|
REAL ESTATE MORTGAGE FORbi FLB 20e (6772)
<br />n A
<br />v
<br />Date Aueust 27 , 1975
<br />Iola H.'.Grimminger (also known as Iola Grimminger), a single woman
<br />Mortgagors,
<br />of Hall County, Nebraska In consideration of
<br />the advance ot,the principal sum recited in the note hereinafter described,recelptof which 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 riortgagors; existing easements of
<br />record; reservations in United States and State patents; andthe rights of the public in all highways), thefollowing-
<br />describ6d real estate in Hall County, Nebraska
<br />SEC.' TPlP. RG. '
<br />W 2SW4; and SEWA; and W 2NEW 4 (except 0.1826 acres,
<br />more or less, conveyed to the State of. -.Nebraska by
<br />'Deed recorded in Book 71, Page 241) — — — — — — — — — — 35 11N 9 •W 6th P.M.
<br />containing 139.8174 agres, 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'hfortgagorst rights In the publlc,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 FORTY-SIX THOUSAND NINE HUNDRED AND .NO/100 - - - - - - - - - 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 January, 2004 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 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 's 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, 1•1cense, 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.sult 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 fail to pay rents, fees, or charges under the terms of any lease,'
<br />permit, license, or privilege; or Mortgagee is required to Iiicur 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, 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.
<br />
|