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79001055
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79001055
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Last modified
1/12/2010 7:30:00 PM
Creation date
1/12/2010 7:29:53 PM
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DEEDS
Inst Number
79001055
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<br /> <br />co:=errant that said Narty of Lhe Pir€t °Yrt is lawfully seized of <br />said pre«ise=; that svid nremisps are free from encumbrance, and <br />that said Party of the rust Part will warrant and defend. the <br />title to said premises against the lawful claims and demands of all <br />persons whamsaeVer. <br />PRvv'iDED AL~?AyS, in these presents or upon these conditionsc <br />wIiEREAS, this grant is intended as a mortgage to additionally <br />secure the payment of all amounts due or to become due under that <br />certain Master Lease Acreement for the erection of four Behlen <br />steel buildings a~ the above described property and subsequent lease <br />agreements entered into by and. between 4-?~'! AGRTCBLTUP.AL ASSOCIATE, <br />IIvC., (hereinafter "Lessee") and the Party of the Second Part being <br />the Lessor thereunder; a copy of said Master Lease Agreement being <br />attached hereto, by this reference made. a part liereaf, and ffiarked <br />Exhibit "A"; the total amount secured hereby is tale gross receiv- <br />ables due and to becaz!~>_ due under the terms of that DSaster-Lease <br />Agreement and subsequent schedules executed between IFG Leasing Coin- <br />parry, '`Lessor", and 4-M Agricultural Associates, Inc., and its <br />stockholders, Gary Mettenbrink, John A4ettenbrink,T~y?~ Mettenbrink <br />and Carol Mettenbrink, "Lessee". <br />NOW, if said Lessee shall well and truly pay or cause to be <br />paid the said sum of money due to the said Party of the flet:ond Part <br />according to the tenor and effect of that Master Lease Agreement <br />secured hereby, and shall duly keep and Perform a21 the other cov- <br />enants and agreements herein contained, then these presents to be <br />null and void, <br />But if the Lessee fails to pay the rental a*n*nounts or other off- <br />iigatians as the same became due. or 3f said Party o~ the First P-art, <br />beinca the Lessee, shall fail to keep and perform any covenants <br />herein contained, the holder-hereof shall have the option to declare <br />t_he-whole of said. indebtedness due and payable at any time-after such <br />failure or default., and may maintain an action, in law or equity- to <br />- - reCtlVer t'ne Same , ana u E Ca^1T['~nCement -o-~ Stlcil -met iCi3~- $~z~.:i :- V tixc -- - -°- - <br />aazly nat?ce of the exercise of said option regeired. <br />And it is further provided and agreed t`:at the said i+#artgagor <br />shall. gay when due all real estate taxes, and personal property <br />taxes, if any, and will pay all taxes levied upon this Mortgage and <br />the debt securer'x thereby, together with any other taxes or assess- <br />ments which shall be levied under the laws of Nebraska, against <br />said Mortgagee ar the legal holder of tine aforesaid taster Lease <br />Agreement, on account of this indebtedness. <br />IN TESTIMpiTY t^IEiE?~EOF, the Party of the First Part has caused <br />this Mortgage to be executed the day and year first above written. <br />4-t? ACRIC.tyTU?.AL AS~OCZA'L'ES, 2*IC. <br />By ~~~ ,cif ~ .af'~ <br />I~Es Press er<t <br />°2- <br />
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