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<br />PeA 73 - 11
<br />(1-13)
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<br />REAL ESTATE MORTGAGE
<br />NEBRASKA
<br />
<br />83-" tJ 3471
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<br />{Open-End: To Secure Present and Future Obligations and Advancesl
<br />June 21, 1983
<br />Date
<br />
<br />M~ Rauert, Jr.
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<br />. Mortgagor Is}.
<br />
<br />HCl,ll Nebraska
<br />of County, . in
<br />consideration of the advance .of the principal sum recited in the note hereinafter described and in consideration of future
<br />lidvailoeS'tnade bvmortqageQ: tom ny of them as hereinafter provided; hereby mortgages and conveys to:
<br />'. Gom:mei'C1:.aL N T ~ '"
<br />wWbse principal office is at r t. , Grand Island . Nebraska. Mortgagee.
<br />the: following described real property in HaLL ____ County. Nebraska.
<br />subject to oil, gas. and min9{al rights owned by parties other than Mortgagor(s): existing easements of record;
<br />reservations in United States and State patents; and the rights of the public in all highways:
<br />
<br />North Half (N!:i) Northwest Quarter (NW!;,) 17-12-9 and North Half (N1;<)
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<br />Southwest Quarter (SW~), Northwest Quarter (~w~) 17-12-9 and 7.60 A. located
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<br />in South Half (S~) Southwest Quarter (SWloi) Southwest Quarter (5W>;,) 8-12-9
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<br />Hall County, Nebraska, more particularly described as Lot 1, Rauert Subdivision.
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<br />containing 107.6 acres, more or less, according to Government survey; together with all of the right, title, and
<br />interest of the Mortgagor{s) in said property now owned. or hereafter acquired, and including all buildings and
<br />improvements now on, or hereafter placed upon. said real property; including also all water, irrigation, and drainage
<br />rights,
<br />
<br />This mortgagEI is given to secure:
<br />
<br />. . 3-29-83 and 6-21-83 .
<br />(a) A promIssory note datg~ . ~~__' . gIVen by Mortgagor(s) to Mortgagee.
<br />in the principal sum of _ '0 r 000.00. and .11.::L.QQQ_'-Q.Q....____._...:____,_ DOLLARS.
<br />payablewithinte.rest according to the terms of said note and any instruments taken in refinancing, extending. or
<br />renewing said indebtedness or any part thereof;
<br />(b) Any future advance's). with interest. which may be made from time to time by Mortgagee. at its option, to
<br />Mort.gagor!s), or any of them or their successors. in title. for any purpose in any amount or amounts, provided,
<br />however. that such future and additional advancej!)s,tlall be 58 limited that the total principal amounts outstanding
<br />at anyone time shall not exceed the sum of ~3J L.OOQ-,-_CL~_____..__.______ DOLLARS.
<br />and provided further the future advancers) so made shall be payable in accordance with the terms of a promissory
<br />note ornoteswhich may be taken to. evidence such advancers) or any part thereof.(The optional advance(sl herein
<br />authorized shall be considered additional to the advancers) hereinafter authorized to be made by the Mortgagee for
<br />the protectkmof.,the,,$8CUritv.or.Mortgagee's interest therein.)
<br />
<br />
<br />': --",',>n,,":U "'('<".',' .,,' ,t.:::
<br />This mortg4IQ, tc:l biityoltflJpo:n. the. jJs,yment in full with interest of any obligations. presll'nt or future, secured or to be
<br />secured h.~8bv.,. . :"'0\' ,'- .''''''.0..', i~... '.
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<br />The Mortgagor{s), and each of them, hereby warrant(s) that they are fee owners of the mortgaged real property; that
<br />they will defend the title against all claimants whomsoever; and they relinquish all rights of homestead in said premises,
<br />end covenant and agree with the Mortgagee as follows:
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<br />(11 To pay when due all taxes, liens, judgments, or assessments which may be lawfully assessed against the property
<br />herein mortgaged, lInd the rental charges tlP~n any leases assigned as additional security for this mortgage.
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<br />(2) To insure Bnd keep insured buildings and other improvements now on or which may hereafter be placed on said
<br />premises to the satisfaction of the Mortgagee. Any policy evidencing such insurance shall be endorsed with a mortgage
<br />clause. approved by and in favor of Mortgagee. and deposited with, loss thereunder to be payable to, Mortgagee as its
<br />interest ma.y aPpfl;ar. At the option of Mortgagor(s). and subject to general regulations of the Farm Credit
<br />Administration, sums so received by Mortgagee may be used to pay for reconstruction of the destroyed improvement(s);
<br />U.o~pp1ied.l'Tlay, attlle option of Mortgagee. be applied in payment of any indebtedness. matured or unmatured.
<br />ct:~i:this mortgage. .
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<br />buildings occupied and in good repair, and to refrain from the commission of any acts of removal,
<br />pajtwent thereof; not to cut or remove, or permit to be cut or removed, any wood or timber from said
<br />nd to commit or permit no waste or impairment of the value of this security; to continuously practice
<br />. . farming on .saidlands, to prevent erosion and the spread of noxious and damaging weeds, and to
<br />of the soil.
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<br />event risl faills) to pay when due any taxes, rental charges upon any leases.assigned as
<br />gage, liens, judgments. or assessments lawfully assessed against the property heroin
<br />(.) mamtaln insurance as hereinbefore provided, Mortgagee may make such payment or provide
<br />the. amount(5) paid therefor shall become a part 01 the indebtedness secured hereby, due and
<br />; .and shall bear interest althe cuneot rate of the Mortgillgee at the time the Mortgagee makes such
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<br />(sl in the payment of said principa! sum. or in the rltpaymel1t of anv a-dditional
<br />anvlnter~st thereon. at the time when the same shall be au.... or with respect to
<br />at the option of Mortgagee. the entire indebtedness secured hereby shall ~
<br />rut at the current rate ofthe Mortgagee on the date 01 the dllf..uit, and "
<br />ortgage or pUr$f.lIHmy other available le\lal r01medy. In the event olallY
<br />. .of the mortg.iJ2: debt. the Mortgagor(sl ~greei$l that llny expens!.! in(;\Jrreu to U
<br />bstraet o! titl" shan, wheflpaid by I Oftgll9,efG. becom-: 1I part of the debt secured hereby, nntl shall p
<br />np"tUlllj togat..or with ell of w tlilllllb It (;041$ 0 Il4lch action. I
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