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<br />88- 102896
<br />
<br />MORT'G.AGE
<br />
<br />This Mortgage is entered into between THOMAS GALEN McCLURKIN.
<br />CORILEE MAE McCLURKIN. his wife. and TAMMY mON McCLURKIN. their
<br />y.nmryoried 8On. 88 joint telUnts and not as tenants in (".ammon. herein
<br />mortgagor) and The state Bank of Cairo, A Nebraska Bankin$(
<br />CorpOration (herein mortgagee).
<br />
<br />Mortgagor is indebted to 1'10rtgagee in the principal sum of
<br />$10.000.00, evidenced by Mortgagor's note dated June 3, 1988 (herein
<br />Note) providing for payments of principal and interest, with the
<br />balance of the indebtedness, if not sooner paid, due and payable on
<br />Apr ~__,l~>>';!,--
<br />
<br />1'0 secure the payment of the Note, with interest as provided
<br />therein, the payment of all other sums, with interest advanced by
<br />Mortgagecl lo proLec;t the securitj' of this Mortgage, and the performance
<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 Hall County. Nebraska:
<br />
<br />The Southmwt Quarter (SEl/4) of Section 30, in Township 11
<br />North, Range 12, West of the 6th P.M., Hall County, Nebraska,
<br />ex(:er.Ung from the Southeast Quarter of Section 30 above
<br />describ~d, 0. tract of 5 acres as described in a Warranty Deed
<br />record(ld in 800k F Ell page 403 of the Deed Records of Hall
<br />County, Nebraska
<br />
<br />Including aU h;'rigo.tion rights, wells, pumps. irrigation
<br />equipment and 88Be8SOries thereto.
<br />
<br />Together with all buildings, improvements, fixtures, streets,
<br />alleys, passageways, easements, rights, pl"ivi!eges and appurtenances
<br />located thereon or in any way pertaining thereto, and the rents, issues
<br />and profits, I'eversions and I'lmluinders thereof, all of whieh, including
<br />replacement.s and additiol1l\ th~reto, is hereby declared to be a part of
<br />the real estate secured by the lien of this ~10rlgage and all of the
<br />foregoing being rcren'cd to herein as the "Property".
<br />
<br />Mortgagor further convenants and agrees with Mot'tga~ee, as
<br />follows:
<br />
<br />1. Payment. 1'0 pay the indebtedness and the inter'est thereon as
<br />provided in this Mortgnge and the Note,
<br />
<br />2. t-lortgagor is the owner of the Property, has thp. right and
<br />authority Lo mortgage the Property, and warrants that the Lien created
<br />hereby is a first and prior lien on the Property.
<br />
<br />3. To pus when due all taxes, special assessments and all other
<br />charges against the Property and, upon written demand by Hortgagee, to
<br />add to the payment required under the Note secured hereby, such amount
<br />as may be sufficient to enable thp. Mortgagee to pay such taxes,
<br />assessments or other charges as they become due.
<br />
<br />-t. In the eVl~lit the Propert,r, or anj' pal'L thereof, Bhull be taken
<br />by mninent domain, the Mortgagee is empowered to collect. r.md J'C'ceive
<br />all cumpensation which may be paid for any propert.y lalcen 01' fOl'
<br />damages to property not taken, and Mortgagf!e shall apply such
<br />compensation, at its option, either to a reduction of the indebtedness
<br />lwcut'ed herebj' or to repair and restore the property so damaged,
<br />
<br />5. Mortgngee may, but sh~lll have no obligation, to do any act.
<br />whkh thf.' 1I1ol'lgagor has agreed but fails to do, nnd MOJ'tgagee mn)' also
<br />"; 'do uny. act. it. deems neceslitllry to protect. the lien hereof. I'lol't.gllgOI'
<br />. agroes. t.o },E.'pay, upon demand, any sums so expended br the Mortgage{' fOl'
<br />t.he abov(.~ purp06llS, and any SUlIHI so expended by t.he f'.!clI'tt{I1Mee shall be
<br />Hddf!d to ttH~ indebted neAS !HlCUrcd hereb~r /lnd hecorne SII bject to tIlP \iell
<br />hf.lrl!of. M(Jrt~lIg(~f.' ahllU nol i.nc;ur Ilny peruonlll Iillbilll.y b(!cau!lt' of
<br />nnyi:hing it. IlIIlY do 01' omit, to do hel'eund/'l',
<br />
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