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79-. °~~ ~.~ 1:s ~~ <br />Loan No. 7 i05 144 <br />RIDER attached to and <br />part of MORTGAGE for $ 700,000.00 ,dated April 9, 1979 , <br />BY Tom Baxter also known as Thomas Baxter and Thomas Baxter and Thomas S. Baxter and <br />Elizabeth Baxter, husband and wife• T & E CATTLE COMPANY, a Nebras a orp. MORTGAGOR, <br />and LITTLE B'S CORP., a Nebraska Corporation. <br />To THE PRUDENTIAL INSURANCE COMPANY OF AMERICA, a New Jersey corporation, MORTGAGEE. <br />Addlti0ndl Covenants: <br />In the event Mortgagor, without the prior written consent of Mortgagee, <br />shall mortgage or otherwise encumber the mortgaged premises, or any part thereof <br />or any interest therein, whether voluntarily or involuntarily, the entire balance <br />of the indebtedness secured hereby shall become and be immediately due and <br />payable at the option of Mortgagee; provided, however, that Mortgagor may <br />mortgage or encumber the premises, or any part thereof or any interest therein, <br />where such mortgage or encumbrance is granted to an institutional lender as <br />collateral security for crop production and/or fart operation loans made for <br />the benefit of the mortgaged premises. <br />In event of sale or transfer of all or any part of the mortgaged premises, <br />whether by operation of law or otherwise, without the prior written consent of <br />Mortgagee, the entire balance of the indebtedness secured hereby shall, at the <br />option of Mortgagee, become and be immediately due and payable. <br />If Mortgagor or any co-signer or guarantor of the note secured hereby <br />shall file, or there be filed against any such party, a petition in bankruptcy <br />or insolvency or for other similar relief under the bankruptcy laws of the United <br />States or under any other applicable Federal, state or other statute or law, <br />or a receiver, trustee or liquidator shall have been appointed with respect to <br />such party, then in any such event Mortgagee shall have the right, at its option, <br />without giving prior notice to !~~rtgagor and without liability of any kind <br />upon Mortgagee, to declare the principal of the note hereby secured and then <br />outstanding to be due and payable immediately; and upon such declaration the <br />said principal, so declared due and payable, together with the interest accrued <br />thereon, and together with any ether sums secured thereby, shall become and be <br />due and payabl° immediately, anything in this mortgage or in said mole iv the <br />contrary notwithstanding. <br />Mortgagor hereby waives any right to require that the real estate <br />mortgaged hereby be sold as separate tracts or units in event of foreclosure <br />hereof, hereby authorizing and empowering Mortgagee in such event to sell the <br />mortgaged premises in one tract or otherwise, at its option, anything in this <br />mortgage to the contrary notwithstanding. <br />The farm loan secured herby is to be disbursed in two draws, as follows, <br />upon completion of requirements set forth for each draw to the satisfaction of Mortgagee, <br />with interest to be payable on each draw from date of disbursement: First Draw of <br />$675,000.00 upon execution of this martgage and the note secured hereby and recording <br />of this mortgage as a first lien of record at loan closing. Second Draw of $25,000.00 <br />after completion of irrigation development of the mortgaged premises, free and clear <br />of all mechanic's liens, within six months from date of initial disbursement; ;f not <br />disbursed, the loan secured hereby shall be reduced to $675,OOO.DD. <br />NCB 737d iq 5~7i <br />