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PCA 73 - tt
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<br />(~fEj38iI~S(~A
<br />tflpan-End: To Secure Present and Future ©biigations and Advances)
<br />t~aruin Stol
<br />Date _.Se~t~mber 29~_198i ______
<br />Mortgagor(s),
<br />of Hai 1 county. Nebraska , in
<br />consideration of Me advastce of the principal sum, plus advances for the purchase of Class B stock andJOr ¢aAfdpatlon
<br />certillcales o1 the Mortgagee as required by Mortgagee's bylaws and by daterminarion by the Mortgagee's Board of
<br />Directors under said bylaws, pursuant to ft>deraf law,' to support the aulstanding Indebtedness, recited in the note iterc-
<br />dnafler daacrfbed and !n r;~rts(derction of future advances made by origag~pe ~a Mgrtgagor{s) or any of them as herein-
<br />atter provided, hereby mortgagee and conveys to dn66 15 draft// Productlon
<br />Credit Aasoelation, whose principal office is at 6r3ud 1 St and Nebraska,
<br />Mortgagee, the following-destrlbed real property in J~1 4 County, Nebraska, subject to olt,
<br />gas, and mineral rtghta owned by parties other than Mortgagor(s); existing easements of record; rcservatlons in United
<br />States and State patents; and the rights of the public In alt hlghwsys:
<br />NEB 25-12-11 and SE~SE# 23-12-11 in Hall County, Nebraska
<br />contenting 2t~0 ar:res, more or less, according to Government survey; together with all of the right, title, and
<br />interest at the Mortgagor(s) in said property now owned, or hereafter acquired, and including all buildings and !mp-ave-
<br />menis now on, or hereafter pieced upon. said real property; including also all water, irrigation, and drainage rights.
<br />This mortgage is given to secure:
<br />(a) A Promissory note dated SPntam6er 29 ~ 1481 ,given by Mortgagor(s) to Mortgagee, in the
<br />pNncipsi sum at T`'." u„°a"e.r r rsucand and Nn[1(l(1--°--------------------------~OLLARB.
<br />plus advatteea for the purchase of Class B stock or participation ceAifieabs of the Mortgsgee n required by Mort-
<br />gagae's bytatrs and by determination by the Mortgagee's Board of Dfrataon under said bylaws. pursuant to laden/
<br />law, to wpporl the outstanding indebtedness, payable with interest according to the temta of said note and any instru-
<br />manb taken in rotfnanclrtg, extending, or renewing said indebtedness or any part thareoh
<br />(b) Any luturc advance(s), with interest, which may be made from time to time by Mortgagee, at its option, to Mort-
<br />gagor(s), or any of them or their successors in title, !or any purpose, including, but not limited to, initial and future
<br />advaitees for the purchase of Clsss B stock and/or participation certificates of the Mortgagee as rcquircd Dy Mari-
<br />gagae's bylsan and by dsterminallon by the Mortgagee's Board of Di-ettors under said bylaws, pursuant to federN
<br />law, to support the outstanding indebtedness, in any amount or amounts, proyidad, howawr, that weh future and
<br />addtional advance(s) shall be so limited tMl the total principal mounts outstanding at any one time shall not exceed
<br />the wm of .. Tvta xPd FjftY Tboucand and No/~00--------------------------'DOLLARS,
<br />plus asid advances for purchase of Class B stack or partk:ipation certificates of Ma Mortgagee to support the InMbt
<br />edneN, and provided further fhe future advance(s) so made shall be payable in accordance with fire terms of a pro-
<br />mtssory note or notes which may be taken to evidence such adwnce(s} ar any part tMreot. (The optional advance(s)
<br />turebt attlharized sir~ll be ennsi+iered additional to cite advanceta) heninaftar ruthari:ed to be made by the Mort-
<br />gagee far the prc4ectian of Etta security ar Morige-=~a'= interest therein.)
<br />,,,,a ,..-Q~ - ---- - - , .n :,:ii wit;:.nbraat o! a!'. obilsial~ts, present =r !uture, aaaurrd ar to ba
<br />is ba - --- ,.: pay::.gr.`
<br />secttra+d turaby,
<br />TM Mortggaaggor(s), and each at thsnt, hereby warrant(s) that they are tae owners of the mortgaged real property; that
<br />ttuy wiY defend the title against ail claimants whomsoever, and they relinquish ail rights of homestead in said premises.
<br />and cowrsant and agrw with the Mortgages as foNows:
<br />(1 ~ 7o pay when due ail texas. Irene, judgments. or asaassmenes whtch may be lawfully assessed against the property
<br />furekt mortgaged, and the rental charges upon any leases assigned as additional security for this mortgage.
<br />(2~ To inwre and keep insured buildings and other improvements now on or wh~eh may hereafter be placed on said
<br />prartliaea to the wtisfaction of the Mortgagee. Any policy evidencing such insurance shall be endorsed with a mortgage
<br />clauw, approved by and in favor of Mortgageo. and deposited with, toss thereunder to be payable to, Mortgagee as its
<br />interest may appear. At the option of Morigagorlsl. and subject to general regulations ut the Farm Credit
<br />Administration. sums so received by Mortgagee may be used to pay for reconstruction of the destroyed ~mprovement(s},
<br />or, df not to applied, may, at the option of Mortgagee. be applied in payment of any indebtedness, matured or umnatured.
<br />saaurad by this mortgage.
<br />(3l To keep all twitdutgs occuprsd and in good repau, and to retrain !rem the commission of any acts of removal.
<br />damolitan or impairment thereof: net to cut ar rerrcove, or permit to ba cut or removed, any wood or timber from said
<br />real property, ar-d to commit or permit no waste or impairment of the value of this security: to continuously pracuce
<br />approved methods of farming on said lands, to prevent erosion and the spread of noxious and damaging weeds. and to
<br />preserve ttte fertility of the soli.
<br />(4) That ire the event Mortgagor(s) tartlet to pay when due any taxes, rental charges upon any leases assigned as
<br />additio+tai security for thin mortgage, liana, judgments, ar asseaarnants lawfully assessed against the property ha:arn
<br />ntoregagad, or fad(e) to maintain insurance as hereinbefore provided, Mortgagee may make such payment or provrda
<br />wGDt lnaurance, artd the amount(sj paid tharafar shah twcorrte a part of the indebtedness secured hereby. due and
<br />patiabla frtunadlataiy, and stub twat interest at the currant rata of the Morttlagea at the time the Mortgrgee makes such
<br />pyaaertt.
<br />ifsy Thai itt flat: event ARvxfgagor(s) datauit(s) in the payment of said principal aunt, or in the repayment o} any addnional
<br />advattC!(itj tttaft+i as fgrein provided, ar of any interest thereon, at the time when the same shell be due, or,with respect to
<br />arty covenant w condition hereof, then. at the option of Mortgagee, the entire indebtedness secured hereby sttali
<br />farthsvith baoome dtu atMl payabb, shalt iuarrnterast at the current rate of the Mortgagee on the date of the default, and
<br />the may irrintfictkt4ely fttretClose this rtwrtgaga or purses anyy ocher avaiNtbM Fegai remedy. in the avant of any
<br />aatfart by ' to enforce c®Itection of the mortgaggee debt, tie Mortgagar(si agresls) that any axpansr ~neurrad to
<br />practrra tx mt an abs_traet of title shall, when paid by Martgsgea. becotru a part of the debt secured hereby- and shat!
<br />ba paid by RR~tor(a) tagethar with aft of the taxattie coats o! such action.
<br />`~iFl+ ~ f V I~+RKY1 fM'~+tFYb'~ N L.'1iFa a Y:n.-i ~r~ ~ 61".~~53'.bt: 36A~Y#Vi of YAt~+gs6 sYQ+briE Yr rfO++~iYPa x ~Yfass 6*:~ Fe dt3Fr.n~nakan Qs Mc€!~2ygc i Saa•v ne
<br />~b r - ~~ ,
<br />«~..c- . , r-iriF.s'a. ~?k""H-' =' ~?sN ~ 4 2___ !~! Me='?~5~~ !""-Gat W ~?x'!.+!g! kY ~M4t ^_( _ s . ?t3! 4 ~.,ri anA - - t ~,Fafr.~n :s~t.l,cate•
<br />_ ".w~a.arrs doz r~vm i.e,#e, AC+<,e s6:, a, +mss~slwR__ hv.,,gy, i;-i0 `, as n•nsepsF ~~ii,;r=ga~s, a-s« na rk• ,4r ,,.- a.u .' -~.
<br />F~+t N bJ~S n v'+n eerti,+E.+lpt .x! :!m A§:."dsy?n m.f±Ma•...z.f 0, Sec !~+.. 1 ,Ir4; -- cc5 Fe+^F C•a9. l,.t er t9" x • t>•4rA ~ ,+~ s. a ,. M Vua.--. a ,., n,. c ,..~.
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