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<br /> 78- U 01219 �_
<br /> Ther EQUITABLE Life Assurance Society of the United States
<br /> THIS MORTGAGE, dated as of the.......5th.............day of........January..................., 19_78.., (xtween Kenrieth R. � ,�
<br /> r .
<br /> Gleason and Beverly J. Gleason, each in his and her own right and as spouse
<br /> j of the other, �
<br /> i- � � Wood River, Nebraska ,-
<br /> whou st oBce address is............................. ............. .........................................................................................................................
<br /> po . .
<br /> heceinafter called "Mort�agor," and THE EQUITABLE LIFE ASSURANCE SOCIET'Y OF THE UNITED STATES,a New York ``
<br /> corporation,having its pnnapal offce and post oBice address at 1285 Avenue of the Americas,New York,New York 10019,heceinaftet
<br /> �' [alfed"Mortgagee"; :
<br /> � 1�,ro Hundred Sixty Eight Thousand and no/
<br /> DVHEREAS,the Moctgagor is jusdy indebted to the Mortgagee in the sum of...................................................................................... .
<br /> ; 100-'--.--.--.---.--.---------.-�Ilars (E.....z�t.&o0Q0.QQ.............) with intemt,all as set Forth in his certaia promissory note '
<br /> ................
<br /> � (••Note") of even date herewith maturing.....March la................. .......,19...99
<br /> NOW,THEREFORE,THIS MORTGAGE WITNESSETH,that,to secure the paymrnt of the principat oF and inferesE on the Note
<br /> and the performance oF the covenants therein and herein contained,and in consideration oF the premius,the Mortgagor by these pnsenb
<br /> does grant, bargain, sell, convey, transfer, usign, mortgage, pledgc, warrant and confirm unto the Mortgagee all the propetty ("tbt
<br /> Mortgaged Proptrty") hereinafter described, to-wi[:
<br /> ' '' I. The following described real property l«ated in the County oF .....................................Hr1�.a,........................................................ ,;
<br /> State oF......Nebr�.�k�...................................to-wit: �= -`
<br /> South Half of the Northeast Quarter (S'�NE'�) of Section Ztaenty-two �z-
<br /> ' (22), Township Eleven (11) North, Range 1�aelve (12) West of the 6th `
<br /> F.M., i�lall County, Nebraska,
<br /> ' AND THE FOLLOWING DESCRIBED PROPERTY IACATED IN THE COUNTY OF BUFFAIA, STATE
<br /> OF NEBRASKA, TO-WIT: �
<br /> Southwest Quarter (SW'x) of Section Fourteen (14), Township Ten
<br /> (10) North, Range Thirteen (13) West of the 6th P.M., Buffalo
<br /> County, Nebraska.
<br /> � i� � � �
<br /> � Default by the mortgagor under any other instrument securing the debt hereby secured shall con-
<br /> ` � stitute a default under tE�is instrument.
<br /> ! II. 1'he Mortgagor's interest as lessor in all leas�s (including but not limited to, oil,gas and mineral leases) now or hereafter
<br /> a8ecting the above-described real property or any part thereof.
<br /> � TOGETHER WITH the rents, issues, aad profits thereoE, msrrving,however, (unless otherwise provided herein or in a separate
<br /> instrument oF usignmmt),unto the Mortgagor the right,prior to any default in the payment of the Note or in performance of any
<br /> ' � agreement hercunder,to colJect and retain•such rents, issucs,and pro6ts as they become due and payable,and together also with all and I
<br /> � singular the tenemrnts, hereditammts, and appurtrnances thereunto belonging,mcluding irrigation,drainage,and'water rights of every
<br /> kind and dacription.
<br /> TO HAPE AND TO HOLD the same unto the MoRgagee, its successors and assigns, forever.
<br /> ' PROVIDED, ALWAYS, tliat iF the Mortgagor, his heirs, npresentatives,successors or assigns, shall pay unto the Mortgagee, its
<br /> � succasors ot assigas, the said sum of money mmhoned in the Notc and the interest thcreon at the timcs and place and in the manner
<br /> - 1 specified in the Note, and all othcr sums that may become due and owing to the Mortgagee pursuant to any of the terms,covmants and
<br /> : { mnditions hereof, and perform all the conditions and covenants containcd in this mortgage("Morrgage"),then these preunts and the
<br /> � estate hereby granted shaU ceasc,determine and be void,otherwise to remain in full Form and effect.
<br /> $ AND SUBJECT to the covenants and conditions hereinafter set forth.
<br /> : ± FIRST: The Mortgagor hereby covmants and agrees, to the extent permitted by law,u follows: (a) to pay promptly whm due
<br /> ' the principal and interest and other sums of monty providcd For in the Note and in this Mortgage,or either; (b)topa y ai!wces,auess-
<br /> mea#and othez charges(including ditch,canal,reservoir,or other watcr charges,taxes or assessments) imposed by law upon the Mort-
<br /> gaged Property,the Mortgagec's interest therein,or upon the Mortgage or the Note;provided however, that, �n the event oF the pas-
<br /> sage of aay!aw changing the laws for the taxation of mortgages ot debts secured by mortgage w as to aEfect this Mortgage, the entire
<br /> � �ridebtedness xcured hereby shall,at the option of the Mortgagee,becomc due and payable; (c) to keep the Mortgaged Property and im• �
<br /> provements thezeoa in�ood condition and repair and not to commit or suffer waste thereof,and accept u authorizcd in any schedule
<br /> i annexcd hareto and forming a part hereoF, nather to remove nor permit the removal of any timber,buildings,oil,gas,minerals,smne,
<br /> cock,clay,fatilizec,gravd ot top soil wichout the prior writtem m�sent of the Mortgagee;(d) to maintain and delivet to the Mortgagee
<br /> : � polides of insarance against such haz.lyds on the buildings now or hereaftu tocated on the Mortgaged Property as the MoRgagee may �.0
<br /> q� cequin,ia suds compan�es and amaunts and with such loss payable clauses as shall be satisfactory to the Mortgagee;that in the evmt of ^ r � "
<br /> q lou the Mortgagee is r.cpressly autL�orized to sMtle or compromise claims under said policies and ihe proceeds shall be paid to tlu MoR• ' '
<br /> �agee who may apply ume oc any part thereoF on the indebtedness secured hereby or towards the recoristiuction or repu r of said build• +
<br /> ;} � mgs or;release same to the Moctgagor, (e).to pay any lien;daim or charge against the Mortgaged Pro�erty which might take cecedmce I `
<br /> ct p ^
<br /> ; ovec t 6e,lien hrr4o f;(f)ro pay on deman d a!(le�l pm tide searc hes,or attornry fees reaso n a b ly mcur r e d or pu d b y t he Mortgagee ��
<br /> ,` � bo'mllect the Note or foreclose or.proteet the lirn oftlt6e Mortga�e;{g) tla.it in the ecmt he shall Faii to comply with the provisions of ;`' r .: `
<br /> ` � (a) tLcaigh (�above,the Mortgagee maY take such aetion as u necessary to remedy such failure and all sums.paid by the Mortgagee ,� ',
<br /> pursvant heseto witfi intecet at th�nte hereiaafter pcovided shaU constitutc a lim upon the Mortgaged Property, shall be xnired by �,,.�^ - �=t+
<br /> = t6is Mortgage,and slull be immediatelg dnrand repayable to ffie Mortgagee; (h) not to sell the prcmises or any poRion thereof, or, �-
<br />, ; iF tb�.Modgagot is a mrporrtion,oot mox than�...yb of its corpont�stak shal!be sold,traded or dispoud of tu penons other than
<br /> i tLe present owners prior to-thc time die indebtedness seaucd hereby shall have been reduced (exdusive oF prcpayments not permitted
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