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<br />L 11
<br />
<br />-. I 88__ -100799
<br />
<br />58--ItEAL ESTATE MORTGAGE (Corporatlon)-Wlth Tax Clausll
<br />
<br />The HulTmnn Ol'npra! Supply HOU!H1. Lincoln. Nnbr.
<br />
<br />
<br />KNOW ALL MEN BY THESE PRESENTS:
<br />
<br />THAT Great Lakes Concrete, Inc.,
<br />
<br />a corporatioll orgallized alld existillg IlIlder and by virtue of the laws of the State of
<br />
<br />Iowa
<br />
<br />consideration of the slim of NINE HUNDRED THOUSAND AND NO/IOO________________________DOLLARS
<br />
<br />iI' halld paid, does hereby SELL alld CONVEY 141110 Fairmont National Bank, Farimont, Minnesota,
<br />
<br />of
<br />in
<br />
<br />Clay
<br />Hall
<br />
<br />County, State of
<br />County, alld State of
<br />
<br />~hnnesota
<br />Nebraska
<br />
<br />the followillg described premises situated
<br />, to-wit:
<br />
<br />Lot One (I), Spelts-Schultz IndustrlJI Subdivision to the City of
<br />Grand Island, Hall County, Nebraska, excepting a tract of land conveyed
<br />to the State of Nebraska, Department of Roads, on May la, 1984, filed of
<br />record in the Office of the Register of Deeds of Hall County, Nebraska,
<br />on August 20, 1984, as Document No. ~4-004328, and excepting a tract
<br />conveyed as recorded as Document No. 79-005899 in such Records.
<br />
<br />i The inlention beillg to collve)' hereby an absolute t;t!e ill fce simple.
<br />I TO HAVE AND TO HOLD the premises abo,'e described, with all the appurtellallces therellllto belollging UlltO
<br />i the said Fairmont National Bank, Fairmont, Minnesota,
<br />
<br />I alld to its >>xirxX1ml assigns forever, provided always, alld these presellts are UPOIl the express condition
<br />I that if the said Great Lakes Concrete, Inc.,
<br />
<br />1 or assiglls shall payor cause to be paid to the said
<br />
<br />Fairmont National Bank, Fairmont, Minnesota,
<br />
<br />~K!lf~~)(J)XrWt~Mt~or assigns,
<br />follows, to-wit:
<br />\$700,000.00 payable monthly at
<br />$9,544.33 per month; $200,000.00
<br />open line of credit payable
<br />lannUallY
<br />
<br />the sum of Nine Hundred Thousand---------- Dollars, payable as
<br />
<br />~~~x~~xxxxxxxxxx~~xxxxxxxxxxxxxxxxxxXx~xx
<br />~~~x~~xxxxxxxxxx~~xxxxxxxxxxxxxxxxxxXx~xx
<br />>>~~x~~xxxxxxxxxx~~xxxxxxxxxxxxxxxxxXx~xx
<br />>>~~x~~xxxxxxxxxx~~xxxxxxxxxxxxxxxxx~x~xx
<br />. ~~~~~xxxxxxxxxx~~xxxxxxxxxxxxxxxxx~x~xx
<br />ov~r prlme--raL~ .
<br />at two per cellf pel' allllum, payable fllllllwll)', accordillg to the tellor
<br />promissory lIote '1JI.K4xxkxITJlt.X/XIJItRXs:JCZtJxzWxlxoo:rfi,XS7SKkxx of Great Lakes
<br />
<br />with interest thereOl1
<br />and effect of the
<br />Concrete, Inc.,
<br />bearing even date with these presellts alld shall PO)' all taxes and assessments levied UPOIl said real estate a11d all other
<br />taxes, levies and assessments levied Up 011 this 1II01.tgage or the note 'Which this mortgage is given to secure, befol'e the
<br />same becomes delinquent, and keep the buildings 011 said premises insured for the sum of $ 200,000.00 ,loss, if
<br />any, pa)'able to the said mortgagee, then these presents to be void, otherwise to be alld remaill in full force.
<br />IT IS FURTHER AGREED, (1) That if the said mortgagor shall fail to pay such taxes or procure such insur-
<br />alice, the said mortgagee may pay such taxes alld proCllre such insurance; and the SUIII so advanced, with interest at
<br />per cent shall be repaid by said mortgagor, alld this mortgage shall stOlid as security for same. (2) That
<br />a failure to pay aJIY of said malley, either prillcipal or interest when the same become due, or a faillll'e to comply with
<br />allY of the foregoing agreements, shall cause the whole SU1ll of money herein secured to become due and collectable
<br />at once at the option of the mortgagee.
<br />
<br />IN H1ITNESS WHEREOF, tl.e said
<br />
<br />Great Lakes Concrete, Inc.,
<br />
<br />has hereflllto caused its corporate seal to be affixed and lIust' presents
<br />this '-1 day of F€.I?JRvAI2., A. D. 1988.
<br />
<br />Signed, sealed atld delivered in presence of
<br />
<br />......C~:...)/~.,fJJ~~.~...
<br />
<br />President
<br />
<br />to be siglled by its
<br />
<br />i; t
<br />
<br />. ......GREAT .LAKES.. GQNCRE.IE~ .1NL....
<br />
<br />J3Yh.:!J.?:i:J...~~.~.~~.,....!t "" j;,./'
<br />"' President
<br />/t'~4(~. 6. :? ~....L'? / ~(.:_ .J.?...
<br />>-
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