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EXHIBIT B-2
<br />?9- ~C-$443
<br />REAL ESTATE MORTGAGE
<br />KNOW ALL MEN BY THESE PRESENTS:
<br />That, THO*!AS S. BAXTER and ELIZABETH BAXTER, Husband and Wite, as mortgagors,
<br />whether one or more, in consideration of the granting of a line of credit to
<br />T ~ E CATTLE CO., B.~XTER CATTLE COMPANY, BIG B, INC. and LITTLE B`s CORPORATION,
<br />in the amount of SEVEN MILLION APID NOi100 DOLLARS ($7,000,000.00), does hereby
<br />grant, bargain, sell and convey unto THE FIRST NATIONAL BANK OF GRAND ISLAND, a
<br />banking corporation of Grand Island, Hall County, Nebraska, as mortgagee, the
<br />fallawing described real estate situated in Hall Caunty, and State of Nebraska,
<br />to-wit:
<br />The East Half of Lhe Northwest Quarter (F'rg NWT) of Section 15,
<br />Township 11 North, Range 10 West of the 6ih P.M., Hall County,
<br />Nebraska.
<br />The Southwest Quarter (SW's) of Section 4, Township 11 North,
<br />Range 10 West of the 6th P.M., Hall County, Nebraska.
<br />Including al3 irrigation and eater rights, irrigation yells,
<br />pumps, gearheads, irrigatian equipment and accessories thereto.
<br />Subject to existing mortgages, easements of record and to existing
<br />roads and highways,
<br />tagether 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 covenant and condition herein contained; the intention being
<br />to convey hereby an abso=ute title in fee simple and to convey all and every
<br />right, *_itle and interest of Tnamas S. Baxter and Elizabeth Baxter, husband and
<br />wife, in and to such real property, including a21 rights of homestead and dower.
<br />The mortgagors do hereby covenant with the mortgagee, its successors and assigns,
<br />that they are lawfully seized of said premises except as here in stated and they
<br />they will warrant aad defend said premises against lawful claims of any and all
<br />persons whomsoever.
<br />Ta have and to mold the premises above-described, with all :mprovemenis Lhereon,
<br />including al3 heating, gas and plumbing apparatus and fixtures and all appurtenances
<br />thereunto belonging amto The First National Bank of Crand lslaad, Grand Island,
<br />Alebraska, and to its successors and assigns forever, prorided always, and these
<br />presents are upon the express candition that if the said mortgagor, its successors,
<br />or assigns, shale pay or cause to be paid to The first National Bank of Grand
<br />Island, its successors or assigns, the total unpaid balance of the Iine of credit
<br />up to SEITF.AI MILLION AND NO/100 DOLLARS ($7,QOO,OOfl.flO), plus interest on the from
<br />time to time principal unpaid balance at a rate of Two Per Cent (2«) Per annum in
<br />excess of the prime rate of interest of the First Naiioaai 93nk in St. Louis, Missouri,
<br />applicable to ninety-day commercial loans, and after maturity at a rate which is
<br />Twb Per Gent (Z.) per ~~ear i3 excess of the rate in effect at maturity, all according
<br />to the tenure aad effect of demand promissory note of T fi E Cattle Co., Baxter
<br />Cattle Ca:mpaay, Little B's Corparafian and Big B, Inc., bearing even date with these
<br />presents. Mortgagor shall pay ail taxes anti assessments levied upon such real
<br />estate, and all other taxes, levies aad assessments levied on said mortgage or upon
<br />the Hate which this mortgage is given to secure before the same becomes delinquent.
<br />TT ZS FLTKTEEB AGRE£i3:
<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 aad the aum so advanced with interest
<br />at Eleven Per Cent (131) per annum, shall be paid by the said
<br />eartgagoz aad this mortgage shah stand for security of the
<br />same.
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