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�.. �� , � �-�� :� ,,. �;� <.�.�. � �„� �, ''°�` (1[)`i 3 2 6 � The EQUITABLE Life Assurance Society of the United States �� THIS MORTGAGE, dated as of the.........lst............day of.........July.......................... 19..77., beta+een Augus t H. Peters and Elaine A. Peters, husband and wife, each in his and her own right rand as spouse of the other, � whose ost office address is.. . Waod River, Nebraska 68883 p . . .................................................................................................................................................. hereinafter called "Mnr��agor, and THE HQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES, a New Yock corpor3tion,having its ptinapa!affice and post office address at 1285 Avenue of the Americaz,New Yotk,Ncw York 10019,hereinaftet calied"Martgagae", ` WHEREAS the Mortgagor is justly indebted to the Mortga�ee in the surn of.1YriO..�undred Forty-three Thousand and ; No/100 .: ,.--,-,,,,,,Dollars (a.•.�43�0O�,OD ,,,,,,,,� with interest,a!1 as set forth in his certain promissory note ....... ...... � ' Note" of evon date herewith ma.turin March„1 ,,,,,,,,, ,,,,, ,... (•• ) g...................... ...... . �.QQr�. �...... . � NOW,THEREFORE,THIS MORTGAGE WITNESSETH,that,to secure the payment of the principal of and interest on the Note and the performance of the covenants therein and herein contained, and in consideration of the premises,the Moctgagor by these presents does grant, bargain, sell, convey, transfer, assign, mortgage, pledge, warrant and confirm unto the Mortgagee all the property ("tbe Mortgaged Propesty") hereinafter described, to-wit: ' I. The foIlowing descri6ed teal property located in the County of ............. „Hali ......... ..................._........................................................ .. ; State of.........Nebraska ......................to-wit: The Southwest Quarter (SW'�) of Section Twenty- , $ seven (27) and the East Half of the Northwest Quarter (E'�NW'�) of Section Thirty-four (34), all in Township Eleven (11) North, Range Eleven �' (11), West of the 6th P.M., Ha11 County, Nebraska. De£ault by the mortgagor under any other instrument securing the debt hereby secured shall constitute a default under this instrument. II. The Mortgagor's interest as lessor in all leases (including but not limited to, oil, gas and mineta! leases) now or hereafter affecting the above-described real property or any part thereof. TOGETHER WITH the rents, issues, and profits thereof, reserving,however, (unless othetwise provided herein or in a separate instrument of azsignment), unto the Mortgagor the right, prior to any default in the payment of the Note or in perfotmance oF any agreement hereunder,ro collect and retain such rents, issues, and profits as they become due and payable,and together also with all and singular the tenements, heteditarnents, and appurtenances thereunto belonging, including irrigation, dzainage, and water rights of every kind and description. TO FiAVE A1VD TO HOLD the samc unto the Mortgagee,its successors and assigns, forevec PROVIDED, ALWAYS,that if the Mortgagor, his heirs, representatives, successors or assigns, sha11 pay unto the bEortgagee, its successors or assigns, the said sum of money menGoned in the Note and the interest thereon at the times and place and ;n the manner specified in the Nute,and all other sums that may become due and owing to the Mortgagee pursuant to any of the terms,covenants and conditions hereof, and perform all the conditions and covenaats contained in this mortgage ("Mortgage"),then these presents and the estate heteby�+ranted shalt cease,determine and be void,otherwise to remain in full force and effect. AND SUBJECT ko the covenants and conditions hereinafter set forth. FIRST: The Mortgagor hereby coveaants and agrees, to the extent permitted by law, as follows: (a) to pay promptly when due the pdtxcipal and interest and other sums of money provided for in the Note and in this Mortgage,or either, (b) to pay atl taxes,assess- ments and other chacges (including ditch, tanai,seservoir,or other water charges,taxes or assessments) imposed by law upon the Mort- gaged Property,the Mortgagee's interest therein,or upon the Mortgage or the Notr; provided however, that, in the event of the pas- sage of any law changing the laws for the taxation of mortgages or debts secured by mortgage so as to af�ect this Mortgage, the entire indebtedness secuted hereby shall,at the option of the Mortgagee, become due and payable; (c) to keep the Mortgaged'Property and im- provements thereon in good condition and repair and not to commit or suffrr waste thcreof, and except as authorized in any schedule annexed hereto a�d iurming a part heceoi,neither to remove nor pecmit the removal of any timber,buildings, oil,gas,minerals,stone, rock,clay,fertilizer,gracel ar top soil without the prior written consent of the Murtgagre; (d) to maintxin and de(iver to the Mortgagee poiicies of insurance against such hazards on the buildings now or hereaftet located on the Mortgaged Property as the Mortgagee may require, in such companies and nmounts and with such loss payable clauses as shall be satisFactory to the Mortgagee; that in the event of ioss the Mortgagee is expresslyauthorized to settle or compromise daims under said policies and the promeds shall be paid to the Mort- � �,+; gagee who mayapply same or any part thrrrof on the indebtedness secured hereby or towards the reconstruction or repa�r of said build- "�"° � �ngs or release same to tl�e Mortgagor; (e) ro pay any lien,daim or charge against the Mortgaged PropeRy which might take precedence � ` over the lien hereof; (f) to pay on demand all legal expenses,tiile searches,or attomey tecs reasonably incurred or paid by the Mortgagee k ?Y � to collect the Note or foreclose or protect the lien of the Mortgage; (g) that in the event he shall fail to camply with the provisions of ? }; (a) through (F) abpve,the Mortgagee may take such action as�s necessary to remedy svch failure and all sums paid by the Mortgagee pursuant hercto with intemst at the rate hereinafter pro��ided shall constitute a lien upon the Mortgagrd Property, shall be secured by `��`' thcs Mortgage,and shall be immediatelydue and repayable to the Mortrager: (h) not to sell the premises ar any j+ortion thereof, or, � if`the Mortgagor is a torporation,not more than-.'..��of its eorPorate stock shall be sold,traded or 3isposed of to persons other than �� nc�presrnt owners pcior to the time the indebtedness secuted hereby shal! have been reduced (exdusive oF prepayments not prrmitted ,w, � � � J `.