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<br />Ell. E~'~~TE ~'~'f~1~i~'~
<br />Date!tuEust, :1, 19'79
<br />icichard L. iiaffman and Yvonne 0. Hoffman, husband ar_d wife
<br />Mortgagars,
<br />or Hall vaunty, Nebraska ,r, caasideratlon ai
<br />the advance of the principal sum recited Sn the Hate hereinaf*,er Cescr'.bed,receipt o_* nliiah is acknowledged, Dereby
<br />mortgage and Canvey to
<br />THE FEDERAL LAMD BANK 4F OMAHA, a Corporation,
<br />of Omaha, DauBlas County, Nebraska, whose address
<br />is Farm Credit Building, Omaha, Nebraska $8100,
<br />Mortgagee (subject Lo oil, gas, and mineral rights owned by F~'ties other than Mortgagors; existing easements of
<br />record; reservations ir. United States and State patents; and the rights of the public in all highways), thefollowiag-
<br />described real estate !n Ha11 county, Nebraska ..
<br />SEC. TWP. R8.
<br />A tract of land in the NWT commencing at the NW corner of
<br />said section, thence running Easterly on the North line of
<br />said NW'4 a distance of six hundred ninety-seven and twenty-
<br />two hundredths (697.22} feet to the actual point of be-
<br />ginning: Thence continuing Easterly on the North Line of
<br />said NWIy a distance of five hundred ninety-three and sixty-
<br />seven ht::,dredths (593.ii7) feet; thence deflecting right
<br />ninety degrees (90°) and running Southerly a distance of
<br />three hundred seventy-four and forty-eight hundredths
<br />{374.48} feet; thence deflecting right ninety degrees
<br />(90°} and running Westerly parallel to the North Line of
<br />sai3 Nt~~ a distance of five hundred ninety-three and
<br />sixty-seven hundredths {593.67) ft.; Thence deflecting
<br />right 90° and Running Northerly a distance of three hun-
<br />dred seventy-four and forty-eight hundredths (374.48)
<br />feet to the point of beginning - - - - - - - - - - - - - - I1 9N 9 W 6th P.M.
<br />containing 5.10 acres, more or less, together with all at the right, title, aid interest
<br />(Haw owned or hereafter acquired) oithe Mortgagors in said property, including all buildings, improvements fixtures,
<br />ar appurtenances theroon er hereafter placed thereon; all water, irrigation, and drainage rights; the tenements,
<br />hereditaments, and appurtenances thereto and the rents, issues, crops, and groflts arising i'ram said lands; and !~r
<br />tna Martgagors+ rights in Ghe public domair, are required by Mortgagee for security purposes) all leases, permits,
<br />licenses, orprlvileges, appurtenant or nonappurtenant to said mortgaged premises, Haw pr hereafter issued, axtende^,
<br />ar renewed to the Mortgagor3 Dy the Unitetl States or the state in which Ghe above-described praperty is leaaGed -
<br />ary doper tmert, bureau, ar agency ttiereaf.
<br />~_,__ ____~ge -s ~ ver: L~ „enure a promissory cote of even date herewith, executed by Mortgagar3 Ga Mortgagee, ir,
<br />-~ - -_ $l~ti"1"~=~ar'CT Tsi~^.ua~'A'~v1 SEyn-N H"Zry~"#c:~L AID ':OfS"J ._
<br />e prgnp;na s„m a - - -
<br />D05iARS,
<br />payable with interest according to the terms ;rf said ra te, t_ne final paymeht Lying crag and payable an Cite fi.- „ay
<br />or January. 1999 Tnis ronveysnce shall be void upon the payment of said pramissory Hate.
<br />Phis mortgage Ss subject to the provisions of THE FARM CREDIT ACT and all acts amendatory thereof ar supplemental
<br />thereto. ,^'he proceeds of the loan secured hereby will be used for the purposes specified Sn the Mortgagors" appll-
<br />ca±ian for said loan and authorl2ed Dy said pct.
<br />The Horcgagors, and each of them, hereby warrant that they are fee owners of the mortgaged real property; that they
<br />will defendd the title against ell claimants whomsoever, and that said praperty is free from all enc•WmDrarces; that
<br />they will keep alt the improvements, fixtures, and appurteravaes occupied and in good repair ant permit ne accs aT
<br />waste; and they will relinquish all rights of homestead in said premises, and aoveasnt and agree with ~-he Mortgagee,
<br />as fellows:
<br />f1} That They will pay when due all taxes, liens, judgments, or assessments which may be lawfully assessed against
<br />the property herein mortgaged.
<br />(2} Ti;at they wilt "ns.rre and keep insured tuildiags or other improvements now on ar which may hereafter be placed
<br />pn said premises to the satisfsetian of the Mortgagee, such insurance pallay shall be endorsed with a a.~rtgage clause
<br />with the loss thereunder to De payable to the Mortgagee. Aqy sums received may be used to pay for reconstruction
<br />of the destroyed lmprovemehts; or, it not so aDDlied, may, at the option of the Mortgagee, be applied 1n payment of
<br />ally indebtedness, matured or unmatured, secured by this mortgage.
<br />-~) '~` ^"y alt rents, f°es, ar _`~ ~,as Haw due ar to became due ender the forms pf each lease. Kermit, license, or
<br />privilege pn the public dorgain whlah Fs appurtenant or nanappurtehant tp the mortgaged premises, which has been
<br />ssuad, extended,ar renewed by the il<lited states or the state in which the above-desc.^ibed pra~rty is located: and
<br />to perform and observe every act, covenant, condition, anti stipulation necessary to keep eaph oZ the same in goad
<br />standing; acd to take every necessary step to secure the reissue, renewal, or extension of each of the same; and to
<br />assign, t:elye. pledge, or endorse to tDe Mortgagoe each lease, permit, license, or privilege if Mortgagars" rights
<br />--in_public-domain are required by Mortgagee for security purposes.
<br />f~} -That irr the-avant-the Martgager is a-party to any litigation affecting the security nr the lien o.* its mort-
<br />gage. including env-suit ay the Mortgagee to foreclose this martgags or any suit In which the Mortgagee may be named
<br />a party defendant 1n which it is pbiigatetl to protect its rights or lien, including condemnation and bankruptcy
<br />P3'aCeflGYngs, the H4rtgagee may incur expenses-and advance payment for aDStract tees, attorney fees (except to the
<br />extent prohibited-try law), costs, expenses, and other charge3.
<br />(S}That 2n the event Ghe Mortgagors fail to pay when due any taxes, liens, judgments, or assessments, or fail to
<br />maintain insurance as herein4atare provided, or tail to pay rents, tees, or charges under the terms of any lease,
<br />permit, license, or privilege;-or-Mortgagee 1s required to incur eppenser, far abstract fees, attprTiey fees, casts,
<br />.expenses, and other Charges in-connsetion with 2ltigation, Mortgagee may make such payment ar pravlde such Sasvrance,
<br />or incur sucD obligation, and the 8laounts paid therefor shall become apart of the indebtedness secured hereby due
<br />aid payaD3s Smmadiat$ly, and shall Dear interest fro[: tine date of p~nierrt at rye same rate as provided far default
<br />in the note.
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