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<br />88--
<br />
<br />102686
<br />
<br />FIRST
<br />
<br />REAL
<br />
<br />ESTATE
<br />
<br />MORTGAGE
<br />
<br />DAVID R. BROWN AND JOAN M. BROWN, husband and wife, Mortgagors,
<br />in consideration of ONE HUNDRED THIRTY THOUSAND DOLLARS ($130,000.00),
<br />mortgage to the Bank of Wood River, a Nebraska Banking Corporation,
<br />Mortgagee, the following described real estate situated in Hall
<br />County, Nebraska:
<br />
<br />The East Half of the Northwest Quarter (E 1/2 NW 1/4) of Section One (1),
<br />the West Half of the Northwest Quarter (W 1/2 NW 1/4) of Section One (1),
<br />and the North Half of the Northeast Quarter (N 1/2 NE 1/4) of Section
<br />Two (2), all in To~~ship Ten (10) North, Range Eleven (11), West of
<br />the 6th P.M., in Hall County, Nebraska.
<br />
<br />This First Real Estate Mortgage is given to secure the
<br />payment of the principal sum of ONE HUNDRED THIRTY TnOUSAND DOLLARS
<br />($130,000.00) and interest at a variable rate from May 23, 1988,
<br />payable in installments according to the terms of a Commercial Note
<br />(Variable Rate) dated May 23, 1988, executed and delivered by
<br />Mortgagors to Mortgagee, the principal and interest being payable
<br />in installments as follows:
<br />
<br />EIGHT THOUSAND SIX HUNDRED SEVENTY DOLLARS, with interest on March 1, 1989;
<br />EIGHT THOUSAND SIX HUNDRED SEVENTY DOLLARS, with interest on March 1, 1990;
<br />EIGHT THOUSAND SIX HUNDRED SEVENTY DOLLARS, with interest on March 1, 1991;
<br />EIGHT THOUSAND SIX HUNDRED SEVENTY DOLLARS, with interest on March 1, 1992;
<br />EIGHT THOUSAND SIX HUNDRED SEVENTY DOLLARS, with interest on March 1, 1993;
<br />EIGHT THOUSAND SIX HUNDRED SEVENTY DOLLARS, with interest on March 1, 1994;
<br />EIGHT THOUSAND SIX HUNDRED SEVENTY DOLLARS, with interest on March 1, 1995;
<br />EIGHT THOUSAND SIX HUNDRED SEVENTY DOLLARS, with interest on March 1, 1996;
<br />EIGHT THOUSAND SIX HUNDRED SEVENTY DOLLARS, with interest on March 1, 1997;
<br />EIGHT THOUSAND SIX HUNDRED SEVENTY DOLLARS , with interest on March 1, 1998;
<br />EIGHT THOUSAND SIX HUNDRED SEVENTY DOLLARS, with interest on March 1, 1999;
<br />EIGHT THOUSAND SIX HUNDRED SEVENTY DOLLARS, with interest on March 1, 2000;
<br />EIGHT THOUSAND SIX HUNDRED SEVENTY DOLLARS, with interest on March 1, 2001;
<br />EIGHT THOUSAND SIX HUNDRED SEVENTY DOLLARS, with interest on March 1, 2002;
<br />EIGHT THOUSAND SIX HUNDRED TWENTY DOLLARS, with interest on March 1, 2003.
<br />
<br />Interest for the first three years and until March 1, 1991,
<br />is Ten percent (10%) per annum payable with the installments of
<br />principal on March 1, 1989; March 1, 1990; and March 1, 1991.
<br />On March 1, 1991; March 1, 1994; March 1, 1997, and March 1, 2000,
<br />interest will be reset at the Bank of Wood River Base Rate of
<br />interest, less one-half of one percent (0.5%); provided however
<br />that any increase in interest rate will be no more than two
<br />percent (2%) higher than the interest rate in the previous three
<br />year period'S).
<br />
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