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<br /> THIS MORTGAOE�made this °��day of August, 1997,between North Centrel
<br /> Assisted Llving. L.L.C. (hereinafter cailed "Mo�tgagar")and Sterling House Corporation
<br /> (hereinafter called"Mortgagee")is as follows:
<br /> WITNESSETM.that Mortgagor in cons�deration of the sum of Two Millian� Five
<br /> Hundred Thousand Doilars(�2,500�000.0(1)ta tt in hand pald,_the �eceipt of wi�ich is -
<br /> hereby acknowledged�does by these presents grant�ba�gain. seil,mortgage�convey,—----- —
<br /> and waRant unto Mortgegee. its successore and assigns,all af the following described
<br /> real estate,to-wit:
<br /> Lot One(1), Brenfinrood Fifth Subdivision. in the City of
<br /> Grand Island,Hall County. Nebraska
<br /> together with all fl�ctures appurtenan4 thereto, insofar as they now are or may hereaft�sr
<br /> beiong to or�ie used witi�ihe saia reai esiatn. wi�ici�3i'inii�3�3�it a�f t�:o sIIt:t:itt;i tC�:lt�
<br /> indebtedness her�ein mentioned and sh�ll be encumbered by this rnortgage togethe��
<br /> with ali the buildings� improvements�ways�streets,alleys. passages, �ights�liberties�
<br /> privileges�tenements� hereditaments.easements�and appurtenances thereunto
<br /> appertaining�aRd the reversions and romainders.rents�issues�and pr+oflts thereof�
<br /> hereinafter referred to as the"Mortgaged Propertyr."
<br /> TO HAVE AND TO H�LD the same,with all the hereditaments and
<br /> appurtenances thereunta betonging or in anywise appertaining unto Mortgagee. its
<br /> successo�s snd assigns. forever. Mortgagor does he�eby covenant and agree that at
<br /> the delivery hereof,it is the lawFul owner of the Mortgaged Property free and dear of
<br /> encumbrances. except as specfficaliy described above�and that it does�warrant and will
<br /> defend the sam�against the lawfuf clainns or demands of all persons.
<br /> This Mortgage is given to secure the payment of a cert�in promissory note(the
<br /> "Note")of even date herewith executed by the Mo�tgagor� payable to the order of
<br /> Mortgagee.in the princfpal sum of T'wo Million,Five Hundred Thousand Dollars
<br /> ($2.500.000.00)in lawful money of the United 5tates of America.with interest from the
<br /> date thereof�payable as provided therein.
<br /> This Mortgage is fu�ther subject to the following agreements,cc�venants, and
<br /> conditions,to-wit:
<br /> 1. Extensions:Additional Securitv. The granting of an extension or
<br />= extensions of time of payment of the Note or any renewal of the Note or waiver of o�
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