh amounts, and in such rnmpany or rnmpanies as shall be satisfactc~r~• t~~ lender, the IosG, if an}~, to be pa}•able to lender as its interest may appear at the time of the loss. i l'ndersiKned will deli~•er ta lender the policy or policies of insurance ~vith mort~a~ee clause attachecl thereto satisfactor~• to ' lender, ~nd ~~•ili prompth~ pa~• w~hen due all premiums for such insurance. If any I;tove or orchard shall be destroyed or ; ; f dam~~~;eci b~~ fire. ~~•indsturm, hail, frost, freeze and 'or othercasualty, the amount received in settlement of the loss or dama~;e ~ j ma~• he appi~ed at the opti~m of lender on such part of the indebteciness seeurecf b~~ this ~nstrument as lender ma~~ in its sole ; ! di.cretion determine. If an}~ buildin~ on ~aid propertt~ so insured shali be destm}•ed or damaged, the amount received in f ~~~ttlement ~tif the los~: or dama~e ma~~ be applied at the option of undersi~ed to the rec~nnstruction or repairof the buildings so j~ cic~str~~~•ed <,r dama~ecl, ~ubject to the reKuiatir~n~ issued or that ma~~ be issued under the Farm Credit Act of 1971 or acts :imendat~in~ thereof ~~r supplemental thereto; an~~ pe~rtion of the proceeds not sc~ used shall be applieci on the debt hereb~• ~ i ~t~:~ured in such m<~nner ~s lender, in its sole discretion, ma~~ determine. , , ~ t~ndersiKneci w•ill pa~•, K•hen due and pa~•able, all taxes, assessments and other char~es that mav be le~•ieci or j ( a..t~~secl <~Kainst said pr~pert~•, and all judKments and all other amounts that may be or become a lien thereon. ~ ~ R. L?ndersiKneci K~ill keep in ~;~x~d order ~~nd cc~ndition. presen•e, and repair, rebuild and restore all tenaces, buildinKs, ' ~;r~~~•e~, urchards. fences, fixtures, shrubher}~ and ~ther improvements, of every kind and nature, now on said land and ; ;I here~after ererted ~r placed therc~n that m~y he deGtr~~~ed or dama~ed by fire, w•indstorm ar otherwise, and will not permit the E ~ I change, injur~• «r remo~•al thereof, ~eiil not commit or permit w•aste on said land, and will not, except w~th the written consent ~ ~~f lender, cut. u~e or remove, or permit the cuttinK, use c~r removal of, any timber or trees on said land for sawmill, turpentine or = i l ~~ther use~ ~~r purpose~, exce~t for firew•cx>d and other ordinan• farm purposes. Undersi~ned will also preserve and keep in ~c~d i ~ urder and condition all trees and timber now• and hereafter ~ro~vinK upon said propert~~, and w~iil at all times protect the trees E and timher aKainst loss or damaKe hy fire, all to the satisfaction of the tender. ~ ~ I i. L~ndersi~nc~ ~ti~ll at ~~ll times properh• fertilize, culti~•ate, care for, and maintain in a productive rnndition all the ~ j; ~,~r~~~~e and orchard treec now• ~m said property c~r hereafter planted thereon, and w~ll protect the gro~~es and orchards a~ainst , j , ~ 1~~~. or damaKe h~• fire b}• makin~; and maintaining proper firebreaks on and araund said prop~rt~~, and by keepin~ ! under~rin~~th cut, to the satisfaction ~f lender and lender is hereby auihnrizeci and empowered to have appraisals of said ~ propertt~ made h~• an associati~n appraiser. or h}• others, at such times as lender, in its sole discretion, may desire. The cost of ; ~ ~uch apr; aisals ~hall be p~id h~~ borro~t•er immeciiatel~~ upon presentation ~f an itemized statement thereof and shall be a ; i ~t~cured h~• thi~ inatr~ment. ~ R. Undersi~ned !~+•here undersigned i~ or hec~mes indebted to lenderl a~rees as a condition hereof to provide current ( ~ financial statements, includin~ a halance Gheet and incY~mestatement, in a form acceptable t~ lender, as may berequestc~3 b~~ € ~ ~ lender ~if undersi~necl µ•hile the indebtedness ~ecured herehv is outstandin~. ' ~ ~ ~ y. Tireie is of the essence ~~f abc~ve recited note(s1, this insLrument and of any other instrument evidencin~ indebtecine~s ~ ~ecured hereb~•. 1f under~i~necl and "~~r horrow•er fails to comply ~vith am~ covenant, rnndition or a~reement in this instru- i mYnt, or in Gaic~ notelsi, i~r in an}• reamortizaYion, renewal, deferment, extension a~reement or other instrument evidencinR i an~~ indebtedness secured hereby, iPrider ma~~. ~t it~s option, exercise any one or more of the follow~n~ riKhts, pow~ers, pri~~iieges r ~ and remediec: ~ ~i ; I' ~a) Perf~~rm an~~ ~ne or more of the rn~•enants of undersiKnc~cl and or tx~rrox•er in this instrument, in above recited i ; i nc~tHs). or ir. an}~ other instrument e~•idencin~ any indebtt dness secured herebv, and a11 sums advanceci by lender in I~ d~~in~ so shall be due and pa~~able by borrow~er to lender immf~iately w~thout notice, and shall be secured b~~ this in~tr~ment, and shall bear interest from the date of advance by lender at the hi~hest rate pro~~ded in any note or ; j ~~ther instrument secured hereb}~. Ih) I)eclare all amounts secured by thi~ instrument immediately due and payahle without notice. ' ~c? Proceed immediately to fareclose this mort~a~e, and pur~ue such other remedies as may be authorizecl by law. i 10. As further security for the payment of the notelsl herein described and any other instrument evidencin~ indebted- nesc secured hereb~ and for the performance of all the terms. conditinns, and rnvenants of said note(sl, said other instruments and of this mortRaRe, undersiRnecl hereby transfers, as.si~s. and sets over to lender all of the crops sown or grow~nR upon the ; i ~aid mort~a~ed premises at the time af filinR suit for fareclo~urc hereof and thereafter, and all of the rents, issues, and profits ` ~ I ~~f the said mort~a~ed premises unpaid and uncollected at the time of filing suit for foreclosure hereof and thereafter, and upon i I filin~ suit for foreclvsure, or at any time thereafter, lender shall be entitled to have a receiver appointed to take char~e of the ~ j said mort~aRe premisex and the crops smvn or ~towinR thereon, to~ether with the said rents, issues, and profits arisinR j therefrom and hereby assi~r.~, and hold the came subject to the order and direction of the court. ~ f i ( ~ - 8 ~~675 PAGE2329 ~ ~ . - ~ ~ ~