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P-1$4151
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<br />7WE SUITABLE LIFE ASSURANCE PIETY QF i'NE l1Nli`ED 57atTE5 ~BtF
<br />THIS MORTGAGE, dated as of che..._....1$>=.__ ..._ ...dav of .__._,AuguSt...... , l4 79 , between
<br />LaMONTE SAHLING and DONNA SAHLING, husband and wife; and
<br />HEAL T• SAHLING, single, also known as Neal Todd Sahling,
<br />wh R posi~oTfice address is ... - .....Wood ltiYer, --Nebra@ka__„ 68$83
<br />hereinafter called "Alort,Qagor," and THE EQUITAALE LIFE ASSURANCE S(X:IETY OF THE UN1'1'EU STATES, a New York
<br />corporation, ha+ing its principal office and post office address at l 285 Avenue of the Americas, New York, New York ] 0019, herzin-
<br />aftercalled "Aortgagee":
<br />WHEREAS, the Mortgagor is juscly indebted to the Mort •a,ee in the sum of ....~?KE[:.. 8t?.Si~X.Ott..~:1Q11a.~Qt~.-.?At;;d._f'.~?I~.Q{~....
<br />__~_^_- --- ------__- 340 00~Eb0
<br />..Dollars (S.. t •.. .. ) wah mtcrest, atl rs set Eorth m his cer[am pronussory note
<br />("Note") of even date herewith maturing._.._ .1!aAttary. 1 .. .._ .., _ .._ _ ............ .IOC. 2,000
<br />NOW, THEREFORE, THIS MORTGAGE WITNESSETH, that, to secure the paymene of the principal o` and interest on the Note
<br />and the performance of the cavenants therein and herein contained, and in consideration of the premises. thz Mortgagor by these
<br />presents does grant, bargain, sell, convey, craosfer, assign, mortgage, pledge, warrant and confirm unto the Mortgagee ail the property
<br />("tlte Alorfgaged Property ") hereinafter described, to~w;t:
<br />1. The following described real property located in the County of .. H811 _..,_... , ...
<br />State of ... .Nebraska , to-wit:
<br />_....__.
<br />Northeast Quarter (NE/4) of Section T:Iirty (30),
<br />Township Nine (9) North, Range Eleven fll), West
<br />of 6th P.M., I3a11 County, Nebraska;
<br />AND, The following described real property located is the County of Adams
<br />State of Nebraska , ta-~ttit:
<br />Northwest Quarter (NW/4) of Section Six (6),
<br />Township Eight {8) North, Range Eleven (11), West
<br />of 6th P.M., Adams County, Nebraska;
<br />Default by the mortgagor under any other instrument securing the debt hereby secured
<br />shall constitute a default tinder this instrument,
<br />IL The Mortgagor ;c uuerzst as lzsszr itf all leases tincluding but net limited ea. oil, gas and rrunrral Irasesl now ur hereafter affeet-
<br />ing thz shave-desscribed teal propettt~ rst any part eht,rcof.
<br />Tt"3GETtiER W4TFi tier rents, issues, and profits tltereuf, reserving, hawzver, (unless E=tlterwise provided herein F,r in a separate
<br />insuuutrut of 3ssi~ntrzentl. uttt,~ the Mortgagor the right. prior to arty default in tltz paymcrtt of the Nate ur in }?crf.~nnattir ~f a~2v
<br />agreenfent hereunder, to caiiect and retain such rents, issues, and profits as they become due and payable, and together also with ail
<br />and singular the tenements, hereditamcnts. and appurtenances thereunto belonging, including irrigation, drainaGr, and water rights of
<br />every kind and description.
<br />TO HAVE AND TO }}OLD d,e same unto the Mortgagee, its successors and assigns, forever.
<br />PKOVIDED, ALWAYS, drat if the Mortgagor, his heirs, representatives, successors or assigns, steal{ pay unto dte Mortgaget, its
<br />successors or assigns, the said sow ,>C money ntentiuned in the Note and the interest thereon at the times a+td place and in the manner
<br />specified in the Notz, and all other sums that may tie[nmc due ..nfd owing to the Mcrt};:tgee putsfant to au}` of the terms, covenants
<br />and conditions hereof, and perform all the conditions and atvruauts contained in this mortgage i ".ilnrt~~Se" , the a these presents and
<br />the estate hereby granted shall cease, determine -end br void, otherwise to remain in full force and efl ect.
<br />AND SUB_[ECT Co the cavenants and conditions hereinafter se[ forth.
<br />FIRST: Thr Mortgagor hereby covenants and agrees, to the cztrnt permitted by law, as foifows: la to p.ty promptly when due
<br />the princtpa} anc} interest and other sums of money provided for in cite Notr anti in this Mnrtgage, or either: rb i to pay ail taxes, assess
<br />ments and other charges (including ditch, canal. reservr» r. ur ocher wafer rhargts, ta:c r.s or asscssmtntsl imposed by law upon. tfie Mort-
<br />gaged Property, Ehe Mortgagee's interest therein, or upon the Mortgagee ur the No4; provided however, that, in tht event of rhz pas-
<br />sage of any law changing the laws for the taxation of mortgages or debts secttred by mortgage sa as to affect this Mprtgagr, the entire
<br />i,:ds'i.~cun~5> s::ciired htrc`ery Shy}i, r' the aptiai, ai the" Mortgagee. bet.-acne clue and pat ably:lcy tt+ keep the ~iorrgaKed Prc,pE rty and
<br />smpruvementa i}tereaa in goad canditian and repair and nac to eamatit rr suf7ee waste thereof, and eserpt a.s autltarizrd in env sehrd-
<br />ule annexed hereto and forming a part hereof, nether to rrmavt nor permit the remava! of any timber, buildings, oil, gas. minerals,
<br />stanr, rock, clav, fertilizer, grave} ur tap soil without the prier written consent of the Martgagee; (d) to maintain and deliver to the
<br />tStartgagee pt>tieies of insurance against such hazards on the buildings now or hereafter located on [hc Mortgaged Property as the
<br />Mortgagee may esqquire, in such eampanies and amau nt5 and with such loss payable clauses as shall be satisfactory to the Mortga~s:e;
<br />that in ttte event of lass the Martgagee is expressly authorized to stttlt or crtmpromisr claims under said policies acrd the prexecds shall
<br />be paid to the Mort~agee who may apply same ar any part thereof on the indebtedness steured hereby ar towards the reconstruction
<br />ar repair of said bui dings or release same to the Mortgagor; (e) to pay any lien, claim ar charg*c against the Mortgaged Property which
<br />might take precedence over the lien here„f; (f] to pay on demand all legal expenses, title searches, ur atrontzy fees reasonably incurred
<br />or paid by the Martgagee to colIret the Nate or forzclose or protrct rtes Tien of the 69ortgage; (g) that in the event he shall fail to com-
<br />ply with the pravisiors of (a) through (E) above, the Martgagee may cake such action as is necessary to remedy such failure and all
<br />sums paid by the Mortgagee pursuant hereto with interest at the rate hereinafter provided shall constitute a lien upon the Mortgaged
<br />Property, sha}I be secured by this Moregage, and shall 6c immediately due and repayable to the Mortgagee: (h) not to sell [he prc+n ices
<br />or any portion thereof, or, it the Mortgagor ix a corporation, noC mare [}fan ~~.~i> of its corporate stock shall be sold, traded or dis-
<br />pUSed of to persons other than the present owners prior to the time the indebtedaess secured hereby shall have been reduced (esclu-
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