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1~-iVL Lit~lE !~!'!'OaO~~~IO 7tle Q~r) Huffman anA Felton B Wort rYa1Nn. Ne. 68x61
<br />R1tQW ALL YEY BY THESE PRESENTS: Tlwot James C. Lands and Sharon K. Lantis
<br />husband and wife
<br />of Hall Cowaoty, awd Statr of Nebraska iw co~ridrratiaw of eks crow
<br />XX TH:RTY FFYE THOUSAND A!!D lVOll~---------------------------------------------
<br />«w ~ir.J paw, do rkrrr~v $~ awd Cavv,~}' anwro GRAND I5LAN0 PRODUCTION CREDIT ASSOCIATION
<br />~ ~ Hall z€~ty .S'.atr of (Nebraska t&a f~rsdwg desrrs'~ttd Q~e~iras .tie~wted~
<br />is Hall ~',,,wwh,~, ud Srsor a# Nebraska , so mit:
<br />Part of the Northeast Quarter (NE;) of Section Fourteen i14), Township Eleven {11),
<br />North, Range 12, hest of the bth P. M., Nail County, Nebraska, described as follows:
<br />Beginning at a point an the North line of said Northeast Quarter said point being
<br />315 Feet West of Lhe Northeast corner of said Northeast Quarter, thence running
<br />Masterly along Lhe North line or" said Northeast Quarter, a distance of 562 Feet:
<br />~ thence deflecting left 900,2~~ and running Southeasterly ti distance of 497 Feet;
<br />41we~ice deflecting left 39038' and running Easterly a distance of 535.8 Feet, thence
<br />deflecting left 87o20'3O° and running Northeasterly a distance cf 497.53 feet to
<br />the point of beginning and tonLaining 6.263 acres, more or less of which 0.425 acres
<br />a affil'! 8r less 1i 0ctup~ed by iQL'rfty Road right of wdy.
<br />The aortgagt debt as shorn stands as collateral seturitt fur the stated dollar amounts
<br />of tine of credit notes described in collateral agreement of even date signed by the
<br />fir, alwif any future advances tisissich may be made faun time to time prior to due
<br />data of said notes under terefs thereof, a+fftth will include, but not be limited to
<br />`; initial and future autoevttis advances for Lhe purchase of Class I1 stock and; or
<br />¢artlCipaLif3d1 Certificates of Lhe mortgagee regs~~red by Section 2.i3(f) of the Farm
<br />trldst Act of 1971, as afiended (Public tar c2-131--federal lax), and additional
<br />Class fi s~ocic and/or taartitipat.ion certificates as aatharized by Section 2.13(h) of
<br />i said Fame Credit Act of 1973, as atnernded, as provided in raorLga9ee's bylaws to
<br />sf#pporL the indebtedness evidenced _*.y ;nid rrsrtes. Sn~d ;nartgage debt as shown will
<br />f also stand as tot3attral security rcr renewals gar extensions of said lire of credit
<br />notes referred tp abtm artd described :n said collateral agree!?aeent cf even date
<br />herewrith. The terws and previsions of this iaaragrnph DO ti0T C.O4iSTITUTE A
<br />CONNiTMEtiT iiX Tl!£ A550CiATION '~ aRAKf Fl9T?,7RE =.DYANCES. ?he nwri~9e debt may De
<br />accelerated at tlse opiaon of ti:e mortgagee upon ttse de#auit or rxrn-payment of notes.
<br />renewal, gar a>>°tensi~ns, provided fpr in said collateral arlreerAent; and the
<br />~ eely, ~n ss~ch evsnt, proceed t~ exercise any rights i*. may have hereunder
<br />the safr as default esn any other osiligat'itm.
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