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<br />O~576
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<br />MORTGAGE
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<br />88- 10~40B,
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<br />This Mortgage is entered into between LLOYD GOODWIN. an unmarried
<br />man, and FLOYD'GOODWIN. an unmarried man, as joint tenants and not as
<br />tenants in common. herein mortgagor) and The State Bank of Cairo, !L
<br />Nebraska Bar1ldnJt COrPOration (herein mortgagee).
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<br />Mcrtgagor is indebted to Mortgagee in the principal sum of
<br />S91.000.oo, evidenced by Mortgagor's note dated April 1'1 ' 1988
<br />(herein Note) providing for payments of principal and interest, with
<br />the balan2,e of the indebtedness, if not sooner paid, due and payable on
<br />April 1'1 ,1998. .
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<br />To secure the payment of the Note, with interest as provided
<br />therein, the payment of all other sums, with interest advanced by'
<br />Mortgagee to protect the security of this Mortgage, and the performance
<br />of the convenants and agreements of the Mortgagor contained herein,
<br />Mortgagor does hereby mortgage and convey to Mortgagee the following
<br />property located in Buffalo and Hall Counties, Nebraska:
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<br />The Southwest Quarter (SWl/4) of Section 20, in Township 12
<br />North, Range 12, West of the 6th P.M., Hall County. Nebras~
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<br />~I-#-o
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<br />and
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<br />:~
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<br />The West Half of the Northeast Quarter (Wl/2NEl/4) and the ~-
<br />East Half of the Northwest Quarter (El/2NWl/4) all in Section RECORDED
<br />25. Township 12 North, Range 13, West of the 6th P.M.,
<br />Buffalo County, Nebraska, , Ro
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<br />Including all irrigation rights, wells, pumps irrigation Il 8K, /h.q(S 35~~~
<br />equipment and accessories thereto 088 NAY 10 A9:04
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<br />Together with all buildings, improvements, fixtures, streets,
<br />alleys, passageways, easements, rights, privileges and appurtenanc~...."a.'~ ,f ,-_.~
<br />located t~ereon or ~n any way p~rtaining thereto, and th~ re~ts, is~ue.\;Ef~.::-r7'-~:--'?tDS
<br />and profIts, reversIons and remamders thereof, all of WhICh, mcludlng :;!Ji :-~,~ ~ ' Y. HE
<br />replacements and additions thereto, is hereby declared to be a part of
<br />the real estate secured by the lien of this Mortgage and all of the
<br />foregoing being referred to herein as the "Property",
<br />
<br />Mortgagor further convenants and agrees with Mortg,agee, as
<br />follows:
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<br />1. Payment. To pay the indebtedness and the interest thereon as
<br />provided in this Mortgage and the Note.
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<br />2. Mortgagor is the owner of the Property, has the right and
<br />authority to mortgage the Property, and warrants that the lien created
<br />hereby is 11 first and prior lien on the Property.
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<br />3. To pay when due all taxes, special assessments and all other
<br />charges against the Property and, upon written demand by Mortgagee, to
<br />add to the payment required under the Note secured hereby, such amount
<br />as may be sufficient to enable the Mortgagee to pay such taxes,
<br />assessments or other charges as they become due.
<br />
<br />4. In the event the Property, or any part thereof, shall be taken
<br />by eminent domain, the Mortgagee is empowered to collect and receive
<br />all compensation which may be paid for any property taken or for
<br />damages to property not t.aken, and Mortgagee shall appl~' such
<br />compensation, at its option, either to a reduction of the indebtedness
<br />secured hereby or to repair and restore the property so damaged.
<br />
<br />5. Mortgagee may, but shall have no obligation. to do any act
<br />which the Mortgagor has agreed but fnils to do, and Mortgagee may also
<br />do any /let it deems necessary to pl'ntect the lien hereof. Mortgagol'
<br />agrees to repay, upon demand, any sums so expended by the Mortgngee for
<br />the above purposes, and Ilny sums BO expended by the 1'10rtgagee shall be
<br />added to the Indebtedness secured hereb~' Ilnd be caDle subject. to the lien
<br />hereof. Mortgagee shnll not incur' any personal liahility bl'C'lllSP of
<br />anything it may do or omit t.o do hereunder.
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