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<br />REAL ESTATE MORTGAGE
<br />KNOW ALL MEN BY THESE PRESENTS:
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<br />That, THOMAS S. BAXTER and ELIZABETH BAXTER, Husband and Wife, as mortgagors,
<br />whether one or more, in consideration of the granting of a line of credit to
<br />T & E CATTLE CO., BAXTER CATTLE COMPANY, and LITTLE B's CORPORATION, in the amount
<br />of FOUR MILLION FIVE HUNDRED THOUSAND AND NO/100 DOLLARS ($4 500 000.00), does
<br />hereby grant, bargain, sell and convey unto THE FIRST NATIONAL BANK OF GRAND ISLAND,
<br />a banking corporation of Grand Island, Hall County, Nebraska, as mortgagee, the
<br />following described real estate situated in Hall County, and State of Nebraska,
<br />to-wit:
<br />The East Half of the Northwest Quarter (E~ NW"~) of Section 15,
<br />Township 11 North, Range 10 West of the 6th 1.M., Hall County, Nebraska.
<br />The Southwest Quarter (SW~y) of Section 9, Township 11 North,
<br />Range 10 West of the 6th P.M., Hall County, Nebraska,
<br />Including all irrigation and water rights, irrigation wells, pumps,
<br />irrigation equipment and accessories thereto.
<br />Subject to easements of record and to existing roads and highways,
<br />together with all improvements thereon, equipment, fixtures and appurtenances
<br />thereunto belonging; and all covenants and all title deeds running with such
<br />lands; and all rents, issues and profits arising therefrom after default and
<br />performance of any covenan*_ and condition herein contained; the intention being
<br />to convey hereby an absolute title in fee simple and to convey all and every
<br />right, title and interest of Thomas S. Baxter and Elizabeth Baxter, Husband and
<br />Wife, in and to such real property, including ail rights of homestead and dower.
<br />The mortgagors do hereby covenant with the mortgagee, its successors and
<br />assigns, that they are lawfully seized of said premises except as hereinstated
<br />and that they will warrant and defend said premises against lawful claims of
<br />any and all persons whomsoever.
<br />To have and to hold the gremises above-described, with all improvements
<br />.thereon, including all heating, gas and plumbing apparatus and fixtures and all
<br />appurtenances thereunto belonging unto The First National Bank of Grand Island,
<br />Grand Island, Nebraska, and to its successors and assigns forever, provided always,
<br />and these presents are upon the express condition that if the said mortgagor, its
<br />successors, or assigns, sha21 pay oz cause to be paid to The First National Bank
<br />of Grand Island, its successors or assigns, the total unpaid balance of the line of
<br />credit up to FOUR MILLION FIVE HUNDRED THOUSAND AND NO/100 DOLLARS ($4,500,000.00),
<br />plus interest on the from time to time principal unpaid balance at a rate of Two
<br />Per Cent (2%) per annum in excess of the prime rate of interest of The First
<br />National Bank of St. Louis, Missouri, applicable to ninety-day commercial loans,
<br />and after maturity at a rate which is Two Per Cent {2%) per year in excess of the
<br />rate in effect at maturity, aI1 according to the tenure and effect of demand
<br />promissory note of T fr E Gattle Co., Baxtez Cattle Company, and Little B's
<br />Corporation, bearing even date with these presents. Mortgagor shall pay all
<br />taxes and assessments levied upon such real estate, and all other taxes, levies
<br />and assessments levied an said mortgage or upon the note which this mortgage is
<br />given to secure before the same becomes delinquent.
<br />IT IS FURTHER AGREED:
<br />1. That if the said mortgagor shall fail to pay such taxes, the
<br />mortgagee, its successors or assigns, may pay such taxes and
<br />procure such insurance and the sum so advaneed with interest
<br />at. Eleven Per Cent (11X) per annuQ, shall be paid by the said
<br />mortgagor and this mortgage shall stand £or security of the
<br />same.
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