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<br /> ` . � . , . RFAZ ESTATE IKORTGl1GE . . ',��' �a '���J . � . .
<br /> �� _� � ��RiiB M�R�RG� is g�ered: ia�+� t twee� u5tNE5S � - -- - - _ ,-- -. -
<br /> be 8 WORLa
<br /> ` � ' ItiV�STlI�tiTS, INC., 1�► Nebr.aska Carporati�anj acs •1�lostga��or", and � �� . .. •
<br /> < �
<br /> , JAMES L. !lcELRaY and, AOSF.I�iRIE B. McELROX, Husbaad and Wffe, and � �
<br /> ` � ' JQHti� �. MESLISY Hll1tLR! and IUliCY J. � BA1�E�t, Rusba�d ana Wife, _
<br /> . . • , hesei�after reterred to as "l�oztqagee". � ' �,
<br /> � . Martgagor 3.s indebted �o the Mortgagee in the princfpt�l aun
<br /> - ` o� , T�entp-L�ive Thousa�nd Doilars � ($25.00O.QO? evidenced by . . �
<br /> : i�ortga�or's tiro t2) :Pra�fasary Notes of even date herewitl�. �a �
<br /> � the prf�c�Epal sum of �relve Thousand Fiv� Rundred Dollars -
<br /> � (S12,SQ0.00} each, one Note payable to Jauaes L. Mc8lray and �
<br /> � � Rosemarfe S. l�c�lroy, Husband and Wife, and the second Promissory
<br /> ,.� _ . � Note �payable �o JoAn iiesley� He�ker and N�ncy J. Baker, 8usband and- ' - �
<br /> � < iii€et, each Prem3.e�ary Note provid�nq for princfpal and intereSt
<br /> , . with the balance� of the indebtednesa, ff aot aooner pafd, due aad• �
<br /> �. ; • papabie on Attgust 6, 1993. � , ,
<br /> � : To aecure the pay�ent of� the Note, r�tfi fnterest as � � .
<br /> ' , provf�ed therefn, the payment of all other sums, witb interest, • .
<br /> advaneed by Kortgaqee to protect the aecurity of this Mortqage, ' .'
<br /> and the performa�nce of the covenants ar►� aqreements of the
<br /> � Mor�gagor containe8 herefn, Mortgagor doea her�by mortqage and
<br /> � convey to Mortgagee the followfnq-described praperty locatec� in �
<br /> ' Hal<i County, Nebsaska: . � _�,
<br /> ; .. Lots One (13 and Two t 21. Block Five i S�, �..;�
<br /> � Gladstone Place, in the City o� Grand Island, Hall -
<br /> , Caunty, Nebraeka, together wfth the North Na1f � �. • _-
<br /> , (N�� af the v�c�ted alley adfacent to seid Lats
<br /> One (1) and Two (2) abutting on the SouLh side � , � -
<br /> thereof, subject to u�flity� easementa of recor�.
<br /> � � toq�ther wfth all t�uildings, iaprovements, faxtures, eae�ements. . '
<br /> � rights, privileges and appurtenances locat�c� thereon or fn any -
<br /> � . way pertair�ing t�ereto, and trie ren�s, issue� and proffta,
<br /> reversfons and rea:aindera thexeof; i�cludfng, but not limited to, , �
<br /> �het�ting t�nd cao3ing eguipment and such persanal property as ,
<br /> ` , atta�hed to the ��nprovements so as to conatitute a fixture; all �
<br /> of. w'i�ich, inciuding r�placements. and additions tRereto, ig hereby
<br /> , decla�e8 to be a par� of. the real esta�e secured by the Iien of
<br /> � ehfs Mortqage and aIl og the foregoing being reFerred to herefn
<br /> � as the `property". :�.�.•
<br /> : �
<br /> � � Mortgagor fuy��er covenants an�i agrees as fc,llowa: � ,��
<br /> 1. Pa ment. To pay the indebtednes� and thc interest
<br /> . thexeon as �sr�d in this M�rtgac�e and the No�e.
<br /> .. . .. _.__. ..---- .._...._. _ ... ... . ......... .... . .... .. . . .. .... --- . . _ ... .
<br /> . _ � 2. Titl.e. N•ortgagor is the owner of ttse praper�y and �as
<br /> the right an authoriLy to mortgage the property and warrant that
<br /> � the �ien creuted hereby is a valid second mortgage on t:�e
<br /> .property.
<br /> � 3. Taxes �lsa�ssments. To �,ay wh�n due a12 taxes, special �
<br /> asseasments a�n `a1"?o?'e'ic'eTiarge� aqainst the �ro�erty Anc�, uPon
<br /> , written decnand by Mortq�gee, to add to the �ayments rec�vired �
<br /> � unaer the Note secured hereby, such amoun� as may be �uffirient .__--__=-_--
<br /> � ta. enable the Mortg�gee to pay such t�xes, essessments or other �
<br /> charqes a� th�y hecome due. • . • . �
<br /> �- -� , �. ZRSU��t�ee. To ke�p t�f improvem�nts now �or hereafter � � �
<br /> located onr`�F e ea1 e�tate described herein ins�red aga�nst �
<br /> d�mage by fise and such� other hazards as Morlgagee may rpyuire, �
<br /> fn �mounts �nd with comp�nies acceptable tr� th� 6iartgagee and
<br /> � with �oes payable to the Mortgagee. In cas� of lo�s under such �
<br /> polici�s, �fle Mortgag�e is authari zed tc� adjust, c�o2l�ct and � ���
<br /> �� cor�promis�, in trie discretian �f th� r4artgage�, aIl �laims
<br /> thesee��dEr aL �2artgagee`s �o2e nptior. ��nc3 tr� �Fp2y th� pr�c���i� . .�_
<br /> upori the •i�z8ebtedness se�urec3 hE�r�by wi th f�aXmer�t� h�re�ur�dt�r � •• °
<br /> cottCinufng �nti2 t�e sums sect�recl h�:reby �7se �aic� ih f�,II.
<br /> � . _ 1 � �
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