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<br /> j V V J L.i v�+ pURCHASE MQNEY MORTGAGE
<br /> �
<br /> ,: KATHLEEN A. McELROY:and JOHN M. McELROY, wife and' husband,
<br /> t and ,'PP.ME:LA S. MURPHY and 'GERALD J. MURPHY„ wife and husband,
<br /> � : Mortgagors, jointly' and severally, in consideration of the sum of
<br /> � ONE'HULVDRED THIRTY-SIX THQUSAND DOLLARS ($136,000.00) , mortgage to
<br /> � HARRY E. -BAUER and RLTTH' BAUER, husband and wi£e, as tenants in
<br /> � common, Mortgagees, the fo5.5.owing describeu r�ai es 4aLe �.;.tua���
<br /> j in Hal.�. County, Nebraska:
<br /> � Lots Seven (7) and Eight ($� , in B3.ock One Hundred
<br /> ;� Two (102) , ISaenig and Wiebe's I�.ddition to the City �
<br /> � of GrGz�d Island, Hall. County, N�braska, as
<br /> „ sur�E�YEd, platted and recorded. ,
<br /> ,,J
<br /> This is a Purchase Money Mortgage securing part of the.con--
<br /> � � �
<br /> � siderati;on for- the sale and_conveyance of the seal estate by
<br /> u{ Mortgagees to Mortgagors. on June 29, 1977. This Mortgage is 'qiven
<br /> � to secure the payment.of-the principal sum of $136,400:00, with
<br /> _� interest-from June 29, 1977, - at the rate of 8 percent per_annum,
<br /> E� r�'^^�*�a1 and' interest pa_yable in three hundred (300) equal monthly
<br /> L.�...."__r_ . .. .
<br /> i.nstallments commencing on August 1, 1977, in accordance with the
<br /> ,� terms of ths Promissory-Nate :dated June 27, 1977, ,exeeuted and.
<br /> �� delivered by Mortgagors to Mortgagees.
<br /> �
<br /> , The Promissory Note pravides time is of the -essence of the
<br /> � Note. Upon default of payment of any monthly installment of tYier
<br /> s ..c�e ,r::�_^. ��+Q; th? u��a�:d. installment, of principal bears interest
<br /> ,� at, the'highest legal rate. - Mortgagors have no right of prepayment
<br /> � of the; unpaid balance of the Bromissory Note be£ore June 29, 1587,'
<br /> � without the.prior.written consent of the Mortgagees. After June 29,
<br /> a� 19$7, Mortgagors have the right of prepayment of any amount of
<br /> ;� principal on :any monthly iristallment payment date, stopping interest
<br /> on the arnaunt paid', but the prepayment of principal is to be in
<br /> addition to the manthly principal installment due on the installment
<br /> °r payment date :and does not relieve the Mortgagors from making consecu-
<br /> ; tive monthly installment payments on the dates that follow.
<br /> �.�
<br /> � Mortgagors agree to pay all taxes and assessments upon the
<br /> � real estate and all other taxes, levies and assessments levied
<br /> 's ' upon this Mortgage and the Note: which this Mortgage is given to
<br /> � secure be£ore payment is delinquent. If Mortgagors. fail to pay the
<br /> f taxes anr3 assessments before delinquent, Mortgagees mag pay the taxes
<br /> �, and 'a5sessmants, or any other liens Mortgagors permit upon the real
<br /> � estate, and the Mortgagees are given a lien secured by this Mortgage
<br /> ; fqr the amounts advanced by Mortgagees, with interest at the highest
<br /> legai rate.
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