|
REAL ESTATE MORTGAGE. FORM FLB 208 (6-72)
<br />Date March 31, 1975,..
<br />O
<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. which 1s 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), the following -
<br />described real estate in Hall County, NehraGka
<br />SEC. TWP. RG.
<br />ST& - - - - r - - - - - - - - - - - - - - - - ----- - 16 11N 12 W 6th P.M.
<br />t
<br />5
<br />containing 160 acres, more or less, together with all of the right, title, and interest
<br />(now owned or hereafter acquired)of the Mortgagors in said property, including all buildings and improvements placed
<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 Mortgagors) 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 TWENTY-SIX THOIISANn S X H iNDRFD AND NO/100 - - --ent _ - DOLLARS
<br />payable in installments with interest according to the terms of said note, the last installmbeing due and pays
<br />Able on the first day of March, 2010 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 Mortgagors, appli-
<br />cation for said loan and authorized by said Act.
<br />The Mortgagors, 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 wlll,keep all the improvements, fixtures., and appurtenances occupied and in good repair and permit no acts of
<br />waste; 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, 116ns, 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 or 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; waive, pledge, or endorse to the Mortgagee each lease, permit, license, or.privilege if Hortgagors, rights
<br />In public domain'€sre 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 eV0nt.'the,Mortgagors fall to.pay when due any taxes, liens, judgments,'or assessments{,or fail to
<br />maintain -insurance as.hereinbefore provided, or -fail to pay rents,.fees, or charges under the terms.of any lease,
<br />permtt,,license, or privilege; or Mortgagee is required to Incur expenses for abstract fees, attorney fees, costs.;
<br />expenses, and other charges In 'connection with litigation, Mortgagee may ,make subh,payment or provide such insurance,.
<br />or incur such obligation,:and<the amounts paid therefor'.shall become apart of,.the indebtedness secured hereby due.
<br />and payable,Immedlat'ely, and shall bear Interest from the -date of _payment at the rate of ten percent per annum.
<br />r.
<br />
|