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� _ � <br /> 7s-- 002830 <br /> REAL ESTATE '�IORTGAC:E <br /> 1 <br /> ELTON I,. STELK and VALON E. STELK, husband and wife, herein <br /> called the Mortgagors, in consideration of One Hundred Eighty <br /> Nine Thousand and No/100 Dollars ($189,000.00) do hereby mortgage <br /> to EARL KAY and CAROLINE F. I(AY, husband and wife, as joint tenants <br /> with right of survivorship, herein called the Mortgagees, the <br /> ` following described rsal estate in HaZl County, and State of <br /> � Nebraska: <br /> The East Half of the Southeast Quarter (E1/2SE1/4) <br /> and the North Half of the west Half of the South- <br /> east Quarter (N1/2WZ/2SE1/4) and an exclusive <br /> easement for driveway purposes over and upon ths <br /> EasterZy Thirty-three (E33) Feet of the Southwest <br /> Quarter of the Southeast Quarter, all in Section <br /> Fifteen (15) , Township Ten (10) North, Range Ten � <br /> (10) , West of the 6th P.M., in Hall County, Nebraska. <br /> This Mortgage is given to secure the payment of the principal <br /> � sum of $189,000.00 and intarest thereon, according to the terms <br /> '3 of a certain Promissory Note of even date, executed by the <br /> . � Mortgagors to the Mortgagees, due the lst day of May, 1993_ <br /> ' The P2ortgagors shall maintain fire, windstorm and extended <br /> ; coverage insurance with a mortgage claus o on the buildings on <br /> � said premises in the sum of $ sd Qp 9 =- <br /> � The Mortgagors agree to pay all taxes and assessments upon <br /> � said premises and aIl other taxes, levies and assessments levied <br /> ; upon this Mortqage and the Note which this Mortgage is given to , ;' <br /> `; secure before the same become delinquent. In the event the <br /> � Mortgagors shall fail to obtaia such insurance or pay such taxes �;; <br /> before delinquent, the Mortgagees may purchase such insurance and <br /> '� pay such taxes or other liens and shall have a lien secured <br /> ,� hereby for the amount so advanced with interest thereon at the <br /> � rate of 10 per cent per annum. <br /> � In the event of default in the performance of any of the <br /> � terms and conditions of this �lortgage or the r7ote secured by ,h <br /> it, the Mortgagee shall be entitled to immediate possession <br /> ,,S of the property above described and all the rents, revenue <br /> , and incoma derived therefrom during such time as the Mortgage ' <br /> � indebtedness remains unpaid shall be aaplied by the Mortgagees ` <br /> to the payment of the Note and a11 other sums secured hereby <br /> i after deduction of any necessary costs of collection. <br /> 1 <br /> � In the event the Mortgagors default in the payment of <br /> � said indehtedness or any installment thereof, or fail to perform <br /> �' any of the other agreements herein, the Mortgagee at Mortqagee's <br /> ! election may declare the entirP debt secured by this Mortgage <br /> � to be due and collectible at once; and may foreclose this Mortgage <br /> , � for the satisfaction thareof. <br /> f <br /> Mortgagees sha11 pay the prior mortgage against this real <br /> i estate according to its terms and if they do not, Mortgagor <br /> ' may do so and deduct all sums paid thereon £rom the amount <br /> � due hereunder. <br /> ,.: <br /> r't <br /> ;, <br /> :� <br /> :; � <br /> .� -<---- <br /> � �` � � <br /> r3 . � � � . � � � �� ��� <br /> s;3 . . .� a � i,� <br /> . . . . . .+�ib:t,� .. <br />;�„�, . . . . . .. <br /> EXFiIBIT C <br />�':{ -1- <br /> i � <br />