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
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