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<br />MORTGAGE and
<br />SECURITY AGREEMENT
<br />7 and SECURITY AG~2~tEh~iEfVT
<br />TH_S MORTGAGE/is made this day of July lg8oj
<br />by T 5 E Cattle Company
<br />("Mortgagor"} whose address is est ap2ta venue, ran Is an ,
<br />Nebraska 68801 , t0
<br />American AgCredit Corporation, a Delaware corporation ("American"),
<br />whose address is 3033 South Parker Road, Suite 720, Aurora, Colorado
<br />. 80014.
<br />Mortgagor hereby mortgages and conveys to Amerlcan the
<br />following-described property situated ir. the County of Hall ,
<br />State of Nebraska (the "State"}:
<br />See Exhibit A attached to and by this reference made a part
<br />of this Mortgage
<br />Together with: (a) all improvements now or at any time hereafter
<br />thereon, and privileges, appurtenances, fixtures, rents, issues, and
<br />profits relating thereto; (b) water, ditch, and reservoir rights or
<br />stock, however evidenced, appertaining to or used in connection with
<br />the property; (c} any interest now owned or hereafter acquired by
<br />Mortgagor in any road, street, or avenue (opened or proposed), in
<br />front of or adjoining the property or in and to any sidewalks,
<br />alleys, and strips and gores of land adjacent to or used in connec-
<br />tion with the property; and (d) all right, title, and interest of
<br />Mortgagor in and to all machinery, apparatus, equipment, fittings,
<br />and fixtures of every kind and nature whatsoever, all furniture, fur-
<br />nishings, and other r_rsonal property now or at any time hereafter
<br />attached to or used in any way in connection with the use, operation,
<br />and occupation of any buildings or improvements located on the prop-
<br />erty (the above-described property, appurtenances, and privileges are
<br />subsequently referred to as the "Property"}. Mortgagor warrants the
<br />title to the Property except for those items listed on Exhibit B
<br />attached to and by this reference made a par*_ of this Mortgage. This
<br />Mortgage is for the purpose of securing the payment of a promissor/
<br />note (the "Note") of even date herewith in the principal amount cr
<br />$7,500,000.00 made by T & E Cattle Company , and payable to the
<br />order of American as provided in the Note, with all unpaid principal
<br />and unpaid accrued interest due and payable on July 15, 1981 , and
<br />all obligations created under any renewals, extensions, and amend-
<br />ments to or substitutions for the Note, or any other instrument exe-
<br />cuted in connection with or pursuant to the Note (subsequently
<br />ref erred to collectively as the "Obligation"}. This Mortgage secures
<br />present and future advances made by American to or for the benefit of
<br />the Mortgagor or any other maker of *_he Note, and the lien of this
<br />Mortgage relating to all such future advances shall relate hack to
<br />the date of this Mortgage.
<br />THE MORTGAGOR COVENANTS AND AGREES AS FOLLOWS:
<br />1. Mortgagor will promptly pay the Obligation evidenced
<br />by the Note in accordance with its terms and perform each and every
<br />agreement and condition contained in the Note and this Mortgage, or
<br />in any other instrument which may be executed in connection with such
<br />documents.
<br />2. Mortgagor will pay immediately when due and payable
<br />all. taxes, special assessments, water and sewer rents or assessments,
<br />and all other charges imposed by law upon or against the Property,
<br />and. to deliver to American, upon demand, receipts or other evidence
<br />of such payments.
<br />3. This Mortgage is subject and subordinate to a mortQaQe
<br />to The Prudential Insurance Company of America in the initial amount of $700 000.00,
<br />
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