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<br />iQ-+-i1~1NS. r1['Ir~e~edelaea '~hnr d~MemAtD thuttman elndf feFfna 6 WoPf, Walton. M!: 68q{,I
<br />KNOW ALL LIEN BY THESE PRESENTS: That Lawrence Lockhorn and Ethel Lockhorn
<br />husband and wife
<br />of Hall Comity, and Statr of Nebraska , in consideration of the great of~
<br />Seventy five thousand and Noh ~---------------------------------------------- DOLLARS]
<br />is hand paid, do hereby .SELL and CONVEY canto GRAND ISLAiyD PRODUCTION CREDIT ASSOCIATION ~
<br />r
<br />of Hdil Couxty, State of Nebraska the following described premiees ss6uated!
<br />in Hai 1 Corenty, and State of Nebraska , eo-wit: f
<br />Southwest Quarter (SW;) Section 29, Township 12 North, Range 12 West of the
<br />6th P.M. Nall County, Nebraska
<br />The mortgage debt as shown stands as collateral security for the stated dollar
<br />amounts of certain note or notes described in collateral agreement of even date
<br />signed by the mortgagor, plus advances made for the purchase of Class B stock
<br />and/or participation certificates of the mortgagee, required by Section 2.13{f)
<br />of the Farm Credit Act of 1971, as amended (Public Law 92-181--federal law), and
<br />additional Class B stock and/or participation certificates as authorized by
<br />Section 2.13 (h) of said Farm Credit Act of 1971, as amended, as provided in
<br />mortgagee's Bylaws, to support the indebtedness evidenced by said Note(s). The
<br />mortgage debt as shown will also stand as collateral security for renewals or
<br />extensions of said notes referred to above and described in said collateral
<br />agreement of even date herewith. The mortgage debt may be accelerated at the
<br />option of the mortgagee upon the default or non-payment of notes, renewals or
<br />extensions provided for in said collateral agreement; and the mortgagee may,
<br />in such event, proceed to exercise any rights it may have hereunder, the same
<br />as a default in any other obligation or covenant contained in this mortgage.
<br />The tintentan being to convey hereby an absolute Ntis in fee simple, including all the rights of homestead and dower.
<br />TD :IAMB AND TO Ht2LD ties premises above describes, with all the appurtenances thsrernto belonging,
<br />unto the said tnr»tgagee(s) and to his, her os their heirs and assigns forever, provided at-,vays, and these presents era;
<br />span the espreas canditiv,e that if the said martgagar(s), leis her ar their heirs, esacutars, administrators or assigns;
<br />shall pay or cause to be paid to the said mortgagee(s), his, her or their hairs, executors, administrators or assigns, ths9
<br />principal sum of $ 75,000.00 payable as follows, to wit: December 30, 1980
<br />avith interest according to the tenor and effect of the mortgagors written promissory torte bearing even date with tkessj
<br />presents and shaA pay all taxes and assessments levied upon said real estate, and all other tares, levies and assessmentt
<br />levied upon this mortgage or the note which this mortgage is g~en to secure; before the same becomes delinquent, and=;
<br />beep the buildings on said premises insured for the sum of $ __ toss, if any, payable to the raid,,
<br />mortgagee, then Chest presents to be void, otherwise to bs and remain in full force.
<br />IT IS FURTHER AGREED (r) That if the said mortgagor shall fail to pay suck texas or procure such in-
<br />surance, the said mortgages may pay such taxes and procure such iruwanrs; and fhe sum so advanced, with intsrest~
<br />qt -- per cent, shall be repaid by said mortgagor, and this mortgage shall stand as security for the same.
<br />(2) That-a failure to pcy atay.of said money, either principal or interest, when tht ssme bscontas due, or a failure toy
<br />comply stn~th any: of- tGt foregamg-agreements, shat! touts the whole sum of money herein secured to become dnr and:
<br />cotlectibrlt at once at the vptiott of thr +nortgages.
<br />Sighed this 22 day of April
<br />In pnscnre of
<br />. r9 80
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<br />_~ , r. c.x..t. ~,.a.-t
<br />., ~_-- ~r-.-
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<br />Lawrence Lockhorn
<br />~ -.
<br />Et~rel Lacknorn
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