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<br />REAL ESTATE MORTGAGE
<br />-NEBRASKA
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<br />83':'" 004457
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<br />(Open-End: To Secure Present and Future Obligations and Advances)
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<br />Date
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<br />Auqust 16, 1983
<br />
<br />C. FennetSwanson and Carol E. Swanson, Husba~d and Wife
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<br />, Mortgagor(s),
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<br />01 Howard County. Nebraska , in
<br />consideration 01 the advance 01 the principal sum, plus advances lor the purchase 01 Class B stock and/or participation
<br />certlllcates 01 the Mortgagee as reqoired by Mortgagee's bylaws and by determination by the Mortgagee's Board 01
<br />Directors under said bylaws, pursoant to lederallaw,' to support the ootstandlng indebledness, recited In the note here-
<br />inafter described and in consideration 01 future advances made by Mortgagee to Mort.llagor(s>"or.,anY9Ithem as herein-
<br />after provided, hereby mortgages and conveys to urana 'Is lana Production
<br />Credit Assoclallon, whose principal office Is at hril nrl T ~ 1 il nrl , Nebraska,
<br />Mortgagee, the lollowlng-descrlbed real property in Hilll Cpunty, Neb'raska, subject to 011,
<br />gas, and minerai rights owned by parties other than Mortgagor(s); existing easements 01 record; reservations In United
<br />States and State patents; and the rights 01 the public in all highways:
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<br />The South Three Hundred Sixty (S 360) Acres of Section Three (3) and the Southeast
<br />Quarter (SE~) of Section Four (4) in Township Twelve (12) North, Range Twelve (12)
<br />West of the Sixth P.M. in Hall County, Nebraska
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<br />containing 570 acres, more' or less, according to Government survey; together with all of the right, titie, and
<br />interest 01 the Mortgagor(s) In said property now owned, or here alter acquired. and including all buildings and Improve-
<br />ments now on. or hereafter placed upon, said real propeny; including also all water, irrigation, and drainage rights.
<br />
<br />This mortgage is given to secure:
<br />
<br />(a) A promissory note dated AUrius t 16.;. 1983 . given by Mortgagor(s)to Mortgagee. in the
<br />principal sum 01 TWO HllNnRm TW TH()II<; Nn FnIlR HIINnRm THTRT..N ANn NO/lOO--- DOLLARS,
<br />plus advances lor the purchase of Class B stock or participation certificates of the Mortgagee as required by Mort-
<br />gagee's bylaws and by determination by the Mortgagee's Board of Directors under said bylaws. pursuant to federal
<br />law, to support the outstanding indebtedness. payable with interest according to the terms ot said note and any instru-
<br />ments taken in refinancing, extending, or renewing said indebtedness or any part thereof:
<br />(b) Any future advance(s). with interest. which may be made Irom time to time by Mortgagee. at Its option. to Mort-
<br />gagor(s), or any 01 them or their successors in tille. for any purpose. including. but not limited to. initial and future
<br />advances for the purchase 01 Class B stock andior participation certilicates 01 the Mortgagee as required by Mort-
<br />gagee's bylaws and by determination by the Mortgagee's Board of Directors under said bylaws. pursuant to federal
<br />law, to support the outstanding indebtedness. in any amount or amounts. provided. however, that such luture and
<br />additional advance s) shall be so limited that the total princillal amounts outstanding at anyone time shall not exceed
<br />the sum of ________________________nn__ DOLLARS.
<br />plus said advances for purchase of Class B stock or participation certificates of the Mortgagee: and provided further
<br />the future advance(s) so made shall be payable in accordance with the terms of a promissory note or notes which may
<br />be taken to evidence such advance(s) or any part thereof. (The optional advance(s) herein authorized shall be con-
<br />sidered additional fo the advance(s) hereinafter authorized to be made by the Mortgagee lor the protection 01 the
<br />security or Mortgagee's interest therein.)
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<br />This mortgage to be void upon the payment in full wllh interest ot all obligations, present or future. secured or to be
<br />secured hereby.
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<br />The Mortgagor(s), and each 01 them, hereby warrant(s) that they are lee owners 01 the mortgaged real property; that
<br />they will delend the title against all claimants whomsoever, and that said property is Iree trom all encumbrances: and they
<br />relinquish all rights 01 homestead in said premises. and covenant and agree with the Mortgagee as tollows:
<br />
<br />(1) To pay when due all taxes, liens, judgments. or assessments which may be lawlully assessed against Ihe property
<br />herein mortgaged, and the rental charges upon any leases assigned as additional security lor this mortgage.
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<br />(2) To iNure and keep insured buildings and other improvements now on or which may herealler be placed on said
<br />premises to the satistacllon of the Mortgagee. Any policy evidencing such insurance shall be endorsed with a mortgage
<br />clause, approved by and In tavor 01 Mortgagee, and deposited with, loss thereunder 10 be payable to. Mortgagee as lis
<br />interest may appear. At the option 01 Mortgagor(s), and subject to general reguiations 01 the Farm Credit Administration.
<br />sums so received by Mortgagee may be used to paylor reconstruction 01 the destroyed improvement(s): or, if not so
<br />applied, may, at the option ot Mortgagee. be applied in paymenl 01 any indebtedness. matured or unmatured, secured
<br />by this mortgage.
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<br />(3) To keep all buildings occupied and in good repair. and to refrain Irom Ihe commission of any acts 01 removal, demo-
<br />Illlon or impairment thereot; not to cut or remove, or permllto be cut or removed, any wood or limber Irom said real
<br />property, and to commit or permll no waste or impairment 01 the value of Ihis security: 10 continuously practice
<br />approved methods 01 farming on said lands, to prevent erosion and the spread 01 noxious and damaging weeds. and 10
<br />preserte the lertillty otthe soli.
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<br />(4) That in the event Mortgagor(s) fail(s)to pay when due any taxes, rental charges upon any leases assigned as addi-
<br />1I0nat security for this mortgage, liens, judgments. or assessments lawfully assessed againslthe property herein mort-
<br />lllIged. 01 lail(s) to maintal" insurance as hereinbelore provided, Mortgagee may make such payment or provide such
<br />in&W~e, ar)dt~ amount(.) paid therelor shall become a part 01 the indebledness secured hereby, due and payable
<br />Immedilltely. andshaU bear interest at the current rate 01 the Mortgagee at Ihe time the Mortgagee makes such payment.
<br />
<br />(5). Tl\at in lhe.event Mortgagor(s) delault(s) in the payment of said principal sum, or In the repayment of any addillonal
<br />advanpll(S)l!llcl, 8lI he...;n provided, or o/any interest thereon, at the lime when the same shall be due. or with respect
<br />t08flY co~tor col1dillonhereol, then, al the option ot Mortgagee, the entire indebledne$S secured hereby shall
<br />.lortbVl!itlt be<:ome due. andpayabte, shall bear int...rest at the current rate 01 ihe Mortgagee on the date 01 the delault.
<br />and .\he M~dg*,," may immediately foreclose .this mOrtgage or pUl'$ue any other available legal remedy. In Ihe event
<br />of any~~ by Mortgagee to enforce collection 01 the mortgage debt. the Mortgagor(s) agree(s) that any expense
<br />i~Ufre(f !1)llr~U:f..or .1It~nd.lInabstrllct pi tlUeshall, when paidby Morlgagee, become a part of the debt secured hereby.
<br />and .sl\aIl. be Plild by Morl~gor(s) t01l11lhlor with ail of the tuable cosll; 01 such acllon,
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