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REAL ESTATE' MORTGAGE
<br />FORM:FLB 208 (6-72)
<br />D�. April 15; 1975`'
<br />D � Date
<br />Marvin G. Welty an& Alice M. Welty..(also known as Alice. Marie. Welty)—,'hu'sband and wife
<br />Mortgagors,
<br />of HallCounty, Nebraska in consideration of
<br />the advance of the principal sum recited in the note hereinafter described, receipt of which .is acknowledged, hereby
<br />mortgage and convey'to
<br />THE FEDERAL LAND BANK OF W.1AHA, a Corporation,
<br />of Omaha, Douglas.'County, Nebraska, whose•address
<br />is Farm Credit Building, Omaha, Nebraska 68100,
<br />Mortgagee (subject to oll, gas, and mineral rights owned by parties other than Itortgagors; existing easements of
<br />record; reservations in United States and State patents; and the rights of the :public in all highways), the.follo%ving-
<br />described real estate in Hall County, Nebraska
<br />SEC. T111P. RG.
<br />Northerly 837.69 feet of the Westerly 260 feet of the NV -4 — 5
<br />12N 11 W 6th P.M.
<br />containing 5 acrep, more on 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 RTXTEEN THOMAun Aj�jN Np%10© — — — — — — — — — — — —DOLLARS,
<br />payable in Installments with interest according to the terms of said note, the last installment being due, and pay-
<br />able on the first` day of
<br />June, 1995 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 Mortgagorsf appli-
<br />cation for said.loan and authorized by said Act.
<br />The Mortgagors, and @ach 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 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, 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 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, valve, pledge, or endorse to the Mortgagee each lease, permit, license, or.privilege if Mortgagorsf rights
<br />In publlc domain are required by Mortgagee for security purposes.
<br />(a) That in the event the Mortgagee is.a party to any litigation affecting the security or the lien of its morC-
<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 />(s) That in the event the Mortgagors fail to pay when due any taxes, liens'; judgments,.or assessments, or fall to
<br />maintain insurance as hereinbefore provided, or fail to pay rents, fees, or charges under the terms of any lease,
<br />permit, llcense,'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 such payment or provide such insurance,
<br />or incur such obligatlon,'land 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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