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<br />VCA 73- 17 REAL ESTATE MORTGAGE
<br />t~-73) NEBRASKA
<br />~) „ ~ ^ ~ (Open-End: To Secure Present and Future Obligations and Advances)
<br />~(e„~ s.~ ~-j Date ._b$a}t--2~r-~ca~o
<br />~/ Dr~uglas E lies;: itigter-cnd--dal-yt3e-Y. iia-rr=ngiren~ -vQ~~.^,d-~at~-~-~!-i-f°e-; ----- ~.
<br />__ __._-.____. ,Mortgagor (s), -
<br />of ---flail _- County, Nebraska , in
<br />consideration of the advance of the principal sum recited in the note hereinafter described and in consideration of future
<br />advances made by mortgagee to mortgagor(s) or any of them as hereinafter provided, hereby mortgages and conveys to:
<br />Commercial National Bank & m ,~~ o ___ ,~rm$tirtmriartxfitgditcJtsttnciaticsmtx
<br />whose principal office is at - ,Nebraska, Mortgagee.
<br />the following described real property m - County, Nebraska.
<br />subject to oil, gas, and mineral rights owned by parties other than ortgagor{s): existing easements of record: -
<br />reservaiions in United Slates and State patents: and the rights of the public in alt hi hwa~a: !the South Half of
<br />art ~f
<br />the. Northeast Quarter (S~NEta) of Section Eight (8), Township Twelve (12) North Range Nine (9)i
<br />Atest of the 6th P.M. in Hall County, Nebraska, more particularly described as fellows: Be-
<br />ginning at point on the south line of said Northeast Quarter (NE's) and also being on the west`
<br />fight-of-way line of U.S- Highway No. 281; said poir_t being thirty-nine and one-tenth feet
<br />(39.10') west of the southeast corner of said Northeast Quarter (NEta): thence running westerly
<br />8iong the south line of sai3 Northeast Quarter (NEti) a distance of seven hundred ten and thirky-
<br />two hundredths feet (710.32') thence runri.ng northerly parallel to the east line of said
<br />fort-beast Quarter (NEts) a distanceof three hundred sixty-seven and r.irety-six hundredth Feet
<br />(.367_96'1; thence rtrnnina easterly parallel to the scluth line of said northeast Cuarter fNF.'_1
<br />~ distance of seven hundred ten and twenty hundredths feet (710,20') to a point on said Highway
<br />fight-of-way line; thence running southerly along the said Highway right-of-way line a distance
<br />pf three hundred sixty-seven an3 ninety-six hundredths feet (`x6;.96') to the pc:int of beginning
<br />~t!d containing 6.00 acres more or less-
<br />containing acres. more or toss. 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, or hereafter placed upon, sa,d real property: including also all water, irrigation, and drainage
<br />rights.
<br />This mortgage is given to secure
<br />' {a) A promissory note dated -_-_..__;id;'._~ ~.. ~ 874 ,given by Mortgagorls) to Mortgagee.
<br />in the principal sum of ~y;_. n ~ - • ~^ r,l~ -_.-_-t1r1LLARS.
<br />payable with interest according m the terms of said rote and any instruments taken in refinancing, extending, or
<br />renewing said indebtedness ar any part thereof:
<br />fb) Any future tidvanceis). wish interest, whrch may be made from time to time by Mortgagee, at its option, to
<br />Mortgagcr(s), or any of them or their successors in title, for any purpose in any amount or amounts, provided.
<br />however, that such future and additional advancers) shalt be so limited that the total principal amounts outstanding
<br />at any one temr shall not exceed the sum of S~~_~'1dS~'' `i y 4'housand any _ n ~,^"1 DO --DOLLARS.
<br />and provided further the iuture advance{s} sa made shall be payable in accordance with the terms of a promissory
<br />note or notes which may be taken to evedence such advance(sl or any part ihereof.(The optional advancers! teerern
<br />authtnixcd she!! be _^or:sids:ed sdditi::,"v! to ttx advanee;s; hereinafter authorised to be made by the Mortgagee for
<br />- the protettion of the security or tdortgagee's rnterest therern.)
<br />This mCrtgag@ to be void upon tf,e payment rn full wrth interest sf any obiigauons, present or future, secured or to be
<br />sactwed hereby.
<br />The Mortgagor{s). and each of them, hereby warrantis? that they are fee owners of the mortgaged real property, that
<br />ttley wiH defend the htfe against all cla,mants whomsoever. and they reimqush all rights of homestead in said premises.
<br />and wvereant and agree Witt, the Mortgagee as follows
<br />{1 } Ta pay when due all taxes. liens, judgments. or assessments whrch maY be lawfully assessed aga,nst the property
<br />teerein mortgaged, and the rental charges upon any teases ass,gned as additronaE security for this mortgage.
<br />(2) To ensure and keep insured buildings and other rmprovements now on or which may hereafter be placed on card
<br />premises to tfie satisfact,on of the Mortgagee- Any potrcy 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 ns
<br />intarast may appear. At the option of Mortgagor(s). and subject to general regulations of the Farm Credn
<br />Adminsstrateon, sums so received by Mortgagee may be used to pay far reconstruction of the destroyed improvement(s);
<br />or, if ttat so applied, may, at the option of Mortgagee, he applied in payment of any indebtedness, matured or unmatured.
<br />secured (sy this mortgage.
<br />(3j To keep all buildings occupeed and m good repair. and to refrain from the Comm+ssion of any acts of removal,
<br />demolition or empairment thereat, not to cut or remove, or permit to be cut or removed, any wood ar timber from said
<br />reef property, aced to commit or permit no waste or impa,rment of the value of this security: to continuously practice
<br />approved methods of farming on said lands, to prevent erosion and the spread of noxious and damaging weeds, and to
<br />preserve the fertility of the soil.
<br />f;) Tfut en the event Mortgagor(s) fail(s) to pay when due any taxes, rental charges upon any leases assrgned as
<br />additional security for this mortgage, liens, judgments, or assessments lawfully assessed against the property herein
<br />mortgaged, or fail(:) to maintain insurance as hereenbetora provided. Mortgagee may make such payment or provide
<br />such itisitrance, and the amount{s) paid therefor shall become a part of the indebtedness secured hereby, duz and
<br />payable rtc~iataly. 8+ed sAaff bear'seterast m the current rate of the Mortgagee at the time the Mortgagee makes such
<br />paymarst.
<br />`s f51 That irr the event Mortgagor(s) default(s) in the payment of said principal sum, ar in the repayment of any additional
<br />advance{s) made as herein provided, prof any interest thereon, at the time when the same shall be due, or with respect to
<br />arty ,xivartaret or ~reditian hereof, then, at the option of Mortgagee, the entire indebtedness secured hereby shall
<br />forthwith become due and payab~. shall bear interest at the current rate of the Mortgagee on the date of the default, and
<br />the MtarEgagee may emmatliately fodeelose this mortgage or pursue any otfier available legal remedy. In the event of any
<br />action by Mortgagee to enforce collection of the mortgage debt, the Mortgagor(s) agreerst that any expense incurred to
<br />proetue m extend an abstract of title shelf. when paid by Mortgagee, became a part of the debt secured hereby. and shall
<br />be paid by Mortgagor{s) together with ail of the taxable costs of such action.
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