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<br />83 B2
<br />.~.UQ1U.,..
<br />PCA 73 . 10
<br />(Rev. 11.80)
<br />
<br />REAL ESTATE MORTGAGE
<br />NEBRASKA ----...--
<br />
<br />(Open-End: To Secu,e Presenl and Future Obllgallons and Advances)
<br />
<br />DRte
<br />
<br />/4arch 4,1983
<br />
<br />Elton W. and Virqinia A. Luebs. Husband and Wife
<br />
<br />01 Ha 11 Counly, Nebras ka , in
<br />
<br />conside,ation 01 the advance ollhe principat sum, plus advances lor the purchase 01 Class B stock andlo, participation
<br />certl/lcates 01 Ihe Mortgagee as ,equlred by Mortgagee's bylaws and by delermlnatlon by Ihe Mortgagee's Board 01
<br />Directors under said bylaws, pursu..nllo lederall..w,' to support Ihe oulstandlng indebledness, reclled In the note here-
<br />inalter described and In conslde,atlon ollutu'e advance. made by Mortga~AYJrfor~9~'(!s) or any 01 them as hereln-
<br />alter provided, hereby mortgages and conveys 10 ' r Production
<br />Credit AssociatIon, whose principal ollice is at hrand Is 1 and , NebRlska,
<br />Mortgagee, Ihe lollowlng-described real property in Ha 11 Cpunty, Nebraska, sub/eet to oil,
<br />g88, and mineraI rights owned by parttes othe, than Mortgago,(s); existing easements ui record; ,eservatlons In Untted
<br />States and State patents:. and the rights 01 the pUblic In all highways:
<br />
<br />Lots One (1) and Two (2), Section Two (2), Township Nine (Q) North, Ranoe Eleven (11)
<br />West, Hall County, Nebraska, containinq 42 acres and the West Half of the Northwest
<br />Quarter (W~NW~) of Section Thirty Six (36), Township Ten (10) North, Ranqe Eleven (11)
<br />West of the 6th P,M" Hall County, Nebraska, Exceptinq therefrom a certain tract of
<br />land deeded to the State of Nebraska in Book 135, Paoe 511
<br />
<br />conlalnlng 106.30 acres, more or less, according to Government suntey: together with all ollhe ,ight, tille, and
<br />interesl ollhe Mortgagor(.) in said property now nwned, or hereafter acqui,ed, and including all bulldtngs and improve-
<br />menls now on, or hereafter placed upon. said real property: including also all waler. irrigation, and d,alnage rights.
<br />
<br />Thl. mortgage I. given to secure:
<br />
<br />(a) A promissory note dated March IF 1983 , given by Mortll'!9.or(s) 10 Mortgagee, in the
<br />principal sum 01 Two Hundred Twenty i Vf' Tholl,and and Nnl1f10-- ~n~ .000 01)--- DOLLARS,
<br />plus advances lor the purchase ot CI.... B .tock or participation c..rtillcales ollhe Mortgagee as ,equI,ed by Mort-
<br />gagee'~ I>ylaws and by determination by Ihe Mortgagees Board of Dlreclors under .aid bylaws, pursuanlto tederal
<br />law, to supportth.. outstanding Indebl..dness, payable wtlh interest according 10 the terms 01 said note and any Instru-
<br />ments laken in relinancing, extending, or renewing said Indebtednes. or any part thereot;
<br />(b) Any luture advance(s), with Inlerest, which may be made Irom time 10 lime by Mortgagee, at its option, to Mort.
<br />g.gor(s), or any 01 them or Iheir .uccessors In lille, for any purpo..., Inciuding, but nOlllmiled 10, Initial and lutu,e
<br />advances tor the purchase of Class B stock andior participation certificates ot the Mortgagee as required by Mort~
<br />gagee's bylaws .nd by determin.llon by the Mortgagee'. Boa,d of Director. under said bylaws, pu,suanllo lederal
<br />law, to .upport the oulslanding in<lebtltdnes., in any amount or amounts, provided, ho_ve" Ihat .uch tuture and
<br />addlllonat adollce(s) shall be sq,.limlted th,t Ihe 1011'1 p.1'lcipal a"!O. IJ.\lIt'lO'l.tI. tllndi{lg alsny one time shall nol exceed
<br />the sum 01 ~ we Hundred I housanrt ang NOI J.yO----, )~nu .Iinn. i)\li------ ___u___ DOLLARS,
<br />plus said advance. lor purcha.e of CIa.. B slock or participallon certificate. of the Mortgagee; and provided lurther
<br />Ihe future advance(.) so made shall be payable in accordance wllh Ihe h.rm. 01 a promissory note or nole. which may
<br />be I....n 10 evidence .uch advance(s) or any part Iher",,!. (The optlonai advance(s) herein authorized shall be con-
<br />sidered _itlonal to lhe advancel.) hereln.lter aulhonzed 10 be made by the Mortgag.... 10' Ihe protection of the
<br />securtty or Mortgagee's inle.....t the~n,)
<br />
<br />ThIs mortgage to be void upon the paymenl in lull with inle.....1 of all oblig.tlons. pr.....nt or IUlu,e, secu,1td or 10 be
<br />.ecured he,.by,
<br />
<br />The Mortgagor(s), and each of them, hereby warranlls, thallhey are te.. owner. ot Ihe mortgaged real property; thaI
<br />they will a..tend the title against all claImants whom.oever, and Ihalsald properly is tree trom all encumbrance.; and they
<br />relinquish all rights of nomealead 10 saId premises, and covenant and ag'''' wtlh the Morlgagee a. tollows:
<br />
<br />(1) To pay when due all18les, liens, ludgments, or assessment. v,hlch "'ay be lawtully assessed agalnslthe property
<br />hefeln ...ortgaged. and the Atnlal charges upon any leases "Signed a. addltion.l .ecurtly tor thl. mortgage.
<br />
<br />(2) To Inaur. and keep insu'ed bUildings and olher unprovemenls now on or which may herealler be placed on said
<br />preml..s 10 the satlstactlon ollhe Morlg.gee, Any policy ..vldenclng such In.urance shall be endor.ed with a mortgage
<br />clavae. approved by and In lavor 01 Mortgagee, and depoSIted wllh, loss thereunder to be payabfe 10. Mortgagee a. its
<br />Ints,.at may appear, At the option 01 Morlg.gort.), and subjeclto generaf regul.llons ot the Farm Credtl Adminislration,
<br />sums so received by Mortgagee may be used to pay for reconslructlon ollhe destroyed improvement(s); or, if not .0
<br />applied, ....y. allhe option 01 Mortgagee, be applied in payment 01 any Indebledne.., malured or unmatured, secured
<br />by this mortgaga,
<br />
<br />(3) To keep atl buildings OCCUPIed and In good repall, and to relr.m from Ihe commISSIon of any acls of removal, demo.
<br />lition -Of tmpIhrment thereof: not to cut Of remove. or permit to be cut or removed. any wood or timber trom said real
<br />property~ and to commit Or permit no wast& or !mpajrme-nt ot the ...alue oi this security; to continuously prachce
<br />applOftG methods of la'mlng on said lands, to pro.venl .,rO.lon and the spr..ad 01 noxIOus and damaging weeds, and to
<br />_ 1M lertlllty 01 the soil.
<br />
<br />("} Thill In 1M ..venl Mortllago,..) tailts) 10 pay wh..n due any taxes, renlal charges upon any leases aSSigned as addl.
<br />tlONIl _ity to, Ihts mortgaga, lien., judlJments. or a....ssment. IlIwtullY as...ssed agalnsl the properly herein 100'1-
<br />~ or lailla) to maintain insurance as hereinbetore provflled, Mortgagee may make such paymenl or prOVIde such
<br />lnsw1lI>ce. and 1M _tIs) paid Ih..elor shall I>eeollllt a pari of lhe md..bladness .ecured he,..by. due and payabfe
<br />I~. and shall.*'"' _.st all". current rat.. ot the Mortgagee at Ih" lime Ih.. Morlgagore maktts such paymenl,
<br />
<br />Ii) Thelin 1M ~ Moftgagor{.) ""lauIqs) In !h. paym..nt ol..Id prlnctpe! sum, Dr m the 'epayment ot any addition.1
<br />~.l""" __ provtchO. or ot any .n.....lthe'eon, alth.. tI..... when Ih.. ....... shell be due, or wilh respecl
<br />io any ~ or COIICIItIon __I, then, at u.. option 01 Morf9agBlt, Ihe enhr.. In<lebtltdneu aecured hereby shall
<br />100000lth __ _ and p,Q.... shatt bear Inler..t althe current rale of the Mortgagee on Ihe dale of fhe defaull.
<br />and the ~. _, Immedlatltty 100000000H IIUs mortgage 0' pursue any other availabl.. legal ...medy. In Ih.. .....nt
<br />ot any _lion lly Mort,.... 10 enlorce collection 01 thlt mo,Ill"lI" """I. the Mo'tgagorts) .gree(.) thaI any exp..n..
<br />-"'10 procut<t 0< ..timCI M ....tleet 01 htllt ahall, when pa.d by Morlg.gee. t..co..... II part 01 th.. debt secured hereby,
<br />and stIIIIl blt ...... I:ty ~ts) topthe. wilh "'f 01 the .....bIe co.ls of .uch action.
<br />
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<br /> tt.,_....,Q
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