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<br />88- 103016 <br /> <br />REAL ESTATE MORTGAGE <br /> <br />r <br /> <br />DAVID DIBBERN and CHERYL DIBBERN, husband and uife, herein <br />called the Mortgagors, in consideration of TWELVE THOUSAND FIVE <br />HUNDRED AND NO/IOO DOLLARS ($12,500.00) do hereby mortgage to the <br />CLARENCE J. MCINTOSH TESTAMENTARY TRUST, herein called the <br />Mortgagee, the following described real estate in Hall County, <br />and State of Nebraska: <br /> <br />The North Half (N1/2) of Lot Fourteen (14) and all of <br />Lot Fifteen (15), Block Six (6), in the original Town <br />of Cairo, Hall County, Nebraska. <br /> <br />This Mortgage is given to secure the payment of the <br />principal sum of $12,500.00 and interest thereon, according to <br />the terms of a certain Promissory Note of even date, executed by <br />the Mortgagors to the Mortgagee, due the 1st day of June, 1993. <br /> <br />The Mortgagors further agree to maintain insurance upon the <br />above described premises in an amount not less than the <br />indebtedness due the Mortgagee with a loss-payable clause in <br />favor of Mortgagors and Mortgagee as their interests may appear. <br /> <br />The Mortgagors shall maintain fire, windstorm and extended <br />coverage insurance with a mortgage clause on the buildings on <br />said premises in the sum of $12,500.00. <br /> <br />The Mortgagors agree to pay all taxes and assessments upon <br />said premises and all other taxes, levies and assessments levied <br />upon this Mortgage and the Note which this Mortgage is given to <br />secure before the same become delinquent. In the event the <br />Mortgagors shall tail to obtain such insurance or pay such taxes <br />before delinquent, the Mortgagee may purchase such insurance and <br />pay such taxes or other liens and shall have a lien secured <br />hereby for the amount so advanced with interest thereon at the <br />rate of fifteen percent (1St) per annum. <br /> <br />In the event of default in the performance of any of the <br />terms and conditions of this Mortgage or the Note secured by it, <br />the Mortgagee shall be entitled to immediate possession of the <br />property above described and all the rents, revenue and income <br />derived therefrom during such time as the Mortgage indebtedness <br />remains unpaid shall be applied by the Mortgagee to the payment <br />of the Note and all other sums secured hereby after deduction of <br />any necessary costs of collection. <br /> <br />1 <br /> <br />u <br />