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<br />peA 73 - 10
<br />_,,_i'i~~..!.:!:~~L_c __
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<br />_._B!;.AL _E.S-I A n:_M.QBTGAG.E._.
<br />NEBRASKA
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<br />84.--
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<br />004741
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<br />(Open-End: To Secure Present and Future Obligations and Advances)
<br />DMe Auqust 22, 1984
<br />
<br />Orville Hulme and Erna Hulme, Husband and Wife
<br />
<br />, Mortgagor(s),
<br />
<br />of H;,ll County, Nf'hril~ka ,in
<br />consideration at the advance of the principal sum, plus advances for the purchase of Class B stock and/or participation
<br />certificates of the Mortgagee as required by Mortgagee's bylaws and by determination by the Mortgagee's Board of
<br />Directors under said bylaws, pursuant to federal law, .. to support the outstanding indebtedness, recited in the note here~
<br />inafter described and in consideration of future advances made by MPrtfhaaej t~ Moggagor(s) or any of them as herein~
<br />after provided, hereby mortgages and conveys to lira s an Production
<br />Credit Association, whose principal office is at hrrtnrl lc::;,lAnrl ,Nebraska,
<br />Mortgagee, the following-described real property in W311 Cpunty, Nebreska, subject to oil,
<br />gas, and mineral rights owned by parties other than Mortgagor(s); existing easements of record; reservations in United
<br />States and State patents; and the rights of the public in all highways:
<br />
<br />
<br />Undivided one-half interest in the South Half (St) of Section Eleven (11),
<br />Township Twelve (12) North, Range Twelve (12) West of the 6th P.M, in
<br />Hall County, Nebraska
<br />
<br />containing 1 fiO acres, more or less, according to Government S' ,"~ey; together with all of the right, title, and
<br />interest of the Mortgagor(s) in said property now owned, or hereatter a~qt'" . .~, and including all buildings and improve-
<br />ments now on. or hereafter placed upon. said rea: property; inci 19 c..L;iQ all water, irrigation, and drainage rights.
<br />
<br />This mortgage is given to secure:
<br />
<br />(a) A promissory note dated AIlQllst ?? ] 984 ,gIven b)! Mortgagor(s) to Mortgagee, in the
<br />principal sum of FQrt~' 11>10 Thnq<;:anrl ~i\JP ...i1mrtrprt .::Inn Nn/lt1II-----------------DOLLARS,
<br />plus advances for the purchase of Class B slock or participation certificates of'lhe 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 wilh interest according to the terms of 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 from lime to time by Mortgagee, at its option, to Mort-
<br />gagor{s), or any of them or their successors in title, for any purpose, including, but not limited to, initial and future
<br />advances for the purchase of Class B stock andior participation certificates of Ihe 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 />Jaw, to support the outstanding indebtedness, in any amount or amounts, provided, however, that such future and
<br />additional advance(s) shall be so limited that the total prinCipal amounts outstanding at anyone time shall not exceed
<br />the sum of J:'nrty Twn Thnll<:;::lnrl Fi UP Hllnrfrprl ~nrl No /100---------------------00llARS,
<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 addilionalto the advance(s) hereinafter authorized to be made by the Mortgagee for the protection of the
<br />security or Mortgagee's interest therein.)
<br />
<br />This mortgage to be void upon the payment in full with interest of all obligations, present or future, secured or to be
<br />secured hereby.
<br />
<br />The Mortgagor(s), and each otthem, hereby warrant(s) that they are lee owners of the mortgaged real property; that
<br />they will defend the title against all claimants whomsoever. and that said property is free from all encumbrances; and they
<br />relinquish all rights of homestead in said premises. and covenant and agree with the Mortgagee as follows:
<br />
<br />(1) To pay when due all taxes, liens, judgments, or assessments which may be lawfully assessed against the property
<br />herein mortgaged, and the rental charges upon any leases assigned as additional security for this mortgage.
<br />
<br />(2) To insure and keep ,nsured 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 may appear. At the option of Mortgagor(s), and subject to general regulations of the Farm Credit Administration.
<br />sums so received by Mortgagee may be used to pay for reconstruction of the destroyed improvement(s); or. if not so
<br />applied, may, at the option of Mortgagee, be applied in payment of any indebtedness, matured or unmatured, secured
<br />by this mortgage,
<br />
<br />(3) To keep all buildings occupied and in good repair. and to refrain from the commission of any acts of removal, demo-
<br />lition or impairment thereof; not to cut or remove. or permit to be cut or removed, any wood or timber from said real
<br />property, and to commit or permit no waste or impairment of the value 0' this security; to continuously practice
<br />approved methods of farming on said lands, to prevent erosion and the spread of noxious and damaging weeds. and 10
<br />preserve the fertility of the soil.
<br />
<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 />tional security for this mortgage, liens, judgments, or assessments lawfully assessed against the property herein mort.
<br />gaged, or fail(s) to maintain insurance as hereinbefore provided. Mortgagee may make such payment or provide such
<br />insurance, and the amount(s) paid therefor shall become a part of the indebtedness secured hereby, due and payable
<br />immediately, and shall bear interest at the current rate of thP.' Mortgagee at the time the Mortgagee makes such payment.
<br />
<br />(5) That in the event Mortgagor(s) default(s) in the payment of said principal sum, or in the repayment of any additional
<br />advance(s) made as herein provided. or of any interest thereon. at the lime when the same shall be due, or with respect
<br />to any covenant or condition hereof, then. at the option of Mortgagee. the entire indebtedness secured hereby shall
<br />.forthwith become due and payable, shall bear interest at the C:Jrrent rate of the Mortgagee on the (iate of the de'ault,
<br />and the Mortgagee may immediately foreclose this mortgage or pursue any other available legal remedy. In the event
<br />of any aclion by Mortgagee to enforce colleclion of the mortgage debt, the Mortgagor(s) agree(s) that any expense
<br />incurred to procure or extend an abstract of title shall, when paid by Mortgagee, become a part of the debt secured hereby.
<br />and shall be paid by Mortgagor(s) together with all of the taxable costs of such aclion.
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<br />'R"ferenc(' 10 advances 10' pl.lrch/l$1;! o! Clil5~ B sloe\;, and o. parl'<;,paf'on cerl'hcat.,." "I MOrlgdgl:'" reQUlrr:d by MOHg,l9ct' $ byl......$ and by <h'le'nHflill'on by MO'19a9"1;)
<br /> 5 130,"d
<br />01 DlflH;lofS ....nder sil,d bylaws. purs....ant to ledt:r,)JI<,w_ a~ "$~tl In thiS Morfg,,~JC, "'~""s all ..d.ance$ 10' j.>l""t,,~S" 01 1'.10.19"9..... s CI,l$~ fl ~1"cJ., and Or P'''l'C'p''IIOn
<br /> Cerlll'C"l"s
<br />rllq....lfed by Sechon 2.1J{I} 0' the farm Cr"d,1 ACl 011971_ <Is am"nd~'d. lPubl'c law 92-181j. as prov'dC'll '11 MorIHdq,.,. s byl"l'is ilnd "ISO 10' lht> ",,,,,,h.1'" 01 .'dO.Io<.,,,,,,
<br /> CI'b$ 0 ~'o<.~
<br />Clnd;o, p,HIll:;'pal1on Ctl.hhcnles oj fhE' Morlgag<lt;.' aUlhortlfld b~ SedHm " 13th) 0' ~,,!tI F,..." C'~<l,l Act 01 1'l11, 'IS .""el\d('(l, ,,~ P,()vldl'd ,11 M"'19"~"'" t!yldW$
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