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<br /> REAL ESTATE MORTGAGE
<br /> KNOW ALL MEN BY THESE PRESENTS: That Mid-Continent Enterprises, Inc.
<br /> a Gorporatioa osganized and existing under and by virtne af the laws
<br /> oE the State of L3ebras�a in conszderation of the sum of Twa Hvndred
<br /> � .� Foxty-Two Thousand Five Hundred Ninety-Six and 80J100---Aollars in
<br /> hand :paid,, does:;hereby SELL and CONS7EY unto Commercial NationaZ.Bank `
<br /> a�d Trust �omgany' of Hall County, State o£ Nebraslca, the following
<br /> described :pxemises situated in .Ha3I. County, and State of i�7ebraska,
<br /> � ��t0—W3.t�.�.... . . � .. � . . . . � � � .. . .
<br /> A aertain part of; the;5outh Eiaif of the Northeast Quarter {S4NE�S) and
<br /> a part o£ the Southeast QuarLer {SE�S} of Secti.on Twenty-four (24), a.n
<br /> Township Eleven (11) Narth, Range Ten (20) , West o£ the 6th P.M_ , Hall
<br /> Coun�ty, t3ebras]ca, .lying north of the IInion pacific Razlroa3-.Gompany' s
<br /> Right of Way, more particularly desoribed as: Beginning at a paint pn
<br /> the North Right of Way Line of the Union Pacific Railroad:Company, rrhiah
<br /> point is Four Hundred 3ixty-six (4b6.0) £eet southwesterly fram the
<br /> intesseqtion o£ the East line of the South Hal£ o£ the Northeast 4,Suaster
<br /> -(S�tNE�) of Seetian Twenty-four (24) , Township Eleven (11) North, Range
<br /> Ten (10) , West of the fth P.M. , and the LSorth Right oE Way Line of the
<br /> Union Paci£ic Railroad Company, running thence southwesterly upon and
<br /> along the North Right o£ Way Lin� of the Union PaciEic Raiiroad Company,
<br /> Four Hundred (400.0) feet, deflecting thence right °O°00' and running
<br /> Nortkxwesterly for a distance o£ Four Hundred Eighty (480.0) feet,
<br /> deflecting thence right 90�00' and running northeasterly paraliel to
<br /> the North Right of Way line oP the Union Pacific Railraad Company,
<br /> Faur Hundred (400.0) feet, de£leoting thence right 90°00' a.nd running
<br /> southeasterly Por a distance of Four Hundred Eighty (480.0) feet to the
<br /> actual poin�t o£ beginning.
<br /> Sn the event the title ta said real estate is transferred, or contracted
<br /> to be transferr�d, from the undersaid for any reason or by any methad
<br /> whatsoever, the entire principal sum and accr.ued i.nterest shall at once
<br /> beaome due and payable at the holder her.eof. Failure to exercise
<br /> , f this option because of transfer of title as above stated in one instance
<br /> shall not constitute a waiver of the right to exercise the same in the
<br /> event of any subsequent trans£er.
<br /> The intention being to convey hereby an abso2ute title in fee simgle.
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<br /> TO HAV� AND TO HOLD the premises above described, with all the
<br /> appurtenances thereunto kselonging unto the said Mid-Continent Enterprises,
<br /> =nc. and to its heirs and assigns farever, provide3 always, and these
<br /> presents are upon the express condition that if the said Mid-ContinenY
<br /> Enterpri.ses, Inc. or assigns shall pay or cause to be paid to tkne said
<br /> Commercial National Bank & Trust Company its heirs , executors ,
<br /> administrators or assigns , the sum of Two Aundred Farty-Two Thousand
<br /> Five Iiundred Ninety-Six and 80f100---Dollars payable as follows ta-wit:
<br /> Two Hundred Forty-Two Thcusand Five Hundred Ninety-Six & $q/100 Dollars
<br /> ran the 6th day of AuGust 1978 , with intErest thereon at 9.50 per cent
<br /> F�er annum, payable manthly on the 6th day of each :aonth, commenoing
<br /> 3une 6, 1977, according to the tenor and effect of the gromissory note
<br /> of said Mid-Continent Enterprises , Inc. bearing even date with these '
<br /> r: presents and sha11 pay all taxes and assessments levied upon said real
<br /> estate and ali other taxes, levies and a,ssessments levied upon thi.s
<br /> mortgage ar the note which ttxis mortgage is given to securP , before the
<br /> same becomes delinquent, and kecp the buildings on said premises insured
<br /> �' £or tfie sum o£ $ , loss , if any, payaY�le to the said
<br /> mortgagee, �hen these presents tc be voi3, ctherwise to be and remain
<br /> in rull for.ce.
<br /> IT SS FURTHER AGREED, (1) That if the said mortqaq_or shall fail to pay
<br /> sucti taxes or procure such insurance, the said mortgagee may pay suc?z
<br /> taxes and procure such insurance; and the sum so advance3, with interest
<br /> at 9. 50 per cent sha21 be repaid '�y said martgagor, and this mortgag�
<br /> shall stand as secu.rity fcr same. (2) That a failu=e to pay any of said �«� "
<br /> money, c>ither principal qr interest when the same become due, or a
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<br /> td;�kur.� to comply with any of the foregoing agreements, shail cause the �
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<br /> f , us'h�crle�.;,sum of money herein secured to become due and collectible at once
<br /> �� � � at th��°?c>ption o£ the mortgagee. � �
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<br /> r�' � � .. :l'N� W1TN��S��S wYdFRFOF, rne Ga_d Mid-���n.^.+;n�n+- �'�r�r�•-ise=_ T_-;c :^as he:^unte �3�� '
<br /> �. ��u��ed-,ats corporate seal to be affixe3 and these gresents to be signed �
<br /> by i��:,;i'resident this 6th day of May, 1977.
<br /> i Mid-C�o�t en�Er�rpr�ses,
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