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<br />b4-REAL ESTATE MORTGAGE-t Witt: Tax Clause) Nufiman and Felton & Wolf, Walton, Ne. 68461
<br />KNOW ALL d3EN BY THESE PRESENTS: That Richard and Irene Payne, husband and wife
<br />of Hdl1 County, and State of Nebraska , is eonsirteration of the sum aj
<br />XXSEVENTY FIVE THOUSAND AND NO/104-------------------------------------------DOLLARS
<br />iw hand paid, da hereby SELL and CONVEY un:o Grand Island Production Credit Association
<br />of Hall County, Stott of Nebraska the foflastrinq dcscn3ed prtmascs situated
<br />~ Hall County. and State of Nebraska ,to-:nit:
<br />A tract of land consisting of the southerly 940 feet of the westerly 67C feet
<br />of the Southwest Quarter of the Southeast Quarter {SIJskSE;) of Section 16,
<br />Township 12 North, Range 10 klest of the 6th P.M., Hall County, Nebraska, said
<br />tract containing 14.457 acres more or less, the southerly 33 feet being county
<br />road right-of-way.
<br />The mortgage debt as shown stands as collateral security for certain note or
<br />notes described in a collateral agreement of even date signed by the mortgagor
<br />The mortgage debt may be accelerated at the option of the mortgagee upon the
<br />default or Wort-payment of notes, renewals or extensions provided for in said
<br />collateral agreement, and the ~tartgagee may in such event proceed to exercise
<br />any rights it may have hereunder the same as a default in any other obligation
<br />or covenant contained in this mortgage.
<br />9'ha isetewtiaw h~J to cagey hereby an absalsste tick im fu amepk, iarludiag aI1 tie rightr of hanresteaa' sad datuer.
<br />TO HAVE AND TO HOLD the p-rnszter abasx drsnibad, with aII t1u appatrtenances thcrreaeto bstonging,
<br />ssta fir sa+~ ~/sj awd fa Ins; her ar cheer hens and asrtgxs farssxr, prosulseJ ahtaaJs, sled thew presewts an
<br />tipaue tit espresr cawditiow ihat ~ the said enortgagnr{sj, hat her or Heir heirs, erecTetars, adweisdrhwtars or assigns
<br />sistfl pay ar rasrsr to be paid to the said wsartgagee{s j, tsar iar ar their lairs, rsecutors, adndsastrotars or assigns, flee
<br />t~~ 03.E 75,000.t1{l ~ as f taadt: January 30, 1985
<br />taa'tlr isstyerr.>:t acres ~ the fewer sad rf fe.t of fir rartgagon ~ittew promissory Hate btsrveg erxn date enith these '
<br />/srsartt awd sho8 pey atl cola awd asscasweew+r Ierried upon said real ertate, and aR other tarts, kaies and auersnesnts ''',
<br />~ this wuertynge or the wots ~iici the r eatrtyagr is gecen to secure, bore the saner boomer daliwqusfst, sad j
<br />~ f'swsisct iwsxrrd far the s~uw of S --- lass, if a*Y, ~~r to the said
<br />siee, thew tlsess prsrsats to bs void, others~ise to be aed remain iw jntt force.
<br />i3' iS FURTHT.R .4SitEEFI {sJ That sf tl+ said wewtgayar sJsal; fail to pay suck cases ar procure such iw- ~
<br />sarares, 3iur load sssort~sges slaty pry swch hews assd prorosrr ss'rle assssrawcr; and cis seas sa advawced, mith interest
<br />d -- ps- teat shill Ise rspwd by ,sand ^wrtgagor, awd this mortgage ahaU stand as sscrrity far the sa+ar. {
<br />{i) Yytst a Po ~ atiy of astid >~ oilier p+iucapal or iatnesi, aderw !ht saaee becomes sieve, or a fdilure to
<br />~iits eRy ~ ~ ~ ~i~essrislesslt siwetl cmwr the wkak sssnt aj wsoney hereiw sacxrsd to becrnbe dws aced +
<br />s~ ~ own ~ t4 sjinn of #sr ~-aa 1
<br />' ttl~it l7#! dayt ~ Jdrwary a9 8~.-~ -~ ;
<br />7~. ptaewcwpe of __~~ ~ ~} ...it.:.='_<._`.::;x ~.~.-i'.::.._..
<br />Richard Payne -~-~~-"~'
<br />r ,
<br />f _ ~:
<br />._....._ t.:..zc_._.._....--~----------.... ~
<br />Irene Payne
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