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<br /> �g, U01142 .
<br /> MORTGAGE
<br /> I f
<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
<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 /> (51,550,000.00) , 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 an8
<br /> payable on demand.
<br /> LaVerne D. Baxter and Sharon Baxter have personally guaranteed
<br /> the debt of Five B Corporation up to Two Million and No/100 Dollars
<br /> (52,000,000.00) . This mortgage is given as security for the personal
<br /> quarantee of LaVerne D. Baxter and Sharon Baxter. Mortgagor does
<br /> hereby mortgage and convey to Mortgagee the following descrik�ed
<br /> property located in Hall County, Nebraska:
<br /> Our undivided One-Third (1/3) interest in the East
<br /> One-Half (E�) of the Northwest Quarter (NW;) and
<br /> the Northwest One-Quarter (NW;) o£ the Southeast
<br /> One-Quarter (SE'�) of Section Thirteen (13) , Town-
<br /> ship Eleven (11) North, Range Ten (10) West of the
<br /> 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 wkzich, including replacements and additions thereto,
<br /> is hereby declared to be a part of the real estate secured by the lien
<br /> of this Mortgage and all of the foregoing being referred to herein as
<br /> the "Property".
<br /> Mortgagor further convenants and agrees, with Mortgaqee, 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. Mortaagor 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 f.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 Hall County, Nebraska, which
<br /> Mortgage 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, t-o 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.
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<br /> 4. Insurance. To keep. the improvements 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
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