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<br /> 76- 000643
<br /> MORTGAGE
<br /> THIS INDENTURE, Made and executed this 31st day of January, 1976,
<br /> by,and between JON IL SMAHA and BARBARA A. SMAHA, husband and wife,
<br /> parties of the first part, and MERCHANTS FINANCE COMPANY, party of the
<br /> second part,
<br /> WITNESSETH, That the said parties of_the first part, for and in consideration
<br /> of Seven Thousand One Hundred ($7,100.00) Dollars paid by the said party of the •
<br /> secondpart, the receipt whereof is hereby acknowledged, have granted, bargained, . •
<br /> sold and conveyed, and by these premises, do grant, bargain, sell and convey, unto
<br /> - the said party of the second part, the following described real estate, situate in the
<br /> County of Hall and State of Nebraska, to-wit: •
<br />• Lot,Six (6) Bernard Voss First Subdivision, being a part
<br /> ;`r of Lot One (1) Voss Subdivision being all that part of the
<br /> '`' East Half of the Southwest Quarter (E 1/2 SW 1/4) and the
<br /> West Half of the Southeast Quarter (W 1/2 SE 1/4) of
<br /> Section Eleven (11), Township Eleven (11)North, Range
<br /> Nine (?) West of the 6th P.M., in Hall County, Nebraska,
<br /> together with all the tenements, hereditaments and appurtenances to the same
<br /> belonging, and all the estate, title, dower, right of homestead, claims and demands
<br /> whatsoever of the said parties of the first part of, in or to said premises or any
<br /> part thereof; that said premises are free from all incumbrances except existing
<br /> first mortgage of record with Home Federal Savings & Loan Association, Grand
<br /> Island, Nebraska, and except easements and restrictions of record, and that said
<br /> parties of the first part will warrant and defend the title to said premisesagainst
<br /> the lawful claims and demands of all persons whomsoever except as above provided.
<br /> Provided always, and these presents are upon these conditions: Whereas,
<br /> said parties of the first part have executed and delivered to the said party of the •
<br /> second part one promissory note in the amount of Seven Thousand One Hundred
<br /> ($7,100.00) Dollars of even date hereof, and have agreed to pay all taxes and •
<br /> assessments against said premises before the same, by law, become delinquent, •
<br /> and have agreed that if said parties of the first part fail to pay all taxes as.
<br /> aforesaid, then party of the second part, or holder thereof, may pay such taxes
<br /> and all amounts so paid by said party of the second part shall bear interest at the
<br /> rate of Eight (8%) per cent per annum from date of payment, and this mortgage _
<br /> shall stand as security therefor, and said sum may be added to the amount of the
<br /> • mortgage debt, and the same recovered as a part thereof. Now, if the said parties
<br /> of the first part shall welland truly pay or cause to be paid the said sum of money in
<br /> said note mentioned, with interest thereon according to the tenor and effect of said
<br /> note, and shall keep all taxes and assessments paid and shall duly keep, perform all
<br /> the other covenants and agreements herein contained, then these presents to be
<br /> null and void. But if said sum of money or any part thereof, or any interest thereon,
<br /> is not paid when the same is due, or if the taxes and assessments against said
<br /> premises are not paid at or before the time the same become by law delinquent,
<br /> or if said parties of the first part shall fail to keep and perform any covenants herein
<br /> contained, the holder hereof shall have the option to declare the whole of said
<br /> indebtedness due and payable at any time after such failure or default, and may
<br /> maintain an action at law or equity to recover the same and the commencement of
<br /> such action shall be the only notice of the exercise of said option required.
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