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<br />� The �UITABLE Life Assurance Society of the Unifed States �
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<br /> � THIS MORTGAGE,dated as of the........lst.............day of........August....................., 19.76..,between Augus t H.
<br /> Peters and Elaine A. Peters, husband and wife, each in his and her own right
<br /> and as spouse of the other,
<br /> • I : whose post office address is.....................Wood River, Idebraska 68883
<br /> ... ...........................................................................................................................................
<br /> , hereinafter called "Ator�gagar," and THE EQUITABLE LIPE ASSURANCE SOClE1'Y OP THE IJNIT'ED STATPS,a New York
<br /> corporation,haeing its principal otTice and post o(hce address at 1285 Acenue of the Americas,New York,New York 10019,hereinaRet
<br /> called"Ma�tgogee';
<br /> WHEREAS,the Mo�tgagor is justly indebted to the Mortgagee in the sum of.911e..Hundred,_Seyenty,-tiye„Thousand..and
<br /> ' No�lOQ -----'-------------..Dollars (5...175a000.00_..............)with interest,all as sct fotth in his artain promissory note
<br /> ... ......................................................
<br /> ? ("Note")of e��ea date herewith maturing.............kli7SCh..1.........,............20A1..,h�c....
<br /> NOW,THEREFORE,THIS hiORTGAGE�Y/ITNFSSEI'H,that,to secure the pa}vnent of the principal of and interest on the Note
<br /> and the performance of the covenants therein and herein contained,and in consideration of the premises,the rfortgagor by these presents
<br /> does grant,bargain, sell, convey, transfet, assign,mortgage, pledge,warrant and mnFirm unto the Mortgagce all the property ("1hr
<br /> , ; Afortgaged Properly") hereinafter described,to•wit:
<br /> , I. The foilowing descri6ed real property located in the Count}� of ..........................Hall
<br /> ........................................................................
<br /> : State of.........Nebraslca .....................ro-wit:
<br /> The Southwest quarter (SW'�) of Section �aenty-seven
<br /> (27) and the East Ha1f of the Northwest Quarter (EZNW'�)
<br /> of Section Thirty-four (34), a11 in Township Eleven
<br /> `' (11) North, Range Eleven (11), West of the 6th P.Di.,
<br /> ' Hall County, Nebraska.
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<br /> 1:
<br /> Default by the mortgagor under any other instrument securing the debt hereby secured
<br /> £
<br /> sha11 constutute a default under this instruaent.
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<br /> - II. The Mortgagor's interest as Icssor in all leues (induding but not limited to,oil,gas and mineral leases) now or hereaher
<br /> Saffeding the abore-describrd real propertp or an}'put thercof.
<br /> € TOGL•THER WITH the rents,issues,and profits thereof, reserving,ho«�eeer, (unless othern•ise pro��ided herein or in a sepnratc
<br /> instnunrnt of assignment),unto the Diortgagor the right, prior to any default in the payment oF thc Note or in performance of any
<br /> agreement hereunder,to collect and retain mch rents,issues,and profits as they�berome due and payablr,and togrther alw with all and
<br /> singular the tenemrnts,hereditaments,and appurtcnances thcrrunto be!unging,induding irrigation,drainage,and A�ater right�of erery
<br /> kind�nd deutiption.
<br /> � ' TO HAVE AND TO HOLD the ssmr unm the MoRgagee,its successors and assignz,fore��er.
<br /> PROVIDL•U,ALWAYS,that if the Atort�agor,his heirs, representatices,successors or assi�ns.shall pay unto the MoBsagtt,its
<br /> successors or assigns,the said sum of money mentioned in the Note and the interest thereon at the times and place and in the manner
<br /> � specified in the Ir'ote,and all other sums that may 6ecome due and nwing to the htortgagre pursuant ro any�of the terms,coeenants and
<br /> mnditions hereof,and prrform all the conditions and co��enants containcd in this mortgage(",1lnrl,l�a�r"�,thcn thesc presen[�and thc
<br /> <. estate hereb}•�ranted shall ce_se,determine and be�•oid,othern�ise to rcmain in Iull forcc and rficct.
<br /> AND SUBJECI'to the covenants and mnditions hrrein�fter set forth.
<br /> FIRST: The Mort�agor hercby covenants and agrees,to thc extent permittrd b}'lan•,as follows: (a) to piy prompdy when due
<br /> the principal and interest and uther sums of mone}•pro��idrd for in the Note and in this Afortgage,or cither,(b) to pay all taxes,usas•
<br /> ments and other chatges(induding ditch,canal,resen�uir,oc other n�ater chargrs,taxes ur assessments) imposed by law upon the Mort-
<br /> gaged Properh�,the Diortgagec's interest thcrein,or upon the Dlortgage or the Notr;provided ho«'e��er,that,in the event of the pas•
<br /> sage of any IaR•changing the laas for the taxation of mort��ges or debts secured b}•mortgage so as to affect this Atortgagq the entire
<br /> indebtedness secured hereby shall,at the option oE the rtortgagee,become dur and payable;(c) tn kerp the Diortgaged Property and im-
<br /> provements ihercon in good mndition and repair and not to co�r.a�it ar suifer n•astc thercof,and except as authorized in any schedulc
<br /> annexed hereto and focming a part hereof,nather to remoce nor pennit thr removal of an}'��mbet,buildings,oil,gas,minerals,stonq
<br /> rock,day,Irrtilizer,gr���el or top soil�ritiielt the ptior«�ritten consrnt of thr DtottFa�;cr; (d)to maintain and dclicer to thc htortgagee
<br /> policic�s of inmrance against such haz�rJs an the buildings noa•or hereafter Iocated on thr DfortFagrd Property as the hfottgagee may
<br /> requite,in such companirs and amounts and�+�ith such loss pa��able clauses as shall b;satisfactoq•to the i�fortga�re;that in the e�ent of
<br /> loss the;�fortgagec is cxpressly authorized to scidr or compromise claims under said policies and thc procccds shall be paid to thc Dtort•
<br /> gagm who m:+y apply same or an}•part thcarof on thc indcbtedness sccvrcd hereby or ron�ards the rcconstruction or repair of said build• ;
<br /> ings or release same to the Dtortgagor,(r) to pay'ant�lien,daim or charge against the Diortgagrd Proprrt}'afiich might take precedena �''�r °
<br /> ocer the lien hereoF;(f)tu pay on demand all legal rxprnses,tidc searchcs,�r attomcy frrz resson�bfy incurrcd or paiJ bp the Diortgagec pp ;._`
<br /> to collect the Note oc fo�eclou or protect the lien of the Dtortgage; (G) that in the erent he shall fai!to compl}•with the prot�isions of � '
<br /> � (a) through(f) above,the Diortgagee mac take such action as�s necessary�to remed}•such failum and all sums paid by thr Afortgagcr
<br />,� puauant hereto a•ith interest at the rate hereinaFter prorided shall constrtutr a lien upon the Tfortgaged Property,shall be srcured by C
<br />;� this Atottgagr,and shall be immcdiatclp due and repayable tu the Aiortgager: (h) nut to scll the prcmises or anv portion therroE, ur, �'" "�
<br />� if the htodgagor is a corporation,not more than'.-.!'e of its corr.orate stnck shall be sald,traded or disposed of�to prrsons vther than �
<br />�,.•. the prosent oa•nea prior to thc time the indebtedncss securcd hereb}• shall have been reduced (e�xclusice oF prepayments not pezmitted
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