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<br />FiE13f_ E3FRTE MGRTs;AGE
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<br />(Open-€nd: To Secure Present and Future Obligations and Advances)
<br />Data July 24, 1920
<br />tAeierside Farms, Inc.
<br />Mortgagor{s),
<br />of Hall Nebraska
<br />CauntY, , in
<br />consideration of the advance of the principal sum, plus advances for the purchase o? Ciass B stock and/or participation
<br />certificates of the Mortgagee as required by Mortgagee's bylaws and by determination by the Mortgagee`s Board of
<br />Directors under said bylaws, pursuant to federal law.• to support the outstanding Indebtedness, recited in the note here-
<br />inafter described and in consideration of 4uture advances rgade by fy}opgag~e to Mortgagor{s} or any of them as herein-
<br />after provided, hereby mortgages and conveys to ra^ S an Production
<br />Credit Association, whose principal office is at rdn S an ,Nebraska,
<br />Mortgagee, the fallowing-described real property in Ha I County, kebraska, subject to oil,
<br />gas, and mineral rtghfs owned by parties other than Mortgagor(s); existing easements of record; reservations in United
<br />States and State patents: and the rights of the public in afl highways:
<br />NW 2-12-10; SWt;, i2-12-10; N%NW', 13-12-10; SWt, 13-12-10 All in Hall County, NE
<br />containing 560 acres, more oe less, according to Government survey; together with all of the right, title, and
<br />interest o! the Mortgagor(s) in said property now owned, or hereafter acquired, and including all buildings and improve-
<br />ments now on, or hereafter placed upon, said real property; including also all water. irrigation, and drainage rights.
<br />This mortgage is given fo secure:
<br />a A Promissor note dated July 24, 1980
<br />( ) y - .given by Mortgagor(s) to Mortgagee, in the
<br />principal sum of TWO Hundred Si xtay Thraa Thnu~anri anti Nn~l(1f1_________________DOLLARS.
<br />plus advances for the purchase of Class B stock or participation certificates of the Mortgagee as required by Mort-
<br />gagee's bylaws and by determination by the Mertgaaee's Board of Directors under said bylaws, pursuant to federal
<br />law, to supp~rtthe outstanding indebtedness, payable with interest according to the terms of said note and any instru-
<br />ments taken in refinancing, extending, or renewing said indebtedness or any part thereof;
<br />(b} Any future advance(s), with interest, which may be made from time to time by Mortgagee. at its option, to M~rt-
<br />gagor(s), or any of them or their successors in title, for any purpose, including, but not limited to, initial and future
<br />advances for the purchase of Class 8 stock and/or participation certificates of the Mortgagee as required by Mort-
<br />gagee's bylaws and by determination by the Mortgagee's Board of Directors untler said bylaws, pursuant to federal
<br />taw, to support the outstanding indebtedness. in any amount or amounts, provided, however, that such future and
<br />additional advy pea(s) ~{tati a so it'p~ited itiat the taia~pri{l~~p i amounts outstanding at any one time shat! ncf exceed
<br />?he sum of ~ rr2A Hun~r2a I n0u5d#id antl iV0! I U~ -------------------------'---r.nb!_A.°.5,
<br />pies said ar:rances #or purchase a# Ciass B stack ar participation certificates of the Mortgagee to support the indebt-
<br />- --ss, d ---Y - -- rn- u#ure t3dvancets) so made shah be payable in accordance with the terms ar a p:o-
<br />mssory note or notes which maybe Taken to evidence such advances} or any part thereof. (The optional advance{s}
<br />herein authorZed shat! be considered additional to the advance{s) hereinafter authorized to be made by the Mort-
<br />gagee for the protection of the security or Mortgagee's interest therein.)
<br />This mortgage to be void upon the payment rn full with interest of any obligations, present or future, secured or to he
<br />' secured hereby.
<br />The Mnrtgagorls), and each of sham, hereby warrant(s) that they are tee owners of the mortgaged real property; that
<br />they will defend the title against all ctaimarts whomsoever; and they relinquish all rights of homestead in said premises,
<br />~, and covenant and agree with the Mortgagee as follows:
<br />~, (~ I To pay when due ail taxes, liens, judgments. or assessments which may he Iawtuliy assessed against the property
<br />herein mortgaged, and the rental charges upon any leases assigned as additional security for this mortgage.
<br />I, (2) 7o htsta-a and heap bsured buildings and other improvements now on or which may hereafter be placed on said
<br />premises to the satisfaction of the Mortgagee. Any policy evidencing such insurance shall be endorsed with a mortgage
<br />clause, approved by and in favor of Mortgagee, and deposited with, loss thereunder to be payable to, Mortgagee as its
<br />' interest may appear. Ai the option of Mortgagorisl, and subject to general regulations of the Farm Credit
<br />Administration, sums so received by Mortgagee maybe used to pay for reconstruction of the destroyed improvement(s);
<br />~, or, if not so applied, may, a2 the option of Mortgagee. be applied in paymem of any mdobtedness, matured or unmaturad,
<br />' secured by this mortgago.
<br />~' (3) To heap all buidings occupied and m good repair, and to refrain from the commission of any acts of removal,
<br />demohtian or impairment thereof: not to cut or remove, oe permit to bu cut or removed, any wood ar ember from card
<br />reaE property, and to commit or permk na waste cr unpaumsnt of the vacua of this security: [e continuousiY practice
<br />appr cued methods at farming on said lands, to preuaru erosion acrd the spread of noxious and damaging weeds. and to
<br />preserve she fart iaty of the soil. - -
<br />(4) That in the event Mortgagor(s) faii(51 [o pay when due any taxes. rental charges upon any leases assigned as
<br />additions! security for this mortgage, liens, judgments, or assessments lawfully assessed against the property harem
<br />mortgaged, or lailts) to maintain insurance as hereinbetore provided, Mortgagee may make such payment or provide
<br />such insurance, and the amounts} Paid therefor shall become a part of the indebtedness secured hereby, due and
<br />payable immediately, and shah bear interest at the current rate of the Mortgagee at the time the Mortgagee makes such
<br />payment.
<br />- (5) That in the avant Mortgagogsl defaultls) in the payment of said principal spin. or m the repayment of any addmonal
<br />advartcets) made as herein provided. or of any interest thereon, at the time when the soma shoji be due, or with respect to
<br />any covenant or condition heraol. then, at ehe option of Mortgagee. the enure indebtedness secured hereby shag
<br />forthwith became due and payable, shall bear interesx at the current rate of the Mortgagee on the date of the default, and
<br />the Mortgagee may immediately torecfose this mortgage or pursue any other avadabie legal remedy. in the event of any
<br />' action by Mortgagee to enforce collection of the mortgage debt, the Mortgagorlsl agree(s) that any expense incurred to
<br />procure a: ax^and an sbstracS of t,'ti2 shall, wham paid by Mortgagee, become a part of the debt secured hereby. and shall
<br />be naid by Mortgagnris) mgest,ar with aft of the t..xab!a salts :.. ,,.,,.. ~.,ticn.
<br />'Heierence In aavnncee In. yprrbaae nl Cleaa a mock antl,or perbcrpabon cerulr<elez ul Mongnynv reVUrrea by Morrgoyee a cyrexs aria oy uererrn,napon oy Morrgng«„ a Boaru u.
<br />Dueciors untler nnlG bylaws. p rnuent to IpOeral law e> uaea rn ibra Marlpage. n,eanr rip eavan.ns rot y r M - a. B ,taco aria. or p n
<br />regqupp pn 2.t]S'ie rsFSrm Cr¢ VACl of ~ytt.a mentlaC.!PUDIK „aw - etS. ao grout rn Merrungeo~n byo wa au nlxo o. urcl.a of r oneru lnae PCrocn
<br />a ~ y c celron car. rca.,a a the Morgtyayee au orr-e Y .alien . t I I cr into ca•r. reo~~ .,ir ~r rvr. n, a~rr.noeu ., c ,r.~u..V rn r"o q y • t v owe
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