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<br /> PCA73-11 REAL ESTATE MORTGAGE . .��- .��....--�'-` � � . . �. �
<br /> ��•�3� NEBRASKA ,
<br /> 781 �O��O� (Ope�-End:To Secure Present and-Future Obligations and Advances)
<br /> oece_��rch 22, 1978
<br /> Peterson Bros. Distributing Co. , a Nebraska Corporation, ^ �
<br /> . � _ , Moetgagor(s),
<br /> a� Hall co,,,,ty, Nebraska ��
<br /> �consideration of the advancv of the prirrcipal sum reeited in the note hereinafter described and inconsideration of luture
<br />� edvancas made by mort�egee mortg go�s) r anY of t yem as haroinalter provided,hereby mortgages and conveys to: �
<br /> (:rnmnprt*i a� Na -_�-�S t C;O.
<br />. � whose�principal offico is at �E:S���� �ra�-�n�"rr-an� .
<br /> the toliowin described real ro ert in _ $ . Ne6raska,Mortgagee,
<br /> 9 P P Y ���}-- — County. Nebraska:
<br /> subjact to oil, gas, and mineral rights owned t�y partios other than Mortgagor�s): existing easements ot recard: �
<br /> � reservations in Unitad States end State patents;and the rights of the public in all highways: �
<br /> Lot One (1) in Connell Industrial Park Second Subdivision, being a part of
<br /> the East Half of the Southwest Quarter (E'� SW'�) o£ Section Eleven (11),
<br /> Township Eleven (11) North, Range Nine (9) West of the 6th P.M. , in Hall
<br /> County, Nebraska, as surveyed, platted and recorded.
<br /> _ },
<br /> . eontaining_�_acres,more or loss,according to Government survey;together with all of the righL title,and
<br /> - �inlorest of the Mortgagor(s) in said property now owned, or horeaf[er acquired, and including a0 buildings and �
<br /> improvements now on,or hereatter placad upon, said real property:including also all water,irrigation,and drainage
<br /> . .rights. .
<br /> . � Thes mortgage is givo�to secure:
<br /> (a)A promissory note da ied_ March 22. _1...�7�8 iv p�rtsay_�s]t�Mortgagee.
<br /> � � . � in the principal sum ot sln�—$ltlldE'Ed—�1�RLy f�'u�S�l�—driC� I�a�YVV— DOLIARS. ��
<br /> . � payabte with interest according to zhe terms o!said note and any instruments taken in refinancing,extending,or
<br /> renawing said indebtedness or any part thereof;
<br /> � � � (b)Any futura advance(s). with interest, which may bo made(rom time to time by Mortgagee,nt its option,to �
<br /> Mortpagor(s), or any of them or their succcssors in title,1or any purpose in any amount or amounte,provided. -
<br /> � howevar,that such future and additional advi�p ce(s),shall ¢so in L� od thaL th to al in � unts outstanding �
<br /> - �� . �at any ona time shalt not excoed ihe sum of-1W0 Rltll�r0� L�Ol1S8II� 3di1� I�[8���e---bb��ARS
<br /> � � . .. and.provided further the future advance�s)so made shall be payabte in accordance with the terms of a promissory � � � �
<br /> � note or notes which may ba taken to evidence such�advance(s)or any part thereof.(The optiona�advance(s)herein �
<br /> - .�authorized shall ba considered additional to the advance(s)hereinafter authorized to be made by the Mortgagec for �
<br /> . � the protection ot tho security oi'Mortg�gee's intorest tberein.) �
<br /> � -�This�mortgage to be void upon the payment in full with interest of any obligations,present or futuro,secured or to be �
<br /> �� secured hereby. � �
<br /> . ?he�Mortgagor(s►, and each�of them,hereby warrant(s)that they are fee ownors of the mortgaged real proparty;that � � �
<br />� � they will dafand tbe title against all claimants whomsoevor,and they relinquish all rights of homestead in said premises. � �
<br /> end covenant and agroe with�the Mortgac�ee as}ollows. . - � � . � . ��
<br /> (7 J To pay when,dne ell tazea, liens,judgments,or assessments which may ba lawlully assessed against thc property � . .
<br /> heroin mortgaged. and the rental charges upon any teases assigned as additionat security tor this mortgage. �
<br />� � � (2)�To insure and keep insured buildings and other improvements now on or which may hereafier be Dlaced on said � � ��
<br /> premisos to tho satistaction ot the Mortgayee.Any poticy evidencing such insurance shall be endorsed with a mortgage � �
<br /> . elause,approved by and in favor of Mortgac�ee,and deposited with,loss therounder to be payablo to,Mortgagee as its � �
<br /> � . interest may appoar. At the option of Mortgagor(s), and subject to general regulutions of the Parm Credit � � -
<br />. � Admi�istretion.sumsao recoivad by Mortgayoe mny be used to pay for reconstruction of thedestroyed improvemenqsC .
<br /> or,if not so applied;�may.at the optio�of Mortgagee,be applied in payment of any indebtedness,matured or unmatured.
<br /> � � socured�by this mortgage. . . � . - .
<br /> - (3)To keep aIl buildings occupied and in good repair, and to refrain irom the commission ot any acts of removal. � �
<br />�� � demo�ition or impasrmant thereof;not to cui or remove,or permit to be cut or removed,any wood or timber from said � . '
<br /> � roel proparty,and fo commit or�permit no wasto or impairment of the vulua of this security;to continuously practice �
<br />. � approved methods o1 farming on said Iands,to prnvont orosio�ond the spread ot noxious and damagi�g weeds,and to �
<br /> prosesve the fertiliiy of the soiL . �
<br /> . (4)That in the�ov�nt Mortgagor�s) }ail(s) to pay when due any taxes, rental charges upon any leases assigned as � � �
<br /> addit:onal sacurity for.this mortgage,�liens,judgments,or assessments lawtu�ly essessed against the propeny herein � � � .,
<br /> �mortgeged,or fail(s)to maintain insurance as heruinbefora provided,Mortgagee may make such payment or provide
<br /> �. sLch�insuraoce.artd tba amount�s) paid'thereforsha0 become a part ot the indebiedness secured hereby,due and � �_._ �'�
<br /> payable immediately,and shall bear interest at�the current rata ot tho Mortc�agee at the time the Mortgac�ee makes such � � f.,. ,.-�:,i
<br /> payment.
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<br /> (5)That s�tbe everfi Mortgagor(s�de}autt(s)in the paymant of said principat sum,or in the repaymont of any•additional �
<br /> Adpsnca(s)madsas herein provided,orotany intoreat thereon.a4the time when tho same shall be dae,or with�,respect to
<br /> - en,y,coveasnt�or conditioo hereof, the��,at the�optioo oi.Mo�tgagoe, the e�tire i�idebiedness secured heicby�-shall � � "z
<br /> -- }qrthwith Hacome 6ue and payablo,shal)bearintCres[at the curront rate o(the Mortgagee on the date of the de(ault,nnd �,�..r
<br /> � tFe Mortgagoe meyimmediately forectose this mortgage or pursue any other available legnt remedy.In tha event of any � r�"�,� �
<br /> � 'aetidri��tiy Mortgb'gee to enfolce'colleetio�-of the mortgage debi,tho Mortgagor�s�agree(s)tbat any expense incurred to � .
<br />� �� '� "prOCyfe Or B7tt8nd ariab4Et8Ct oi titlB Shell;when peid byMortgeqeB,become a part of the deM xnr.ured he.e6y,and shall i � � � �
<br /> ba ppid,by�Nlortgagor(s)�cogatf+er with°aIl��of the�.taxable costs ot�such aetion.� . . �.
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