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1 1 FIRST REAL ESTATE MORTGAGE 100415 Richard L. Dubbs and Kristi L. Dubbs, husband and wife, Mortgagors, in consideration of TEN THOUSAND DOLLARS ($10,000.00). mortgage to the Bank of Wood River, a Nebraska Banking Corporation, Mortgagee, the following described real estate situated in Hall County, Nebraska: Lot Nine (9), Block Two (2) Capital Heights Second Subdivision, Hall County, Grand Island, Nebraska. This First Real Estate Mortgage is given to secure the payment of the principal sume of TEN THOUSAND DOLLARS ($10,000.00) and interest at a variable rate from September 15, 1988, payable in installments according to the terms of an installment note (Variable Rate) dated September 15, 1988, executed and del ivered by Mortgagors to Mortgagee, the principal and interest being payable in installments as follows: 120 EQUAL MONTHLY PRINCIPAL AND INTEREST PAYMENTS OF $134..9;4 beginning October 15, 1988. This note has a variab,Le'interest rate. The annual percentage rate may increase during the term of the transaction if the base rate of the bank increases. The maximum interest rate will be 13% with a minimum rate of 9 %. Any increase will take the form of higher payments if the rate increases by one (1) per cent per year, your regular payment will increase to $140.60.. t Interest is payable for the first anniversary of the Note on September 15, 1989 at the rate of (101) percent per annum and interest thereafter will be based upon the prime rate charged by Mortgagee to its customers determined on each anniversary date of the Note until the Note is paid in full. The Note provides if interest is not paid when due,. or if any other indebt- edness of the Makers to the Mortgagee is not paid when due, or if a garnishment summons or a writ of attachment is issued against or served upon the Mortgagee for the attachment of any property of the Makers in the possession of the Mortgagee or any indebtedness owing to the Mortgagee, or if the holder of the Note shall at any tiiO. in good faith believe the prospect of due and punctual payment of the Note is impaired, then, in any such event, the holder of the Note may, at its...mption, declare the Note to be immediately due and payable and thereupon tile•Note.ehall be immediately due and payable, together with all unpaid interest accrued on.this Note, without notice of demand. The Note further provides f� if the Note is not paid when due (whether at maturity or upon acceleration), the Mortgagee shall also have the right to set off the indebtedness evidenced by the Note against any indebtedness of the Mortgagee to the Makers. The Note further provides the Note shall become automatically due and payable (including unpaid interest) accrued on the Note without demand should the Makers both die or should a petition be filed by or against the Makers under the United States Bankruptcy Code. The Note provides that unless prohibited by law, the Makers agree to pay all cost 6f collection," including reasonable attorneys' fees and expenses, incurred by the holder of the' Note in the event the Note is not duly paid and that the holder of the Note may at.'any time renew the Note or extend its maturity date for any period and release any security for, or any party to, the;No•te, all without notice to or consent of and without releasing any accommodation maker, indorser or guarantor from liabi:iity on the Note. The Note provides presentment or other demand for payment, notice of dishonor and protest are waived by the Makers and each endorser'and grantor. Mortgagors agree`.ty pay all real estate taxes and assessments levied upon the ' M 6•