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<br />
<br />THE FEDERAL LAND BANK OF OMAHA, a Corporation;
<br />of Omaha, Douglas County, Nebraska, whose address
<br />is Farm Credit Building, Omaha, Nebraska
<br />
<br />
<br />Date
<br />
<br />October
<br />
<br />REAL ESTATE MORTGAGE
<br />
<br />FORM
<br />
<br />84._005517
<br />
<br />Margaret R. Kennedy and William T. Kennedy, wife and husband
<br />
<br />or Ivlerrick COlillty.
<br />the advance of the prlnclpal sum recUed In the note herelnafter
<br />mortgage and convey to
<br />
<br />Mortgagee (subJect to 011, gas, and
<br />record; reservations in Un! ted States
<br />
<br />descrlbed real estate In
<br />
<br />Hall
<br />
<br />S~SW~ - - - - - - - - ~ ~'- - - ~ - ~ - - - - _ _ _ _ _ _ _
<br />
<br />(5) That. \n the event the Mortgagors faU t,o ~'~.Y when (hi~
<br />M:alnta\n 1l"lg\.!raw~8 f~~ ht.'TE'l!lber')p~ :wc\vl,jl.:t1. ',",!!' fut 1 ~_,~~
<br />~i?mlt. Ucense, 0!' ~rlvUege: or' Nt1!'t~aget) ~:; f'f'i4\llt"e,.1
<br />f'XtH~nses. a.nJ.iJther eharges in ,,"GWltt\'t1on with l1t.1g,!ltrl~';n.
<br />Of' Im:u:r sll-C'h ot>l\gath.).rl, ftnd the 'l.'Tio'..:nts pald. tbtH"<?f(l!
<br />~(\J~i';;~{:. tmmel.11ately. nnd Shall bear interest from {,he
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<br />containing fiO acres. more or less. together with all of tJ1e right, title" a..1d Intere-st
<br />{now owned or hereafter acquired) of the r!ortgagors in said property, including all buIldings. Improvements, fixtures,
<br />or eppu:-tenances :herean aI" hereafter 1=',l'iced ':hereon: ~ll 'Nater. lrrlgat1on. and drainage rIghts; t.he _ tenement.$:.'
<br />heredlt::unents. alld appurtenances theret.o-and the rents, issues, crops. and profits arising from sald lands; and (-it
<br />the Mortgagors! rights in t..i.e publ1c domain are requ1red by Mortgagee for security purposes) all_lease-s, perm1.ts,:
<br />11 censes. or prl vi leges . appurtena.'1 t or r1cnappurtena..'1 t to said mortgaged preml ses, now or hereafter 1 ssued t- extended,
<br />or renewed t.o the Mortgagors by the UnIted Stat.es or the st.ate in which the above-descrIbed property Is lOGated-or_
<br />any department, bureau, or agenC'y t:1.ereof.
<br />
<br />rnts mortgage is given to securE' a promissory note or even date fie-rewltl1, executed by t-lortgagor-s to Mortgago.e, in
<br />
<br />
<br />the principal sum of FIFTY-FOUR THOUSAND EIGHT HUNDRED AND NO/IOO - - - - - - - - - DOLLARS,
<br />payable with interest 1.ct~ordlng to the terms or salti note, the final payment being due and payable on the first day
<br />
<br />of January, 1995 ThIs conveyance- shall be voId upon th~ pa.yment of said promissory note.
<br />
<br />Thls ",ort,gage Is subject t.o the provISions of THE FARM CREDIT ACT and all acts amendator,y thereof or supplemental
<br />thereto, The proceeas of the loan secureu hereny will be used ior Lhe purposes specified In the I1ortgagors' appli-
<br />cation for said loan and authorIzed by saId Act.
<br />
<br />~~il Mg~i~~o~~e ~~l~a~~a~~s~h;~i ~~~~~an~~~:~s~~~~r:h%d~~afte':sa~T~~p~~t~helSmofrt~eagi~:e:A P~gg:-;l.;,,;~: ;[;:l
<br />
<br />they will keep all the improvements, fixtures, and appurtenances occupled and ln good repa1r and permit no acts of
<br />waste: and they Wl11 rellnquls11 all rlghts or homestead In sald premlses. and covenant and agree wi th the Mortgagee.
<br />as follows:
<br />
<br />(1) That they wlll pay when due .:ill taxes, lIens, Judgments, or assessments Whlch may be lawfully assessed against
<br />t.lle ~roperty heretn mortgaged.
<br />
<br />(2) That they ~111 Insure and keep insured buildlngs or other improvements now on or which may hereafter be- placed
<br />on saId premises to the satisfaction of the- Mortgagee. such Insurance pollcy shall be endorsed wIth a mortgage elause
<br />with the loss thereunder to be payable to the M.or~,gagee. ADJ.' sums recelved may be used to pay for reconstructl-on
<br />of the destroyed improvements: or. if not so applied, may. at the opt-IOIl of the Mortgagee. be appl1etj in payment of
<br />eJl...V Indebtedness, matured or unmature(j. secured by thl;:3 r.c-rtgage. .
<br />
<br />~ 3) To p-sj' !!;ll rents. tees. or ch2rges now due 0. to become c!Llt." tmder the terms or each lease, perrott.. lleense. or
<br />prlvllege on t.he publIc domain whIch is a.PDurt,enant or n':lnappurlJ?nant to the mortgaged premIses, wltleli tHiS heen
<br />lssued. extended. or renewed by the united states or t.he state In WhiCh the above-descrIbed property 1s located; and
<br />to perform and. observe every act, covenant, condition, and st1pula.t1on necessary to keep each of the same 1n :-\ood
<br />standing; ~..nd to take every necessary step t.o secure tlle reIssue. renewal. (It' extensIon of e-!lch ot" the same; and to
<br />aSSign, waIve. pledge. or endorse to the Mortgagee eaC'h l€:'i~>8:. pt'rmlt" l1cense. or rr\vl1ege If nOl'r.gagoI'sl rIghts
<br />1n pUblic domaIn ~re requIred by Mort.~agee f,)!' se-curl ty rUn}Ga.B~~.
<br />
<br />(4) That In the eV-6Iit ttH9 ~iortgagee 1s 5. pa!'l.)' tv n.llY lltig,'!.(.!ll!1 arred.lng tilt' .securIty (Jr' the Uen of It:~ i1lort~
<br />~e.gf}. Including any suIt by the Mortgagee to foreclose t.his mort~age or ~\!1Y Su':"!:. In WhIch the M'.H't.gagee nRlY be !laJllth1
<br />a party uitrauda.nt 1n which it 1s obllgat.e-rt t.o protect. its rIghts llon. tncludlrtg C(ln:.:iemnatlon and bankrupt.cy.'
<br />pl"r.lCeedlngs. the Mortgagee may incur expenses. mId ?l,jV(UICe pa,",rment. abstract ;"e-\?~). 'It.~;urm~y fOt'S (t.'xeep:.. to nifl
<br />extent prohlb1t.ed by law), costs, expenses, 'i.I;~1 Gthe-r char'g~~~+
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