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~~~-PftUDINT7 .LO No...........7...~.Q~..~i~...........
<br />79.- ~.; ~.~ L:f
<br />Txis INnENTL*RE wrrNrssETx, that Ronald N. Spiehs and Jean Ann Spiehs, husband and wife
<br />of Nall County, Nebraska, herein rallal Sf C11tTC,AG(1 R. in consideration of $ 244,©44.44 in hand
<br />paid, does hereby grant, bargain, sell and convey to TIi P•, Yltl'I)f:NTIAL 1NSURANC E.COhtPASS 6P' AbT F.RICA, a corporation
<br />of the State of New Jersey, having its principal office in the City of NewarS:, Now Jersey, herein called MOI:TGAUEE, its sueoessore
<br />aad assigns fora-rer, the following d~nrit~l rct l e;w~ sites .ta: is *~ x+1¢
<br />Hai i County, Nebraska, to-wit:
<br />A tract of land comprising all of that part of the West Nalf (W-1/2) of Section 29,
<br />Township 14 North, Range 14 West of the 6th P.F7., Hall County, Nebraska, lying North
<br />of the Interstate Highway and more particularly described as follows:
<br />Beginning at the Northwest corner of said West Half (W-1/2) thence running East along
<br />,the North line of said W-T!2 a distance of 2,641.6 feet to the Northeast corner of
<br />said W-i/2; thence running South along the East line of said West-l/2 a distance of
<br />3,168.4 feet to a point on the Northerly right of way line of the Interstate Highway;
<br />thence running Southwesterly along said right of way line a distance of 2,819.6 feet
<br />to a point on the West line of said W-1/2; thence running North along the West line
<br />of said W-1/2 a distance of 4,122.47 feet to the pcint of beginning.
<br />Including all irr'.igatiiarl`xights, wells, pumps, equiplAent and accessories thereto.
<br />Containing in ail 221 acres, more or less.
<br />Together with and subject to easements of record and existing roads and highways.
<br />xo the with alt the appurLananees thereunto belonging or in say wise pertaining thereto. Mortgagor relinquishes akl rights of home-
<br />stead and sli other contingent interest in said premises. The conveyance of the premises shoes described together with all the rents,
<br />isanes aad profits thereof ie made t.o secure the repayment of a loan made by the Mortgagee to iha Triortgagar, ss evidenced bye promis-
<br />sory note of even date herewith in the principal sum of - - - - - - - - - - - - - - - - - - - - - - - -
<br />- - - - - - - - - - -Two Hundred Thousand and Nt)/144 - - - - - - - - - - - - - - - Dollars
<br />{$ 2QQ s{14tj, 04 ), executed by the Mortgagor and payable to the order of the Mortgagee, with interest at the rate
<br />therein set forth, the grincipsl and mteresi payable is accordaaca with the terms of said promissory Hole, and finally maturing on
<br />March 1 , f9 ~4 . All soma due shall bear intera4t ester the due date at the rata of I i~ per annum, and with a
<br />reaeoaable attorney's tee ~ may be determined by the Court.
<br />Mortgagor hereby expressly covenants sod agrees with Mortgagee, as follows:
<br />I. '_iortgagor is lawfully seized of as indefeasible estate in fee simple free from encumbrances and has good right and power to
<br />convey an abaoluty_ title, in fee simple, including all the rights of homestead, and will warrant and defend the title to the same against
<br />all la„rfut claims.
<br />2. To pay all sums hereby secured when due.
<br />3. To pay when due all taxes and assessments of erery type ar nature levied or assessed against said property, or open the Mort-
<br />gagee's interest therein; and also to pay any daim, lien or encumbrance against said property which may be or become prior and senior
<br />to the lien of this mortgage.
<br />4. To keep ail buildings an the mortgaged property insured against loss sod damage by fire, windstorm and other hazards, with such
<br />solven# insurance company or companies, and in such amounts, as are satisfactory with the Mortgagee, and with the ptoceedg of toss
<br />payable to the Mortgagee as its interest may appear. The policies of insurance, and abstracts and other e~zdence of title, shall be delivered
<br />to and held by the Mortgagee without liability, and upon foreclosure of thin mcrtgage, or acquisition of the real estate or any part thereof,
<br />in nay other manner, shall become the absolute property of the Mortgagee. The loss proceeds (less expenses of collection) shaft, at
<br />Mortgagee's optian, be applied to said indebtedness, whether due or noG, or to the restoration of the improvements, or all or any part
<br />thereof may be released by Mortgagee. In event of toredosure Mortgagor authorizes and empowers 1Viortga$ee to effect insurance upon
<br />the premises in the amounts aforesaid for a period covering the time of redemption from foredosttre sale, aad if necessary therefor to
<br />cancel any or aII existirsg insurance policies.
<br />b. Mortgagor (i) will not remove of demolish nor alter the design or structural character of any building now or hereafter erected
<br />upon the premises unless Mortgages shall frrat consent thereto in writing; (ii) will maintain the premises in good condition and repair;
<br />(iii) will not commit or suffer waste thereof; Tv} will not cut or remove nor softer the cutting or removal of any trees oz timber on the
<br />premises {ezcept for domestic purposes) without Mortgagee's written consent; fv) will comply with aR laws, ordinances, regulations,
<br />--. cavex>sats, conditiatsa and restrictions aHac#ing the-premises, and will-not suffer ar permit any violation thereof. _
<br />fl. In lha avast. Mortgagor tails to pay any oIsim, lien or encumbrance or the ta,xas or assessments above mentioned, or pay the
<br />- - pxeminma of iasuraase, pr.keap-said premises in repair, or- shall commit or Hermit the aommiasion of any waste, or shall. default in tho
<br />paeEoz7manoe of any of the terms, oovenanre and agreements of the promissory Hate seenrad by this mortgage, or of this mortgage, ar
<br />iE Rhe Mortgagor ahgll abandon said prnparty, ar if-the .Mortgagee shall be made a party in any suit oa socount of the existence of
<br />tlda moitgege or involving the-tilts to said real astata, the Mortgagee-may pay said drams, liens, eneumbraneea, taxes. assessments. or
<br />premiums, with-right ~ snbtogation th~eundat, ar make-repairs; or purohaee a tax_title, and may pmoure such abstracts of Utla or
<br />other evidence of title as it deems aeossary, ~ pay court rsasts, and aR soma eo paid, with interest at the maximum rate allowable
<br />by law, shall become a part of the ixtdebtedneas.heieby aeoure$, and also-the whole of Lhe indebtedness aeeurad hereby shall become
<br />sad be immediately doe and payable at the option of the Mortgagee without notice nr demand, wlriob era hereby expressly waived,
<br />and this mbrtgegv. may ba foreclosed. _
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