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I 88- 100317 I REAL ESTATE MORTGAGE PATRICK L. FITZGERALD and RITA A. FITZGERALD, husband and wife, (hereinafter referred to as the Mortgagor), 2216 Maplewood, Grand Island, NB 68801 SELL AND CONVEY TO: NORMAN W. DREESZEN and JUDY L. DREES ZEN , husband and wife (hereinafter referred to as the Mortgagee), 401 Crawford, Clay Center, Kansas. The real estate described below to secure a debt pursuant to the following terms and conditions. 1. REAL ESTATE. Lot Eight (8) in Knickrehm Eighth Addition to the City of Grand Island, Hall County, Kansas It is the intention of the parties to convey hereby an absolute title in fee simple including all of the rights in homestead endower and to have and to hold the premises described above with all of the appurtenances thereunto belonging to said mortgagees and to their heirs and assigns, forever, provided always, and these presence are upon express condition that if the said mortgagors, their heirs, executors, administrators or assigns shall payor cause to be paid to the said mortgagees and to their heirs, executors, administrations or assigns the debt described below, then these presences be void, otherwise to be and remain in full force. 2 . DEBT. The Mortgage granted herein is to secure NO&~N W. DREESZEN, JR. and JUDY L. DREES ZEN , their assigns the repayment of the sum of $8,000.00 plus interest thereon together with all extensions, renewals and future advances of all of the sums that may be due and payable in accordance with the terms and provisions of the Promissory Note, the major terms of which are listed below, and any other Promissory Notes and as any of them may hereafter be modified or remade. Eight thousand dollars ($8,000.00) together with eleven percent (11%) simple interest on the unpaid balance from January 22, 1988 with the sum of three thousand dollars ($3,000.00) payable on or before March 1, 1988 and if so paid shall not bear any interest, and interest on the remaining amount paid monthly the first payment to be made on 1 March 1988 and on the first day of each consecutive month thereafter with the final unpaid balance of principal and interest due on or before February 1, 1989. 3. PAYMENT OF PRINCIPAL AND INTEREST. L RYAN AND RYAN, P.A. ATTORNEYSAl LAW P,O BOX 205 509 COURT STRrEl CLAY CfNTER. KS 67431 Time is the essence of this Mortgage Agreement. Mortgagor shall promptly pay when due, the principal and interest on the indebtedness evidenced by the notes referred to above, including future advances, and any and all other payments required by said note and this mortgage at the time and in the manner therein provided. Payable in lawful money of the United States of America which shall be legal tender in pa~nent of all debts and dues, public and private, at the time of payment, at The First National Bank of Clifton, Kansas or at such other place as the legal holder of the principal note may in writing designate. (913) 632,5666 "I 'i'<,;.. ~ r~ ! ( lt~ i ~ f' f8 .' I