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<br />r40RTGAGE
<br />
<br />This Mortgage is entered into between
<br />
<br />Marilyn L. Hayes
<br />
<br />
<br />(herein Mortgagor) ,and
<br />(herein Mortgagee).
<br />Mortgagor is indebted to r.lortgagee in the principal sum of $ ,16,000.00
<br />
<br />Elmer Ray Sharp
<br />
<br />evidenced by Mortgagors' note dated December 31, 1987
<br />
<br />(herein Note) providing
<br />
<br />for payments of principal and interest, with the balance of the indebtedness, if
<br />
<br />not sooner paid, due and payable on
<br />
<br />Demand
<br />
<br />To secure the payment of the Note, with interest as provided therein, the
<br />payment of all other sums, with interest advanced by Mortgagee to protect the
<br />securi ty of thi s r'10rtgage, and the performance of the covenants and agreements
<br />of the t~rtgagor contained herein, Mortgagor does hereby mortgage and convey to
<br />
<br />Mortgagee the following property located in Hall
<br />
<br />County, Nebraska.
<br />
<br />Let Eight (8) in Block Fourteen (14) of Wallichs
<br />to the City of Grand, Hall County, Nebraska
<br />
<br />Addition 00
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<br />Together with all buildings, improvements, fixtures, streets, alleys, passageways,
<br />easements, rights, privileges and appurtenances located thereon or in anywise pertaining
<br />thereto, and the rents, issues and profits, reversions and remainders thereof, all of
<br />which, including replacements and, additions thereto, is hereby declared to be a part
<br />of the real estate secured by the lien of this t'1ortgage and all of the foregoing being
<br />referred to herein as the "Property".
<br />
<br />Mortgagor further convenants and agrees with Mortgagee, as follows:
<br />
<br />1. Payment. To pay the indebtedness and the interest thereon as provided in
<br />this Mortgage and the Note.
<br />
<br />2. Mortgagor is the owner of the Property, has the right and authority to mortgage
<br />the Property, and warrants that the lien created hereby is a first and prior lien on
<br />the Property.
<br />
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<br />3. To pay when due all taxes, special assessments and all other charges against
<br />the Property and, upon written demand by Mortgagee, to add to the payment required
<br />under the Note secured hereby, such amount as may be sufficient to enable the Mortgagee
<br />to pay such taxes, assessments or other charges as they become due.
<br />
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