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<br /> The EQUITABLE Life Assuran�e Society of the United States � ���E
<br /> �►`,
<br /> THIS MORTGAGL,dated as of the.....14th: �a},of Decer�ber , 19.76.., between Edwin SChmldt�
<br /> , ....... ............................
<br /> � sometimes also kno��m as Edwin R. Schmidt, and Karen L. Schmidt, his wife, each
<br /> individually in his and her ocan right and as spouse o£ the other,
<br /> � Wood River, Nebraska 68883
<br /> whose post ofnce address is..............:.........................................................................
<br /> ...................................................................................
<br /> ....
<br /> ' hereinafter called"D[ort�,e�or," and THL'EQUITAIILE LIPE ASSURANCG SOCIL•1y OF�T'HE IP.VITLD STd'CL•S,a Ncx� York
<br /> corpontion,having its pnnapal oRice and post otiice address at 1285 A�•enue of the Americas,IQerv 1'ork,New York 10019,hettinaftec
<br /> calied"dfortgagee';
<br /> = WHERLAS,tlie Mortgagor is justly indebted to the Diort g��ee in the sum of.�ne Hundred Fifteen Thousand & No/100--
<br /> �-���---����--'---��"-".-..Dollars (�3.�..1,15r000.U� ,) a•ith intetest,ail as sM forth in his certain promissat}•note
<br /> , ........................................................... .............
<br /> ; , rch Y.......... . 2002
<br /> ('Note")af even date herewith maturing..................................................................29[.......
<br /> NOCl�,THGRF.rORE,THIS riORTGAGL�\�ITNCSSETH,that,to secure the payment of the principal oi and interest on the Note
<br /> uid the performance of the coven.lnts thercin and herein contained,and im m�sideration of the prrmises,the Tiortgagor by these presents
<br /> does grant,bargain,sell, con��ey, transfer, usign, mo�tgage, pledge, narrant and confirm unto the Dfortgagcr all the properh• {"tbe
<br /> bforlgngeJ PropertJ„) hcreinafter dcscribed,to�wit:
<br /> ' I. 11�e following described real property IaatcYi in the County of .......................Hall
<br /> .............................................................................
<br /> ".'��� ebraska � �
<br /> ' . , State of...............�`...............................................,to-w�t:
<br /> The West Half of the Northeast Quarter (WZNE'�) of
<br /> Section FourCeen (14), To�anship Nine (9) North,
<br /> e ? Range ltaelve (12), West of the 6th P.M., Hall
<br /> _: - County, Nebraska.
<br /> i� ?
<br /> ;$:
<br /> � `:
<br /> 's •
<br /> Default by the mortgagor under any other instrument securing the debt hereby secured
<br /> ahall constitute a default under this instrument.
<br /> �' ` II. 'Ilie Dfortga�oi s interest as lessor in all leases (indudinF bu:not limited to,oil,gas and mincral leases) non• or hereafter
<br /> �' �, af�ecYing the a6o�•c-describcd mal property or an}•part thrrmf.
<br /> TOGETHER\�ITH the rents, issuu,and prafts thereaf, resen•ing,hon�ecer, (unlesi othernise procidcd herein or in a sepzrate
<br /> instrument of assitnment),unto thr Aiortga�or the tight. �rior to anc def�ult in the pa?�ment oF the Nnte or in�:erforrtur,ce of anq
<br /> agrermcnt hereunder,to mllecc anJ retain such rents,issues,and prohts as thcy txromc duc and payablc,and toGcthcr also with alt ind
<br /> singular thc tenemcnts,hc:cditunents,and appurtenances thereunto brlonging,induding irrisation,drainage,and n�ater ri�hts af crcrp
<br /> kind and description.
<br /> TO HAVE riND TO HOLD the samr unto the i�tortgagee,itr svccessots�nd usi4ns, foreve[.
<br /> � PROVIDED,AL�L'Al'S,that if the lfortGa�or,his hcirs, representatires.succcssars or assigns,shill pay unto the�tortGa�ee, its
<br /> � ' successors or assigns,the said sum of ineney mentioned in dte Note and the interest thermn at the times snd place and in the manner
<br /> p - sPecificd in thc Note,and all other sums that mac b,^com;due and o��'in�to dic A(ort�a�r.•pursuant to sny of thr trrms,coecnants and
<br /> mnditions hereof,and perfacm oll the conditions and rorenants contained in this mortE.i,Ge(":1[or:+,{5e"),thcn thrse presents and the
<br /> cstatr hereby gr�nted sl�all cease,detcmiiac and bc eoid,othern•ise to remain in full(oric and cticet.
<br /> �' AND SUBJLCT'tu the covrnants and mnditions ncreinafter set Forth.
<br /> FIRST: The AfottFa�or hrtebe cocenants and a�rees,to the extent Fermitted 65'law,as follon�r. (a) N pa}�prompdy a�hen due
<br /> the ptincipal and interest snd othcr sums of moncy pro�•ided for in thr\iotc and in this\tortgagc,ar cither;(b) to pae all tixcs,assess-
<br /> mcnts and othcr charges (indudinG ditch,csnal,rescrcuir,or othcr��atcr diarj;cs,taxc�s or asscssmcnts) imposcd b�•lan uF+on thc�foR-
<br /> Faged Property,the bfortgaSee's inttrest therein,or npon the Divrtga�e nr the Nnte;�rocided howerer,that,in the ecent oF the Pas-
<br /> sage of an}'lan•changing the laws for the tasation of mortgages or drbts scrurod hr mortgage so as to a�fect thix A1ortSaFe,the rntire
<br /> indebtedncss secured hcrcby shall,at thc o`tion of thc:�f�rt�,ige:,f:_cane due and�zyablc;(c)to kceP thc l�fortgagrd Prnperty and im-
<br /> ptorrments thereon in good condition and repair and nnt to commit or sutTer n•aste thereof,and cxmPf as�uthorized in sny xhedule
<br /> annexed herero and forming a part hercof,ne�thcr to remo��e noc p:rmit thc rcmocal of anv timber,hvildings,oil.�;as,minerals,stone.
<br /> £, ' rak,clay',fertilizer,gn�el or top so�l without thr Prior written consent oC Ihe rfortFa�re;(d) to maintain and delicrr to the Dfortgagee
<br /> E�olicics of insunnce afiainst rufi hazlyds�n the buddin;s no«�ar hercafrer laatcd on the;�tortgaged Proj?crty as the Dfortgasoe may
<br /> requirq in such companics and amounts and nith such lou p.i}'�1e dauss as shsll b:s�tisfactory�to ehe DtortFagee;d�at in the ecrnt of
<br /> lou tha rtortgagcc is espresslt•authorixed to scttic or compromisc daims under said policics and thc procccds shall be psid to the Tiort-
<br /> - gagee v��ho m�y apply samc or any part thcrcb(on the indcbtrdness secvrcd hcreby�or to�cards the rcYons;ruction oc repair of said build- `"'.,_,.�.^ .
<br /> in6s o[release same to the Atort�a�or,(e) to pay iny lien,daim or chuge a�ainst the?�tort�ag�d Propem•n�hich miGht take praedence � � N „
<br /> ocer the lirn hrreof;(I)to pay on demsnd all le�nl ex(�rnses,title searchrs,or aitorne}•fecs rcason�blr incurred or paid bti�the\toriFagee
<br /> , � to collect the Note or for�Ylose or protect the lien of the Dfortgage; (g) that in the crent he�hall fail to mmply R�ith thc procisions oE � �
<br /> (a) d�rough(f)abo�•e,the Atortyngee may tal:e such sction as�s ncYessaq•m remeup such failure and all sums paid by the\fortgaGcr .�
<br /> pursuant hem:o��ith intcrest at the rate hcrcinaftcr pro�idcd shall mnstimte a licn uE�n thc Dtortgsged Pro�+crtr, shatl be scru:cd b}� r-
<br />;�i this bforcgage,and shall be immediamly duc and rrpay�ablc to the\iortgagec; (h) not to sell the premises or am• portina therrof, or, �
<br />�•' if the Dfortgagor is a corporation,not more than.--Co of its corpnnte st�xk shall he sold,tr�ded or disposed ot�to persons other than �
<br />" ' the present oa�ners prior ro the time the indcbtcdness se�curc�ci hcrcby sh�ll ha�c been reducecl (cxdusirc of prepi}•mcnts not prrmitted
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