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<br /> REAL ESTATE MORTGAGE
<br /> KNOW ALL MEN BY THESE PRESENTS: That Mid-Nebraska Mental Retardation
<br /> Services, Inc. , a corporation organized and existing under and by �
<br /> virtue of the laws of the State of Nebraska, in consideration of the
<br /> sum of Thirty-Four Thousand and No/100 Dollars ($34,000.00) in hand
<br /> paid, does hereby SELL and CONVEY unto COMMERCIAL NATIONAL BANK AND
<br /> TRUST COMPANY of Hall County, State of Nebraska, the following descrikzed
<br /> premises situated in Hall County, and State of Nebraska, to-wit:
<br /> FRACTIONAL LOT SEVEN (7) , IN FRACTIONAL
<br /> BLOCK ONE HUNDRED SIXTESN (116) , IN KOENIG
<br /> AND WIEBE�S ADDITION TO THE CITY OF GRAND
<br /> =SLAND, HALL COUNTY, NEBRASKA, AND ITS
<br /> COMPLEMENT, TO-WST: FRACTIONAL LOT SEVEN
<br /> (7?', 2ZV��,',RA�'I�Tb I.r BLOCK ONE HUNDRED SIXTEEN
<br /> `"(�`]t6)„I1,3cRAILR� ADDITION TO THE CITY OF
<br /> .:GRAAII}-ISLANIYj FfAf:T' COUNTY, NEBRASKA.
<br /> The intention being to convey hereby an absolute title in £ee simple.
<br /> TO HAVE AND TO HOLD the premises above described, with all the appur-
<br /> tenances thereunto belonging unto the said Mid-Nebraska Mental Retarda-
<br /> tion Services, Inc. and to its heirs and assigns forever, provided
<br /> a always, and these presents are upon the express condition that if the
<br /> _ said Mid-Nebraska Mental Retardation Services, Inc. or assigns shall
<br /> pay or cause to be paid to the said Commercial National Bank & Trust
<br /> ' Company, its heirs, executors, administrators or assiqns, the sum of
<br /> r Thirty-Four Thousand and No/100 Dollars ($34,000.00) , payable as
<br /> follows, to-wit:
<br /> To pay $394.`77 .on March 27, 1978, and a like amount
<br /> ,fon the:;�,7th--day:,of each month thereafter until entire
<br /> -p=incipal amount plus accrued interest is paid in full.
<br /> Final payment due February 28, 1988, with interest thereon
<br /> at Seven Percent (7.0�) per annum, payable monthly,
<br /> according to the tenor and effect of the certain promissory
<br /> note of said Mid-Nebraska Mental Retardation Services, Inc. ,
<br /> bearinq even date with these presents and shall pay all taxes and
<br /> assessments levied upon said real estate and all other taxes, levies
<br /> and assessments levied upon this mortgage or the note which this
<br /> mortgage is given to secure, before the same becomes delinquent,
<br /> and keep the buildings on said premises insured for the sum of $42,500.00,
<br /> loss, if any, payabZe to the said mortgagee, then these presents to be
<br /> void, otherwise to be and remain in full force.
<br /> IT IS FURTHER AGREED, (1) That, if the said mortgagor shall fail to pay
<br /> such taxes or procure'such :insurance, the said mortgagee may pay such
<br /> taxes and procure such insurance; and the sum so advanced, with interest
<br /> at Nine Percent (9.08) shall be repaid by said mortgagor, and this
<br /> mortgage shall stand as security for same. (2) That a £ailure to pay
<br /> any of said money, either principal or interest when the same becomes
<br /> due, or a £ailure to comply with any of the foregoing agreements, shall
<br /> cause the whole sum of money herein secured to become due and collectible
<br /> at once at the option of the mortgagee.
<br /> IN WITNESS WHEREOF, the said Mid-Ivebraska Mental Retardation Services,
<br /> Inc. has hereunto caused its corporate seal to be affixed and these
<br /> presents to be signed by its President this 27th day of February, 1978.
<br /> Signed, sealed and delivered in MID-NEBRASKA MENTAL RETARDATION
<br /> presence SERVICES, INC.
<br /> `$ ^ s: _ �� by: /�-�;'.GV.P , i�J �? i.t��
<br /> "-„ - a. Al req, Bac�ie President s
<br />• �f���'r '-" //L/3"�D 1' - ;�
<br /> „'r:'qr'�+ by
<br /> � , M v � MENTAL RETARDATION Ma`vi Dannehl' _e President �' "�� •
<br /> � SER NC, bY: , J �
<br /> � , Ro e rip ' y Treas. �:
<br /> ;�� by� , .
<br /> a eig : ance, Boar Me er by Stanl y , Boar M er
<br /> ��� � � �' � �. �
<br /> �. �bY: d tii+_y_ � �i : �'"�;�/.._,C
<br /> � Wayne ardy, Board Memb r bY= - - �rPf y� �"i`� - Y
<br /> ,Ja�1c�Hammer, Board Member
<br /> �
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