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<br /> � ' 77'_ �U54�7 �
<br /> , aca�s-'o , REAL ESTATE MORTGAGE i . -..
<br /> �5-�3� NEBRASKA
<br /> (Open-End:To Secure Present and Future Obligations and Advances) '
<br /> i; �ate September 20, 1977
<br /> ' '�
<br /> « far�r Jnhnson and Linrla ���P �nhnsnn_ husband � wifP "'
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<br /> `� . � ,Mortgagor(s), � ��
<br /> ��
<br /> i . � � � � . . ,{
<br /> �; of Hall cou�ty. Nebraska , in '
<br /> �y consideration of the advance of the principal sum recited in the note hereinafter described and in consideration of future ri
<br /> �k advances made by mortgagee to mortgagorys�ar f ths�as he�einafter provided,hereby mortgages and conveys to: f;
<br /> , ° D i HNU _ _Production Credit Association, `
<br /> , whose principal office is at �rand Tclanri ,Nebraska, Mortgagee,
<br /> � Y, the following described reai property in —_,u,��_a�j-- County, Nebraska, �
<br /> s ?' subject to oil, gas, and mineral rights owned by parties other than Mortgagor(s); existing easements of record;
<br /> 3, reservations in United States and State�atents;and the rights of the public in alI highways:
<br /> ��
<br /> r� �
<br /> ,� The East Half of the Southeast Quarter (E�-�.SE�-,) of Section Twenty-four (24), Township ��
<br /> �� ��Twelve (12), Range Eleven (11). G�
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<br /> ;� 1
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<br /> ` containing $� acres,more or less,according to Government survey;together with all cf the right,title,and �
<br /> • � interest of the Mortgagor{s� in said property now owned, or bereafter acq�ired, and including all buildings end
<br /> � improvements now on,or hereafter placed upon,said real property; including also all water,irrigation,and drainage
<br /> rights.
<br /> 3
<br /> This mortgage is given to secure:
<br /> i !�
<br /> � `
<br /> � ; (a)A promissory note dated � � ?.�.����9�� given by Mortgagor(s)to Mortgagee, �
<br /> � �i in the principal sum of TwPtlt�/-t410�f1�SdY1� TkJO N11Pl�r�ri Thi���]Qf1 - --DOLLARS, t
<br /> payable with interest according to the terms of said note and any instruments taken in refinancing,extending,ar
<br /> � renewing said indebtedness or any part thereof;
<br /> (b) Any future advance�s�, with interest, which may be made frorn time to time by Mortgagee,at its option,to
<br /> Mortgagor(s),or any of them or their successors in title,for any pur ose in an amount or amounts,
<br /> j i p y provided,
<br /> k however,that such future and additional advance�s)shall be so limiaed that the total principal amounts outstanding
<br /> at any one time shall not exceed the sum of JIl1�v-ThOUSdI'1(�_dUf1�V0��OO-----------_ DOLLARS, �
<br />� j and;.ravi��d f�rther 2he ft�ture advance�s)so made sha�l be payable in accordance with the terms of a promissory
<br /> ; � no4e or�.3:ea which msy�e t�ken to evidence such advancefs)or any part thereof.�The optional advance(s)herein � �
<br /> � ;j authorized shalt be considered additional to the advance(s)hereinafter authorized to be made by the Mortgageefor
<br /> g ihe protection of the security or Mortgagee's interest therein.)
<br /> � This mortgage to be void upon the payment in full with interest of any obligatio�s,present or future,secured or to be
<br /> secured hereby.
<br /> The Mortgagor(s),and each of them,hereby warrant(s)that they are fee owners of the mortgaged real property;that
<br /> � they will defend the title against all claimants whomsoever,and that said property is free from all encumbra�ces;and �
<br /> they relinquish all rights ot homestead in said premises,and covenant and agree with the Mortgagee as follows:
<br /> i
<br /> i (1)To pay when due aIl taxes,lie�s,judgments,or assessments which may be lawfully assessed against the property a
<br /> herein mortgaged,and the rental charges upon any leases assigned as additional security far this mortgage.
<br /> ��+ (2)To iosure and keep insured buildings and other irnprovements now o�or which may hereafter be placed on said �
<br /> j prerriises to the satisfaction oS ttre Mortgagee.Any policy evidencing such insurance shall be endorsed with a mortgage
<br /> clause,approved by and in favor of Mortgagee,and deposited with,loss thereu�der to be payabfe to,Mortgagee as its
<br /> interest may appear, At the option of Mortgagor(s), and subjec2 to general regulations of the Farm Credit �
<br /> Administration,sums so received by Mortgagee may be used to pay for reconstruction of the destroyed improvement(s):
<br /> or,if not so applied,may,at the option of Mortgagee,be applied in payment of any indebtedness,matured or unmaYured,
<br /> secured by this mortgage.
<br /> 3 (3)To keep all buildings occupied and in good repair, and to refrain from the commisseon of any acts of removal,
<br /> � demolition or impairmem thereof;not to cut or remove,or permit to be cut or removed,any wood ar timber from said
<br /> real property,and to commit or pe�mit no waste or impairmenx of the value of this security;to continuously practice
<br /> approved methods of farming on said lands,to prevent erosion and the spread of noxious and damaging weeds,ane�to �j � —
<br /> preserve ihe ferYility of the soil. �
<br /> �4)That in the event Mortgagor�s)fail�s) to pay when due any taxes, rental charges upon any leases assigned as . . .
<br /> additional security fo�this mortgage,liens,judgments,or assessments lawfiully assessed against the property herein
<br /> mortgaged,or fail�s)to maintain insurance as hereinbefore provided,Mortgagee may make such payment or provide
<br /> � such insurence, and the amount(s) paid therefor shall become a part of the indebtedness secured hereby,due and `
<br /> ; ,� payable immediately,and shall bear interest at the current rate of the Mortgagee at the time the Mortgagee makes such ,� , ;
<br /> # Payment. '4'*�
<br /> � (5)Yhat in the event Mortgagorts),defaultis}in 2he payment of said principal sum,or in the repayment of any.additiona� . �q ��
<br /> � 's advance�s)made as herein provided,or of a�y interest thereon,at the time when the same shall be due,orwith respect to
<br /> any covanant or aondition hereof. then,at the option of Mortgagee, 2he entire indebtedness secured hereby shall ;�,$-rt
<br /> �� forthwith become tfue and payable.ahall bear interest at the current rate of tbe Mortgagee on the dace of the default,and - r,,�y,
<br /> c; the Mortgagee may immed�ately foreclose this mortgage or pursue any other available legat remedy.In the event of any
<br /> action by Mortgagee to anforce collection of the mortgage debt,the Mortgagor(s)agree{s)thai any expense incurred to
<br />� ?i i �xocure or extend an abstract of t*I.>shaill.when paid t�y Ma�!�a� be�er.^.e 3 part of the�'ebt secured hereby,artd shalt
<br /> ' � .i�b paio iiy".iviui2yuS'v7�Sj 2uycu�or --.:•`' � .
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