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<br />t,ate S~Qtemher 25_,_,.?.979
<br />E
<br />Arden N. Peterson and Gretchen K. Peterson, husband and wife
<br />Mortgagors,
<br />af_ '-tall county Nehraska in consideration or
<br />the advance of the principal sum recited in the note hereinafter descriDed,receiptgf which is acknowledged, reraby
<br />mortgage and convey to
<br />THE FEDERAL LAND BANK OF OMAHA, a Corporation,
<br />of Omaha, Douglas County, Nebraska, whose address
<br />is farm Credit Building, Omaha, Nebraska 68100,
<br />~MOrtgagee (subJ ect to oil, gas, and mineral rights owned Dy parties other than Mortgagors; existing easements Cf
<br />record; reservations in United States and State patents; and the rights of the public Sn all highways}, the tollowing-
<br />describeG real estate Sn Hall County, Nebraska
<br />SEC. TWP. R8.
<br />NW's--------------------------- 23 12N 10 W 5th P.M.
<br />cantainlrg 160 acres, more or less, together with ail of the right, title, and interest,
<br />{now owned orhereafter acquired) of the Mortgagors In said property,_lncluding all bu11d1rgs, SmprevemeaLs,fixtures,
<br />or appurtenances thereon or hereafter placed thereon; all water ;rrigation, and dralnsge rights; the *-~~nemen~s,
<br />herediLaments, and appurtenances thereto and the rents, issues, crops, and profits arising from said lands; and {it
<br />t.^e Morl.gagors~ rights in the public domain are required it;° M_rt-ogee for security purposes) all leases, penults,
<br />Sirenses, arprivileges, appurtenant or nonappurtenant to said mortgaged premises, sow ar hereafter Issued, extended,
<br />•r renewed to the Mortgagors by the United States qr the state !n which Lhe above-described property is located or
<br />ct,y~ department, bureau, qr agency there o_*.
<br />,"7iis mortgage +s g,IVen to secure a promissory note of even d7te ?:€re-~. _. exe¢u`~_ `y Mart-gagers _o ?iu: ~ ...
<br />-tgags~,
<br />idt'e *+ri;jotpai sum of SEL~NTY-SEl1IN THOiIS~1N11 N1IIF HLiNNOItEP RNLI NO/100 - - - - - - - - ~*.Y,'.~,5.
<br />l;~+abie;wiEh interest according to the terms nt said npte, t.hP final p~kvment Detng due aced payable oa the tlrs_t 3uy
<br />of March 1999 This conveyance shall De void upon the ptyyment of said promissory note.
<br />This mortgage !s sub,}ect to the provisions of THE FAgM C4ECIT ACT and all acts amendetory thereof or supplemental
<br />thereto. The proceeds of the loan secured hereby will be usetl for the purposes specified in the Mortgagorse appli-
<br />cation for said loan and authorized by said Act.
<br />The Mortgagors, and each of them, Dereby warrant chat they are tea owners of the mortgaged real property; that Lhey
<br />will defend the title against all claimants whatsoever, and that Bald property Ss tree from ail eneumDrances: that
<br />they will keep all the improvements, fixtures, and appurtenances occupied and In good repair and permit na acC_ of
<br />waste; and they will relinquish all rights of homestead la s.id premises, and covenant attA agree with the Mortgagee,
<br />as fellows:
<br />{i) 'f'iat they will pay when due all taxes, liens, Judgments, or assessments which may be lawfully assessed sgainst
<br />r,he property herein mortgaged.
<br />{2} S±~,at they will insure and keop insured buildings or other improvements now on or which may hereafter De placed
<br />an Bald premises to the satisfaction, of the Mortgagee, such Snsuranre policy shall be endorsed with a mortgage clause
<br />with the loss thereunder to be payable to the Mortgagee. Arty ^ums received may be used to pay for reconstruction
<br />of the destroyed improvements; or, if not so applied, may, at the option of the Mortgagee, be applied in payment of
<br />arty lndebtedress, msturad or ttnmatured, secured by th13 mortgage.
<br />r=t1 '"^ p'--,y all rer.q rse~ Dr charges sow due ar to t+eagms? due under Lhe Germs oP cacti lease, permit, Iieensc-, qr
<br />privilege an the public domain whicD is appurtenant er nanappurtenant tq the mortgaged premises, which has Deen
<br />IYs~aed, eatended,or renewed Dy the United States or Lhe state in which the above-described property 1s located; and
<br />Lo perform snd observe every act, covenant, condition, and stipulation necessary to keep each of the samq 1n goad
<br />standing; artd ca take every necessary step to secure the reissue. renewal, or extension of Bach of the same; attd to
<br />assign, waive, pledge, or endorse to the Mortgagee each lease, permit, license, or privilege if Mortgagorse rights
<br />!h public damaln are required Dy Mortgagee for security purposes.
<br />{4} That in the-event the Mortgagee Ss a party to any litigation affecting the security or the lien of iLS mort-
<br />gage,-including any suit by the Mortgagee Lo [areclose this mortgage or any suit In which the Mortgagee may De named
<br />a party defendant Sn which it Ss obligated to protect Sts rights or l+en, including condemnation and bankruptcy
<br />proceedings, the Mortgagee may incur expenses and advance payment for abstract tees, attorney tees (except to the
<br />extent prohibited by law}; costs, expenses, and other charges.
<br />(5} -~ittat Sn the event the Mortgagors fall to pay .when due any taxes, liens, Judgments, or assessments, or tali co
<br />maintain Snsuranae as herelnbePgre prgvkded, or Ta1I to pay rents, fees, nr charges under the terms of any lease,
<br />permit, license, or privilege; or Mortgagee-SS required tq incur expenses _*or aDStract ises, attorney fees, costs,
<br />expenses, anU Other Charges Sn connection whit 11CIgatlgn, Mortgagee may make such payment arprevlds such insurance,
<br />or incur such obligation, and the amounts-paid therefor shall become apart of the indebtedness secured hereby due
<br />and payable lmmadlate~y, and shall bear interest-from the dale of payment at the same rate as provided far default
<br />in the note.
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