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REAL ,ESTATE MORTGAGE `PORI, FLB 208 (6-72)
<br />a Date January 15, 1975
<br />Wendell J Gangwish and Treva E Gangwish, husband and wife
<br />Mortgagors,
<br />of Hall County, Nebraska in consideration of
<br />the advance of the principal sum'recited in the note hereinafter described, receipt of whicth is acknowledged, -hereby
<br />mortgage and convey to
<br />THE FEDERAL LAND BANK OF OMAHA, a Corporation,
<br />of Omaha, Douglas County, Nebraska, whose address
<br />is Farm Credit Building, Omaha, Nebraska 68100,
<br />Mortgagee (subject to oil, gas, and mineral rights owned by parties other than Mortgagors; existing easements of
<br />record; reservations in United States and State patents; and the rights of the public in all highways), thefollorring-
<br />described real estate in Hall County, Nebraska
<br />SEC. .TWP. RG.
<br />NEk----- - - - - - - ----------------4 9N 12 W6th P.M.
<br />containing 160 acres, more or 'less, together with all of the right, title, and interest j
<br />(now owned or -hereafter acquired)of the Mortgagors in said property, including all buildings and improvements placed 1
<br />thereon; all water, irrigation, and drainage rights; the tenements, hereditaments, and appurtenances thereto and the
<br />rents, issues, crops, and profits arising from said lands; and (if the Mortgagorsf rights in the public domain are
<br />required by Mortgagee for security purposes) all leases, permits, licenses, or privileges, appurtenant or nonappur-
<br />tenant to said mortgaged premises, now or hereafter issued, extended, or renewed to the Mortgagors by the United
<br />States or the state in which the above-described property is located or any department, bureau, or agency thereof.
<br />This mortgage is given to secure a promissory note of even date herewith, executed by Mortgagors to Mortgagee, In
<br />the principal sum of ONg MDMRFn Si'VFNTFFN THOUSAND ANDNO/100 - - - - - - - - - - - DOLLARS,
<br />payable.in installments with interest according to the terms of said note, the last installment being due and pay- 1
<br />able on the first day of Ma rrrh 9 OO4 This conveyance shall be void upon the payment of said
<br />promissory note.
<br />This mortgage is subject to the provisions of THE FARM CREDIT ACT and all acts amendatory thereof or supplemental
<br />thereto. The proceeds of the loan secured hereby will be used for the purposes specified in the Mortgagorst appli-
<br />cation,for said loan and authorized by said Acta
<br />The 1•tortgagors, and each of them, hereby warrant that they are fee owners of the mortgaged real property; that they
<br />will defend the _title against all claimants whomsoever, and that said property is free from all encumbrances; that
<br />they will keep till improvements, fixtures, and appurtenances occupied and in good repair and permit no acts of
<br />a.aste; and they will relinquish all rights of homestead in said premises, and covenant and agree with the Mortgagee,
<br />as follows:
<br />(1) That they will pay when due all taxes, liens, judgments, or assessments which may be lawfully assessed against
<br />the property herein mortgaged.
<br />(2) That they will insure and keep insured buildings or other improvements now on or which may hereafter be placed
<br />on said premises to the satisfaction of the Mortgagee, such insurance policy shall be endorsed with a mortgage clause
<br />with the loss thereunder to be payable to the Mortgagee. Any sums received may be used to pay for reconstruction
<br />of the destroyed improvements; or, if not so applied, may, at the option of the Mortgagee, be applied in payment of
<br />any indebtedness, matured or unmatured, secured by this mortgage.
<br />(3) To pay all rents, fees, or charges now due on to become due under the terms of each lease, permit, license, or
<br />privilege on the public domain which Is appurtenant or nonappurtenant to the mortgaged premises, which has been
<br />Issued, extended, or renewed by the United States or the state in which the above-described property, is located; and .
<br />to perform and observe every act, covenant, condition, and'stipulation necessary to keep each of the same in good
<br />standing; and to.take every necessary step to secure the reissue, renewal, or extension of each of the same; and to
<br />assign, walve, pledge, or endorse to the Mortgagee each lease, permit, license, or.privilege if Mortgagors, rights
<br />In public domain are required by Mortgagee for security purposes.
<br />(4) That In the event the Mortgagee is.a party to any litigation affecting the security or the lien of Its mort-
<br />gage, including any suit by -the Mortgagee to foreclose this mortgage or any suit in which the Mortgagee may be named
<br />a party defendant in which it is obligated to protect its rights or lien, including condemnation and bankruptcy
<br />proceedings, the Mortgagee may incur expenses and advance payment for abstract fees, attorney fees (except to the
<br />extent prohibited by law), costs, expenses, and other charges.
<br />(5) That in the event the Mortgagors fail to pay when due any taxes, liens, judgments, or assessments, or fail to
<br />maintain Insurance as hereinbefore provided, or fall to.pay rents, Sees, or.charges under the terms of any lease,
<br />permit, license, or privilege; or Mortgagee is required to incur expenses for abstract fees, attorney fees, costs,
<br />expenses, and other chargesin connection with litigation, Mortgagee may make such payment or provide such insurance,
<br />or Incur. such obligation, and the amounts paid therefor shall become a part of the indebtedness secured hereby due
<br />and payable immediately, and shall bear interest from the date of.payment at the rate of ten percent per annum.
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