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~~- vc~3444
<br />EXHIBIT B-3
<br />REAL ESTATE MORTGAGE
<br />Iu'~tOW ALL MEN BY THESE PRESENTS:
<br />That, LITTLE B's CORPORATION, a corporation duly organized and existing under
<br />the laws of Lhe State of Nebraska, as mortgagor, in consideration of the granting
<br />of a line of credit in the amovmt of SEVEN MILLION AND NO/100 DOLLARS ($7,000,000.00)
<br />does hereby grant, bargain, sell and convey unto THE FIRST NATIONAL BANk OF GRAND
<br />ISLAri'D, a banking corporation of Grand Island, Hall County, Nebraska, as mortgagee,
<br />the following described real estate situated in Hail County, and State of Nebraska,
<br />to-wit:
<br />Southeast t~uarter {SE'V) of Section Nine (9), of Township Eleven {11)
<br />North, Range Ten (10) West of the 5th P.*i., Hall County, Nebraska.
<br />Including all irrigation and water rights, irrigation wells, pumps,
<br />gearheads, irriga[ioa 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 there-
<br />unto belonging; and all covenants and all title deeds running with such lands; and
<br />all rents, issues and profits arising therefrom after default and performance of
<br />any covaaant and condition herein contained; the intension being to convey hereby
<br />an absolute title in fee simple and to convey all and every right, title and
<br />interest of such Littla B's Corporation, a corporation, in and to such real property.
<br />The mortgagor does hereby covenant with the mortgagee, its successors and assigns,
<br />that it is lawfully seized of said premises except as hereinstated and that they
<br />viil warrant and defend said premises against lawful claims of any and all persons
<br />whomsoever.
<br />To have and to hold the premises above-described with all improvements thereon,
<br />including all heating, gas and plumbing apparatus and fixtures and alt appurtenances
<br />thereunto belonging unto The First National Bank of Grand Island, Grand Island,
<br />Nebraska, aad to its successors and assigns forever, provided always, and these
<br />presents are upon the express condition that if the said mortgagor, its successors
<br />or assigns, shall pay or cause to be paid to The First National Bank of Grand island,
<br />its successors ar assigns, the Lotal unpaid balance of the line of credit up to
<br />SEVEiv lfILLION Ai€D NO/l00 D~~LLARS (57,000,000.00), plus interest on the from Eime to
<br />tip principal unpaid balance at a rate of Two Per Cent {2~) per annum in excess of
<br />the prime rate of intezast of the First National Bank in St. Louis, Missouri,
<br />applicable to ninety-day commercial Yoans, and after maturity at a rate vbict is
<br />Two Per Cent (2») per year in excess of the rate in effect at maturity, all according
<br />Lo the tenure and effect of demand promissory note of the mortgagor, bearing even
<br />date with these presents. Mortgagor shall nay all taxes and assessments levied upor.
<br />such real estate, and ail other taxes, levies and assessments levied on said mortgage
<br />or upon tha note which this mtrtgage is given to secure before the same becomes
<br />delinquent.
<br />iT IS F=oTci'hlF" Atii2EED
<br />1. That if the said mortgagor shall fail to pay such taxes the
<br />mortgagee, its successors oz assigns, ma;' pay such taxes and
<br />procure such insurance ana the s~:ua sa advanced with interest
<br />at Fifteen Per Cenr (154) per annum, shalt be paid by the said
<br />mortgagor and Lhis mortgage shall stand for security of the
<br />same.
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