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<br /> LXHIBII' B
<br /> � REAL ESTAT�: MOR'TGA(:E
<br /> KNOW ALi, MEN BY THESE PRESENTS:
<br /> That, T & E CATTLE CO., a corporation duly organize.l and existing under the laws
<br /> of the State of Ilebrabka, as mortgagor, in consideration of tF� granting of a
<br /> line of credit in the amnunt oF FOUR MILLION 'I'lJ0 IiUNUFtED FI h"I'Y 'fHOUSANll AND NO/l0U
<br /> llULLARS ($4i250,000.00), does hereby grant, bargain, scll and cunvey untv THE FIRST
<br /> NATIONAL BANK OF GRAND ISLA:�ID, a banking corporation of Crand Island, Hall County,
<br /> and State of Nebraska, to-wit:
<br /> The Southwest �uarter (5W�„) of Section 13, 'Pownship 11 �orth,
<br /> Range ZO West of the bth Y.M. , Ha11 County, Nebraska, exc�ept
<br /> tracts of land conveyed to the City of (:rand island by deeds
<br /> recorded in Book 112 at Yage 111 and in Houk 153 a[ Pa;:;e 366.
<br /> lncluding al-1 irrigatton and water ri�;lits, irrigation wells,
<br /> pumps. irrioation equipment and accessc�rie:s there[o.
<br /> Subject t� ea5emen[s uf recc�rd and tc� existing roacls and hiKhways,
<br /> together witl� all ir.�prover.�ents ehereon, equipment, fixtures and apptutenances [here-
<br /> unto belonging; and all covenants an�! all title deeds runnin�; with sucli lands; and
<br /> all rents, issues and profits arising thc:refrom after defaul[. and p�rformance of any
<br /> covenant and condition herein contained; tlie intention being to co�rvey hereby an
<br /> absolute title in fee simPle and to convey all and �very right, tit1E: and in[erest
<br /> of such 1' & h: CATTLE CO., a corpuration, in and to such real pruperty.
<br /> The mortgagor does hereby cuveuant with the me>rtgag�_e, its succe5surs and assigns,
<br /> tha[ 1t is lamfulLy seized uf satd premisea except as hereinstated and that they
<br /> will warrant and defend said premises against I.awful claims of any and all persons
<br /> whomsaever.
<br /> 'To have and Co hold the premises aUove-described with all lciprovements thereon,
<br /> including all heating, gas and plumhinc; a!�Paratus and fixture� and all a�nurtenances
<br /> tliereunto belon�ing unto The First Nactonal IIaok of Craiid Lsland, �.rand Island,
<br /> ;Vebraska, and to its successors and a5si�;ns forever, provi�ed alway�, and the�;e
<br /> presents are upon tt�e exprebs condition that if the said murtg:igor, its euccessors
<br /> or assiKns, shall pay or cause to be paid to 7'he First National Bank of Crand Lsland,
<br /> its successors or asaigns, [he total unpaid balance uf the line of credit up to
<br /> I'OUIt D1ILLtON TWO HUNllRED F1FTY 9F{OL'SA:JD AND Nl)/100 DOL1.A}tS ($4,250,000.00), plus
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<br /> interest on the from time to time principal unpaid balance at a rate of 'Twu Per Cent
<br /> (2�) per annum in excess af tlie prime rate of interest oi th� Nirst Vational Bank of
<br /> St. Louis, Missouri, applicable tu ninety-day commerc•ial loans, and after maturitv
<br /> at a rate which is Two Ver Cent (2%) per year in excess of the rate in eifect at
<br /> maturity, all according to the tenure and effect oi Uie demand pramissorv note uf
<br /> the mortga�;or, bearing even date with these presents. Mortgagor shall pay all taxes
<br /> and assessments levied upon su��h redl estate, an�l all uther taxes, levies and assess-
<br /> ments levied on said mortgage ur upun Che not� wl�ich [his mortgage iti givrn tu Secure
<br /> before the same becames delinquciit.
<br /> IT LS FURTHER AGREEll:
<br /> 1. That if the said mortgagc�r shall fail [o pay such taxes, the mortga;er, i[s
<br /> successors or assigns, may pay such taxes and procure such insurance and the
<br /> sum so advanced with interest at eleven per cent (11%) per annum, shall be
<br /> paid by thc said :oort�a,;or and t:ri:; mort�;:it;c st�all st:ind t��r ua. urit�� ��f the� �ame-.
<br /> 2. That failure to pay anY of said r.�oney, either principa] or intc�rcrst, when the
<br /> same becomes due, or a Eailure to cumply witli any of the fore�;oing agreements,
<br /> shall cause the whole sum or sums of money herein secured to becume du� and
<br /> to.:lectible at once at the option of the mortgagEe, its successors or assigns.
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