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<br />PGY ~~~- tt _a-~,~., _. _, < R~,~~ EsTAT~ 1N.ClIF(TLi~".~E ~_ _ _ ,. ~~3 _~ ~-, ~ ~„ ~~
<br />,~. ~~, uueer~AS}cp
<br />~}A ! (flpen-End= To Secure t r~sant and tutors tJbtiyations and Advaneesj
<br />Uats ~~
<br />Loe1 L. Loft (Also known as Loel Luft) and Sandra L. Loft {A Ise knawn as Sandra
<br />LtafU, Husband and Wife ,Mortgagor(s),
<br />of Hali County. Nebraska , in
<br />cansiderstion of the advance of the principal sum recited in the note hzreinafterdescribed and in Consideration of [ulure
<br />a ncas made b rt gee o ort a or ) or any them as hereinafter provided, hereby mortgages and conveys to:
<br />~ommercta~r'l~a~ana~ ~an~C ~ gust o.
<br />whose principal office is et ,Nebraska, Mortgagee.
<br />the following described real property in a - County. Nebraska.
<br />subject to oil, gas. and minaret rights owned by parties other than Mortgagor(s}: existing easements of record:
<br />reservations in United States end State Datents: and [he rights of the publrc In all highways:
<br />T he Southeast Quarter of the Northeast Quarter {SE4A?E,t--) and South One-Half of
<br />the Northeast Quarter of the Northeast Quarter (SZNE~NE4) of Section Fourteen (14)
<br />Twp Ten (10) Range {10), West of the 6th P. 1~L, Hall County, Nebraska, (Contajn-
<br />ing 60 Acres more or less). The East Ha''-f of the Northeast Quarter of the North-
<br />west Quarter (E ZNE4NW4) and the ~x~est One-Half of the Northeast Quarter (W ZNE q)
<br />of Section Fourteen (14), Township Ten {10) North, Range (10), West of the fith P. M.
<br />T he Southeast Quarter of the Southwest Quarter (SEYSWq) and the Southwest Quarter
<br />of the Southeast Quarter (SW4SE~'--) Section 11, Township Tea (10), North, Range (11)
<br />West of the 6th P. M. , Hali County, Nebraska.
<br />containing 240 acres. more or less, according to Government survey: together with all of the right, title, and
<br />interest of the Mortgagor(s) in said property now owned, or hereafter acquired, and including all buildings and
<br />improvements now on, w hereafter placed upon, said real property: including also all water, irrigation, and drainage
<br />rights. -
<br />This mortgage is given to secure:
<br />(a) A promissory note doled A ril 25 1979 iven by R o s ~(~gee.
<br />in the principal sum of wen v tx ousan tg un red"4'wentv~i~i~ ~ ~$/jjpt.LARS,
<br />payable v~ith interest according to the terms of said note and any instruments taken in refinancing, extending, or
<br />renewing said indebtedness or any part thereof;
<br />(bj Any future advance{s), with interest, which may be made Irom time to time by Mortgagee, at its option, to
<br />Mortgagor{sj, ar any of them or their successors in title, for any purpose in any amount or amounts, provided.
<br />however, the: such future and additional advance(s) shall be so 1-idmited.[hatt~a tot l ri ci 'a urµ tstanding
<br />at any one time shall not exceed the sum of llt e Undre P tILy l'riOAs~apnC~ ~t~Q ~~i/ 1~jOt.IARS,
<br />and provided further the future advance(s) so made ahaH ba payable in accordance with the terms of a promissory
<br />note or notes which may be taken to evidence such advance{sj or any part thereafe(The optional advance(s) herein
<br />authorized shalt be considered additional to the advance{sj hereinafter authorized to be made by the Mortgagee for
<br />the protection of the security or Mortgagee's interest therein.)
<br />This mortgage to be void upon the payment in full with interest of any obligations, present or future, secured or to be
<br />secured hereby.
<br />iha Mortgagor(s), and each of them, hereby warrant(s) that Ihsy are fee owners of the mortgaged real property; that
<br />they wil) defend fha title against all claimants whomsoever; and they relinquish elf rights of homestead in said premises,
<br />and covenant end agree with the Mortgagee as follows:
<br />(1) To pay when due all taxes, liens, judgments. or assessments which may be lawfully assessed against the property
<br />herein mortgaged, and the rental charges upon any leases assigned as additional security for this mortgage.
<br />(2j To insure and keep insured buildings and other improvements now on or which may hereafter be placed on said
<br />premises to the satisfaction of fha Mortgagee. Any policy evidencing such insurance shall be endorsed with a mortgage
<br />clause, approved by and in favor of Mortgagee, and deposited with, loss thereunder to be payable to. Mortgagee as its
<br />interest may appear. At the option of Mortgagor(s), and subject to general regulations of the farm Credit
<br />Administration, sums so received by Mortgagee may be used to pay for reconstruction of thedestroyed improvement{sl:
<br />or, it not so applied, may, at the option of Mortgagee, be applied in payment of any indebtedness, matured or unmatured,
<br />secured by this mortgage.
<br />(3) To keep all buildings occupied and in good repair, and to refrain from the commission of any acts of removal.
<br />demolition or impairment thereof; not to cut or remove, or permit to be cut or removed, any wood or timber from said
<br />rea! property, and Yo commit or permit no waste or impairment of fha value of this security; to continuously practice
<br />approved methods of farming on said lands, to prevent erosion and the spread of noxious end damaging weeds. and to
<br />preserve the fertility of fha soil.
<br />(4) That in the avant Mortgagor(s) tail(s) to pay when due any taxes, rental charges upon any leases assigned as
<br />additional security for this mortgage, liens, judgments, or assessments lawfully assessed against the property herein
<br />mortgaged, or fail(s) to maintain insurance as hereinbetora provided, Mortgagee may make such payment or provide
<br />such insurance, and the amount(s) paid therefor shall become a part o4 the indebtedness secured hereby, due and
<br />pnyabfe immediately, and shall bear interest at fha currant rate of the Mortgages at the limo fha Mortgagee makes such
<br />payment.
<br />(5) That in fha event Mortgagor(s) derault(s) in the payment of said principat sum, or in the repayment of any additional
<br />-advance(s) made as herein provided, yr of any interest thereon, dt the time when the same shall be due, or with respect to
<br />any covenant or condition heretif; then, at the option of Mortgagee, the entire indebtedness secured hereby shall
<br />forthwith become due and payable, sha41 bear interest a*. the current rate of the Mortgagee on the daze of the default, and
<br />the Mortgages may immediately torectose this mortgage oc pursue any other available legs! remedy. In fha event of any
<br />action by Mortgagee to enforce collection of the mortgage debt, the Mortgagor(s) agreeis) that any expense incurred to
<br />procure or extend an abstract o! title shall, when paid by Mortgages. become a part of the debt secured hereby, and shall
<br />be paid by Mortgagor{s) together with alt of the taxable costs of such zction.
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