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<br /> Zs_ U U 1141 �
<br /> MORTGAGE
<br /> This Mortgage is entered into between LaVERNE D. BAXTER and
<br /> SHARON BAXTER, Husband and Wife (herein "Mortgagor") , and THE +
<br /> OVERLAND NATIONAL BANK OF GRAND ISLAND, Grand Island, Nebraska I
<br /> (herein "Mortgagee") .
<br /> Mortgagor is indebted to Mortgagee in the principal sum of
<br /> One Million Five Hundred Fifty Thousand and No/100 Dollars
<br /> ($1,550,000.00) , evidenced by Mortgagor's note dated
<br /> (herein "Note") providing for payments of principal and interest,
<br /> with the balance of indebtedness, if not sooner paid, due and
<br /> payable on demand.
<br /> LaVerne D. Aaxter and Sharon Baxter have personally guaranteed
<br /> the debt of Five B Corporation up to Two Mi17.ion an@ No/lOQ DoZlars
<br /> ($2,000,000.00) . This mortgage is given as security for the personaZ
<br /> guarantee of LaVerne D. Baxter and Sharon Baxter. Mortgagor does
<br /> hereby mortgage and convey to Mortgagee the following described
<br /> property located in Hall County, Nebraska:
<br /> Thirty (30) acres located in the Southwest Quarter
<br /> of the Southwest Quarter (SW;SW;) of Section Thirty-
<br /> Three {33) , Townsl-iip Eleven (llj North, Range Ten
<br /> (10) West of the 6th P.M., Hall County, Nebraska
<br /> and
<br /> The North One Half of the Northwest quarter (N�NW4)
<br /> of Section Four (4) , Township Ten (10) North, Range .
<br /> Ten (10) West of the 6th P.M. , Hall County, Nebraska.
<br /> Together with all buildings, improvements, fixtures, streets,
<br /> alleys, passageways, easements, rights, privileges and appurtenances
<br /> located thereon or in anywise pertaining thereto, and the rents,
<br /> issues and profits, reversions and remainders thereof; including,
<br /> but not limited to, heating and cooling equipment and such personal
<br /> property that is attached to the improvements so as to constitute a
<br /> fixture; all of which, includinq replacements and additions thereto,
<br /> is hereby declared to be a part of the real estate secured by the lien
<br /> o£ this Mortgage and all of the foregoing being referred to herein as
<br /> the "Property" .
<br /> Mortgagor further convenants and agrees, with Mortgagee, in the
<br /> event Five B Corporation defaults on the above described note, as
<br /> follows:
<br /> 1. Payment. To pay the indebtedness and the interest
<br /> thereon as provided in this Mortgage and the Note.
<br /> 2. Title_ Mortgagor is the owner of the Property, has the
<br /> right and authority to mortgage the Property, and warrants that the
<br /> lien created hereby is a £irst and prior lien on the Property, except
<br /> as may otherwise be set forth herein.
<br /> The Property is subject to a Mortgage wherein the
<br /> Federal Land Bank Association is the Mortgagee, recorded at Book 151,
<br /> Page 634 of the Mortgage Records of tiall County, Nebraska, which
<br /> Mortgaye is a lien prior to the lien created hereby.
<br /> 3. Taxes, Assessments. To pay when due all taxes, special
<br /> assessments and all other charges against the Property and, upon
<br /> written demand by Mortgagee, to add to the payments required under the
<br /> Note secured hereby, such amount as may be sufficient to enable the
<br /> Mortgagee to pay such taxes, assessments or other charges as they �
<br /> become due. _ .�,,. ,�
<br /> 4. Insurance. To keep the impravements now or hereafter �'
<br /> located on the real estate described herein insured against damage by ,
<br /> fire and such o�her hazards as Mortgagee may require, in amounts and ,s:,
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