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<br />REA! ESikTE l48R7GA6E ~fraa Fts 2oa (ttev. 1-t~)
<br />~~~~~~ mats July 23, 2480
<br />Philiv D. I:owrv and Maxine-I. Lowry, husband and wife ` "
<br />. mortgagors-,-
<br />of Ha11 crounty Nebraska in consideration or
<br />the advance of the principal sum recited Sn the note hereinafter described, receipt df which is .acknowledged, hereby
<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 />NorCgagee (subject to oil, gasc and mineral rights owned by parties other than ttdrtgagors; existing easements of"
<br />record; reservations In united „Cates and State patents; and the rights ct the public in all highways), theZOlIowirtg-
<br />desorlbed real estate In Hall County, - Nebraska ,
<br />SEC. TNP. R8.
<br />N~ 2~W~y (except a tract of land described as follows:
<br />Gainmencing at the North Quarter corner of Section 33,
<br />[hence South on the Half Section line a distance of 500
<br />feet, thence West and parallel to the North Section line
<br />a distance of 34$.5 feet, thence North and parallel to
<br />the Half Section line a distance of 500 feet, thence
<br />East on the Section line a distance of 348.5 feet to
<br />the point of beginning) ------------------- 33 lON 9 [d 6th P.M.
<br />' ntal.^.ing 75 acres, mere ~ - ~oget^ar wi• _ :alt, -rest
<br />^.Ow owned Orr *'ed) Ot the "15. , ~a.~ , .,,.ei s, t it gs, 1 e=Verve. t.., ,. t..ar as.
<br />or appurteranezs~-thereon Ycr hereafter pLaceG thereon; ail.vacer,~!rri gation, snd rralnage ri~li rs : th? tenements,
<br />`aradi Lar~nt», ~ 'bbnrLerances Leer%t-a :wd t ~ents, ~ssves, ~rups, and profs_ts ar]s ing =; om said .ands; end i
<br />-. Lhe Mortgagors+ ripfiis In the public domain are required by Mortgagee for security Furpo ses) ;a leases, permlte;
<br />- licenses, crpri vi loges, appurtenant r~ non appurtenant tc s d mort>aged premi sas, ne'w or hereafter issvei, extended,
<br />or renewed to the Mortgagors by the United States or the Mate in whi ct the abe ve-descr LDei! prover ty is located :..
<br />sry~ dapartmen t, bureeu, or agency thereof.
<br />t
<br />i :4t1S mortgage is given Le secure a promisSOry note of even date herewith, exeru ted by Ma rtgagurs :~~ a"tgaP,ee, !:;
<br />~ the prlnripal sum of EIGHTI-FOUR THOUSAND AND NO/100 - - - - - - _ - .. - - - - - - - coll.pes,
<br />pdyahle with interest according to *.he terms eY said note, the final payment Ueing due and payable on the first day
<br />y n*~ March, 2000 fills conveyartc.e shall De '.mid upon the payment of Bald proml ssoty note.
<br />": ~ This mortgage Ss subl ect to the provl dons of TnE FARM CREDIT ACT and all ac W; Nnendatory hereof or supplemental
<br />; thereto. The proceeds oY the loan secured hereby IvSL be used Yor the purposes specified in Lhe Mortgagors+ appli-
<br />,~ I cation for said loan and authorized by sa1C pct.
<br />;! ~ The Mortgagors, and each of them, hereby warrant that they are Pee owners rf the mortgaged real property; chat [hey
<br />will defend the title against all claimants whomsoever, a<td that said proeercy is tree from all encumbrances; that
<br />they wl ll keep sll the improvements, fixtures, and appurtenances occupied and in good repair and permit no arts cf
<br />waste; and they will rellnqulsh all rights of homestead Sn said prert+l ses, told covenant and agree with the !for tgagee,
<br />-~~ f as follows:
<br />!i
<br />°` ~ (1) 'feat they tvlil pay when tlua all taxes, liens, Judgments, or assessments which may be lswtully assessed agaln:,t
<br />~ the property herein mortgaged.
<br />(2) 'that they will insure and keep insured buildings or ether improvement: now on Or which may hereafter ba placed
<br />on saSd premises to the satlstactica c the Mortgagee, such 1 ranee policy shad be endorsed with a mortgage ciao.,,.
<br />] with the loss thereunder to be p>kyab le rn the Mor Ggagse, Airy cams reDe lied may t!e used to pny for *•ac ors!ruct!en
<br />( o. Ghe destroyed improvements; or, if nut so appl]ed, may, at the option cf the Mortgsgss, to applied ;r, payment .:,
<br />( any indebtedness, matured or unmaturad, secured by this ;?ortgage.
<br />i
<br />(3) To Pay all rents, tees, or charges now due or to Decuhts due under the terms of esch lease, permit, license, ~~
<br />6 privilgge_on the public domain which Ss appurtenant or ncnappurtanaut to the mot tgaaed premises, which hss Been
<br />-, 3 issued, extended", or renewed by the United States or the state in which the ahove-QeserlDed pr-opert.y is loca.t ed; amt
<br />_ to perYOrm and observe every ant, eovenarlt, cendltlon, and stipulation naaessary to keep eaoh of the cams In !;;rd
<br />5tahding; and-to take every-aec essary step to secure the reissue, renewsi, or extend on of each of thew same.: end to
<br />?; ~ assign, waive, pledge, or endorse to the Mortgagee each lease, perm]c, ILcensa, or privilege if Mortgagors' r1 s!us
<br />1n public domain are required by Mortgagee for sscuri ty Vurpeses.
<br />" ) (A) That in the event the Mortgagee 15.a party to ally ltti ;anon aff ecting the security cr the: flan o r. c:ort-
<br />gage, including ally salt by Ghe Mortgagee Co foreclose ch is mortgage or any suit in whl D!t the Mortgagee may De t::yue1
<br />a party 3efets4atit In which it !s oD li gaCed to prote r, t. its rights or li an, Including condemnation and Dsakrup[._y
<br />precaedings, the Mer tgagee may incur expenses and advance payment :'rr abs Lrac r, fees, attorney '~., r , ,., .,,
<br />--, ) extant pronihited 6y law), posts, expenses', and other charges. -
<br />(5} Tnac in the ayont the Mortgagors Lail to pay when due any !axes, ++en- +~tdgr n-' or arse.>,+er,t
<br />maldtain ii7surance as nerelnbefore-Drovided, or fall to Pay runts, fees hul a- s+dar tt ec ;rs 7-+y-
<br />- nermlt,-lloenso, or drlvllege: or Mortgaged is reyul_A to it !t ~ .Ib- ra fe:+ t--
<br />aXpanne3, end @ti!Cr ..merges inCOP.neC Lion with 11 LigXtl ail, Mur g3g.C may ..r{, P.IDh , t, ,C.; ^.r y, Gt: .e
<br />- ar ioour Such obligation, amp the amounts paid therefor shall +:~ -. k-t - h- t L. •'d 5 ,~ ~~
<br />:rid peyabla Smmedlsteyy, and shall best in tarest Trom who ds ~z' e~G n+c„~ a~ r~,; .uue +°~ta !r.. ..i ~ _~ta,;•
<br />in the noCe.
<br />nc ~.: - -
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