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88-102368 PURCHASE MONEY REAL ESTATE MORTGAGE Leon A. Bindenagel and Barbara J. Bindenagel, husband and wife, Mortgagors, in consideration of THIRTY-FOUR THOUSAND TWO HUNDRED ONE AND 80/100 DOLLARS (34,201.80) received from Mortgag~~; mortgage to Gladys L. Aldridge, Mortgagee, the followil<: described real estate situated in Hall county, Nebraska: Lot Si x (6) in Block Thirty-fi ve (35) in the Original Town, now City of Grand Island, Hall County, Nebraska, as surveyed, platted and recorded. This Purchase Money Real Estate Mortgage is given to secure the payment of the principal sum of THIRTY-FOUR THOUSAND TWO HUNDRED ONE AND 80/100 DOLLARS (34,201.80) and interest from May 1, 1988, at eleven (11) percent per annum, the principal and interest being payable in monthly installments of THREE HUNDRED THIRTY- FIVE AND 22/100 DOLLARS ($335.22) per month on the first day of each month commencing June 1, 1988, and on the first day of each mon t h t he rea fter for twen t y- three (23) consecut i ve months, repayment of the prine ipal and interest being amort ized over a twenty-five (25) year or three hundred (300) month period, with a balloon payment of THIRTY-THREE THOUSAND SIX HUNDRED TWENTY-TWO AND 23/100 (33,622.23) being due and payable with the 24th monthly installment of principal and interest on May 1, 1990, as provided in the Promissory Note dated May 1, 1988, ~or which this Mortgage is given as security. The Promissory Note provides that time is of the essence of the Promissory Note, and if Makers fail for period of more than thirty (30) days to pay any monthly instalment payment when due, the holder of the Promissory Note is given the option to declare the Note immediately due and payable without notice or demand. The Promissory Note provides if Mortgagors default in payment of any monthly installment payment when due, the unpaid monthly installment of principal bears interest at the highest legal rate unt i1 pa ide Mortgagors agree to insure the improvements on the real estate for a dollar amount at least equal to the unpaid balance due and payable on the Promissory Note which this Mortgage secures, protecting the improvements from fire and other insurable physical damage hazards, loss (i f any) payable to Mortgagee and Mortgagors, as their interests appear. Mortgagors are to furnish Mortgagee with a certificate of insurance evidencing the insurance on the improvements. r"ortgagors agree to pay all taxes and assessments upon the real estate and all other taxes, levies and assessments levied upon this Mortgage and the Promissory Note which this Mortgage is given to secure before payment is delinquent. If Mortgagors fail 1 L ..J