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<br /> REAL ESTATE MORTGAGE
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<br /> KNOW ALL MEN BY THESE PRESENTS:
<br /> That, Ho-Ott-Schu Land Company, a corporation duly organized and existing
<br /> ' ' under the laws of the State of Nebraska, as mortgagor, in consideration of .
<br /> ONE HUNDRED TWENTY THOUSAND AND NO/100 DOLLARS ($120,000.00) in hand paid, do hereby' grant, bargain, sell and convey unto The First National Bank of Grand Island, Grand
<br /> Island, Nebraska, a banking corporation of Grand Island, Hall County, Nebraska, as
<br /> mortgagee, the following described real estate situated in Hall County, and State
<br /> of Nebraska, to-wit:
<br /> Southwest Quarter of the Southeast Quarter (Including Lot Ten (10) of
<br /> Valentine Park, now vacated) in Section 12 in Township 11 North, Range
<br /> 10 West of the 6th P.M., except tract deeded to the State of Nebraska,
<br /> t recorded in Deed Record 143 at Page 441, Hall County, Nebraska.
<br /> The West Half of the Southeast Quarter (Wil SE') of Section Twenty-Seven
<br /> (27), in Township Eleven (11) North, Range Nine (9), West of the 6th P.M.,
<br /> in Hall County, Nebraska, excepting therefrom tracts of ground more
<br /> particularly described in Corporation Warranty Deeds recorded in Book 162,
<br /> Page 120 and Book 167, Page 492 in the Office of the Register of Deeds,
<br /> Hall County, Nebraska.
<br /> Part of the Southeast Quarter of the Southwest Quarter (SES SW's) of
<br /> '7z.',', Section Twenty-Seven (27), Township Eleven (11) North, Range Nine (9)
<br /> West of the 6th P.M., in Hall County, Nebraska, more particularly
<br /> f.. described as follows: Beginning at a point on the East line of said
<br /> Southwest Quarter (SWC?, said point being forty-five (45.0) feet North
<br />° of the Southeast corner of said Southwest Quarter (SWC), thence Northerly along
<br /> r a distance of said east line of SW
<br /> Seven Hundred Ninety-Eight (798.0) feet; thence westerly parallel to
<br /> to the South line of said Section Twenty-Seven (27), a distance of Six
<br /> t Hundred Forty-Eight and Ninety-Six Hundredths (648.96) Feet; thence
<br /> Southerly, a distance of Seven Hundred Ninety-Eight (798.0) feet, to a
<br /> point Forty-Five (45.0) feet North of the South line of said Section
<br /> Twenty-Seven (27); thence Easterly parallel to said South Line of
<br /> Section Twenty-Seven (27), a distance of Six Hundred Sixty-Five and
<br /> + Eight Hundredths (665.08) feet to the place of beginning and •
<br /> containing 12.035 acres, more or less.
<br /> together with all improvements thereon, including all heating, gas and plumbing
<br /> apparatus and fixtures and appurtenances thereunto belonging; and all covenants and
<br /> all title deeds running with such lands; and all rents, issues and profits arising
<br /> therefrom after default in performance of any covenant and condition therein
<br /> contained; the intention being to convey hereby an absolute title in fee simple and 0.
<br /> to convey all and every right, title and interest of such Ho-Ott-Schu Land Company,
<br /> a corporation, in and to such real property.
<br /> The mortgagor does hereby covenant with the mortgagee, its successors or
<br /> assigns, that it is lawfully seized of said premises; that such premises are free
<br /> from encumbrances and that they will warrant and defend such premises against lawful
<br /> claims of any and all persons whomsoever.
<br /> TO HAVE AND TO HOLD the premises above described with all improvements
<br /> thereon, including all heating, gas and plumbing apparatus and fixtures and all
<br /> 0.
<br /> appurtenances thereunto belonging unto the said The First National Bank of Grand
<br /> Island, Grand Island, Nebraska, and to its successors and assigns forever, provided
<br /> always, and these presents are upon the express condition that if the said mortgagor,
<br /> its successors or assigns, shall pay or cause to be paid to The First National Bank
<br /> of Grand Island, Grand Island, Nebraska, its successors or assigns, the sum of
<br /> ONE HUNDRED TWENTY THOUSAND AND NO/100 DOLLARS ($120,000.00), plus interest at the
<br /> prime rate of The First National Bank of Grand Island, Grand Island, Nebraska, with
<br /> . the rate being variable and adjusted on June 30 and December 30, of each year, and
<br /> being at the rate of 8 3/4% from date hereof to June 30, 1976, all according to the
<br /> tenure and effect of the one promissory note of the mortgagor bearing even date with
<br /> these presents; shall pay all taxes and assessments levied upon such real estate, and
<br /> all other taxes, levies and assessments levied on this mortgage or upon note which
<br /> this mortgage is given to secure before the same becomes delinquent; shall keep the
<br /> buildings on said premises insured for the sum of at least $120,000.00 loss, if any,
<br /> payable to such mortgagee, its successors or assigns, and deliver to said mortgagee, %+5 r,
<br /> its successors or assigns, the policies for said insurance, and shall not permit or
<br /> commit any waste upon such real property, ther these presents to be void, otherwise '"
<br /> to be and remain in full force and effect.
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