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TO HAVE AND TO HOLD alI and aingular the said gooda, chattels
and personal property above bargained and sold, or intended ao to be, unto
the said mortgagee, its successors and assigns forever.
And the said mortgagor, for itself, its succeseora and assigna,
covenants with the said mortgagee, its successors and assigns, that it is the i
lawful ovner of all and singular the goods, chattels and personal property ~
above bargained and sold; that said property ie free from all encumbrances; ~ ~
that it has good right to sell the same as aforesaid; and that it shall and
will warrant and defend the same unto the said mortgagee, its ~uccessors and ~
assigns, against the lawful cleims of all aad every person or persons whomsoever.
PROVIDBD ALWAYS, and these preaents are upon the express condi-
tion, that if the obligor shall well and~truly pay unto the said mortgagee, its
successors and assigna, the aggregate'sum of FIVE HUNDRED THOUSAND AND NO/100
DOLI~ARS ($_500,000.00 ) secured by a cer-
tain promissory note of Which the following, in
words and figures, is a true
and correct coFy:
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=~~~~a ~ltamj, ~a~do, June 24. f~ 66 ~ '
: Payable 510,000 per moath to include principal and interest for one year beginning Jul. 24,~'~~
• 19b6, then to be $10,000 plus interest monthly beginning July 24, 1967 vith final pay t:-:;:~~
consistinA of balance outstandin~ as ot Julv 24.~~jg~e. ~r
. ~e~~rdlY pwmue b p~ b t!?~ ordst o! THE FIRST NATIONAC BANK OF id(Ai~I/, at !b baaktnQ l~ow~ fn I?t{o~o1, ~IorWa, ~
~ t ~ ~
Five Hundred Thousand Dollats-------
toq~tlar ~r[th interat tb~rwn tro~ _ r~ .,;'•i; t'~~
dato at ti~ tdt~ o~y Mr annum p~atabl•--- ~o0.:S.~'
~.,.T.--...~ y~!' _
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Jl~ odlat~ral ss~rtlY lor tb~ paYm~Yit oi oU wms • h~nut?drr c~d d an dnd cll 1labWliM and obN i'.~. !
- underai or a~ a th.m, io tb. r Qatlon. of
9~~ Y t~?hetb~ 4l~ or wq pr ~,y~ . r~
. dus, wczir~a cr un~ecur~d, tM lol~owieq iR~P+ K T ~ b»~ ~ds p o~itd ~ . dw or to b~oas~y--
. . . . .?tw mxt fs h~r.bt d~dq~d • b d~. Bank, .h: ~ , ? - ~ . _
' i~-~. • - • : ~ ~c , ~ - :;i i~.~ .i~ ~.'1t=°~ - f? 1='t~r..
- ~ ' ' ' ~ Cha • 1 ort . ~ ~ ~ . ~ _.-~r:_...- < -•,~_"_'l:.:"--~~ ~t~.:= j'
. , tte M gage•oo~ Cattle~ `E - ~
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= . . : : . ' .~L~` -i'_ .~I ~lw. •y..~ Jl..~....~ '..:~~~...or`.Li•:•.~~ji'f
whole of the rnllateral aec~uily or any part~lhereot, or anp substituls theretor or addition Wereto, or anY oWer y[operiy or w
aecurities o) any ot the parties liabla tor the paYment hsreo! than in ths posseasion of ihe Bant, at public ot pNrate sale, at : i~
auch price oc prices, ~d upon auch ternu and eondtt[ons as the Bant in its sols and abnolute disaetion maY determine, without
demand, ad~ertisement, or notice ot anY kind, all of which ~e hsrebr enpreaslr walred, and to applT Ihs prooeeds remalning ~r
ilter deducting adl costa ot sate, in payment or reduction of the amount due ~tereon, and eacb ol ths pcuties Ifabls for the F~
payment hereof shall remoin liabie tor anr deficiencr. 7'he parties Itable toc the ment hereol agree to pay any deficienc~?
remaininq atter aach application, and anY e:cess proceeda ol anT auch.sals shall~ paid o~er br t6e Hank to the persoA' ~
or persons who depoeited ~r!!h tbe Bank We oollatetal realtzed upon At anY sueh scle, ihe Bank mar purchcse anr <x all ot the . { i~
collaterad so aoid, free Mow anY riqht o) redemption in an7 of ihe pairttes liable for the pcymeM he~eof, v?hiclt riqht oE redemp~an'
u herebr expreaalY Mraived, and marlr applY Ws aa~ount due hereon on aocount oE or in lull soNaEaclion ot the purchase price. ~~f;'
The Hank is authorized bY all parties liable iw ihe pa7rment heroof, ~+[thout notice to any ot lhem to date this noie as '_:~il=~~~
of the dary rrhen the iirst disbw~sement of ths loan eridenced hsreb7 b made and to UU In any blank spaces herein to oonfor~a
to ihe terms upon which 1he loan e~idenced 6erebr b mads.
"~i
o! the demandsk or oblegia tonaere e~seated b are~ of thesosl~dis~ tio~~m ~
oreund~
er ~~and aU~o! hehe t es liabPetor~ihe` ~r
P~ 7 T P~ P~N PoY•
ment hereol hereby make, constilute and appoint the Bant or otber hoWer, hb or their true and Im+tul atlomeY tor that purpose
with tull pori?er and aulho»lY to compromise, setUs a e:tend papment ot wid demands or obliqationa cnd to acquire, sa!is(y' ~Y ~ 1, ,r- .
or discharqe ihe same o( reeord or othervrise as ths parties UQble (or the pa~ment hereot miqht or oould do i! peraonallp presenl
However neither the Bank nor olher holdsr heteoi sha11 be under anY liabllit~ or obligation lo taEs m?Y aieps ~+i~aisoe~er - t,'.:
to 6x anr liabilitY upon or to coltect or to enbrce pa7rmsnt of anY obliqation pledged aa security hersunder wheWet bY qirinq, ; 3~-
anr notice, presenting, demandinq payrnent, protestinq, instituUnq suit or oWer~+fas. . +
. :
The Bant or other hotder shail not bT anr acl o! omission or oommission be deemad !o rroire an7 0[ ib dghts or temedles i':
hereunder unless such waiver bs in rrritinq a~ dgnsd br tbe Bank or olher bolder and thsn onlr lo tbs erisnt ipeciticalty set
(orth therein; a xaires on one event ahall not bs oonstrusd as continuinq or as a bar to ot r?ai~er of such rigbt or remedY on 4
a subaequent erent •
_ ~
The Bank map transter thb note and ma~ deli~er We aafd oollatewl or lhs rewainder thereo[ or anr addttlons W~reto
or subatitutions thete(ot to the transleree r+ho shali thenupon becoms rested r+ith all 1he poaen and rights abors gtren b-~,-.-. {
the Bant tn respect thsreto and 1M Ban~ shall Wetsnftet bs bre~er reliered aod IuU~ diseharged from anY IiabWtY or rsspon-
. slbqltr rrhh tespect to such o~llaterd and sball hav~ no huther daim or Nqht thereto. . •''.~.i-.
The ticbiliq?d each ot tb~ w~dsrsfqnd ~lall bs ~bolut~ and unca~ditfonaf and vlthout »gard b the ~~Qeuicv.a anr ow.~~
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. . - . . , . . - - . t i ' . : McABTHUR D~YYS , . . , _ . ~ , ' ~ . l i _ , ; ~ •
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