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<br />88-
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<br />101604.
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<br />MOI~FrGAGE
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<br />This Mortgage is entered into between JOHN H. ALLAN and CONNIEL.
<br />A~l.lAN. huoband and wife. herein mortgagor) and The state Bank of Cairo,
<br />A Nebraoka Bankin.l( CorP:,Oration (herein mortgagee).
<br />
<br />Mortgagor is indebted to Mortgagee in the principal sum of
<br />$60.000.00, evidenced by Mortgagor's note dated ,Marc~ 1988
<br />(herein Note) providing for payments of principal and "inf~rest, with
<br />the balance of the indebtedness, if not sooner paid, due and payable on
<br />March 31 ~1998.
<br />
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<br />To secure the payment of the Note, with interest as provided
<br />therein, the payment of all other sums, with interest advanced by .
<br />Mortgagee to protect the security of this Mortgage, and the perforf!l~nce
<br />of the convenants and agreements of the Mortgagor contained herein,
<br />Mortgagor does hereby mortgage and convey to Mortgagee the following
<br />property located in Buffalo and Hall Counties. Nebraska:
<br />
<br />The South Half of the Northwest Quarter (Sl/2NWl/4) of
<br />Section 21, in Township 11 North, Range 12, West of the 6th
<br />P.M., Hall County, Nebraska, excepting a tract containing 12
<br />acres, more or leso, and being the Southerly 553 feet of the
<br />Westerly 945.25 feet of the Southwest Quarter of said
<br />Northwest Quarter; and
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<br />The South Half of the Northeast Quarter of Section 7,
<br />Township 9 North, Range 15, West of the 6th P.M., Buffalo
<br />County, Nebraska, except 2.755 acres, more particularly
<br />described as follows: Referring to th~ Southe8.8t corner of
<br />the Northeast Quarter of said Section 7; thence Westerly on
<br />the South line of said Northeast Quarter a distance of 679.0
<br />feet to the ACTUAL PLACE OF BEGINNING; thence continuing
<br />westerly on the aforedescribed course a distance of 416.5
<br />feeti thence with a deflection angle to the right of 90 .
<br />degrees 00' and in a Northerly direction a distance of 292.0
<br />feeti thence right 90 degrees 00' and in an Easterly
<br />direction a distance of 196.5 feet; thence right 90 degrees
<br />00' and in a Southerly direction a distance of 81.0 feet;
<br />thence left 90 degrees 00' and in an Eaoterly direction a
<br />distance of 20.0 feet; thence right 90 degrees 00' and in a
<br />Southerly direction a distance of 211.0 feet to the place of
<br />beginning, containing 2.755 acres, more or Ions, of which
<br />0.317 acres, more or less are presently being used for road
<br />purposes.
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<br />Including all irrigation rights, wells, pumps irrigation
<br />equipment and accessories thereto
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<br />'I'ogether with all buildings, improvements, fixtures, atl'eets,
<br />alleys, passageways, easements, rights, privileges and appurtenances
<br />located thereon or in any way pertaining thereto, and the rents, issues
<br />and profits, reversions and remainders thereof, all of which, including
<br />replacements and additions thereto, is hereby declared to be a part of
<br />the real estate secured by the lien of this Mortgage and all of the
<br />foregoing being referred to herein as the "Property".
<br />
<br />Mortgagor further convenants and agrees with Mortgagee, as
<br />follows:
<br />
<br />1. Payment. 'ro .pay the indebtedness and the interest thereon as
<br />provided in this Mortgage and the Note.
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<br />2. ~10rt.gagor is the owner of the Pl'operty, has the right and
<br />authority to mortgage the Property, and warrants that the lien created
<br />hereby' ie a first and prior lien on the Property.
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<br />3. '1'0 pay when due all taxes, special assessments and all olhel'
<br />chc.rges against the PI'oporty and, upon written demand by Mortgagee, Lo
<br />add to the payment l'cquh'cd under the Note secured hereby, such Illllounl
<br />lHl muy he sufficient to eno.bl~ the Morlgagee to PllY such taxes,
<br />IlBSeBsments 01' othel' ehal'ges as they become due.
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