168-269 - Laserfiche WebLink

Browse

REAL ESTATE .MORTGAGE FORM. FLe 208 ('6-72) Date March 13, 1975 i r Loel L Luft (also known as Loel Luft) and Sandra T.� Tf_r_(a1 so knnwn as Sandra T.11ft1 T husband and wife Mortgagors, of Hall County, Nebraska In consideration:of the advance of the principal sum recited in the note, hereinafter described, receipt of which is acknowledged, hereby mortgage and convey -to THE FEDERAL LAND BANK OF OMAHA, a Corporation, of Omaha, Douglas County, Nebraska, whose -address is Farm Credit.Building, Omaha, Nebraska 68100, Mortgagee (subject to oil, gas, and mineral rights owned by parties other than Mortgagors; existing easements of i record; reservations in United States and State patents; and the rights of the public in all highways), the roilowing- j described real' estate in HallCounty, Nebraska SEC. T111P. RG. SEI -4 ST -N; and 8144 SE4- - - - - - - - -.— - — - - - — — — - — 11 V-2 NE4 NW4; and W-12 NE4; and SE14 NE4; and S NEI-4 NE14— — — -- — 14 All in— — _ — — — - — — — — — — — — — — — — —---- — — - ION 10 W :6th P.M. It is agreed that, if there are prior mortgages to The Federal Land Bank of Omaha on the above security default under one loan shall be considered a default of all loans. Ii • containing 240" acres, more or less, together with all of the right, title, and interest (now owned or hereafter acquired)of the Mortgagors In said property, including all buildings and improvements placed j thereon; all water, irrigation, and drainage rights;, the tenements, hereditaments, and appurtenances thereto and the rents, Issues, crops, and profits arising from said.lands; and (if the Mortgagors, rights in the public domain are `required by Mortgagee for security purposes) all leases, permits, licenses, or privileges, appurtenant or nonappur- i tenant to said mortgaged premises, now or hereafter Issued, extended, or renewed.to the Mortgagors by the United States or the state in which the above-described property is located or any department, bureau, or agency thereof. This mortgage is given to secure a promissory note of even date herewith, -executed by t•fortgagors to Mortgagee, in the principal sum of ONE HUNDRED THIRTY=FOUR THOUSAND ONE HUNDRED AND N0I100 - - - '- DOLLARS, payable in installments with interest according to the terms of said note, the last Installment being due and pay- able on the first day of March, 2004 This conveyance shall be void upon the payment of said j promissory note. This mortgage is subject to the provisions of THE FARM CREDIT ACT and all acts amendatory thereof or supplemental thereto. The proceeds of the loan secured hereby will be used for the purposes specified in the Mortgagors, appli- cation for said loan and authorized by said -Act. The Mortgagors, and -each of them, hereby warrant that they are fee owners of the mortgaged real property; that they will defend the title'against all clalmants.whomsoever, and that said property.is free from all encumbrances; that they will keep all the improvements, fixtures, and appurtenances occupied and in good repair and permit no acts of waste; and they will relinquish all rights of homestead in said premises, and covenant and agree with the Mortgagee, as follows: (1) That they will. pay when due all taxes; liens, Judgments, or assessments which may be lawfully assessed against the property herein mortgaged. (2) That they will insure and keep insured buildings or other improvements now on or which may hereafter be placed on said premises to the satisfaction of the Mortgagee, such insurance• policy shall be endorsed with a mortgage clause with the loss thereunder to be payable to the Mortgagee. Any sums received may be used to pay for reconstruction of the destroyed improvements; or, if not so applied, may, at the option of the Mortgagee, be applied in payment of any indebtedness, matured or unmatured, secured by this mortgage. (3) To pay all rents, fees, or charges now due or to become due under the -terms of each lease, permit, license, or privilege on the public domain which is appurtenant or nonappurtenant to themortgaged premises, which has been Issued, extended, or renewed by the United States or the state in which the above-described property is located: and to perform and observe every act, covenant, condition, and stipulation necessary to keep each of the same in good standing; and to take every necessary step to, secure the reissue, rener,al, or extension of each of the same; and to assign, valve; pledge, or endorse to the Mortgagee each lease, permit, -license, or.privilege if Mortgagor%st rights In public domain are required by Mortgagee for security purposes. (a) That in the event the Mortgagee is,a party to any litigation affecting the security or the lien of its mort- gage, including any suit by the Mortgagee to foreclose this mortgage or any"suit in which the Mortgagee may be named a party defendant In which It is obligated -to protect its rights or lien, including condemnation and bankruptcy proceedings,'the Mortgagee may incur expenses and advance payment for abstract fees, attorney fees (except to the extent prohibited by law), costs, expenses, and other charges. (5) That in the event the Mortgagors fail to,pay when due any taxes, liens, judgments, or assessments, or fall to maintain insurance as hereinbefore provided, or fail to pay rents, fees,.or charges under the terms of any lease, permit, license,- or privilege; or Mortgagee is required to incur expenses for abstract fees, attorney fees, costs, expenses, and other charges in connection with -litigation, Mortgagee may make such payment or provide such insurance, or Incur•such obligation, and the amounts paid therefor shall become a part of.the indebtedness secured hereby due and payable immediately, and shall bear interest from the date of.payment at the rate of ten percent per, annum. CCPV !/