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86-101707
<br />MORTGAGE, SECURITY AGREEMENT AND FIN)LACING STATEMENT
<br />THIS MORTGAGE, SECURITY AGREEMENT AND FINANCING
<br />STATEMENT is made this 28th day of February , 1986 , by
<br />T & E Cattle Company ( "Mortgagor ") whose address is
<br />4444'West 13th Street, Grand Island, Nebraska 68801
<br />to Texas American Hank Fort Worth, N.A., a national banking asso;
<br />ciation (hereinafter "Bank "), whose address is 500 Thcockmorton,
<br />Fort Worth, Texas 76102.
<br />Mortgagor hereby mortgages and conveys to Bank the
<br />following described property situated in the County of stall ,
<br />State of Nebraska (the "State").
<br />See Exhibit A attached to and by this reference made a part
<br />of this Mortgage
<br />Together with: (a) all improvements now or at any time hereafter
<br />thereon, and privileges, appurtenances, fixtures, rents, issues,
<br />and profits relating thereto; (b) water, ditch, and reservoir
<br />rights or stock, however evidenced, appertaining to or used in
<br />connection with the property; (c) any interest now owned or
<br />hereafter acquired by Mortgagor in any road, street, or avenue
<br />(opened or proposed), in front of or adjoining the property or in
<br />and to any sidewalks, alleys, and strips and gores of land adja-
<br />cent to or used in connection with the property (d) all right,
<br />title, and interest of Mortgagor in and to all machinery, appara-
<br />tus, equipment, fittings, and fixtures of every kind and nature
<br />whatsoever, all furniture, furnishings, and other personal pro-
<br />perty now or at any time hereafter attached to or used in any way
<br />in connection with the use, operation, and occupation of any
<br />buildings or improvements located on the property (the above -
<br />described property, appurtenances, and privileges are sub-
<br />sequently referred to as the "Property "). Mortgagor warrants the
<br />title to the Property except for those items listed on Exhibit B
<br />attached to and by this reference made a part of this Mortgage.
<br />This Mortgage is for the purpose of securing the payment of o_ ,hree
<br />missory notes(the "Note ") of even date herewith in the ncii 'pal combined
<br />amount of $8 ' 750,(00.00, made by _T & E cattle Company
<br />and payable to the order of Bank as provided in the Note, with
<br />all unpaid principal and unpaid accrued interest due and payable
<br />on February 28 1987 , and all obligations created under any
<br />renewals, extens ons, and amendments to or substitutions for the
<br />Note, or any other instrument executed in connection with or pur-
<br />suant to the Note (subsequently referred to collectively as the
<br />"Obligation "). This Mortgage secures present and future advances
<br />made by Bank to or for the benefit of the Mortgage relating to
<br />all such future advances shall relate back to the date of this
<br />Mortgage.
<br />THE MORTGAGOR COVENANTS AND AGREES AS FOLLOWS:
<br />1, Mortgagor will promptly pay the Obligation evi-
<br />denced by the Note in accordance with its terms and perform each
<br />and every agreement and condition contained in the Note and this
<br />Mortgage, or in any other instrument which may be executed in
<br />connection with such documents.
<br />2. Mortgagor will pay immediately when due and payable
<br />all taxes, special assessments, water and sewer rents or
<br />assessments, and all other charges imposed by law upon or against
<br />the Property, and to deliver to Bank, upon demand, receipts or
<br />other evidence of such payments.
<br />3. This Mortgage is subject
<br />'c The Prudexttia.l lnsurar.rEr
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<br />ae �;mv ica
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<br />a, i)ecument
<br />(the •its grew that: The Mortgagor represents,_ warrants,
<br />covenants, and agrees that:
<br />and subordinate to , mv,r ,a,ize
<br />in ti;�` 7 00,56o.no,
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